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GM profits threatened by glut of pickups

Automotive News reports that General Motors may slash production or ramp up discounts in order to deal with an oversupply of pickup trucks. GM currently has more than double the standard supply of pickups, and the vehicles are threatening to dampen the automaker's profits for 2013. Typically, automakers try to sustain a 60- to 75-day supply of vehicles, but GM is currently loaded with a 139-day supply, as of last month. At the end of November, the automaker was sitting on 245,853 units.
The manufacturer says that it will adjust production accordingly before laying any incentives on the profitable pickups. Even so, there's some concern that the inventory swell could hurt the roll-out of the next-generation Chevrolet Silverado and GMC Sierra. GM actually began slowly stepping back production in August, but it's clear the company will take further action as it heads toward the end of the year and into the next. Analysts predict the automaker could reduce pickup manufacturing by nearly half in the first quarter of 2013.
That still may not be enough to keep GM from laying extra cash on the Silverado and GMC Sierra. While the company's incentive spending was down in November compared to the same month in 2011, both the Ram 1500 and Ford F-150 saw double-digit percentage increases in sales last month while the Silverado and Sierra numbers slid compared to a year prior. Incentive spending could help move more trucks and add some balance to the GM inventory surge.

GM pickup truck plant in Flint to add 1,000 assembly workers

FLINT, Mich. — General Motors said Tuesday it will add 1,000 workers to build new heavy-duty pickup trucks at its plant in Flint, Michigan, and will give priority to GM workers who were laid off elsewhere. The announcement comes the day after GM said it was starting to hand pink slips to about 4,000 salaried workers in the latest round of a restructuring announced in late November that will ultimately shrink its white-collar workforce in North America by 15 percent out of 54,000. GM has come under fire from U.S. President Donald Trump and Midwestern lawmakers for its plans to stop production at five North American factories and cut up to 15,000 jobs in all. The automaker has said it is trying to find new jobs for 1,500 U.S. hourly workers at the affected plants. Flint's truck plant could be a haven for many of these employees. Sales of heavy-duty pickups in the United States have grown to more than 600,000 vehicles a year, up more than 20 percent since 2013, according to industry data. Prices for luxury models can easily top $70,000. GM on Tuesday will celebrate the launch of a new generation of heavy-duty GMC and Chevrolet pickups at the assembly plant in Flint, Michigan, that is now building all such trucks for the company. Elsewhere in the company on Monday, two people briefed on the cuts in the white-collar salaried workforce said GM is cutting hundreds of jobs at its information technology centers in Texas, Georgia, Arizona and Michigan and more than 1,000 jobs at its Warren, Michigan Tech Center. GM is filing new required mass layoff notices with state agencies and disclosed the cuts to lawmakers. The largest U.S. automaker announced in November it would cut a total of about 15,000 jobs and end production at five North American plants. The cuts include eliminating about 8,000 salaried workers, or about 15 percent. GM cut about 1,500 contract workers in December and said 2,300 salaried workers accepted buyouts, officials said. "These actions are necessary to secure the future of the company, including preserving thousands of jobs in the U.S. and globally. We are taking action now while the overall economy and job market are strong, increasing the ability of impacted employees to continue to advance in their careers, should they choose to do so," GM spokesman Pat Morrissey said, adding the bulk of the cuts should be completed in the next two weeks. Morrissey said GM would provide salaried workers with severance packages and job placement services.

We recap the 2017 Detroit Auto Show | Autoblog Podcast #499

We're back with our first Autoblog Podcast of 2017! This week, Greg Migliore and David Gluckman discuss the 2017 Detroit Auto Show, including the hot debuts, some new versions of bestsellers, and an unofficial theme we picked up on. Then it's on to what they've been driving lately, and we wrap up with Spend My (Your) Money buying advice to help you, our listeners. The rundown is below. Remember, if you have a car-related question you'd like us to answer or you want buying advice of your very own, send a message or a voice memo to podcast at autoblog dot com. (If you record audio of a question with your phone and get it to us, you could hear your very own voice on the podcast. Neat, right?) And please send trivia questions! You'll get the honor of stumping your fellow listeners, and we'll thank you too. Autoblog Podcast #499 The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics and stories we mention Our 2017 Detroit Auto Show coverage America was the unofficial theme of the 2017 Detroit Auto Show 2017 Chevy Malibu Hybrid 2017 Volkswagen Passat 2017 Buick Envision Used cars! Rundown Intro - 00:00 Detroit show recap - 03:04 What we're driving - 25:04 Spend My Money - 35:46 Total Duration: 49:45 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show on iTunes Podcasts Detroit Auto Show Buick Chevrolet Ford Honda Jeep RAM Toyota Volkswagen Crossover Minivan/Van SUV Sedan Ford Bronco kia stinger gt