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GM winding down Chevrolet brand in Europe

If you've taken even a cursory look at GM's European strategy and wondered how it can target the market there with both Chevrolet and Opel/Vauxhall, you're not alone. In fact General Motors itself has found it difficult to justify the two-pronged approach. That's why it's essentially pulling Chevy from the European marketplace.
Instead of trying to ply European buyers with what are mostly former Daewoo products rebadged as Chevys, GM will now let Opel (or Vauxhall in the UK) represent its mass-market aspirations. Chevrolet will keep its presence in Russia and other former Soviet markets, and will continue selling certain niche products in Eastern and Western Europe. The Corvette, for example, has long been sold in Europe through Cadillac dealerships, which for its part is currently "finalizing plans for expanding in the European market".
While the shift in strategy is expected to help GM get a stronger foothold in the European market in the long run, in the short term the restructuring will cost it dearly: between $700 million and $1 billion, according to its own estimates, split between the last quarter of this year and the first half of the next. Jump into the full press release below for more.

Cadillac CT6 gets a plug in Shanghai, will come to US

Don't call it the third coming of the Chevy Volt. The unsurprising debut of the Cadillac CT6 PHEV in Shanghai today has a powertrain that sounds an awful lot like the one that can be found in the Volt and the Cadillac ELR. The plug-in CT6 – identical to the CT6 that debuted in New York earlier this month – has an 18.4-kWh lithium-ion battery (just like the 2016 Volt) and offers an all-electric range of around 37 miles. It also copies the "Regen on Demand" feature from the new Volt and the battery cells "use the latest generation cell chemistry found in other GM plug-in vehicles." But Cadillac President Johan de Nysschen doesn't see the two powertrains as similar in at least one important way. General Motors calls the Volt and the ELR "extended range electric vehicles" (EREV) but in a statement, de Nysschen says that the plug-in hybrid CT6 is, "an ideal platform for Cadillac to offer its first plug-in hybrid." That GM is using the PHEV terminology rather than EREV is going to be important to some, even if the practical difference is only semantic. And yes, we all understand the irony of de Nysschen – the same guy who has a history of speaking ill of plug-in cars – hyping them now. Back when he worked for Audi, he said the original Volt was too expensive for what it offered and was thus, a car for "idiots." Speaking in Shanghai today, de Nysschen said the new CT6 PHEV was, "an EV without any of the disadvantages or range constraints," according to Automotive News. If the batteries are similar to GM's other EREV/PHEV cars, the CT6 powertrain is at least different. The ELR uses a 1.4-liter engine, while the new Volt has a 1.5-liter four-cylinder mill. The CT6, on the other hand, has a 2.0-liter turbo four-cylinder engine with direct injection. There is also an "all-new rear wheel electric variable transmission (EVT) with exclusively designed motors," that will give the CT6 PHEV, "smooth, spirited acceleration." The EVT is a two-motor-unit that uses three planetary gears. Maximum overall system output is 335 horsepower and 432 pound-feet of torque. Perhaps most interesting for American audiences is the fact that GM's press release, available below, makes multiple references to US-market sales of the PHEV. Official details on the EV range and fuel economy will be made available closer to the car's US launch.

GM laying off more than 4,000 workers Monday morning

According to reports from Automotive News, The Detroit News, and CNN, General Motors plans to begin laying off more than 4,000 salaried workers starting Monday morning. In a statement to AN, a spokesperson for the automaker said, "We are not confirming timing. Our employees are our priority. We will communicate with them first." We've been expecting layoffs at General Motors since November, 2018. At the time, the Detroit-based automaker announced it would seek to shed 8,100 salaried employees, shut down five assembly plants in North America, and kill off several slow-selling models. One month earlier, GM offered buyout packages to 18,000 workers and said it would seek to cut its global workforce by 25 percent. A spokesperson said at the time the moves were "proactive steps to get ahead of the curve by accelerating our efforts to address overall business performance." The cost-cutting moves are expected to save GM up to $2.5 billion in 2019 and as much as $6 billion by 2020. David Kudla, CEO and chief investment strategist of Mainstay Capital Management, referred to the impending culling as "Black Monday" and told The Detroit News that the layoffs would begin around 7:30 a.m. and continue in waves throughout the coming days and weeks. GM plans to deliver on its fourth-quarter and full-year 2018 earnings report on Wednesday. President Donald Trump plans to deliver the annual State of the Union address a day earlier on Tuesday. We expect to hear plenty more from both sides over the next several days.