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GM's redesigned full-size 2021 SUVs face delay over coronavirus

As General Motors works to conserve cash for the coronavirus pandemic, the automaker reportedly told suppliers that it is postponing development of several future vehicles. The situation may cause GM to delay the launch of the 2021 Cadillac Escalade, GMC Yukon, Chevrolet Tahoe and Chevrolet Suburban SUVs, which had been planned to roll out in April. The original launch plan for the redesigned full-size SUVs, which are some of the most profitable vehicles produced by GM, had called for production of the current models to end at its plant in Arlington, Texas, this week. After a retooling process, the redesigned SUVs were slated to begin production late in the month of April. In an email to suppliers viewed by Reuters and confirmed as authentic by GM, the automaker also said it was suspending development work on six future vehicle programs, including updates of the Chevrolet Equinox, GMC Terrain, Cadillac XT4, Bolt EV, Chevrolet Silverado and GMC Sierra. GM said preproduction work on those programs would be pushed back to calendar year 2021, with most of the updated vehicles scheduled to be launched as 2022 models. According to the Detroit News, work has also been paused on the Chevy Camaro and a future version of the Corvette that has yet to be unveiled and wasn't planned for production during the 2020 calendar year. Last week, the automaker told employees and suppliers it was delaying work on some future vehicles while pushing ahead with near-term models such as its redesigned full-size SUVs and the GMC Hummer EV, Cadillac Lyriq, Chevrolet Bolt EUV and Cruise Origin, as well as its new Ultium battery system. A GM spokesman who spoke with Reuters reiterated on Monday what the automaker had said last week — that the situation with its U.S. plants was "fluid" and that the automaker would "continue to evaluate" whether and when to reopen those plants on a week-by-week basis, with "employee safety" guiding that decision. GM said previously that it was closing most of its U.S. plants indefinitely. In its Monday email, GM asked suppliers to stop work on all pre-production tooling and pre-production parts manufacturing, but also not to dispose of any tooling or materials. GM told Reuters it had solicited volunteers from its workforce to finish the build-out of the current SUVs on a single shift in Arlington.

Recharge Wrap-up: Chevy Volt class action suit proposed, Tesla stock could outperform in 2015

A class action suit has been proposed against General Motors for a steering problem in the Chevrolet Volt. The plaintiffs claim that a defect can cause the steering to freeze intermittently, and that General Motors either knows or should have known about the problem. The case, filed in New Jersey, also claims that defective parts are replaced with the same or similar parts, which are also defective. The plaintiffs say that claims for the 100-plus-member class exceed $5 million. Read more at Law360 or at BigClassAction. Tesla Motors stock (TSLA) has risen after weeks of losses. It gained 5.4 percent during the week ending December 19, when it closed at $219.29 per share. Since then, it rose slightly more, closing at $222.26 on December 24. Morgan Stanley lowered its target price on Tesla stock from $320 to $290, predicting lower sales on the upcoming Model III than expected before, but still called Tesla a good long-term investment. Analysts at CNBC predicted Tesla to be the best performing stock of 2015. Read more at ETF Daily News. Oslo- and New York-based architecture firm Snohetta has designed a zero-emissions house that also charges an electric car. The ZEB Pilot House, built in Larvik, Norway, uses a solar panel on the roof to power the house, which also provides enough excess energy to charge an EV. To make the most of energy most efficiently, the house uses smart technology to use as much energy as it can once it's harvested. This means one can turn on appliances like the washing machine remotely while the sun is at the optimum angle in the sky - perhaps during mid-day when the residents are at work. The house also uses organic materials and is designed to save as much energy as possible. Read more at Wired.

Porsche and Buick earn top honors in J.D. Power Sales Satisfaction Index Study

Customer satisfaction with car buying has been at a low point over the past few years, as price increases, inventory shortages, and COVID restrictions have complicated every part of the process. There are signs of improvement, however, as J.D. Power’s 2023 U.S. Sales Satisfaction Index Study showed that customer satisfaction has improved slightly from a year ago. J.D. Power rates satisfaction on a 1,000-point scale, finding that it improved seven points to 793 from last year. Improving inventory levels and a slow leveling off of prices have contributed to that improvement, and fewer people are paying above MSRP for new cars. Some auto brands performed better than others with sales satisfaction. Porsche ranked highest among premium brands, followed by Alfa Romeo. Buick took the top spot among mass-market brands, with GMC, Chevrolet, and Mitsubishi behind. J.D. Power also handed out segment-level awards: Premium Cars: Porsche Premium SUV: Porsche Mass-Market Car: Chevrolet Mass-Market SUV/Minivan: GMC Mass-Market Truck: GMC Despite the increase in sales satisfaction, thereÂ’s still room for improvement to reach pre-pandemic levels. J.D. Power noted gaps in salesperson knowledge as an area of improvement. Buyers rated salespeople much better during a gas vehicle purchase than with EVs, citing their expertise as a challenge. Pricing remains a challenge despite an improvement since 2022, and satisfaction is still below pre-pandemic levels. Mass-market buyers reported a slight bump in satisfaction, while premium buyers felt that pricing was less fair than a year before. ItÂ’s an interesting contrast, showing that dealer pricing tactics can significantly impact satisfaction with the sales process. Fewer people may be paying more than MSRP, but several premium models still list with significant markups. Even more interesting is PorscheÂ’s top spot on the satisfaction list, as its cars often sell with huge upcharges, and itÂ’s exceedingly tricky even to get a build allocation for some models. Buick Chevrolet GMC Porsche Car Buying Ownership