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GM cutting production at two plants

General Motors is continuing to adjust to excess supply of some of its brands' models. To get production more in line with the vehicles' actual demand, the automotive giant is idling two of its factories in North America in the coming months. The Orion Assembly plant is going to be down from March 9-13, according to an anonymous plant worker and another insider speaking to Automotive News. The factory builds the Chevrolet Sonic and Buick Verano, but there are plenty of both models sitting on dealer lots, including 216 days worth of Sonics, according to AN. The factory already had two idle periods announced to reduce the excess. In addition, downtime is scheduled at GM's "Flex" line at the Oshawa, Ontario, Canada, plant from April 13-17. This affects supply of the Chevrolet Camaro, Impala, Buick Regal and Cadillac XTS. Among them, the automotive giant has the largest supply of Regals ready for dealers with 213 days worth of them, according to AN. The future for the whole Oshawa factory is cloudy in general, though. There are rumors that it could close entirely in the future because the Camaro is leaving and the Regal and XTS might not last much longer than 2017. The Canadian government and the labor union there intend to put up a fight, though. News Source: Automotive News - sub. req.Image Credit: Bill Pugliano / Getty Images Plants/Manufacturing Buick Cadillac Chevrolet GM orion assembly oshawa plant idle

GM recalls Cadillac ATS and Chevy Impala for separate issues

The National Highway Traffic Safety Administration added two recalls from General Motors in the government organization's daily update of safety campaigns. Both were for failing to meet Federal Motor Vehicle Safety Standards but for completely separate reasons. The larger recall covers 58,698 units of the 2013-2015 Cadillac ATS, but it doesn't really carry huge safety concerns. In vehicles produced between April 25, 2012, and February 9, 2015, the controls for the tilt and slide of the moonroof are not recessed enough, as required by federal law. According to NHTSA, it's possible that someone could inadvertently activate the auto-close for the roof panel, which the agency claims increases "the risk of personal injury." Dealers will install a new trim plate that will add the necessary clearance. The other campaign covers 1,177 examples of the 2014 Chevrolet Impala from between November 15, 2012, and May 27, 2014. However, this is actually a repeat of a previous recall on the Chevy and the Cadillac XTS from 2014. The affected Impalas here "were remedied incorrectly" under the earlier campaign, according to NHTSA. On these sedans, it's possible the electronic parking brake might not fully disengage and still remain in some contact with the rotor, which is in violation of federal rules. The fault can cause excessive heat from the brakes that could potentially lead to a fire, according to NHTSA. To fix the problem, dealers will reprogram the electronic parking brake control module. Show full PR text RECALL Subject : Inadvertent Press of Roof Panel Switch/FMVSS 118 Report Receipt Date: FEB 24, 2015 NHTSA Campaign Number: 15V106000 Component(s): VISIBILITY Potential Number of Units Affected: 58,698 All Products Associated with this Recall Vehicle Make Model Model Year(s) CADILLAC ATS 2013-2015 Details Manufacturer: General Motors LLC SUMMARY: General Motors LLC (GM) is recalling certain model year 2013-2015 Cadillac ATS vehicles manufactured April 25, 2012, to February 9, 2015. In the affected vehicles, the power-operated roof panels auto-close when the non-recessed "Slide" or "Tilt" switches are pressed. As such, these vehicles fail to comply with the requirements of the Federal Motor Vehicle Safety Standards (FMVSS) No.

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.