GM announces plant closings and ending production of several sedans
The plants include three car factories: one in Lordstown, Ohio, that makes the Chevrolet Cruze compact; the Detroit-Hamtramck plant, where the Chevrolet Volt, Buick LaCrosse and Cadillac CT6 are produced; and a plant in Oshawa, Ontario, which primarily makes the Chevrolet Impala. I’m not shocked at this news and can’t help but think there will be more to follow, sadly with Americans love affair with boring SUV’s. Trade war tariffs on steel are also cutting into corporate profits and influencing these decisions.....
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It's got nothing to do with trade tariffs, but everything to do with consumer's changing tastes. Even Camry's and Accords are way down. The sedan as we know it is essentially dead.
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Nothing to do with tariffs, good economy and low gas prices are driving it.
+1 on the Blazer comments. IMHO Chevy blew it on that one. Hard to believe that folks are looking for a bigger Equinox/smaller Traverse. I expect the engine will turn off at stop lights as well, and with no defeat button. <sigh> |
Isn’t this due to the fact that people are buying more suvs and fewer sedans ?
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I would think with the low sales numbers on the Camaro it would also be on the list ..
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IMO it really has nothing to do with the type if car, it is the fact that the domestic car companies cant make as good of commodity vehicle as the Japanese or Koreans. Not saying they cant make a good car, GM can make a good $40k 2 door performance car, but they cant make as good of a $20k 4 door sedan.
Throw in the fact that the deprecation on a domestic sedan is 2-3x that of a Japanese or European equivalent. In 2015 I bought a new Sierra 1500 SLE Z71. Sticker was $43k, bought it for $38k. 3 years later I went to sell it and I struggled to get $23k for it on the open market (not a scratch on it with 24,000 miles). That was 46% in 3 years with VERY low miles. Previous vehicle was a 2013 4Runner SR5 (base model). Stickered for $36k, paid $36k. Drove it two years and sold it for $31k with 42,000 miles on it. Put $4000 cash in my pocket after I paid off the loan. Previous vehicle to that - 2011 Golf TDI. Bought for $27k (Demo with 3500 miles on it). Drove it 2 years and put 40k miles on it. Sold it for $23k. Regardless of performance, longevity, etc....... the financial consequences of buying a domestic vehicle are significantly higher than their competitors. Hence HUGE rebates to help offset it. Now I know this is a futile place to make these statements (on a Camaro forum) and it may be a bit hypocritical as I am a Camaro owner, but for the average person looking for an average car to do average things with minimal depreciation and lowest cost of ownership then I would tell you to buy a Camery over an Impala every day. FYI - I grew up in Michigan. Both of my grandfathers, my dad, my uncles, my cousins and my friends all have worked for or work for GM. I have a brother in law who owns a Chevy dealership. I qualify for every GM employee discount you can get on a new vehicle, and the last car I bought for my wife was close to MSRP on a Forester. |
When a manufacturer puts incentives on the hood to move the metal it affects used car resale values regardless of the brand. True that American brands have a long history of large rebates and incentives, hence the notorious huge depreciation numbers. Exactly why I have learned the hard way to look where the car will be several years down the road and make sure I get in very well up front.....Deal Hard!!!!!!
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There's not much you can compare to the 4Runner as far as resale value goes. Part of the issue with your calculation is you're also going off of MSRP on the Sierra when that is not what you paid. Deals are always there to be had on trucks. I got 13.5k off of my F150. Why would I calculate depreciation off of MSRP when nobody pays that except maybe when they just hit the lots? I bought a 2012 Subaru Legacy in 2011 and sold it in 2015 after about 4 years of ownership. MSRP was 25.5k and I sold it for 15.5k. |
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Ford realizes that the Mustang is part of the company's DNA. GM has no such allegiance to the Camaro. Maybe GM was far into development of the 7th gen. and realized it wasn't cost effective to cancel it (yet). Will be interesting to see the fate of the Camaro during the time of the 7th gen. FYI...If you didn't know...A couple of months ago Scott Settlemire confirmed that GM is working on a 7th gen. Camaro. |
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