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Black Friday could power record November sales

Black Friday allows some shoppers to line up in the wee hours for doorbuster deals on laptops and TVs, but the day after Thanksgiving could mean huge profits for automakers this year, too. Multiple industry analysts predict record growth for the industry for November, and the upcoming incentives could help those numbers. TrueCar predicts that Black Friday incentives could provide a major boost, and it estimates a November sales jump of 3.9 percent from last year to a record for the month at over 1.35 million vehicles. As examples of potential deals, Chevrolet, Buick, and GMC plan to offer up to 20 percent off some models, and FCA US has no-interest financing for up to 75 months from its brands. "Consumers are excited about Black Friday promotions and these month-long events appear to be resonating with car buyers." Eric Lyman, TrueCar's vice president of industry insights, said in the report. Black Friday only recently became a big day for auto sales, according to an analysis from Edmunds. Last year, Thanksgiving weekend posted double the sales as any other weekend in the month. The company predicts a sales volume of over 1.33 million vehicles for November. If that happens, it would be the beat the previous record of 1.32 million sales for the same month in 2001. Some forecasts temper the gains for November but only slightly. Kelley Blue Book predicts flat year-over-year sales at 1.3 million vehicles, but that's largely because there are two fewer sales days in 2015 versus in 2014. "Black Friday deals on vehicles have grown in popularity in recent years, and should be a big contributor to this month's sales results," said analyst Tim Fleming in the study. The combined research from J.D. Power and LMC Automotive have the lowest November prediction among this group at just over 1.279 million sales for the month versus 1.299 million in 2014. However, once the researchers adjust the figures for the two fewer selling days, 2015 could actually be seven percent higher than last year. TrueCar Finds New Auto Sales in November to Reach Monthly Record Black Friday promotions bolster sales gains; industrywide incentives up 6% from last year November 24, 2015 12:11 PM Eastern Standard Time SANTA MONICA, Calif.--(BUSINESS WIRE)--TrueCar, Inc. (NASDAQ: TRUE) projects total new vehicle sales, including fleet deliveries, will reach 1,352,500 units in November, a 3.9 percent increase from a year ago and the highest ever for the month.

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.

GMC caught using Rivian R1T image for Sierra Denali EV Photoshop

The rise of electric start-ups have many legacy automakers checking their rear view mirrors as they scramble to join the EV party. Most wouldn't like to admit it publicly, but we know that at least some folks at General Motors are keeping an eye on Rivian. That's because a recent post on social media account by the General Motors design department appears to have used an image of the Rivian R1T, but heavily photoshopped. The post was intended as a peek of the GMC Sierra Denali EV's rear view. Eagle-eyed observers like AllCarNews soon noticed many familiar elements to the rendering, including the wheels and tires, mirrors and doors. Even the backgrounds are identical, including some leaves that the truck is kicking up. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Seen side by side, the two pickups' similarities don't end there. The Sierra EV is wider, but the cab's rear pillars and glass look the same as the Rivian's, just stretched horizontally. The rear bumper and its license plate cutout and reflectors on either side look a bit too close for comfort as well.  The post as since been deleted. A GM spokesperson explained the situation to The Drive, "The GM Design Instagram channel is meant to give followers an inside look at the process of designing new products and the creative teams behind it. Often, these posts use sketches made for internal studio use during design development. The sketch in question was intended for internal use only, and was posted without the necessary approval. It has been removed from the GM Design Instagram page." Automakers often use products from the competition as benchmarks or design inspiration. Designers sometimes use existing images as a starting point as well, in order to quickly get an idea down "on paper". They just tend to do it in private. A juggernaut like GM using an image from an upstart like Rivian is embarrassing for the General, but surely an ego boost for the EV brand.  When dealing with an up-and-comer, perhaps it's best to take a page from Mad Men's Don Draper. In season four of the advertising drama, a newspaper calls the hot shot exec for a quote, after a young rival publicly says he's gunning for Draper. Draper knows exactly who the reporter is talking about but when asked for comment says, "Never heard of him." Related Video This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.