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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.

2.0-liter turbo four reportedly returning to Chevrolet Equinox line-up for 2022

Chevrolet's popular Equinox crossover will enter the 2021 model year with comprehensive updates and a turbocharged, 1.5-liter four-cylinder as its only available engine. The 2.0-liter turbo four offered through 2020 is allegedly leaving the line-up, but it will be replaced for 2022 with a newer engine that produces slightly less power while returning better fuel economy, according to a recent report. Called LSY internally, the new 2.0-liter turbo four already powers the Cadillac XT4, among other models in the General Motors portfolio. Enthusiast website GM Authority learned it will deliver 237 horsepower at 5,000 rpm and 258 pound-feet of torque from 1,500 to 4,000 rpm. For context, the 2.0-liter available through 2020 (known as LTG) made 252 horses and 260 pound-feet of twist, and the 1.5-liter posts figures of 170 and 203, respectively. As a trade-off for the slight drop in horsepower and torque, the LSY is smoother, quieter and cleaner than the LTG it replaces. Transmission options remain unconfirmed, but the four-cylinder will likely shift through a nine-speed automatic. Front-wheel drive will come standard, and all-wheel drive will be offered at an extra cost. Chevrolet hasn't commented on the report; it hasn't even confirmed the Equinox is losing the LTG engine for 2021. If the rumor is accurate, details about the 2022 Equinox should be released during the first half of 2021. GM Authority added the GMC Terrain, which is closely related to the Equinox, will receive the new engine for 2022 as well. Both should have gotten it for 2021, but the on-going global pandemic delayed its launch. Related Video:

GM dealers unhappy about pickup prices

The backlash is beginning. Following General Motors' price hike of the Chevrolet Silverado and GMC Sierra last week, dealers across the country are expressing their ire over increasing prices in the face of rebates and discounts on trucks from Ford and Ram.
Speaking to Automotive News, Sam Pilato, the general manager at Dimmitt Chevrolet in Clearwater, FL, Silverados are "selling very poorly." W. Carrol Smith, the president of Monument Chevrolet in the heart of truck country, Texas, said, "[GM's] position is that the vehicle stands on its own and it doesn't need a bigger rebate. That's not what the market is telling us."
According to AN, that's the general attitude amongst Chevy and GMC dealers across the country, where the twin pickups are getting butchered in sales by competitors offering up to $9,000 off their sticker prices. Part of the problem for GM is that its trucks are arriving on the market near the end of the current F-150's lifecycle, a fact that Ford has taken advantage of.