Tagged: general motors

This year's vehicle Initial Quality Survey by the business tracking firm J.D Power and Associates is a bit of a stunner.

The survey asks people how many problems they had with their car in the first 90 days of ownership.

The top auto company was GM. 

The company's GMC brand was second only to Porsche.  That's the first time GMC has ranked anywhere near that high in the history of the survey.   Chevy was fifth, also a dramatic rise in the rankings.

Late last year, the U.S. Department of Treasury announced it would sell all its remaining stock in General Motors in 12 to 15 months.

Today, the Treasury is announcing a plan for another big sell-off.

Officials say, "subject to market conditions," they intend to sell 30 million additional shares of GM common stock "in conjunction with GM’s inclusion to the S&P 500 index effective as of the close of trading on June 6, 2013."

If you live in Michigan there’s a good chance you’ll head up north this summer, or maybe west to bask in the sun on Lake Michigan, but if you’re still not sure where to escape this summer, we have some fun tips on hidden vacation gems you are sure to enjoy.

And, Rick Pluta gave us an update on the Mackinac Policy Conference.

And, Daniel Howes shared his insights on how the financial and investing world views the Detroit auto companies.

It’s Thursday, which means it’s time for our weekly conversation with Daniel Howes, the Business Columnist at the Detroit News.

This week, he focused on the business community in Detroit, where companies like General Motors are trying to give back through programs like the GM Student Corps. From Howe's column:

By itself, the pilot program unveiled in the Wintergarden of GM’s Renaissance Center, isn’t front-page news in a city bursting with the good, the bad and the financially ugly on a weekly basis. What GM Student Corps signifies, however, is another example of a key player in the business community seeing a communal need and moving to fill it, quickly.

He joined us today to discuss the business in Detroit as well as the health of the auto industry.

Listen to the full interview above.

Car companies closed a lot of North American factories in the past ten years as the auto industry restructured.

That has made Jim Tetreault's job even more of an art and a science.

Tetreault is Ford's head of North American manufacturing.  He's responsible for maximizing the number of vehicles that any of the Detroit automaker's remaining plants can produce, while minimizing the downtime at each facility.

Lansing Mayor Virg Bernero says he wants four more years in office. He formally announced his campaign today. 

“I’m telling you folks … Lansing is on the verge,” the partisan crowd groaned, and then laughed, as Virg Bernero joked at his campaign kickoff.

  If you hear the word Europe, you might find yourself thinking of great places to travel, a rich history, or family roots.

If you're an auto executive and you hear “Europe,” you’ll likely sigh and take a couple of aspirin for your headache.

That's because the Detroit automakers stand to lose $4 billion in Europe this year. And with a collapse in auto sales across the pond, trying to muscle through the kinds of changes that saved the industry here in North America is a totally different challenge in Europe.

Michelle Krebs of Edmunds.com and Michigan Radio’s auto reporter Tracy Samilton discuss the bleak picture in Europe for Detroit automakers.

Listen to the full interview above.

VAN BUREN TOWNSHIP, Mich. (AP) - The Yankee Air Museum is kicking off a $6 million campaign to make its home at a former facility that built B-24 bombers during World War II.

Museum officials announced this week an effort to purchase and renovate part of the former Willow Run powertrain plant. The museum is housed at Willow Run Airport, near Ypsilanti in Wayne County's Van Buren Township.

Its original headquarters was destroyed by fire in 2004.

Dennis Norton, the founder and president of the Yankee Air Museum, has presented plans to Ypsilanti Township officials. The museum says it has until Aug. 1 to secure funding, and would buy the site from the Revitalizing Auto Communities Environmental Response Trust.

Ford Motor Co. built the plant for B-24 production. It later was taken over by General Motors.

The Lansing City Council has approved a 12 year-four million dollar tax abatement for General Motors.

GM is planning a $38 million expansion to its Lansing Grand River assembly plant.  The expansion is expected to add 150 jobs to the plant.

GM currently makes its Cadillac ATS and CTS at the Lansing plant.   The automaker also plans to start producing its next generation Camaro at the Lansing plant.

It has been one of the best selling cars of all time.

Since its inception in 1958, GM has sold more than 14 million Impalas (putting it in tenth place on 'best selling cars of all-time' lists).

It looked like this back then:

Today, the tenth version of the Impala is being made at GM's Detroit-Hamtramck Assembly plant, and at the Oshawa Assembly plant in Canada.

Here's a photo of the new Impala rolling down the Oshawa assembly line:

Two of the plants are in Michigan (Flint and Bay City), one in Toledo, and one in Bedford, Indiana.

The auto industry is working on squeezing more miles to the gallon out of the internal combustion engine, and that's what these investments are about.

The $332 million will go toward upgrading manufacturing plants to produce six and eight speed transmissions, small "Ecotech" engines, and a new V-6 engine.

GM recently announced that it will redesign, refresh or replace nearly 90 percent of its vehicles in the North American market between now and 2016.

In addition to the investments in Flint, Bay City, Toledo, and Bedford, IN, GM says it's also upping previously announced powertrain investments by $46 million. Plants in Romulus and Saginaw will see that investment.

From Ford's press release:

Since 2009, GM has announced nearly $1.8 billion of investments for the six Powertrain facilities.

“We are investing in technologies and manufacturing capabilities that produce high-quality, fuel-efficient vehicles and components for our customers,” said Diana Tremblay, vice president of GM North American Manufacturing.  “Today’s announcement demonstrates GM’s commitment to growing the business and strengthening the plant communities where we receive so much support.”

GM says its investments won't lead to new jobs, but will retain 1,650 jobs at the facilities.

The plant in Flint will see the biggest investment. $215 million will be invested in the Flint Engine Operations plant for the 3 and 4 cylinder Ecotec gasoline engines.

Nathan Boomey of the Detroit Free Press reports Flint welcomes the news:

The investment marks a dose of good news for the Flint community after GM recently announced plans to shut down its Grand Blanc Weld Tool Center, displacing 343 employees...

“The investment we’re making is to obviously put in the required capacity or adjustment to the capacity to create more fuel-efficient products for our customers,” Jones said.

Boomey reports GM declined to reveal when the investments will occur, or what cars will receive the new engines and transmissions.

In their release, GM said the new "8-speed [transmissions] will be used in numerous GM vehicles by the end of 2016."