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GM profits threatened by glut of pickups

Automotive News reports that General Motors may slash production or ramp up discounts in order to deal with an oversupply of pickup trucks. GM currently has more than double the standard supply of pickups, and the vehicles are threatening to dampen the automaker's profits for 2013. Typically, automakers try to sustain a 60- to 75-day supply of vehicles, but GM is currently loaded with a 139-day supply, as of last month. At the end of November, the automaker was sitting on 245,853 units.
The manufacturer says that it will adjust production accordingly before laying any incentives on the profitable pickups. Even so, there's some concern that the inventory swell could hurt the roll-out of the next-generation Chevrolet Silverado and GMC Sierra. GM actually began slowly stepping back production in August, but it's clear the company will take further action as it heads toward the end of the year and into the next. Analysts predict the automaker could reduce pickup manufacturing by nearly half in the first quarter of 2013.
That still may not be enough to keep GM from laying extra cash on the Silverado and GMC Sierra. While the company's incentive spending was down in November compared to the same month in 2011, both the Ram 1500 and Ford F-150 saw double-digit percentage increases in sales last month while the Silverado and Sierra numbers slid compared to a year prior. Incentive spending could help move more trucks and add some balance to the GM inventory surge.

GM cutting Chevy Sonic, Buick Verano production by more than 20%

General Motors' Orion Assembly plant in Michigan is seeing even more production cuts this year to further reduce inventories of the Chevrolet Sonic and Buick Verano. These latest adjustments mean layoffs for about 100 workers in phases starting in July. "GM Orion Assembly will adjust plant production capacity to better align with market demand," the company said in a statement announcing the change. Through May, sales of the Sonic are down 28.5 percent to 29,082 vehicles, and the Verano is off 15.6 percent, with 15,279 sold this year. According to unnamed plant insiders speaking to Automotive News, the assembly rate is slowing at Orion Assembly from the current 33 cars an hour down to 26 an hour, a 21-percent reduction. GM is also reportedly going to keep the plant idle for three weeks during the normal summer shutdown, rather than the usual two. Earlier in the year, the factory was idled for two weeks due to excess supply of the Sonic and Verano. In March, it was closed again for several days for the same reason. The Orion Assembly plant is the future home to the line for the Chevy Bolt EV. GM Statement: GM Orion Assembly will adjust plant production capacity to better align with market demand. A phased layoff of approximately 100 employees will begin in July 2015 and conclude by year-end. Related Video: News Source: Automotive News - sub. req.Image Credit: Bill Pugliano / Getty Images Plants/Manufacturing Buick Chevrolet GM Hatchback Sedan buick verano orion assembly

Win an SUV 2022 | The best giveaways of the week

Autoblog may receive a share from purchases made via links on this page. Pricing and availability is subject to change. No donation or payment necessary to enter or win this sweepstakes. See official rules on Omaze. SUVs and crossovers are a hugely popular segment in the United States, making up nearly half of total vehicles sold last year. Here are our favorite SUV giveaways we’ve found online this week. Win a Himalaya Land Rover Defender 110 Crew Cab - Enter at Omaze The Land Rover Defender is an icon. An intense, luxurious off-roader that turns heads and can crawl up nearly anything. The problem? For the past 20+ years it hasn't been available in the United States. But this Defender is different. ItÂ’s vintage, restored by Himalaya, and itÂ’s powered by a Corvette engine. Plus Omaze is giving it away.  Here are the specs of the Defender in question, according to Omaze: Maximum Seating: 4 Engine: 6.2-liter Corvette LS3 crate engine Transmission: 6-speed automatic  Drivetrain: 4WD  Exterior Color: Satin Grey Interior Color: Jet Black Maximum Horsepower: 430 hp Maximum Torque: 425 lb-ft Approximate Retail Value: $210,000  Cash Alt: $157,500  Special Features: Black exterior roll bars and trim; Black 18” Sawtooth wheels with 35” tires; Wilwood™ brakes; 3" lift; Black diamond-stitched leather sport seats; MOMO Millenium steering wheel; front and rear matching consoles; Himalaya gauge cluster; Himalaya front and rear bumpers, bed-mounted tire carrier, and extended fender flares; Puma hood; LED lighting YouÂ’re probably asking yourself, what does it take to win? First of all, according to Omaze, "no donation or payment is necessary to enter or win this sweepstakes." $10 will get you 100 entries in this sweepstakes, while $50 will get you 1,000 entries and $100 will get you 2,000 entries. The best part? Each paid entry raises money for a worthy cause. See more about these causes at Omaze. Other Omaze sweepstakes: Win an Airstream Interstate 24X Win a 1958 Porsche 356 A - Enter at Omaze Win a Restored 1969 Pontiac GTO - Enter at Omaze Win a 2022 Porsche 911 GT3 - Enter at Omaze For these and more vehicle sweepstakes, check out Omaze.com. Enter quickly, they won't last forever. Bentley Chevrolet Ford Land Rover Commerce SUV