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GM to cut production at 5 plants in North America, kill several models
Mon, Nov 26 2018DETROIT/WASHINGTON — General Motors Co said on Monday it will cut production of slow-selling models and slash its North American workforce in the face of a stagnant market for traditional gas-powered sedans, shifting more investment to electric and autonomous vehicles. The announcement is the biggest restructuring in North America for the U.S. No. 1 carmaker since its bankruptcy a decade ago. GM said it will take pre-tax charges of $3 billion to $3.8 billion to pay for the cutbacks, but expects the actions to improve annual free cash flow by $6 billion by the end of 2020. GM plans to halt production next year at three assembly plants: Lordstown, Ohio, Hamtramck, Michigan, and Oshawa, Ontario. The company also plans to stop building several models now assembled at those plants, including the Chevrolet Cruze, the Cadillac CT6 and the Buick LaCrosse, the sources said. Sources said the Chevrolet Volt, Impala and Cadillac XTS would also be discontinued. Signs of the demise of six passenger-car models have been swirling since July. Plants in Baltimore, Maryland, and Warren, Michigan, that assemble powertrain components have no products assigned to them after 2019 and thus are at risk of closure, the company said. It will also close two factories outside North America, but did not identify those plants. The AP reported that 14,700 jobs would be affected. Some 8,100 of those would be white-collar jobs reduced through buyouts or layoffs. The No. 1 U.S. automaker signaled the latest belt-tightening in late October when it offered buyouts to 50,000 salaried employees in North America. The company also said it will cut executive ranks by 25 per cent to "streamline decision making." Some 6,000 factory workers could lose their jobs or be transferred to other plants. Its shares were last up 6.2 percent at $38.16. Tariff 'headwinds' and cost-cutting GM Chief Executive Officer Mary Barra told reporters on Monday the company can reduce annual capital spending by $1.5 billion and increase investment in electric and autonomous vehicles and connected vehicle technology because it has largely completed investing in new generations of trucks and sport utility vehicles. Some 75 percent of its global sales will come from just five vehicle architectures by early in the 2020s. It plans to reduce annual capital spending to $7 billion by 2020 from an average of $8.5 billion a year during the 2017-2019 period.
What's big at the Chicago show | Autoblog Podcast #503
Fri, Feb 10 2017On this week's podcast, Mike Austin and David Gluckman discuss the big debuts at the 2017 Chicago Auto Show. They also recap what they've all been driving lately, and the episode wraps up with Spend My Money buying advice to help you, our dear listeners. And there's an awful Dad Joke thrown in there for you to find. 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 if you have other questions or comments, please send those too. Autoblog Podcast #503 The video meant to be presented here is no longer available. Sorry for the inconvenience. Topics and stories we mention Jaguar XE Volkswagen Golf R Toyota Highlander Hybrid Chicago Auto Show coverage Used cars! Rundown Intro - 00:00 What we're driving - 01:46 Chicago show preview - 22:58 Spend My Money - 35:36 Total Duration: 52:48 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 Chicago Auto Show Chevrolet Dodge Jaguar Toyota Volkswagen Truck Hatchback SUV Performance Sedan ford expedition jaguar xe volkswagen golf r 2017 Chicago Auto Show
Domino's reveals Chevy Spark-based delivery car
Wed, Oct 21 2015Next time you order from Domino's Pizza, check out the delivery car. In an effort to get hot and fresh pizzas to hungry customers, the company is creating a small run of custom vehicles that are tailored for the job. Dubbed the Domino's Delivery Expert (DXP), these 2015 Chevrolet Spark-based hatchbacks pack a plethora of features to provide the perfect pie. When the DXP's on delivery duty, every order should arrive steaming hot thanks to the hatchback's biggest custom upgrade – a warming oven right behind the driver. Accessible from outside, it can keep pizzas at the perfect temperature on the way to your house and hold two of Domino's Heatwave bags. Other than the driver's seat, the rest of the interior also gets replaced with bountiful storage and non-slip surfaces. According to the company, as many as 80 pizzas could conceivably fit inside, and that would be quite a party. The exterior is still clearly derived from the Spark but with some clever additions. An illuminated "Out for Delivery" sign is on the roof, and a puddle light shoots the Domino's logo on the ground. Plus, the company's red-and-blue color scheme is emblazoned over the hood, pillars, and hatch. Underneath all the pizza-related mods, power comes from a 1.2-liter four-cylinder and CVT. Rather than just a one-off stunt, Domino's is working with Roush Enterprises and former General Motors exec Kenneth R. Baker to build 100 DXPs. They're hitting the streets in 25 US cities, and you can check if your locale is included on the project's website. The seed of this idea came from a partnership with Local Motors to crowdsource the ultimate pizza delivery platform. Domino's Launches Purpose-Built Pizza Delivery Vehicle Domino's Innovative DXP™ Created by Three Great Michigan Brands and an International Crowdsourcing Design Competition Ann Arbor, Mich., Oct. 21, 2015 -- In its latest innovation as the recognized world leader in pizza delivery, Domino's (NYSE:DPZ) is launching the Domino's DXP™ (Delivery Expert), a specially designed and built pizza delivery vehicle. The DXP is the combined brainchild of former GM R&D executive Kenneth R. Baker, Michigan-based Roush Enterprises and Domino's. To also include consumers' input, hundreds of concepts were initially identified in an online crowdsourcing design competition hosted by Local Motors. "The Domino's DXP is the first purpose-built vehicle aimed at revolutionizing pizza delivery," said Russell Weiner, president of Domino's USA.
