Posted on 11/26/2018 9:07:04 AM PST by tcrlaf
Amid flagging sales, General Motors confirmed on Monday that it will no longer make the plug-in hybrid Chevy Volt, ceasing production on March 1st, 2019. The news comes as part of a wider plan by GM to slash car production in North America and halt production of several low-selling brands. Trading on GM shares was briefly halted on the stock exchange early on Monday in anticipation of “major operational changes,” according to CNBC.
GM plans to “unallocate” three assembly plants — in Oshawa, Ontario; Detroit, Michigan; and Warren, Ohio — putting the future of those plants in doubt, Reuters reports.
The move will necessitate layoffs of salaried executive employees. “Actions are being taken to reduce salaried and salaried contract staff by 15 percent, which includes 25 percent fewer executives to streamline decision making,” GM said in a statement. An estimated 14,000 factory workers and white-collar employees stand to lose their jobs, according to The Associated Press.
(Excerpt) Read more at theverge.com ...
The EV market isn’t that big, but Tesla M3 is currently mopping up this category of auto sales. GM’s EV sales have deteriorated recently and they are on the verge of losing the federal consumer tax credit after selling 200K compliant cars..
https://insideevs.com/monthly-plug-in-sales-scorecard/
Most people that live outside of big cities need vehicles with room for people and luggage, and that are easy to get into and out of. With some exceptions, the modern sedan does not meet these requirements as well as SUV’s and cross-overs.
As for small cars, the foreign makers have always done better than the US makers.
The smaller Chevy Bolt is a newer design and outsells the Volt in a lot of places.
We were very pleased with our Saturns of which we had 3, 1993, 99, 2005. Saturn lost its cachet when GM took ovrr design. My first Saturn, the 93, was for the money the best car I’ve ever owned. Now on my third Hyundai. Very pleased.
Bolt sales suck also....
It’s not parts. It’s cars. Cars they know they won’t sell. Which is why they’re canceling the lines. But they have the parts in the pipe, which they clearly pre-ordered way too many of, so they might as well make the cars. It’s bad ordering, not bothering to actually read their market and change accordingly.
Right. EVs aren’t familly vehicles. Sticking with the newer more efficient model fits the bill of satisfying government demand.
Except they DIDN’T shift. That’s why GM is failing. That’s why they’re going to keep making Impala’s for a year after deciding the line is dead.
Ford didn’t take taxpayer money to stay open. When they say a line is failing that’s not a giant waste of our money.
Of course they funny part about that article is they’re studiously ignoring that for the imports sedans are doing great. Nobody wants to buy sedans from the American 3, mostly cause their sedans suck. Hyundai, Nissan and Honda are all doing fine in the sedan market, a high percentage of the vehicles on the road are sedans. Imported sedans.
Who placed the orders and who ordered them?
GM did and they paid it back.........Nice try
Managers. Like I said. They have too many managers, but not enough managing. GM people are quoted in that article you pointed to. So we know at least as far back as April GM knew their sedan fleet was going to need a trim. Now here it is November and they’re finally trimming it, except because they have all these parts in the pipe that trim won’t actually fully take effect for another year. That’s just plain bad management. There’s no other way to cut it. They didn’t pay attention to their own numbers and act accordingly.
Shouldn’t have taken it. It should never have been offered. Poorly run companies die. That’s how capitalism works. Those deaths create opportunities for other smarter companies. This is just showing what a bad idea it was to prop up GM. They continued to be a poorly run company, making bad decisions. And now they’re trimming their line, and doing a bad job of that too. Because they think they’re too big to fail and somebody is gonna save them from themselves. Sadly they’re probably right.
So why stay in the sedan market where the most competition is when you can focus on lines that are generating the most sales? You just argued against your own argument..........LOL!
I must now look at Yahoo to see Democrats yapping it up about how Obama “saved” GM.
I can already guarantee you they’ll blame GM’s crash on President Trump.
And yes, they truly ARE that stupid.
Obama gave my retirement money to GM union workers
To hell with them
The door opened.
You got in. (rolls eyes)
The idiot liberals love their dreams of all-electric cars.
Yeah, they look great. In the movies.
As I recall, you were looking at $40,000 for a Chevy Volt.
Yay, I saved on gas.....
There’s nothing wrong with them leaving the sedan market. Bother to understand what I’m saying. The problem is they’ve KNOWN for at least 6 months they should get out, but they’re so crappy at running the company they CAN’T actually get out for ANOTHER YEAR. I haven’t argued against myself, you just can’t be bothered to read.
“The parasite killed the host, and Obama paid off the parasite. So I will never buy another car built by the UAW until the union repays what it took. Since that will never happen ….”
That is why we bought a Mazda that was made in Japan.
I refuse to buy a UAW product. And we really liked the Chevy Equinox
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