GM CEO Mary Barra on the painful jobs transition

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Thread: GM CEO Mary Barra on the painful jobs transition

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    GM CEO Mary Barra on the painful jobs transition

    GM CEO Mary Barra on the painful jobs transition
    AXIOS
    Joann Muller
    June 17, 2019



    GM CEO Mary Barra says the company will need to relocate workers to keep them in the family as part of its long-term vision for an electric, self-driving future. "I want to make sure this company is not around for the next five years but the next 50 and beyond," Barra tells "Axios on HBO."

    Why it matters: With contentious labor talks looming this summer, Barra's challenge is to convince longtime autoworkers that her plan to divert resources toward unproven future technologies won't put their livelihoods at risk.

    What to watch: GM is shifting its entire vehicle lineup to electricity, which means instead of gasoline-powered engines and transmissions, it will need to produce more battery packs and electric drivetrains.

    • GM says it will introduce 20 new electric vehicles by 2023. Many of those will be built and sold in China, where GM is a major player and the government is aggressively pushing EVs.
    • "But there's a very robust plan for the United States as well. So there'll be more opportunities as we move forward," says Barra.
    • So far, GM has only announced one: a new Chevrolet EV that will be built in Michigan, attracting $300 million in investment and 400 new jobs.

    *Full Article at Link

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    Re: GM CEO Mary Barra on the painful jobs transition

    This guy, an auto analyst, John Murphy, thinks US industry sales are going down -30% by 2022. Ouch. Even if he's 1/2 right there's painful times coming.

    gm authority dot com/blog/2019/06/auto-industry-outlook-forecasts-30-percent-drop-by-2022/

    So we'll just have to see if Barra's moves pan out in the end...
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    Re: GM CEO Mary Barra on the painful jobs transition

    Quote Originally Posted by dannyg View Post
    This guy, an auto analyst, John Murphy, thinks US industry sales are going down -30% by 2022. Ouch. Even if he's 1/2 right there's painful times coming.

    gm authority dot com/blog/2019/06/auto-industry-outlook-forecasts-30-percent-drop-by-2022/

    So we'll just have to see if Barra's moves pan out in the end...
    The perfect set up for another BK fiasco. Massive industry slowdown amidst an expensive corporate change of direction.

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    GM and Ford are arguably in much better financial positions than they were in the mid 2000s and also, the economy has seen sustained growth, so while some predict a drop in sales, I’m thinking that is being accentuated by the shift away from cars. More likely what we’ll see is even more leasing until buyers start rejecting payment levels, which leads to manufacturers subverting costs by inflating residual value.... this is probably why we may not see as much damage initially but the truth will eventually come out.

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    GM says they can be profitable at 12 million SARS, the current SARS is 17 million units

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    Re: GM CEO Mary Barra on the painful jobs transition

    Long-Term Outlook for US Auto Sales — Stable
    Only a major event would impact sales.

    by Joseph Szczesny on Mar.20, 2018


    New vehicle sales are expected to stabilize in the 16.8 million to 17 million unit range.

    Barring a sudden shock such as a financial crisis like the one in 2008 or another foreseen disruption of the economy in the U.S. or other parts of the world, the auto industry appears headed for a long period of stability, according to an updated forecast by IHS Markit.

    Sales appear to have reached a very sustainable plateau quite similar to the that started in the early 1990s and survived the bursting of the “Dot.com” bubble and 9/11, Peter Nagle, an IHS analyst noted in a briefing for reporters in Detroit. The long period of steady, stable sales could stretch out to 2025.


    News You Can Trust!

    Sales in the U.S. market have been slowing since the middle of 2016, he added. “We’re entering a replacement cycle but at a very level even as the plateau tilts slightly downward. IHS expects total sales in the U.S. to reach 17 million this year and tail off to 16.8 million in 2019.

    Carmakers have been helped by low interest rates, which have helped elevate the money consumers spend on new vehicles.

    New vehicle sales are poised for a long run of consistency, according to an analyst.

    At the same time, the demand for new forms of mobility, such as ride sharing, will grow and sales of electric vehicles are expected to expand

    A trade war that could disrupt the established trading order is certainly a possibility, given the recent pronouncement by the Trump administration. But it is difficult to predict the impact on the overall market at this point, added Nagle, noting that IHS is now in the midst of an extensive study of the potential fallout from higher tariffs but hasn’t reached any conclusions yet.

    Trade, however, is certainly one of the variables that needs watching, he said. There is still a potential for political disruptions given the unsettled nature of Great Britain’s exit from the European Union and the uncertain outcome of the recent parliamentary elections in Italy.

    But the global economy also has a lot of momentum. India’s economy is expanding rapidly and China continues to grow thought the pace will be slower as the Chinese leadership moves to reduce the excess capacity in the manufacturing and housing sectors, Nagle said.

    The economies in Japan and Brazil are growing again, adding to overall momentum, Nagle said. “We expect auto sales worldwide to reach 100 million units by the end of the decade,” he added.

    http://www.thedetroitbureau.com/2018...-sales-stable/

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    Re: GM CEO Mary Barra on the painful jobs transition

    The down turn has been expected and is why GM has been cutting cost and also been working working to get ATP up.

    GM has been clear on why they were doing what they were doing but most people were not listening.

    The down turn is why FCA is working fast looking for a new partner. Also it is why Ford is working fast on deals with VW. Both are behind on cost cutting and FCA is behind on new products outside of Jeep.

    Ford’s stock price is still troubling but the family owning controlling interest has saved them from getting bought out.

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    Re: GM CEO Mary Barra on the painful jobs transition

    Quote Originally Posted by mbukukanyau View Post
    GM says they can be profitable at 12 million SARS, the current SARS is 17 million units
    When was the last time that was stated; GM is much different than it was just a few years ago; if you think that comment still applies today, you are crazy.
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    Re: GM CEO Mary Barra on the painful jobs transition

    For some reason I had read: "Mary to stop the painful castrations."

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    Re: GM CEO Mary Barra on the painful jobs transition

    Quote Originally Posted by mbukukanyau View Post
    GM says they can be profitable at 12 million SARS, the current SARS is 17 million units
    SARS? that Canadian disease?

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    Re: GM CEO Mary Barra on the painful jobs transition

    Quote Originally Posted by jpd80 View Post
    GM and Ford are arguably in much better financial positions than they were in the mid 2000s and also, the economy has seen sustained growth, so while some predict a drop in sales, I’m thinking that is being accentuated by the shift away from cars. More likely what we’ll see is even more leasing until buyers start rejecting payment levels, which leads to manufacturers subverting costs by inflating residual value.... this is probably why we may not see as much damage initially but the truth will eventually come out.

    It's already happening, and I think in a different pattern that you think.

    Neighbor is looking to replace his 2/year 20K Trax LT lease; June 2017 $138 sign-n-drive. Same dealer is quoting him $238 this year, for an LS - He has since shopped around an found a deal for $197 still almost 50% higher than 2 years ago. This will result in GM (the entire industry) selling fewer vehicles.

    I suspect GM is not only funneling content into EV's and Autonomous, they are now funneling other profits toward the same endeavors.

    It's like a dead-broke drunk getting a new, higher-paying job; that just starts drinking more..............
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    Re: GM CEO Mary Barra on the painful jobs transition

    Quote Originally Posted by Ed753 View Post
    It's already happening, and I think in a different pattern that you think.

    Neighbor is looking to replace his 2/year 20K Trax LT lease; June 2017 $138 sign-n-drive. Same dealer is quoting him $238 this year, for an LS - He has since shopped around an found a deal for $197 still almost 50% higher than 2 years ago. This will result in GM (the entire industry) selling fewer vehicles.

    I suspect GM is not only funneling content into EV's and Autonomous, they are now funneling other profits toward the same endeavors.

    It's like a dead-broke drunk getting a new, higher-paying job; that just starts drinking more..............
    I have gotten mail from my dealer trying to talk me into a NEW truck so this last weekend I went down and had a LOOK around
    a LOT of the "advertised" promises were NOT there and a NEW RAM CLASSIC they were quoting 8 year terms and a few 100 more per month - funny thing they had a MK5 NEW gen same kit is my current truck but the NEW version for sale as USED but dealer register to get sales #( has 400 KM on it) last month WAS THE CHEAPEST OPTION BY FAR even without subvented financing and to make the deal happen they were going to throw in 2 years free service trailer brake controller and box liner - I stuck with my current truck

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    Re: GM CEO Mary Barra on the painful jobs transition

    Quote Originally Posted by dannyg View Post
    This guy, an auto analyst, John Murphy, thinks US industry sales are going down -30% by 2022. Ouch. Even if he's 1/2 right there's painful times coming.

    gm authority dot com/blog/2019/06/auto-industry-outlook-forecasts-30-percent-drop-by-2022/

    So we'll just have to see if Barra's moves pan out in the end...
    Maybe it has something to do with the quality that seems to be going to unexpected low levels while the prices are higher and higher for less and less features?

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    Re: GM CEO Mary Barra on the painful jobs transition

    Quote Originally Posted by Ed753 View Post
    ...Neighbor is looking to replace his 2/year 20K Trax LT lease; June 2017 $138 sign-n-drive. Same dealer is quoting him $238 this year, for an LS - He has since shopped around an found a deal for $197 still almost 50% higher than 2 years ago. This will result in GM (the entire industry) selling fewer vehicles...
    I'm still seeing low lease rates for Trax around here, how about $54/mo with $1K down 24mo--but I don't know the fine print. Equinox $74/mo same deal. This is a Chevy dealer on Long Island NY, I've never been there but they promote locally:

    https://www.atlanticchevrolet.com/New-Vehicle-Specials
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    Re: GM CEO Mary Barra on the painful jobs transition

    I have nothing against BEVs, but 20 new BEV vehicles by 2023 seems overly aggressive for the US. With concerns about the affordability of new cars GM dealers need to be very concerns. My neighbors in Florida would need to have significant financial incentives to pry them from their ICE vehicles especially with gas at its current price. Unfortunately, I see a sales drop of more than 30% is possible.
    if this transpires the "painful job transition" should be from the executive suite rather than the workers - - but it will probably be from both.

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