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GMC Canyon AT4X rumored to get more extreme AEV Edition

When GMC debuted the new 2023 Canyon pickup in August, the midsize lineup gained the hardcore AT4X off-road trim the brand has been spreading throughout its wares. The new top-of-the-line model is GMC's version of the Chevrolet Colorado ZR2 and features the same off-road goodies, like the Multimatic DSSV suspension, unique front fascia, more skid plates, front and rear locking differentials, and a Baja drive mode turning the 33-inch tires. The Edition 1 launch model adds to the production goods by bolting on a front safari bar with a 30-inch light bar, a Comeup winch, an upgraded front skid plate, reconfigurable bed rails, front and rear underbody cameras, and special badging. The Canyon AT4X Edition 1 was gone almost immediately, because of course. However, Muscle Cars & Trucks reports that something just as special could be coming for buyers in the form of a Canyon AT4X AEV Edition. American Expeditionary Vehicles already breathed all over the last-gen Chevrolet Colorado and the current Chevy Silverado, looks like GM not only intends to keep the relationship going but expand it. MCT credits a source for news that the AEV-worked Canyon will get a snorkel and 35-inch tires. Chevrolet offered a snorkel as an aftermarket piece for the Colorado ZR2 Bison, and AEV sold a ZR2 Bison version with a snorkel attached. The new report claims GMC will make the elephant trunk a factory option, fitted to the driver's side this time instead of the passenger's side because of the new engine. The 35-inch tires would be a huge add-on, giving the Canyon the same kind of footprint as the Jeep Wrangler Rubicon Xtreme Recon and a couple of Ford Bronco trims. The additional two inches over the 33-inch tires on the AT4X make a big difference when the trail gets dicey. MCT says the AEV will get the same bumper as the Edition 1, which means a reduced approach angle in return for an integrated winch. The standard AT4X bumper permits a 36.9-degree approach angle, the winch-equipped Edition 1 drops that to 32.8 degrees. It's not clear which winch would hide behind that bumper, though. GMC factory fit is the Comeup Seal Slim 9.5rs rated at 9,500 pounds. AEV offers a Warn 9.5 XP-S with the same weight rating for its Colorado ZR2 Bison.  Speaking of which, since the Colorado arguably started all this, Chevy fans can expect their midsizer to acquire the same bundle as the Canyon AT4X AEV.

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.

Frustrated GM investors ask what more Mary Barra can do

DETROIT — General Motors Co Chief Executive Mary Barra has transformed the No. 1 U.S. automaker in her almost five years in charge, but that is still not enough to satisfy investors. Ahead of third-quarter results due on Oct. 31, GM shares are trading about 6 percent below the $33 per share price at which they launched in 2010 in a post-bankruptcy initial public offering. The Detroit carmaker's stock is down 22 percent since Barra took over in January 2014. After hitting an all-time high of $46.48 on Oct. 24, 2017, the shares have declined 33 percent. In the same period, the Standard & Poor's 500 index has climbed 7.8 percent. Several shareholders contacted by Reuters said GM could face a third major action by activist shareholders in less than four years if the share price does not improve. "I've been expecting it," said John Levin, chairman of Levin Capital Strategies. "It just seems a tempting morsel to somebody." Levin's firm owns more than seven million GM shares. Barra has guided the company through the settlement of a federal criminal probe of a mishandled safety recall, sold off money-losing European operations, and returned $25 billion to shareholders through dividends and stock buybacks from 2012 through 2017. GM declined to comment for this story, but the company's executives privately express frustration with the market's reluctance to see it as anything more than a manufacturer tied mainly to auto market sales cycles. GM's profitable North American truck and SUV business and its money-making China operations are valued at just $14 billion, excluding the value of GM's stake in its $14.6 billion Cruise automated vehicle business and its cash reserves from its $44 billion market capitalization. The recent slump in the Chinese market, GM's largest, and plateauing U.S. demand are ratcheting up the pressure. GM is one of the few global automakers without a founding family or a government to serve as a bulwark against corporate raiders. In 2015, a group led by investor Harry Wilson pressed GM to launch a $5 billion share buyback, and commit to what is now an $18 billion ceiling on the level of cash the company would hold. In 2017, GM fended off a call by hedge fund manager David Einhorn to split its common stock shares into two classes. Einhorn, whose firm still owned more than 21 million shares at the end of June, declined to comment about GM's stock price. Other investors said there were no clear alternatives to Barra's approach.