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GM laying off more than 4,000 workers Monday morning

According to reports from Automotive News, The Detroit News, and CNN, General Motors plans to begin laying off more than 4,000 salaried workers starting Monday morning. In a statement to AN, a spokesperson for the automaker said, "We are not confirming timing. Our employees are our priority. We will communicate with them first." We've been expecting layoffs at General Motors since November, 2018. At the time, the Detroit-based automaker announced it would seek to shed 8,100 salaried employees, shut down five assembly plants in North America, and kill off several slow-selling models. One month earlier, GM offered buyout packages to 18,000 workers and said it would seek to cut its global workforce by 25 percent. A spokesperson said at the time the moves were "proactive steps to get ahead of the curve by accelerating our efforts to address overall business performance." The cost-cutting moves are expected to save GM up to $2.5 billion in 2019 and as much as $6 billion by 2020. David Kudla, CEO and chief investment strategist of Mainstay Capital Management, referred to the impending culling as "Black Monday" and told The Detroit News that the layoffs would begin around 7:30 a.m. and continue in waves throughout the coming days and weeks. GM plans to deliver on its fourth-quarter and full-year 2018 earnings report on Wednesday. President Donald Trump plans to deliver the annual State of the Union address a day earlier on Tuesday. We expect to hear plenty more from both sides over the next several days.

Nissan Leaf sets new November sales record, Chevy Volt drops again

When you talk to people in the plug-in vehicle industry, one theme you hear repeatedly is that the more plug-in cars that are out there, the better things are for everyone. One reason is that more EVs build a need for more public chargers, and more chargers mean more people see that plugging in is feasible. But there's still something to be said for old-fashioned competition, and in the sales race between the two long-running plug-in vehicles in the US, the Nissan Leaf is resoundingly beating the Chevy Volt for 2014. In fact, it won't be long before the EV's cumulative sales top the PHEV's. But that's a topic for another month. For now, we have the sales results from November. Unsurprisingly, Nissan set another monthly record (that is, the best Leaf sales in any November, the 22nd time in a row we've seen a monthly record) with 2,687 sales last month. That's up 34 percent over last November and up 35 percent year-to-date. Toby Perry, Nissan's director of electric vehicle marketing, said in a statement that, "Our 'Kick Gas' ad campaign and 'No Charge to Charge' launch in Chicago and Atlanta drove an increase in November Leaf sales. Even with gas prices falling across the country, consumers appreciate that the cost of driving a Nissan Leaf is still a fraction of that of a gas-powered car." Over on the Chevy side of the ledger, there were 1,336 Volt sales last month, down 30.4 percent from the 1,920 sold in November 2013. So far this year, Volt sales are down 16.4 percent and Chevy has sold 17,315 Volts in 2014. As we said last month, the Volt slump might be due to people waiting on the new version to make an appearance at the Detroit Auto Show next month before going on sale in the second half of 2015. So far in 2014, Nissan has sold 27,098 Leafs. Look for our detailed post of US green car sales in the near future. Until then, please discuss last month's Leaf and Volt sale in the comments, below. News Source: Nissan, General Motors Green Chevrolet Nissan Electric Hybrid PHEV ev sales hybrid sales

Toyota tops Kelley Blue Book's Resale Value Awards

Kelley Blue Book announced its annual Best Resale Value Award winners, and we weren't too surprised to see the list dominated by Japanese automakers - mainly Toyota and Honda. KBB hands out the awards based on the projected residual value of mostly all 2013 model year vehicles, and Toyota skated home with a number of awards including 10 of the 22 overall categories and having five of its products in the top 10 for models with best resale value. KBB's Best Resale Value Awards were announced in the same week as the ALG Residual Value Awards, and there were many similarities between both lists, especially when it came to Toyota.
To come up with its winners, KBB measures depreciation over the first five years of ownership, and looks for the cars it expects to hold its value the best after this time; on average, the report says the 2013 model year vehicles will lose 61.8 percent of its value in five years. Of the 22 categories, 15 slots were filled by Toyota, Honda and Nissan products, while the Camaro and Porsche (Cayenne and Panamera) each took home a pair of awards. If Toyota has anything to be upset about in this list of cars, it's that categories for Hybrid/Alternative Energy Car and Electric Vehicle went to the Ford Fusion and Chevrolet Volt, respectively.
The overall top 10 models for the best resale value in 2013 are, in alphabetical order: