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GM admits goal of 500,000 EVs by 2017 won't be met

After a little over four years of Chevy Volt sales, General Motors has a better handle on how many people it expects will buy cars with plugs. And it's less than the company thought back in 2012, when then-senior vice president of global product development, Mary Barra, said that GM expected to sell 500,000 "vehicles with electrification" by 2017. In a sustainability report released this week, GM says that half-million vehicle target will not be met but that it still, "believes the future is electric." In the report, GM says that, "For our commitment to electrification, our forecasted outlook currently projects us, along with the broader automotive industry, falling short of expectations for 2017. ... We continue to aspire to our stated goal." GM's electric lineup includes the Volt, the recently popular Spark EV, the slow-selling Cadillac ELR and upcoming Malibu Hybrid, CT6 plug-in hybrid and eAssist technology in the Buick LaCrosse and Regal. GM says it has 180,834 electrified vehicles on the road in the US today. In 2013, it had 153,034; 95,578 in 2012, and 39,843 in 2011. The company's next big plug-in vehicle will be the second-gen Chevy Volt, which is coming to market later this year, followed by the 200-mile Bolt EV coming, we think, in 2017. GM Employees on Mission to Transform Transportation Sustainability report outlines vehicle and manufacturing progress; sets new targets 2015-05-07 DETROIT – General Motors' just-released sustainability report chronicles efforts by the company's 216,000 employees to live out GM's newly defined purpose and values by earning customer loyalty, applying meaningful technology advances and improving the communities where it does business. These actions – led by CEO Mary Barra – further drive sustainability into the company's culture through building safer and smarter vehicles with less environmental impact. "GM will take a leading role in the auto industry's transformation as it undergoes an unprecedented period of change," said Bob Ferguson, senior vice president, GM Global Public Policy. "From GM's labs to its assembly lines, our people are driving the world to a better place through improved mobility." The company believes the future is electric, with billions of investment to support an all-in-house approach to the development and manufacturing of electrified vehicles. It now counts 180,834 on the road in the U.S – up from 153,034 in 2013.

SRX-replacing Cadillac XT5 spied for the very first time

Cadillac has got big plans in place to revitalize its lineup, with new sedans, coupes and crossovers. And it all starts with this, the replacement for the SRX.
Expected to be called XT5 in line with the brand's new naming scheme, the crossover will be based on a scalable new platform called C1XX - or Chi, for short. In its shorter form, Chi is anticipated to underpin the XT5 as well as a new Chevy crossover and the next-gen GMC Acadia. In long-wheelbase form, the platform is slated to give us a larger Cadillac crossover as well as a new Buick Enclave and Chevy Traverse.
Power in the XT5 will be provided by a choice of turbo four or atmospheric six, potentially to be transmitted through GM's new nine-speed automatic.

GM will stop reporting monthly U.S. vehicle sales

DETROIT — General Motors said on Tuesday it will stop reporting monthly U.S. vehicle sales, saying the 30-day snapshot does not accurately reflect the market, and will instead issue quarterly sales. GM will also no longer report monthly sales in China, its largest market, and Brazil. GM will provide monthly data to the U.S. Federal Reserve, industry associations and government agencies across the globe, but that data is not made public. Analysts and investors rely on monthly U.S. vehicle sales not just to track the performance of individual automakers, but as a barometer of the health of the world's second-largest auto market and as an indicator of consumer confidence in the U.S. economy overall. GM and its Detroit rivals Ford and Fiat Chrysler have relied heavily on sales of high-margin pickup truck and SUV sales to boost profits. GM's total U.S. sales, its second-largest market, are down 3.2 percent for the first two months of 2018, reflecting a 6.8 percent drop in retail sales to individual customers, the company reported last month. GM executives have expressed frustration that comparisons of monthly U.S. sales results among rival automakers are distorted by short-term discount programs, and by differences in strategy for selling vehicles in bulk to rental car fleets. "Thirty days is not enough time to separate real sales trends from short-term fluctuations in a very dynamic, highly competitive market," Kurt McNeil, U.S. vice president for sales operations said in a statement. GM's actions could prompt other automakers to also switch to quarterly U.S. sales reports. Major automakers will report March U.S. new vehicle sales on Tuesday. Until the early 1990s, most U.S. automakers released sales results every 10 days. The former Chrysler Corp. stopped reporting sales on a 10-day basis in 1990, and rivals followed suit over the next three years. GM executives are betting that investors will quickly adapt to receiving U.S. sales data every three months, as investors in other retail sectors already have. Retailers such as Walmart report sales on a quarterly basis. Reporting by Joe WhiteRelated Video: Image Credit: Reuters Earnings/Financials Green Buick Cadillac Chevrolet GM GMC US