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GM to build next-gen Chevy Cruze in Mexico

As one of its global products, General Motors builds the Chevy Cruze for local consumption at assembly plants around the world: in Australia, South Korea, Vietnam, Thailand, China, India, Kazakhstan, Russia, Brazil and Ohio. The automaker is expected to trim those locations for the next generation of its compact sedan, but its latest announcement has it adding a new site to the list: Mexico. As part of a $350-million investment, GM's plant at Ramos Arizpe in Coahuila will gear up for production as one of several sites that will be charged with building the next-gen Cruze. The General has yet to announce just which plants those will be, but it has confirmed that the Lordstown, Ohio, site will once again be among them. The plant in St Petersburg, Russia, which has produced the current Cruze, is being shut down, as is the Holden plant in Elizabeth, Australia. The Ramos Arizpe assembly plant currently puts together the Chevy Sonic and Captiva as well as the Cadillac SRX, but has over the course of its 34-year history handled a variety of models for the Chevy, Pontiac, Buick, Cadillac, Saturn, Opel and even Saab brands. The site handles a quarter of GM's production in Mexico, and exports 87 percent of its capacity to other markets. Invertira GM 350 mdd en Ramos Arizpe para fabricar siguiente generacion de Chevrolet Cruze 2015-03-23 - Se consolida GM de Mexico como el sexto productor global de vehiculos para General Motors Company Ramos Arizpe, Coahuila - General Motors de Mexico anuncio este dia que invertira 350 millones de dolares en su Complejo de Manufactura Ramos Arizpe, para fabricar en estas instalaciones la siguiente generacion del modelo Chevrolet Cruze. "Esta inversion, que forma parte de los 5 mil millones de dolares anunciados en diciembre pasado para todo el pais, fortalecera la presencia de GM Ramos Arizpe en la produccion de nuestra compania a nivel mundial y, por supuesto, consolidara a Mexico como el sexto productor de automoviles para GM Company, con el 7% de la produccion global", informo Ernesto M. Hernandez, Presidente y Director General de GM de Mexico. En una reunion de trabajo en la que participaron Ruben Moreira, Gobernador del Estado de Coahuila y Rogelio Garza, Subsecretario de Industria y Comercio del Gobierno Federal, el Presidente de General Motors en el pais aseguro que el Complejo GM Ramos Arizpe se ha consolidado como un iman para las inversiones de la compania a nivel global. Adicionalmente, Ernesto M.

Chevrolet planning low-cost Corvette under Stingray?

If you're burnt out on musings about the Chevrolet Corvette, you'll want to go ahead and skip this post. Motor Trend reports General Motors is hard at work on a low-cost version of the seventh-generation sports car for 2015. Rumored to be called the Corvette Coupe, the car will forgo the Stingray and skip the 450-horsepower 6.2-liter V8 engine in favor of a 5.3-liter V8 with under 400 ponies. If you're keeping track, that's a shade of the same engine found behind the headlights of the 2014 Chevrolet Silverado and GMC Sierra.
The report also suggests the Coupe will receive a number of aesthetic tweaks to separate it from the Stingray, including different front and rear fascias as well as new front fenders and a rear diffuser. Motor Trend says the point of all this is to cut the car's price tag, which means we may see a Corvette on showroom floors for less than $50,000 if this car comes to fruition.

GM raises 2023 guidance on strong sales, higher profits

General Motors beat first-quarter profit estimates and raised its full-year earnings and cash-flow guidance after vehicle demand at the start of the year surpassed expectations. Its shares rose in premarket trading. GM made $2.21 a share in adjusted profit in the first quarter, compared to a consensus forecast of $1.72 a share. Revenue rose 11% to $39.99 billion, it said Tuesday, which was more than the $39.24 billion analysts expected. The stronger results stem from rising sales in the US, even in the face of higher interest rates and inflation. GM executives said demand was strong enough to revise 2023 guidance upward, boosting profit estimates for the year by $500 million to between $11 billion and $13 billion. “We did it with strong production and inventory discipline and consistent pricing,” GM Chief Financial Officer Paul Jacobson said on a call with journalists. “All in all, weÂ’re feeling confident about 2023.” The Detroit automaker raised per-share full-year guidance to between $6.35 and $7.35, up from $6 to $7 a share, and said free cash flow would also increase by $500 million to a range of $5.5 billion to $7.5 billion.  GMÂ’s shares pared a gain of as much as 4.4% before the start of regular trading Tuesday, rising 3.5% to $35.50 as of 6:55 a.m. in New York. The stock was up 1.9% for the year as of the close on Monday.  North American Strength The automakerÂ’s sales were particularly strong in North America, where first-quarter earnings rose before interest and taxes rose to $3.6 billion. Vehicle sales rose 18% to 707,000 in the region. Jacobson said the company originally expected to sell 15 million vehicles in the US this year, slightly less than the 15.5 million annualized rate automakers foresaw in the first quarter. North American demand was enough to offset a weak performance in China, GMÂ’s second-largest market. The automaker continues to struggle in the country, where its vehicle sales fell 25% to 462,000 vehicles in the quarter. Profits from its joint ventures in the market slumped 65% to $83 million.  The market has struggled overall in the wake of Covid-19 restrictions and foreign automakers have had to overcome a growing preference for Chinese brands by competing on price, squeezing profit margins. The situation in China probably wonÂ’t significantly improve until the second half of the year, according to Jacobson. GM remains on target to sell 150,000 electric vehicles this year, the CFO said.