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GM announces six new recalls, covering 3.5 million vehicles

General Motors has just initiated another crushingly large recall, this time affecting some 3.36 million vehicles built between 2000 and 2014 and sold in the US, Canada and Mexico. Once again, the issue surrounds the cars' ignition switches, which can be kicked out of the run position if they're carrying extra weight or if they experience a "jarring" event. In this particular case, though, GM will modify the keys, rather than the ignition itself.
A four-by-six-millimeter hole will be drilled into the key, which will more safely accommodate the weight of the key ring. As is usually the case, the work will be done free of charge. The recalled vehicles include the 2000 to 2005 Cadillac Deville, 2004 to 2005 Buick Regal LS and GS, 2004 to 2011 Cadillac DTS, 2005 to 2009 Buick Lacrosse, 2006 to 2008 Chevrolet Monte Carlo, 2006 to 2011 Buick Lucerne and 2006 to 2014 Chevrolet Impala. Only the Impala is still in production, and even then, it's only sold to fleet companies.
According to an official statement from GM, there have been eight crashes and six injuries due to this latest issue. As if this isn't a dire enough blow for GM, the company has announced five smaller recalls, covering 165,000 vehicles.

U.S. new-vehicle sales in 2018 rise slightly to 17.27 million [UPDATE]

DETROIT — Sales of new vehicles in the U.S. rose slightly in 2018, defying predictions and highlighting a strong economy. Automakers reported an increase of 0.3 percent over a year ago to 17.27 million vehicles. The increase came despite rising interest rates, a volatile stock market, and rising car and truck prices that pushed some buyers out of the new-vehicle market. Industry analysts and automakers said strong economic fundamentals pushed up sales and should keep them near historic highs in 2019. "Economic conditions in the U.S. are favorable and should continue to be supportive of vehicle sales at or around their current run rate," Ford Chief Economist Emily Kolinski Morris said after the company and other automakers announced their sales numbers Thursday. That auto sales remain near the 2016 record of 17.55 million is a testimonial to the strength of the economy, said Mark Zandi, chief economist at Moody's Analytics. The job market, he said, has created new employment, and wage growth has accelerated. "That's fundamental to selling anything," he said. "If there are lots of jobs and people are getting bigger paychecks, they will buy more." The unemployment rate is 3.7 percent, a 49-year low. The economy is thought to have grown close to 3 percent last year, its best performance in more than a decade. Consumers, the main driver of the economy, are spending freely. The Federal Reserve raised its key interest rate four times in 2018 but is only expected to raise it twice this year. Auto sales also were helped by low gasoline prices and rising home values, Zandi said. It all means that people are likely to keep buying new vehicles this year even as they grow more expensive. The Edmunds.com auto-pricing site estimates that the average new vehicle price hit a record $35,957 in December, about 2 percent higher than the previous year. It will be harder for automakers to keep the sales pace above 17 million because they have been enticing buyers for several years now with low-interest financing and other incentives, Zandi said. He predicts more deals in the coming year as job growth slows and credit tightens for higher-risk buyers. Edmunds, which provides content, including automotive tips and reviews, for distribution by The Associated Press, predicts that sales will drop this year to 16.9 million.

GM cutting vehicle trim options to save money for electrification

Information continues to filter out about GM's plans based on comments the automaker made during its Capital Markets Day event in February. GM President Mark Reuss said the company's push to save money by rationalizing the number of build combinations will continue in 2020, carrying on the work done in 2019. As GM Authority covers, last year, the carmaker cut 3,500 components across model lines, a 12% drop in the number of parts it needed to stock in its plants. Reuss used the next-generation Chevolet Equinox and GMC Terrain as examples for more cost efficiencies, saying build possibilities — which include international markets and their options — will be cut by more than 50%, and use more shared parts. "We will reduce total trim levels on Equinox and Terrain from eight to six," Reuss said, "reduce engine variants from 11 to 5, reduce build combinations from more than 200 to less than 100 per program, and see significant cost savings of an already paid-for architecture that took the mass out, helping us self-fund electrification programs." GM will plow a large amount of the money it saves into its ambitious EV program. In 2017, the automaker said it intends to have 20 electric vehicles on the market by the end of 2023, some of which could be shared between brands. An automotive analyst at Seeking Alpha and a piece in Automobile attempted to put specifics to what we should expect. As Automobile points out, the first two EVs in the 20-car program are already on sale, being the Ariv Meld and Ariv Merge eBikes available in Belgium and The Netherlands. We've seen the Cruise Origin autonomous rideshare taxi, although we don't know when it will hit the road. The next three, which we should see in the metal shortly, are two Cadillac EVs and the GMC Hummer EV pickup. The Cadillac pair are expected to be sized like the XT4 and XT5, and along with the Hummer, should hit the market starting in late 2021.