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GM Expects Improved Second-Half Earnings

Company's positive news runs counter to that of Ford.

by on Sep.22, 2016

GM Chairman and CEO Mary Barra appears to be on track for another solid year as the company re-affirmed its financial guidance for the 2016.

General Motors Co. re-affirmed its earlier forecast, calling for the company to make up to $6 per share and said it expects to exceed its cost-savings target of $5.5 billion, which will be more than enough to offset increased spending on new technology and ride-sharing.

The optimistic outlook was in sharp contrast from its crosstown rival Ford Motor Co., which reduced its profit forecast for the second half. Ford expects slower sales as well as higher costs for incentives and the launch of new vehicles and other initiatives.

Financial News!

GM also released a new report aimed providing additional insights about the company for the investment community. (more…)

GM, Canadian Auto Workers Beat Strike Deadline with New Deal

Unifor secures new investment in Oshawa plant.

by on Sep.20, 2016

Canadian auto workers and General Motors reached a deal late Monday averting a strike.

This story has been updated with additional information.

General Motors reached a tentative settlement Canadian auto workers by promising $520 million in new investment at the company’s assembly plant in Oshawa, Ontario, and at an engine and transmission plant in St. Catherines, Ontario.

The settlement came just as s strike deadline set for 11:59 p.m. Monday was set to expire, following a lengthy bargaining session during which several key issues were finally resolved, said Jerry Dias, the president of Unifor, the union representing more than 3,900 GM workers in Ontario during a post-midnight press conference.

Labor News!

Dias said the union negotiators met Unifor’s top objective of obtaining promises from GM that will require the automaker major new investments in Canada with C$400 million for Oshawa and another C$120 million for St. Catherines, according to media reports. (more…)

Strike Looms as GM, Canadian Auto Worker Deadline Approaches

Union demanding Oshawa investment.

by on Sep.16, 2016

Unifor President Jerry Dias is pushing GM to commit to significant investments in its Oshawa, Ontario assembly complex.

General Motors and the union representing Canadian autoworkers appear headed for a show down this coming weekend over the fate of one of GM’s oldest assembly plants and future investments.

Unifor’s current contract with the Detroit Three expires 11:59 p.m. on Monday, Sept. 19. Should a new agreement not be reached, Unifor members have voted overwhelmingly to give their bargaining committees authorization to call a strike.

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The union has made investment in Canada a top priority in this round of negotiations, focusing its attention on GM’s aging plant in Oshawa, Ontario. (more…)

GM Commits to 100% Renewable Energy at Plants Worldwide

But target will take another 34 years.

by on Sep.15, 2016

General Motors unveiled its plans to have 100% of its power supplied by renewable resources by 2050.

Typically covering millions of square feet, employing thousands and rolling out hundreds of thousands of cars each year, major auto assembly plants normally aren’t very environmentally friendly. But under increasing scrutiny from regulators and the public alike, carmakers have been stepping up sustainable manufacturing efforts.

General Motors, for example, has largely eliminated waste heading for landfills from many plants. And the Detroit maker says it is committing to using 100% renewable energy at all of its global operations. Just not quite yet. The target won’t be reached until 2050, it says.

The Journal of Record!

“Establishing a 100% renewable energy goal helps us better serve society by reducing environmental impact,” says GM Chairman and CEO Mary Barra. “This pursuit of renewable energy benefits our customers and communities through cleaner air while strengthening our business through lower and more stable energy costs.” (more…)

New Film Reveals the Reality of the Auto Bailout

“Live Another Day” – but at what cost?

by on Sep.12, 2016

Storm clouds over Detroit. At the depth of the recession, two of the three US makers went bankrupt.

The economy was collapsing more rapidly than during the Great Depression, and nowhere was that more apparent than in Detroit, where the Big Three automakers faced the very real prospect of going out of business – destroying a million or more jobs in the process.

Ford Motor Co. was able to survive by mortgaging everything; not only its factories, but even its Blue Oval logo. General Motors and Chrysler didn’t move fast enough to secure equity lines. They had to be salvaged with the help of the largest federally funded bailout in history. It broke precedent and, many would argue, broke the law. The rescue effort may also have saved the economy, according to its proponents.

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Was it good or bad? “It was something in-between,” contends Bill Burke, suggests Bill Burke. He’s a media industry veteran and co-producer of the new documentary, “Live Another Day,” which has received strong praise on the film festival circuit and which will open at theaters nationwide on September 16th.

(more…)

GM Recalling 4.3 Million Vehicles for Airbag Problem

Software glitch prevents airbags from deploying in crash.

by on Sep.09, 2016

General Motors announced it was recalling 4.3 million vehicles due to an airbag defect.

General Motors is recalling almost 4.3 million cars, trucks and sport-utility vehicles built in the last three years due to a software defect that could prevent airbags from deploying in a collision. The problem has been linked to one death and three injuries.

The company said the sensing and diagnostic module that controls airbag deployment has a software defect that may prevent the deployment of frontal airbags in certain “rare circumstances when a crash is preceded by a specific event impacting vehicle dynamics.”

Safety News!

GM discovered the problem after a report was filed in its Speak Up for Safety system relating to a crash involving a 2014 model year Chevrolet Silverado truck in which the driver’s frontal airbag and seatbelt pretensioners were alleged not to have deployed. (more…)

GM China Sales Continue Growth Spurt

Nearly all of company's brands were up in August.

by on Sep.07, 2016

GM China President Matt Tsien noted the company's mainstream passenger car entries helped GM to record sales in China last month.

Strong sales by Cadillac helped General Motors and its Chinese partners set a new sales record during August.

GM and its joint ventures delivered 293,537 vehicles in China, which was up 18% year over year. The Cadillac, Buick, Chevrolet and Baojun brands reached all-time highs for the month, the company said.

The Journal of Record!

“Our mainstream passenger car entries drove our sales momentum,” said GM Executive Vice President and GM China President Matt Tsien. “We are looking to build on our success by adding another five new and refreshed models in the final four months.” (more…)

Your Next Car Could Be Updated Just Like a Smartphone

Technology could speed up repairs, save time and money for motorists and makers alike.

by on Sep.06, 2016

Some vehicles are already being updated the same way as that smartphone - over the air.

Stung by a fatal crash that has raised serious concerns about its semi-autonomous Autopilot system, Tesla plans to announce a major update for the technology in the coming weeks.

But unlike a traditional upgrade, Tesla owners won’t be required to visit one of the battery-carmaker’s showrooms. Instead, they’ll have the revised software beamed to their vehicles, much as smartphone makers like Apple use so-called over-the-air, or OTA, technology when it’s time to update their operating systems.

“Tesla is changing the game,” said Roger Ordman, the marketing director at RedBend, and Israeli subsidiary of Harman International,  that has become a leader in the development of over-the-air update technology. “The need for OTA is as big as the need for advanced driver technologies.”

Tech News!

Wireless updates are commonplace in the computer and smartphone world. It’s the method of choice for distributing everything from anti-virus updates to the latest operating system revisions. But the technology is just beginning to be accepted by automotive manufacturers.

(more…)

Canadian Auto Workers Pick GM as Strike Target

Choice not surprising as Unifor has pushed GM for commitments.

by on Sep.06, 2016

Unifor President Jerry Dias, left, announced unsurprisingly that General Motors is the strike target for the current negotiations.

The union representing thousands of Canadian auto workers, Unifor, has announced that General Motors is the target company that will set the pattern agreement in the current round of negotiations with the Detroit Three automakers.

“These negotiations are about the future of local communities, good jobs and the industry. Our demand is clear, invest today to build a future for tomorrow,” Unifor National President Jerry Dias said.

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“The strength of the auto industry in Canada is not only vital to those in the industry, but to the entire Canadian economy,” said Dias, who has emphasized throughout the negotiations the need for GM to bring new investment into Canada. (more…)

GM Settles Final Two Bellwether Cases

Automaker still has more ignition-related problems to solve.

by on Sep.06, 2016

GM settled the final two of six bellwether cases designed to set the pattern for future settlements related to the maker's faulty ignition switches.

General Motors Co. agreed to settlements in the final two ignition-switch cases slated for trial in a New York federal court this year. Terms of the settlements were not disclosed.

The settlements move GM closer to putting to rest a significant portion the claims that followed the use of a defective ignition switch that GM installed in more than 2.6 million vehicles resulting in 84 separate recalls.

News Now!

The cases were the final two among a half dozen “bellwether” trials aimed at setting patterns for a larger group of personal injury and wrongful death suits. GM recalled the vehicles with faulty ignition switches in early 2014 after it was proven that jostling the switches could turn off engines and safety features including power steering, power brakes and airbags, creating a substantial hazard for drivers and passengers. (more…)