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Cadillac SRX production moving to TN, next-gen Equinox going to Mexico

It's a good week for the town of Spring Hill, TN, as General Motors has announced that its factory in the city of 31,000 will receive a $185 million contract to produce engines. On top of that, the next-generation Cadillac SRX crossover will be built at the factory (NA models are presently built in Ramos, Arizpe Mexico), which was once famous for being the home of GM's now-defunct Saturn brand.
The factory is one of GM's six facilities around the globe that will screw together the company's new line of three- and four-cylinder Ecotec engines. Spring Hill currently builds the 2.0-liter, turbocharged Ecotec, as well as the naturally aspirated 2.4 and 2.5-liter variants.
Spring Hill's vehicle assembly lines were idled in 2009, but were reactivated in 2011. The SRX is just one of the products meant to benefit from last year's $350-million investment, and should have a positive impact, creating or retaining around 1,800 positions at the factory.

GM earnings rise 1% as buyers pay more for popular pickups

DETROIT — General Motors said Thursday that higher prices for popular pickup trucks and SUVs helped overcome slowing global sales and profit rose by 1% in the second quarter. The Detroit automaker said it made $2.42 billion, or $1.66 per share, from April through June. Adjusting for restructuring costs, GM made $1.64 per share, blowing by analyst estimates of $1.44. Quarterly revenue fell 2% to $36.06 billion, but still beat estimates. Analysts polled by FactSet expected $35.97 billion. Global sales fell 6% to 1.94 million vehicles led by declines in North America and Asia Pacific, Middle East and Africa. The company says sales in China were weak, and it expects that to continue through the year. In the United States, customers paid an average of $41,461 for a GM vehicle during the quarter, an increase of 2.2%, as buyers went for loaded-out pickups and SUVs, according to the Edmunds.com auto pricing site. The U.S. is GM's most profitable market. Chief Financial Officer Dhivya Suryadevara said she expects the strong pricing to continue, especially as GM rolls out a diesel pickup and new heavy-duty trucks in the second half of the year. "We think the fundamentals do remain strong, especially in the truck market," she said, adding that strength in the overall economy and aging trucks now on the road should help keep the trend going. Light trucks accounted for 83.1% of GM's sales in the quarter, and pickup truck sales rose 8.5% as GM transitioned to new models of the Chevrolet Silverado and GMC Sierra, according to Edmunds, which provides content to The Associated Press. As usual, GM made most of its money in North America, reporting $3 billion in pretax earnings. International operations including China broke even, while the company spent $300 million on its GM Cruise automated vehicle unit. Its financial arm made $500 million in pretax income. Suryadevara said GM saw $700 million in savings during the quarter from restructuring actions announced late last year that included cutting about 8,000 white-collar workers through layoffs, buyouts and early retirements. The company also announced plans to close five North American factories, shedding another 6,000 jobs. About 3,000 factory workers in the U.S. whose jobs were eliminated at four plants will be placed at other factories, but they could have to relocate. GM expects the restructuring to generate $2 billion to $2.5 billion in annual cost savings by the end of this year.

Book by Cadillac is like a streaming service for cars

Cadillac is launching a subscription-based service that gives users access to most of its models for a flat fee of $1,500 a month. Called Book by Cadillac, the program starts in February in New York City and its surrounding areas. Cadillac's goal: attract users who want flexibility without the costs and commitment of ownership. The monthly fee is steep, but Cadillac argues it's competitive with the cost of leasing a well-equipped luxury car. It also includes maintenance, taxes, and insurance fees. The Book service can also be stopped at any time, which frees users from any payments. There's no restrictions on mileage, though users pay for gas either by filling up the car when they're done with it or through a Caddy concierge who bills their account. Cadillac will deliver and pick up the vehicles from the user's choice of location via a white-gloved driver. Users can change vehicles up to 18 times per year, and they can be reserved with a mobile app. The theoretical goal is a Book user could head to the airport in New York in a Cadillac and reserve another one for their use in Los Angeles. Cadillac ran a test program last year and decided to move forward with Book after receiving a positive response on the price and features. "The overwhelming result is this is something competitive," spokesman Eneuri Acosta said. The program features the Escalade, Escalade ESV, CT6, CTS-V, ATS-V, and XT5 decked-out in Platinum trim. Other vehicles, like the non-V-series ATS or CTS could be added if there's demand. Book by Cadillac starts in New York, but will expand to other unspecified markets. Related Video: