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GM to idle car production at five factories as Americans continue CUV love affair

In case you needed another reminder that Americans have fallen out of love with sedans, General Motors today announced plans to idle five factories in January in a bid to cut its inventory to 70 days. Detroit-Hamtramck Assembly ( Buick LaCrosse, Cadillac CT6, Chevrolet Volt and Impala) and Fairfax Assembly in Kansas ( Chevy Malibu) will stop production for three weeks. Lansing Grand River ( Cadillac ATS and CTS, and Chevy Camaro) is going down for two weeks, while Lordstown, OH ( Chevy Cruze) and Bowling Green, KY ( Chevy Corvette) will go idle for a week each, Automotive News reports. GM's shutdown reflects a broader problem with the company's supply – at 847,000 vehicles, the company's supply increased unsteadily from a low of 629,000 units in January of 2016. That's more than a 25 percent increase in the past year. Citing information from Autodata, The Detroit News reports that at the end of November, GM had a 168-day supply of LaCrosses, 177 days' worth of Camaro, 170 days of Corvette, 121 days for Cruze, 119 days for ATS, 132 days for CTS, and 110 days of CT6. Meanwhile, inventory of the company's more popular vehicles is actually below the professionally accepted 60- to 70-day supply, The News reports. The Trax, Colorado pickup, and GM's full-size SUVs are sitting below 50 days and experiencing year-over-year sales increases. GM needs a rethink of its inventory levels, which is something that's apparently coming. "We're going to be responsible in managing our inventory levels," GM spokesman Jim Cain told The News. Another unnamed spokesman told Automotive News the company's day-to-day supplies would "fluctuate before moderating at year-end." But at least one analyst thinks this won't be the last time Detroit needs to stop production to level things out. "Incentives are elevated, residuals are declining, and rates are rising," Brian Johnson, an analyst with Barclays, told The News. "And while GM in particular may benefit in the months ahead from new product launches, it's important to recognize that GM's inventory is elevated at the moment, and it wouldn't surprise us if they need to announce another production cut – which could pressure the stock." Related Video: News Source: The Detroit News, Automotive News - sub. req.Image Credit: Paul Sancya / AP Plants/Manufacturing Buick Cadillac Chevrolet GM GMC Crossover SUV Sedan bowling green cadillac xt6 fairfax

Why the Corvette is Chevrolet's billion-dollar baby

Edmunds has worked up a piece that tries to figure out just how much the global Chevrolet Corvette economy is worth, a spitballed guesstimate putting the number at more than $2.5 billion with the proviso that the number is probably low. It starts by taking Corvette's new car sales of 14,132 units last year, which would equate to $714,725,900 (including destination) assuming ever car sold was a base coupe with no options. In the final tally, a little extra padding gets that number up to $750,000,000.
But that's not all. Consider this: Many of the almost 1.4 million Corvettes produced over the model's history are still on the road. There are new parts being produced and aftermarket companies like Mid-America Motorworks deaing business, that single Illinois company doing more than $40 million a year in sales. There are the Corvette events large and small, restorers who do nothing but Corvettes, salvage yards that deal only in used Corvette parts and the Corvette magazines where owners find all this stuff.
And then there are the Corvette-themed tchotchkes, every single one of which provides a tiny contribution to the huge licensing royalties that General Motors collects every year. The article admits there's no way to come to an accurate number, but it just goes to show how valuable one specific model can be to a company.

GM recalling 1.4 million older vehicles for oil leak fire risk

General Motors is recalling 1,411,332 older vehicles with its 3.8-liter V6 yet again due to a fire risk. Specifically, there are 1,283,340 of them in the US, and the affected models are the: 1997-2004 Pontiac Grand Prix 2000-2004 Chevrolet Impala 1998-1999 Chevrolet Lumina 1998-2004 Chevrolet Monte Carlo 1998-1999 Oldsmobile Intrigue 1997- 2004 Buick Regal The fault with these vehicles is that oil can drip onto the hot exhaust manifold during hard braking, which can potentially cause of fire. In the last six years, there have 19 reported minor injuries from this problem but no crashes or fatalities, according to the company. Spokesperson Alan Adler also told Autoblog: "GM has reports of 1,345 fires in vehicles that were repaired under two previous recalls for this issue." At this time, GM is still developing a remedy for the problem. According to Adler, the company advised owners to park these vehicles outside for the previous recalls. "The cars can be safely driven. In cases where a customer reported an engine fire while driving, smoke was reported, which would be an indication of a malfunction," he said. This is GM's fourth recall for this problem since 2008, according to The Detroit News. At one point it was believed that aging valve cover gaskets allowed the oil to leak out and drip onto the manifold. A campaign in 2009 covered nearly 1.5 million of these models through the 2003 model year for the same issue. At the time, dealers installed new spark plug wire retainers as a fix. Related Video: GM Statement: General Motors is recalling 1,283,340 older sedans and coupes in the U.S. from the 1997 to 2004 model years because drops of oil may be deposited on the hot exhaust manifold through hard braking, which can cause engine compartment fires. GM is working on a remedy. The company is aware of post-repair fires in some vehicles but no crashes or fatalities. There have been 19 reported minor injuries over the last six years. These vehicles with 3.8-liter V6 3800 engines are affected: 1997-2004 Pontiac Grand Prix, 2000-2004 Chevrolet Impala, 1998-1999 Chevrolet Lumina and 1998-2004 Chevrolet Monte Carlo, 1998-1999 Oldsmobile Intrigue and 1997-2004 Buick Regal. Including Canada, Mexico and exports, the total population is 1,411,332.