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5 reasons why GM is cutting jobs, closing plants in a healthy economy

DETROIT — Even though unemployment is low, the economy is growing and U.S. auto sales are near historic highs, General Motors is cutting thousands of jobs in a major restructuring aimed at generating cash to spend on innovation. It's the new reality for automakers that are faced with the present cost of designing gas-powered cars and trucks that appeal to buyers now while at the same time preparing for a future world of electric and autonomous vehicles. GM announced Monday that it will cut as many as 14,000 workers in North America and put five plants up for possible closure as it abandons many of its car models and restructures to focus more on autonomous and electric vehicles. The reductions could amount to as much as 8 percent of GM's global workforce of 180,000 employees. The cuts mark GM's first major downsizing since shedding thousands of jobs in the Great Recession. The company also said it will stop operating two additional factories outside North America by the end of next year. The move to make GM get leaner before the next downturn likely will be followed by Ford Motor Co., which also has struggled to keep one foot in the present and another in an ambiguous future of new mobility. Ford has been slower to react, but says it will lay off an unspecified number of white-collar workers as it exits much of the car market in favor of trucks and SUVs, some of them powered by batteries. Here's a rundown of the reasons behind the cuts: Coding, not combustion CEO Mary Barra said as cars and trucks become more complex, GM will need more computer coders but fewer engineers who work on internal combustion engines. "The vehicle has become much more software-oriented" with millions of lines of code, she said. "We still need many technical resources in the company." Shedding sedans The restructuring also reflects changing North American auto markets as manufacturers continue to shift away from cars toward SUVs and trucks. In October, almost 65 percent of new vehicles sold in the U.S. were trucks or SUVs. That figure was about 50 percent cars just five years ago. GM is shedding cars largely because it doesn't make money on them, Citi analyst Itay Michaeli wrote in a note to investors. "We estimate sedans operate at a significant loss, hence the need for classic restructuring," he wrote. The reduction includes about 8,000 white-collar employees, or 15 percent of GM's North American white-collar workforce. Some will take buyouts while others will be laid off.

2016 Chevy Camaro coming on May 16

We officially have a date for the arrival of the sixth-generation Chevrolet Camaro. Fans of Chevy's Mustang fighter should look forward to May 16, and if they're in the Detroit area, they'll want to make their way down to Belle Isle, home of the Chevy Indy Dual in Detroit. We still don't have a great deal of information on the new Camaro, aside from what's been gleaned in spy shots and the like, although Chevy's press release was accompanied by the image shown above. That, friends, looks a lot like the Camaro's badge of old. Its presence here could be an indication that an old logo is set to return to production. That's because what Chevy is planning could best be described as a jamboree, or Camaro-palooza, if you prefer, rather than a typical unveiling. Chevy is inviting up to 1,000 Camaro fans to descend on Belle Isle for a day-long event that will offer up a lot more than their first look at the sixth-generation muscle car. Fans can hot lap the Belle Isle circuit from the passenger's seat of a new Z/28, check out a Camaro "museum," featuring "the most significant vehicles from the brand's history," and chat with some of the Camaro's designers and engineers. "This will be an event Camaro fans will not want to miss," Camaro marketing manager Todd Christensen said in a statement. "This is only the sixth time we have introduced an all-new Camaro. We wanted to share the moment with the customers and fans who have helped make Camaro both America's favorite performance car for the past five years, and a cultural icon since 1967." We'll almost certainly be on hand for the debut (and you'll absolutely be able to get all the details here). And as we said, if you happen to be in the Detroit area in mid May, you can register to attend the unveiling. All you need to do is head over to Chevy's dedicated website for the sixth-generation Camaro and sign up for the big event, on Saturday, May 16. Scroll down for the full press release. 2016 Camaro Drops Cover on May 16 in Detroit DETROIT – Chevrolet is inviting fans to see the all-new 2016 Camaro on Saturday, May 16, in Detroit. The sixth-generation Camaro will cap a day-long celebration on Belle Isle, the 982-acre island park that is home to the Chevrolet Detroit Belle Isle Grand Prix May 29-31. "This will be an event Camaro fans will not want to miss," said Todd Christensen, Camaro marketing manager. "This is only the sixth time we have introduced an all-new Camaro.

GM won't really kill off the Chevy Volt and Cadillac CT6, will it?

General Motors is apparently considering killing off six slow-selling models by 2020, according to Reuters. But is that really likely? The news is mentioned in a story where UAW president Dennis Williams notes that slumping US car sales could threaten jobs at low-volume factories. Still, we're skeptical that GM is really serious about killing those cars. Reuters specifically calls out the Buick LaCrosse, Cadillac CT6, Cadillac XTS, Chevrolet Impala, Chevrolet Sonic, and the Chevrolet Volt. Most of these have been redesigned or refreshed within the past few model years. Four - the LaCrosse, Impala, CT6, and Volt - are built in the Hamtramck factory in Detroit. That plant has made only 35,000 cars this year - down 32 percent from 2016. A typical GM plant builds 200,000-300,000 vehicles a year. Of all the cars Williams listed, killing the XTS, Impala, and Sonic make the most sense. They're older and don't sell particularly well. On the other hand, axing the other three seems like an odd move. It would leave Buick and Cadillac without flagship sedans, at least until the rumored Cadillac CT8 arrives. The CT6 was a big investment for GM and backing out after just a few years would be a huge loss. It also uses GM's latest and best materials and technology, making us even more skeptical. The Volt is a hugely important car for Chevrolet, and supplementing it with a crossover makes more sense than replacing it with one. Offering one model with a range of powertrain variants like the Hyundai Ioniq and Toyota Prius might be another route GM could take. All six of these vehicles are sedans, Yes, crossover sales are booming, but there's still a huge market for cars. Backing away from these would be essentially giving up sales to competitors from around the globe. The UAW might simply be publicly pushing GM to move crossover production to Hamtramck to avoid closing the plant and laying off workers. Sales of passenger cars are down across both GM and the industry. Consolidating production in other plants and closing Hamtramck rather than having a single facility focus on sedans might make more sense from a business perspective. GM is also trying to reduce its unsold inventory, meaning current production may be slowed or halted while current cars move into customer hands. There's a lot of politics that goes into building a car. GM wants to do what makes the most sense from a business perspective, while the UAW doesn't workers to lose their jobs when a factory closes.