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GM to cut production at 5 plants in North America, kill several models

DETROIT/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.

Bring back the Bronco! Trademarks we hope are actually (someday) future car names

Trademark filings are the tea leaves of the auto industry. Read them carefully – and interpret them correctly – and you might be previewing an automaker's future product plans. Yes, they're routinely filed to maintain the rights to an iconic name. And sometimes they're only for toys and clothing. But not always. Sometimes, the truth is right in front of us. The trademark is required because a company actually wants to use the name on a new car. With that in mind, here's a list of intriguing trademark filings we want to see go from paperwork to production reality. Trademark: Bronco Company: Ford Previous Use: The Bronco was a long-running SUV that lived from 1966-1996. It's one of America's original SUVs and was responsible for the increased popularity of the segment. Still, it's best known as O.J. Simpson's would-be getaway car. We think: The Bronco was an icon. Everyone seems to want a Wrangler-fighter – Ford used to have a good one. Enough time has passed that the O.J. police chase isn't the immediate image conjured by the Bronco anymore. Even if we're doing a wish list in no particular order, the Bronco still finds its way to the top. For now (unfortunately), it's just federal paperwork. Rumors on this one can get especially heated. The official word from a Ford spokesman is: "Companies renew trademark filings to maintain ownership and control of the mark, even if it is not currently used. Ford values the iconic Bronco name and history." Trademarks: Aviator, AV8R Company: Ford Previous Use: The Aviator was one of the shortest-run Lincolns ever, lasting for the 2003-2005 model years. It never found the sales success of the Ford Explorer, with which it shared a platform. We Think: The Aviator name no longer fits with Lincoln's naming nomenclature. Too bad, it's better than any other name Lincoln currently uses, save for its former big brother, the Navigator. Perhaps we're barking up the wrong tree, though. Ford has made several customized, aviation themed-Mustangs in the past, including one called the Mustang AV8R in 2008, which had cues from the US Air Force's F-22 Raptor fighter jet. It sold for $500,000 at auction, and the glass roof – which is reminiscent of a fighter jet cockpit – helped Ford popularize the feature. Trademark: EcoBeast Company: Ford Previous Use: None by major carmakers.

This is what a 2017 Chevy Camaro Z28 could look like

The latest Camaro Z28, the enthusiast darling of the somewhat frumpy fifth-generation pony car, only hit the scene in 2014. It housed the wonderful 7.0-liter, naturally-aspirated LS7 small block V8 and featured a ton of aero bits. The trickest pieces may have been the dynamic spool valve shocks, legitimately race tech for the road. So with the new Camaro out in the wild, we were wondering what a new Z28 might look like, and thus, commissioned these renders based on our best guesses as to what a future Z28 might be. Since Chevy didn't stray too far from the Zeta-chassis Camaro formula with its new Alpha-based car, our vision of a new 2017 Camaro Z28 likewise is a sequel rather than a reboot. The exterior styling and aero details are similar, but sleeker. The defining and protruding front splitter is back, but it's smoothed slightly and better integrated. It shares quad exhaust pipes with the lowlier SS, but they're of the beveled Z06 variety, and sized up to a howitzer caliber. Instead of a weak faux rear fender vent, our version gains a real brake cooling duct. Some iconic elements, like the hood extractor vent and the large decklid spoiler, remain. What we can't see, we have to speculate on. As the track-focused, hardcore pony car in the Camaro lineup, the Z28 will have to do battle with the Ford Shelby Mustang GT350R. There's simply no avoiding it. And whereas Ford distinguished that car with a 5.2-liter, 526-horsepower, flat-plane-crank V8, Chevy is likely to look to the parts bin to find motivation. This isn't a knock; the LS and LT-series small block V8s are both numerous and power-dense. And there's one engine that seems to do the trick: the LSA, last seen in the old CTS-V and still on sale in the Camaro ZL1 (and of course, still being produced as a crate engine). In ZL1 form, the LSA makes about 580 hp, which is a nice margin over the GT350R. It's also a high-zoot but not top-of-the-line mill, having been mostly superseded by the 650-hp LT4. That puts our probable Z28 far enough behind the new CTS-V and current Corvette Z06 in the pecking order to be a safe bet, without hobbling it with the LT1 shared with the Camaro SS and regular Corvette. Will those trick spool-valve shocks from Multimatic make it to the Z28 again? Ford is taking the GT350R very seriously, and if the expensive but supremely capable suspension system is required to manhandle the Shelby at the track, you can bet that Chevy will pony up for it.