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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.

2018 GMC Terrain Drivers' Notes Review | Summon the Druids, it's a better Equinox

We've had plenty of time in the all-new Chevrolet Equinox, testing it with all three of its available turbocharged four-cylinders: the 1.5-liter, the 2.0-liter performance upgrade and the diesel fuel economy upgrade. Finally, however, we get a turn behind the wheel of its brother from a different corporate mother: the 2018 GMC Terrain. This duo is certainly one of the most disparate pairings in GM's long badge-engineering past, with virtually no visual similarities inside and out. They're even less similar than the last Equinox-Terrain, which themselves were a far-cry from the Blazer-Jimmy days. They're largely the same under the skin, however, including their selection of engines. For the 2018 Terrain, we sampled the 1.6-liter four-cylinder turbodiesel good for 137 horsepower and 240 pound-feet of torque. It's an unusual powertrain to be sure, as no other compact crossover SUV in this country offers one (though Mazda has been threatening to do so for years now), but boasts an EPA-estimated fuel economy rating of 28 mpg city, 39 mpg highway and 32 mpg combined with front-wheel drive. It's basically the same with all-wheel drive. The as-tested price of the SLT Diesel was a rather hefty $39,605. It did, however, have most options, including the Infotainment Package II and Driver Alert Package II that together include all the extra entertainment and safety gadgets. Contributing Editor James Riswick: Let's be honest, the main difference between the 2018 GMC Terrain and its Equinox sibling is the way they look. As such, I can definitively say I prefer the Terrain. It's far more cohesive and better proportioned than the rather dumpy Equinox. It also avoids the garish over-adornment of the last Terrain even if the floating roofline D pillar has passed its expiry date. I think the interior looks better too. As for the way it drives, the 2018 Terrain demonstrates great improvements from one generation to the next. The steering in particular is greatly superior in its feel and feedback. Body motions are also kept nicely in check. Is it a Mazda CX-5 or Ford Escape beater? No, but it's far more confidence inspiring now. So that's the good. Now, the extremely bad. This diesel engine vibrates so much I can't imagine anyone taking one for a test drive and choosing it over the 1.5-liter gasoline turbo. You feel it through the wheel, the pedals and the seat of your pants constantly. It's particularly bad when stopped and even present when just cruising on the highway.

Black Friday could power record November sales

Black Friday allows some shoppers to line up in the wee hours for doorbuster deals on laptops and TVs, but the day after Thanksgiving could mean huge profits for automakers this year, too. Multiple industry analysts predict record growth for the industry for November, and the upcoming incentives could help those numbers. TrueCar predicts that Black Friday incentives could provide a major boost, and it estimates a November sales jump of 3.9 percent from last year to a record for the month at over 1.35 million vehicles. As examples of potential deals, Chevrolet, Buick, and GMC plan to offer up to 20 percent off some models, and FCA US has no-interest financing for up to 75 months from its brands. "Consumers are excited about Black Friday promotions and these month-long events appear to be resonating with car buyers." Eric Lyman, TrueCar's vice president of industry insights, said in the report. Black Friday only recently became a big day for auto sales, according to an analysis from Edmunds. Last year, Thanksgiving weekend posted double the sales as any other weekend in the month. The company predicts a sales volume of over 1.33 million vehicles for November. If that happens, it would be the beat the previous record of 1.32 million sales for the same month in 2001. Some forecasts temper the gains for November but only slightly. Kelley Blue Book predicts flat year-over-year sales at 1.3 million vehicles, but that's largely because there are two fewer sales days in 2015 versus in 2014. "Black Friday deals on vehicles have grown in popularity in recent years, and should be a big contributor to this month's sales results," said analyst Tim Fleming in the study. The combined research from J.D. Power and LMC Automotive have the lowest November prediction among this group at just over 1.279 million sales for the month versus 1.299 million in 2014. However, once the researchers adjust the figures for the two fewer selling days, 2015 could actually be seven percent higher than last year. TrueCar Finds New Auto Sales in November to Reach Monthly Record Black Friday promotions bolster sales gains; industrywide incentives up 6% from last year November 24, 2015 12:11 PM Eastern Standard Time SANTA MONICA, Calif.--(BUSINESS WIRE)--TrueCar, Inc. (NASDAQ: TRUE) projects total new vehicle sales, including fleet deliveries, will reach 1,352,500 units in November, a 3.9 percent increase from a year ago and the highest ever for the month.