Next Report On Monday
09.24.17 – GM Cuts Entire Shift at Factory for Crossovers, Laments “Moderating” Sales, Layoffs not Temporary
- Hottest segment cools. Harvey and Irma Won’t End Carmageddon.
- For the first eight months of the year, car sales by GM and Ford plunged 19%. Industry car sales fell 11%, despite record incentives. Sales of trucks – pickups, SUVs, crossovers, and vans – have been the big hope. Total truck sales are up 3% for the year, reducing the overall sales decline to 3%. Particularly crossovers have been red-hot. Every manufacturer has jumped into this booming segment. They’ve been the big hope. But now, even that hope is fading.
- “Although crossovers now make up a larger share of the automotive industry, overall volumes are moderating,” General Motors told employees in a layoff notice at its Spring Hill, Tenn., assembly plant that makes the GMC Acadia and Cadillac XT5. These crossover models are among the very vehicles GM is counting on to pull it out of its sales funk.
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