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GM CEO Barra says 'we are selling every truck we can build'

DETROIT — General Motors Chief Executive Mary Barra said on Monday the automaker is "selling every truck we can build" and expanding North American truck-building capacity, even as U.S. gasoline prices hit record highs. Barra made her comments during the automaker's annual shareholder meeting. GM is pursuing a two-track strategy: Investing heavily in electric vehicles for North America, China and other markets, and funding those investments by trying to maximize profits from its North American combustion pickup truck and large SUV lineups. Barra said GM is planning higher-priced versions of its Silverado large pickup and its large SUV models. GM and its Detroit rivals Ford Motor Co and Stellantis NV rely heavily on sales of large pickup trucks and SUVs for global profits. High U.S. gasoline prices in the past have undermined consumer demand for relatively inefficient models. Nominal pump prices hit an average of above $5 a gallon for the first time ever last week, the federal government said Friday. GM is ramping up production of EVs. Barra said the Cadillac Lyriq electric sport utility is sold out through 2023. In response to shareholder questions, Barra said the "clear priority" for using cash generated by its operations is to "accelerate our EV plans." She did not rule out share buybacks or other approaches to returning cash to shareholders. GM still expects to increase production this year by 25-30%, despite continuing pressure on semiconductor supplies globally. Barra said GM is working to redesign vehicles to reduce the number of processors required by 95%. Barra serves as GM's board chair and CEO. GM shareholders overwhelmingly rejected a proposal to separate those roles.

GM might lose 90-year U.S. sales crown over chip shortage

Automotive News editor Nick Bunkley tweeted on October 1 that according to AutoNews data, General Motors "has been the largest seller of vehicles in the U.S. every year since passing Ford in 1931." With automakers having turned in light car and truck sales data for the first three quarters of 2021, GM's 90-year-run might not reach 91. According to AN figures, Toyota was 80,401 vehicles ahead when the October workday started. Worse, GM is so far behind its historic pace that it might only sell enough light vehicles in the U.S. to match its numbers from 1958.  Meanwhile, the New York Times put a few more salient numbers to the pain GM and Toyota are enduring alongside the the rest of the industry. GM sold 33% fewer cars in Q3 2021 than it did in Q3 2019 during the dark days of the pandemic, 446,997 units this year as opposed to 665,192 last year. GM's Q3 2020 was only down 13% on Q3 2019. Over at Toyota, the bottom line showed a 1% gain in Q3 2021 compared to 2020, with 566,005 units moved off dealer lots. The finer numbers show two steps forward and one step back, though; Toyota's September sales were down 22% compared to last year.  GM remains optimistic about what's ahead, GM's president of North American operations telling the NYT, "We look forward to a more stable operating environment through the fall." We'd like to see that happen, but we don't know how it happens. The chip shortage said to have been the inciting incident for the current woes isn't over, and not only can no one agree when it will be over, the automakers, chip producers, and U.S. government still can't get on the same page about who needs what and when. Looking away from that for a second shows articles about "No End In Sight" for supply chain disruptions in early September, before China had to start working through power supply constraints, global supply chain workers started warning of a "system collapse," and roughly 500,000 containers sat waiting to be unloaded at Southern California ports — a record number seemingly broken every week. And back to chips, we're told just a few days ago the chip shortage is "worse than we thought."   For now, the NYT wrote that GM dealer inventory is down 40% from June to roughly 129,000 vehicles, and down 84% from the days when dealers would cumulatively keep about 800,000 light vehicles in stock. However, GM just announced it would have almost all of its U.S. facilities back online next week, although some would run at partial capacity.

2024 GMC Canyon Review: Ready for the trail, happy on the commute

Pros: Stellar exterior styling for all trims; punchy powertrain; outstanding AT4X off-road trims; great tech and interior amenities Cons: Only one cab/bed combination; gets expensive quick; firm ride for most trims The 2024 GMC Canyon is an excellent midsize pickup. So is the Chevrolet Colorado, its bowtie-branded twin, though with the new generation, the Canyon does a better job than ever of differentiating itself. It starts with the styling where GMC offers a pick-your-own-adventure amongst the various trims. You can go classy and upscale with a Denali or rugged and mean with the AT4. Off-road junkies can find all they might want in the Canyon lineup now, too, as the AT4X is basically the Colorado ZR2’s doppelganger, enjoying its magical Multimatic dampers for outstanding performance no matter the surface. And if you want even more extreme, thereÂ’s the AT4X AEV Edition. The turbocharged four-cylinder powertrain is more than potent with its 430 pound-feet of torque, and unlike the Colorado that offers various output levels, the Canyon only comes in the highest power spec no matter the trim level. The one downside to the Canyon is its high price, but at least it backs that price up with tech and capability. In fact, the Canyon and Colorado are so good that theyÂ’ve instantly become some of our favorite pickups, regardless of size or segment. Needless to say, then, GMCÂ’s version stacks up very well within its actual segment, leading us to prefer it over stalwarts like the Ford Ranger and Nissan Frontier. It might not have an efficiency answer to the Toyota TacomaÂ’s new hybrid variant, but the Canyon is about as good as it gets for the midsize truck segment in 2024. Interior & Technology   |   Passenger & Cargo Space   |   Performance & Fuel Economy What it's like to drive   |   Pricing & Trim Levels   |   Crash Ratings & Safety Features What's new for 2024? The GMC Canyon was all-new for 2023, so there arenÂ’t many changes for the truck in 2024. GMC did add a new model for the new year with the AT4X AEV Edition that improves off-road performance beyond the already impressive AT4X. You can find our first drive review of the AEV Edition here. Beyond the introduction of the AEV model, GMC makes the 11-inch digital instrument cluster standard across all trims – it was previously only installed on the Denali and AT4X. Other trims had an 8-inch version. What are the CanyonÂ’s interior and in-car technology like?