Among the facilities on the chopping block are the Detroit/Hamtramck assembly plant, which makes the Buick LaCrosse, the Chevrolet Impala and Volt, and the Cadillac CT6, all slow-selling cars. Robert McLaughlin and his sons Sam and George started making McLaughlin cars there in 1908 before selling to GM in 1918. Automotive News reports that two additional plants - a pair of propulsion plants in MI and Maryland - will also grind to a halt by the end of 2019.
When the federal and provincial governments bailed out the auto industry in 2009 at a time when bankruptcy appeared imminent, the deal required the Big Three to keep 16 per cent of its North American production in Canada ― a requirement that ended in 2016. This story also originally indicated that Senator Portman asked GM CEO Mary Barra to commit to bringing a new product to the plant.
While GM is buying out and laying off workers in its core auto operations, the automaker has added close to 1,000 people in the past year at Cruise.
On Sunday, the mayor told The Canadian Press that he hopes reports of the closure are "just a rumor".
GM, the largest automaker in the US and includes the Chevrolet, Buick, Cadillac and GMC brands, said the moves will save $6 billion in cash by the end of next year, including $4.5 billion in recurring annual cost reductions and a $1.5 billion reduction in capital spending.
Wizards players involved in verbal altercations during 'volatile practice,' report says
The Golden State Warriors aren't the only National Basketball Association team dealing with a locker room issue right now. Wall reportedly apologized to Brooks shortly afterward, as well as his teammates the next day, league sources confirmed.
America's largest auto maker said some workers would transfer to SUV and truck factories, which are increasing their output because of growing demand.
Amid a heavy winter downpour, stunned GM workers walked off the job in protest Monday after learning the company has no plans to produce vehicles there after December 2019. Barra is also shifting resources toward building electric cars and, eventually, vehicles that drive themselves.
It plans to reduce annual capital spending to $7bn by 2020 from an average of $8.5bn a year during the 2017-2019 period. Customers are increasingly shunning sedans in favor of SUVs and hatchbacks. The company has said tariffs on imported steel, imposed earlier this year by the Trump administration, have cost it $1bn.
GM shares were trading around $37.78 as of 3:35 ET on Monday.
Assembly plants are job juggernauts. "They are not closing our damn plant without one hell of a fight". Through the first nine months of 2018, that had fallen to a little over 31 percent.
Barra said the automaker is running at about 70 percent capacity utilisation in North America, and the company will provide an update on how the latest moves will improve utilisation in January.
"No, I don't think these violate the 2009 agreement, in part because we always made clear that GM should be free to run its business in the ordinary course", Rattner said. He said he told the company that the USA has done a lot for GM and that if its cars aren't selling, the company needs to produce ones that will. GM expects to spend $1 billion on Cruise this year to build the next generation of cars.