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GM to cut production at 5 plants in North America, kill several models

DETROIT/WASHINGTON — General Motors Co said on Monday it will cut production of slow-selling models and slash its North American workforce in the face of a stagnant market for traditional gas-powered sedans, shifting more investment to electric and autonomous vehicles. The announcement is the biggest restructuring in North America for the U.S. No. 1 carmaker since its bankruptcy a decade ago. GM said it will take pre-tax charges of $3 billion to $3.8 billion to pay for the cutbacks, but expects the actions to improve annual free cash flow by $6 billion by the end of 2020. GM plans to halt production next year at three assembly plants: Lordstown, Ohio, Hamtramck, Michigan, and Oshawa, Ontario. The company also plans to stop building several models now assembled at those plants, including the Chevrolet Cruze, the Cadillac CT6 and the Buick LaCrosse, the sources said. Sources said the Chevrolet Volt, Impala and Cadillac XTS would also be discontinued. Signs of the demise of six passenger-car models have been swirling since July. Plants in Baltimore, Maryland, and Warren, Michigan, that assemble powertrain components have no products assigned to them after 2019 and thus are at risk of closure, the company said. It will also close two factories outside North America, but did not identify those plants. The AP reported that 14,700 jobs would be affected. Some 8,100 of those would be white-collar jobs reduced through buyouts or layoffs. The No. 1 U.S. automaker signaled the latest belt-tightening in late October when it offered buyouts to 50,000 salaried employees in North America. The company also said it will cut executive ranks by 25 per cent to "streamline decision making." Some 6,000 factory workers could lose their jobs or be transferred to other plants. Its shares were last up 6.2 percent at $38.16. Tariff 'headwinds' and cost-cutting GM Chief Executive Officer Mary Barra told reporters on Monday the company can reduce annual capital spending by $1.5 billion and increase investment in electric and autonomous vehicles and connected vehicle technology because it has largely completed investing in new generations of trucks and sport utility vehicles. Some 75 percent of its global sales will come from just five vehicle architectures by early in the 2020s. It plans to reduce annual capital spending to $7 billion by 2020 from an average of $8.5 billion a year during the 2017-2019 period.

Petrolicious profiles one man and his duo of '64 Impalas

Restoring any vintage car is a labor of love. In the end, the investment of time and money is often more than the vehicle is realistically worth on the open market. Deciding to take all of that work on yourself doesn't make things any easier, but it can only increase your connection to the project. Don Rogers, the subject of the latest video from Petrolicious, shows this passion perfectly with his duo of 1964 Chevrolet Impalas – a hardtop and convertible. Both of these Chevys had been sitting for years before Rogers got his talented hands on them, and he did all of the work himself. Now, driving the pair is therapy for him, and he's not worried about anything breaking because he knows he can put it back together. Rogers says he enjoys wrenching on his vehicles even more than going to shows. Doing your own work comes with advantages, like tailoring a project's look to your preferences. It's not original, but Rogers used the crimson interior color from a '59 Impala on his convertible to make the interior pop with the top down. Rogers is undoubtedly a talented builder, and his work is worth checking out in the latest from Petrolicious. Related Video:

Someone has already test driven the 2016 Chevy Volt

Due to some well-placed connections at General Motors Canada headquarters in Oshawa, a senior member of the gm-volt.com forum with the handle "kickincanada" got about 30 minutes behind the wheel of a 2016 Chevrolet Volt. Kickincanada owns a 2012 Volt, and other than personal reservations over the styling of the new car, he came way nothing but impressed by the second-generation hybrid. He drove the Premier trim, posted his observations on the site, then answered questions for other owners desperate to find out what's coming. He said the interior materials are "more upscale," there is less hard plastic and better leather, the seats are more comfortable, and ergonomically, "Everything is beautifully laid out." Although obviously not as luxurious, the interior reminded him of the Cadillac ELR. Tech touches like a better display, Apple integration, a wireless charging area for the phone, heated rear seats, and a better rear console were also worth noting. As for driving, Kickincanada called it "incredible." The "much more luxurious drive" comes courtesy of a "firm and sporty" suspension setup, less NVH thanks to more sound insulation, quieter Michelin Energy Saver tires, and quieter operation of the genset ICE. He said acceleration from a standstill felt quicker because there was no delay between applying the throttle and the car taking off. He estimates owners should be able to get about 100 kilometers (62 miles) out of the electric mode alone on a full charge, and that the new Volt is "clearly improved in almost every way" (the car's official range, as determined by the EPA, is 53 electric miles). We look forward to finding out ourselves. Click through to gm-volt to read all of his thoughts and responses if there's a hybrid purchase in your future. Related Video: