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GM to sink over $900M into 4 plants, mostly for a new V8

FLINT, Mich. — General Motors says it will spend more than $900 million to update four factories, with the bulk going to an engine plant in Flint, Michigan, to build the next-generation V8 for big pickup trucks and SUVs. Factories in Rochester, New York; Defiance, Ohio; and Bay City, Michigan, also will see investments, some to make V8 engine components as well as parts for future electric vehicles, the company said Friday. The investments won't create any new jobs, but they will preserve about 2,400 hourly and salaried positions positions at the four sites, the company said. The investments “provide job security at these plants for years to come,” Gerald Johnson, GM's manufacturing chief, said in a statement. Much of the money, $579 million, will go to Flint Engine Operations for equipment to build the sixth-generation small-block V8 that will go into the next round of big pickup trucks and SUVs. The plant now employs about 700 people who also will keep making their current product, a diesel engine used in light trucks. GM, like other automakers, is facing stricter government fuel economy standards and pollution limits starting in the 2024 model year. New vehicles sold in the U.S. will have to average at least 40 miles per gallon of gasoline in 2026, up from about 28 mpg, under new Biden administration rules that undo a rollback of standards enacted under former President Donald Trump. That means the new V8 will have to get better mileage and pollute less than the current versions. Although GM wouldn't release details on the new engine, Johnson said during a news conference at the Flint plant that it would be more efficient than the current version. GM has a goal of selling only electric passenger vehicles by 2035, but Johnson said that's a dozen years out, a period when many customers will still want gas engines. “We know that has a horizon,” he said. “Between here and there, there are a lot of internal combustion customers that we don't want to lose,” he said. In addition to Flint, GM's engine components plant in Bay City, Michigan, will get $216 million to build camshafts and connecting rods, and to machine engine blocks and heads for the new V8 being built in Flint. The plant now employs about 425. The Defiance, Ohio, foundry will get $55 million to build a variety of block castings for the new V8. Included is $8 million for castings to support future electric vehicles, the company said. The plant has about 530 employees.

Porsche 911 tops a list of must-have classics, but No. 2 is more of a surprise

No surprise here: In Europe, the Porsche 911 is the most sought-after classic car. Surprise here: Slip-streaming the 911 in the most sought-after chart compiled by the Car & Classic marketplace is the Ford Mustang. Using the Google search engine as a means to pick the winners, as well as the average prices achieved on the “Car and Classic” website, the venerable 911 was tagged 1.45 million times per month according to data stretching back 15 years. The number of 911Â’s sold though the C&C marketplace was 21,141, at an average price of 58,409 pounds, or $74,300. FordÂ’s pony car, still a popular choice for buyers in Europe, placed second on the list with 1.2 million monthly searches. The average sales price over 15 years was 31,107 pounds ($39,570), and the number of older Mustangs sold reached a total of 8,332. Models that also finished among the charted top 10 include the Land Rover Range Rover, the Corvette, the ultra-classic British favorite Jaguar E-Type and the BMW 3 Series. “Whilst a 1973 Porsche 911 Carrera 2.7 RS could set you back the best part of GBP500,000 ($636,000), there are many more affordable models, which bring the average sale price of a 911 on Car & Classic to GBP58,000 ($73,800) – the third highest average selling price of any make and model on the site,” explained Dale Vinten of Car & Classic. According to the site, the Jaguar fetched the highest average selling price: a whopping 89,000 pounds, or $113,000. But thatÂ’s peanuts compared to a Series 1 Roadster in excellent condition, said Vinten. For that, “you can expect to spend up to GBP250,000 ($318,000), A Series 2 or 3 will cost less, as they are not as desirable, but in decent condition you can expect to pay around GBP40,000-GBP50,000. Even a barn find 1969 E-Type Series 2 Roadster can set you back to the tune of GBP33,000 ($42,000)." Launched in 2005, Car & Classic is among EuropeÂ’s most popular classic car clearinghouses. It also runs a stand-alone auction site.

2016 Chevrolet Malibu First Drive [w/video]

You have to appreciate honesty in this business. When a car company admits its offering in a segment isn't up to the task, it catches you by surprise. The surprisingly open Chevy reps stopped short of saying that making the last Malibu smaller was a mistake, but given that the righting of the ship included a lengthening of this new model, it was certainly implied. The eighth-generation Malibu lasted only three years, with a major update coming just one year in to try and fix some of the bigger concerns. The goal for the 2016 Malibu wasn't to make a competent product better, it was to make an okay one good again. That started with a stretch. The Malibu is long again, a big car that meets America's warped idea of a midsized car. Because of this, the Malibu's dimensions sidle up to the Impala's. In fact, it's within a fraction of an inch of the Impala's wheelbase measurement, and sits right between the last Malibu and the Impala in terms of EPA passenger volume. The back seat gets the most of the payoff, bringing it back into competition with other midsized counterparts. The Malibu is now one of the longest in the segment, but also among, if not the, lightest. The 2016 model is claimed to be about 300 pounds lighter than its dimensionally challenged predecessor. While most new models tend to choose between lighter or larger these days, Chevy managed not-insignificant improvements to both. Styling doo-dads no longer separate the trim levels, it's the features inside that fuel the upsell. Some of that weight came out of the front end. The aluminum hood is lighter than before, and we'd wager that's because it stops very short of the leading edge of the car. Instead, the nose is enshrouded in a big plastic fascia, which has to be an advantage at the scales but creates a somewhat unfinished look. That's amplified by the fact that everything ahead of the hood is a bit busy, and actually surprisingly aggressive, in contrast to the rest of the design. The new Cruze, with its cowl-to-grille hood, wears a more cohesive new-Chevy front end. The styling adopts the, dare we say it, coupe-like look of many (most?) new family sedans. The profile is attractive enough but almost generic now since the Chrysler 200, Ford Fusion, and others have already moved in this direction. The rear-end styling is inoffensive, almost original Mercedes CLS meets current Impala.