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Despite strong profits, GM still fighting flat market share

Looking at the progress General Motors has made since it entered bankruptcy, it's easy to forget that the company still has a long way to go before it's the juggernaut it once was. A recent report from Reuters points out that, while GM is making money, it isn't making any gains in terms of US market share. Quite the opposite, really. Consider this factoid: In 1963, nearly half of the cars sold in the United States were from Chevrolet, Cadillac, Buick, GMC or Pontiac. Now, the company's US market share is stagnant at 17.9 percent. That same number is half of just Chevy's 1963 market share. This is all despite GM going on a binge replacing or updating its models. "Market share increases are not instantaneous," Mark Reuss told Reuters at the 2014 Detroit Auto Show. "We've got a lot of baggage. Don't underestimate what people though of us, or these brands, through these hardships and 30 years." The reasons for the stagnant market share are numerous. Reuters points out that retooling of factories and a focus on limiting incentives are both good things for profit, but not necessarily for market share. There's also the troubling turnover of the brand's marketing department. These issues don't change the fact that Chevrolet has lost 1.4 percent of its market share in two years, and that Cadillac - arguably GM's most improved brand overall - has lost 1.2 percent in the same period. Part of that can be blamed on GM's avoidance of fleet sales in favor of more profitable customer sales. "Our focus has really been on retail and that's where we've got the growth," said Alan Batey, GM's interim global marketing boss. "We want to grow GM and that means growing market share and profits, but it's not at all costs," Reuss said. News Source: ReutersImage Credit: paul bica - Flickr CC 2.0 Earnings/Financials Buick Cadillac GM GMC sales profits

An unofficial 750-hp AWD GMC Syclone is on the way

From the makers of the 1,000-horsepower modern-day Yenko Chevy Camaro comes a 750-horsepower modern reimagination of the GMC Syclone. Following the release of the 455-horsepower Canyon-turned-Syclone from 2019, Specialty Vehicle Engineering (SVE) announced this week it will build a 2021 Canyon Syclone with supercharged V8 engine.  In the early '90s, GMC produced a all-wheel-drive performance version of its Sonoma pickup truck called the Syclone. It had a turbocharged and intercooled 4.3-liter V6 that made 280 horsepower and 350 pound-feet of torque. GMC has withheld from producing a new version of the legendary pickup for the current era, so aftermarket company SVE took the torch and threw it in a gasoline-soaked bonfire.  SVE upped the ante when it released last year's "new" Canyon-based Syclone with a supercharged V6 that made 455 horsepower. In the year that has since passed, SVE decided to go beyond the heritage of the V6 powerplant and replace it with a supercharged V8. The new engine will give the 2021 Syclone, again based on the Canyon, a whopping 750 horsepower. The 2021 model will also have all-wheel drive like the original.  That's all the information the teaser provides, but an accompanying video previews what the truck will sound like. Based on the short clip, the exhaust will have a hearty bark to match its beefy heart. Check out the videos below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Even if GM does close all 5 of those plants, it'll still have too many

DETROIT — General Motors' monumental announcement on Monday that it will close three car assembly plants and two powertrain plants in North America and slash its workforce will only partially close the gap between capacity and demand for the automaker's sedans, according to a Reuters analysis of industry production and capacity data. Sales of traditional passenger cars in North America have been declining for the past six years and are still withering. After GM ends production next year at factories in Michigan, Ohio and Ontario, it will still have four U.S. passenger-car plants — all operating at less than 50 percent of rated capacity, according to figures supplied by LMC Automotive. In comparison, Detroit-based rivals Ford and Fiat Chrysler Automobiles will have one car plant each in North America after 2019. The Detroit Three are facing rapidly dwindling demand for traditional passenger cars from U.S. consumers, many of whom have shifted to crossovers and trucks. Passenger cars accounted for 48 percent of retail light-vehicle sales in the United States in 2014, according to market researchers at J.D. Power and Associates. This year, sedans will account for less than a third of light vehicle sales. That shift in turn has left most North American car plants operating far below their rated capacities, while many SUV and truck plants are running on overtime. The collapse in passenger-car demand is a challenge for nearly all automakers in the United States, including Japan's Toyota and Honda, which have the top-selling models in the compact and midsize car segments. Toyota executives said last month they are evaluating the company's U.S. model lineup. But Toyota also plans to build compact Corolla sedans at a new $1.6 billion factory it is building in Alabama with partner Mazda. The obstacles facing GM in its plans to close more auto factories became apparent on Tuesday as U.S. President Donald Trump threatened to block payment of government electric vehicle subsidies to GM. While it is not certain that Trump unilaterally has the power to do that, he made it clear he intends to use his office to pressure the company to keep open a small car plant in Ohio that GM says will stop building vehicles in March.