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GM promises to add 20 EVs and fuel-cell cars to lineup, paid for by SUVs

DETROIT — General Motors outlined plans on Monday to add 20 new battery electric and fuel-cell vehicles to its global product lineup by 2023, financed by robust profits from sales of gasoline-fueled trucks and sport utility vehicles in the United States and China. "General Motors believes in an all-electric future," GM global product development chief Mark Reuss said on Monday during a briefing at the company's suburban Detroit technical center. Future generations of GM electric vehicles "will be profitable," Reuss said, but added it was not clear when GM could make all its new vehicle offerings zero-emission electric cars. Regulators in China and some European countries have floated proposals to ban internal combustion engines by 2030 or 2040. "We will continue to make sure our internal combustion engines will get more and more efficient," Reuss said. GM shares were up more than 4 percent in midday New York trading on positive comments from Rod Lache, auto analyst at Deutsche Bank. Automakers, including electric vehicle market leader Tesla, lose money on electric cars because battery costs are still higher than comparable internal combustion engines. The company offered sneak peeks of three EV prototypes: a Buick SUV, a sporty Cadillac wagon and a futuristic pod car wearing a Bolt badge. GM funds its forays into new technology using a river of cash generated by old-technology vehicles popular with its core customer base in the United States heartland. In comparison, Tesla has burned through an estimated $10 billion in cash and has yet to show a full year profit. GM earned more than 90 percent of its $12.5 billion in pretax profits last year in North America, amid robust demand for its lineup of large sport utility vehicles and pickup trucks. The company's profitable operations in China rely on consumer demand for an expanding lineup of gasoline powered SUVs. GM has previously announced plans to make some of its future electric vehicles capable of driving themselves in robot taxi fleets. The company offered sneak peeks of three electric vehicle prototypes: a Buick brand sport utility vehicle, a sporty Cadillac wagon and a futuristic pod car wearing a Bolt badge. GM collaborated with Korean battery maker LG Chem to build the Bolt battery system. Company officials did not say what companies would supply batteries for the larger fleet of vehicles promised by 2023. Fuel-cell vehicles will also play a role in GM's future, the company said.

2023 GMC Sierra HD MSRP up at least $1,000

Once Chevrolet bumped up the 2023 Silverado and Silverado HD MSRPs by $1,000, there was no reason to think luxury cousin GMC wouldn't do the same. The proof is here, pricing for the 2023 GMC Sierra HD up on its configurator with premiums of at least $1,000 over 2022 models. As we mentioned of the Silverado, the Sierras have also tracked with the price increases we mentioned in reference to the Chevrolets; the 2022 Sierra 1500 has run up $4,700 over its cost last October, the 2022 Sierra HD is $4,100 more than it was when it hit lots last summer. That puts a 2023 Sierra HD 2500 Regular Cab long bed with two-wheel drive and the 6.6-liter V8 gas engine at a starting price of $42,995 after the $1,795 destination charge, $1,000 beyond the 2022 pickup. At the top, a Crew Cab long bed Denali with four-wheel drive and the 6.6-liter Duramax V8 starts at $83,845, which is $1,250 more than the same rig from the 2022 model year. Moving up a weight class to the Sierra 3500, the price of entry starts $1,000 more than before at $44,195. The big bad boy 3500 Denali 4WD dually starts $1,200 more than before, at $86,245. The situation's a bit cloudier when we step down two classes to the 1500. GM Authority got the price sheet for the 2023 Sierra 1500 and reports that prices are up $1,000 on most trims, but $900 up on the Denali Ultimate and $1,900 up on the AT4. GMC hasn't uploaded the configurator for the 2023 trucks yet, and GMA's price sheet is hard to parse against prices on the 2022 configurator because the end of the model year and supply chain issues have translated into mandatory discounts that can't be accounted for. For instance, the 2022 Sierra 1500 Regular Cab standard box in entry-level Pro trim has an MSRP of $40,000, yet the configurator shows the total vehicle and options price as $39,950. After the $1,795 destination charge, that comes to $41,745. Then there's a mandatory package discount of $1,500, taking the final price before any other fees to $40,245. Meanwhile, GMA's paperwork shows the 2023 price starting at $40,020 after destination, which isn't $1,000 more than any figure on the configurator. At the top end, the 2022 Denali with the Crew Cab, standard box, 4WD, and 6.2-liter V8 comes out to $71,695, only because the front and rear park assist and steering column lock aren't fitted, resulting in a $100 discount.

May 2016: FCA wins, Ford and GM stumble on weak car volumes

The May 2016 sales numbers are in, and it looks as though FCA is getting some vindication for boldly cancelling two slow-selling car models. Meanwhile, Ford saw overall sales dip and GM's May volume took a big dive versus the same month in 2015. While Marchionne's decision to axe the Chrysler 200 and Dodge Dart has drawn criticism as being short-sighted, it's working for FCA so far. Although the Dart and 200 aren't out of production yet and no capacity has been shifted to crossover or trucks, May's numbers show that the emphasis on Jeep and Ram models makes sense right now. FCA's US sales rose 1 percent last month compared to May 2015, putting the year-to-date total at 955,186 vehicles, an increase of 6 percent compared to the same period last year. Standouts included the Jeep Renegade, Compass, and Patriot, and the Fiat 500X. Ram pickup sales were down 3 percent. And your fun fact is that Alfa Romeo sales were up precisely 10 percent, for a total of 44 4Cs sold versus 40 in the same month last year. At FoMoCo, the Ford brand took a hit to the tune of 6.4 percent from May 2015 to 2016, registering 226,190 sales last month. Lincoln showed improvement on its modest numbers, going from 9,174 to 9,807, a 6.9 percent increase. Overall, Ford was down 5.9 percent for the month to 235,997; despite the slump, year-to-date total Ford sales are up 4.2 percent to 1,112,939. Strong sellers included Escape, Expedition, F-Series, and Transit - big stuff. Most small and/or efficient models (Fiesta, Focus, Fusion, C-Max) saw sales slides. Fusion sales were also down, likely due to effects of model changeover to the freshened 2017 model. Ford has promised four new crossovers and SUVs by 2020 and if things keep trending this way the company will be able to sell them, but things could change in the next four years. GM saw the worst of it for domestic brands. Retail and fleet sales were down for each of the four divisions, with the May 2016 total dropping 18 percent to 240,450 vehicles. GM's year-to-date sales are down 5.0 percent in 2016 to 1,183,705. Both the Sierra and Silverado were down significantly, and the majority of Chevy, Buick, GMC, and Cadillac nameplates saw sales decreases, with both small cars and larger utilities included. Not even big stuff could help GM this month, it seems. We'll have more on the rest of the industry's May sales as those figures trickle in.