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☆ GM lays off 1,000 employees amid reorganization, cost-cutting
▼ + stars: | 2024-11-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

The GM logo is seen on the facade of the General Motors headquarters in Detroit on March 16, 2021. DETROIT – General Motors laid off roughly 1,000 employees on Friday as the automaker attempts to cut costs and realign priorities amid changing market conditions, according to a person familiar with the decision. The layoffs, which were announced Friday morning to those impacted, were across the business. A majority of the employees impacted were in suburban Detroit at the automaker's global technical center in Warren, Michigan, the person said. A small number of hourly employees were included in the layoffs.

Organizations: General Motors, DETROIT –, Motors Locations: Detroit, DETROIT, Warren , Michigan, China

☆ Chevrolet aims to defend highly profitable SUV market position with updated Tahoe, Suburban
▼ + stars: | 2024-10-16 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

2025 Chevrolet Tahoe GMDETROIT – General Motors has updated its highly profitable large SUVs for Chevrolet for the 2025 model year to defend the brand's long-standing segment leadership. The Detroit automaker's Chevrolet Tahoe and Suburban have led the mainstream full-size SUV segment for over 45 years, according to GM. For Chevrolet, the 2025 Chevrolet Tahoe and Suburban check many of those boxes and include the addition of GM's hands-free Super Cruise advanced driver-assistance system. Starting pricing for the 2025 Tahoe will range from about $60,000 for a Tahoe LS to more than $83,000 for the top-end High Country. 2025 Chevrolet Tahoe GM

Persons: Scott Bell, Bell Organizations: Chevrolet Tahoe GM DETROIT –, Motors, Chevrolet, Detroit, GM, Ford Motor, Nissan, GMC, Yukon XL, Ford, Cruise, CNBC, LS, CarMax, Chevrolet Tahoe Locations: Tahoe, Detroit, Yukon, U.S

☆ GM folding its all-electric BrightDrop vans into Chevrolet brand
▼ + stars: | 2024-08-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – General Motors is folding its all-electric BrightDrop commercial vans into the Chevrolet brand in an attempt to increase sales, accessibility and recognition of the vehicles. It helps our customers that choose to go into EVs to easily do so working with the Chevrolet dealer they know and trust now for their other fleet needs." The number of new dealers will be based on the amount that decide to opt in to selling and servicing the vans. To sell commercial EVs, dealers must have specific vehicle lifts, service bays and employee training, among other things. GM declined to disclose the average cost for a dealer to become certified to sell the BrightDrop products, citing expenses will vary based on the store.

Persons: Sandor Piszar, It's Organizations: DETROIT, Motors, Chevrolet, GM, CNBC Locations: U.S, North America, EVs

☆ GM indefinitely delays Cruise Origin autonomous vehicle
▼ + stars: | 2024-07-23 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – General Motors is indefinitely delaying production of its Origin autonomous vehicle as its embattled Cruise self-driving unit attempts to relaunch operations. The Detroit automaker said Tuesday its majority-owned robotaxi unit will instead focus on using the next-generation Chevrolet Bolt for development of autonomous vehicles. Cruise has been using now-discontinued Bolts for autonomous vehicle development for several years. It was not immediately clear how many Origin vehicles the facility has produced, however it was previously reported that ex-Cruise CEO Kyle Vogt, a cofounder, told staff that hundreds of Origin vehicles had been produced. Cruise in February 2022 petitioned U.S. regulators seeking permission to deploy up to 2,500 self-driving Origin vehicles annually without the human controls.

Persons: Mary Barra, Cruise's, Cruise, Rowe Price, Kyle Vogt Organizations: DETROIT, Motors, Cruise, Detroit, GM, Honda Motor, Microsoft, Walmart Locations: Detroit, San Francisco, Phoenix , Houston, Dallas, Dubai, U.S

☆ GM slows its EV plans again even as sales grow
▼ + stars: | 2024-07-23 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Barra's comments come a week after she raised concerns about GM hitting its North American EV production capacity target. The entire Buick brand has targeted being fully electric by 2030, as part of GM's plans to exclusively offer consumer EVs by 2035. GM previously announced plans for four of the multibillion-dollar plants in the U.S. by 2026. Barra on Tuesday said the company would grow cell production in a "meaningful cadence." GM CFO Paul Jacobson declined to discuss potential plans to delay or cancel the automaker's future EV battery cell plants, aside from the two facilities making cells in Ohio and Tennessee.

Persons: Motors, Mary Barra, Barra, Paul Jacobson, " Jacobson, EVs, Jacobson Organizations: DETROIT –, Buick, GM, American, Detroit, LG Energy, EV Locations: Detroit, DETROIT, U.S, Michigan, North America, Ohio, Tennessee

☆ GM's Cruise names former Amazon, Microsoft Xbox executive as new CEO
▼ + stars: | 2024-06-25 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

DETROIT – General Motors' Cruise autonomous vehicle unit on Tuesday announced former Amazon and Microsoft executive Marc Whitten as its new CEO. His appointment comes at a crucial time for Cruise, which is testing and relaunching its autonomous vehicles on public roadways. Following the incident, several key leaders, including Cruise CEO and co-founder Kyle Vogt, departed the company. The probe also investigated allegations of a cover-up by Cruise leadership, but investigators did not find evidence to support those claims. Cruise was a crucial part of GM's plan to double revenue to $280 billion by the end of this decade.

Persons: Marc Whitten, Whitten, Kyle Vogt, Marc, Mary Barra, Cruise, Rowe Price, Nick Mulholland, Craig Glidden, Glidden, Grant Dixton, Dixton, Mary Organizations: DETROIT, Motors, Amazon, Microsoft, Cruise, GM, Honda Motor, Walmart, Rivian, Activision Blizzard, Boeing Locations: San Francisco, Phoenix , Houston, Dallas, Dubai

☆ GM board approves new $6 billion share buyback authorization
▼ + stars: | 2024-06-11 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – General Motors on Tuesday announced a new $6 billion stock repurchase authorization has been approved by its board. The new buyback authorization comes as an accelerated $10 billion share repurchase program announced in November 2023 is expected to be completed by the end of this month. This allows us to continue returning cash to shareholders," GM CFO Paul Jacobson said in a release. The new authorization will allow GM to opportunistically repurchase shares after the completion of the existing reauthorization, the automaker said. The announced buyback plans come amid uncertainty surrounding the adoption of all-electric vehicles, which GM has bet heavily on, and stalling customer demand for new vehicles.

Persons: Paul Jacobson, Jacobson Organizations: DETROIT, Motors, GM

☆ GM trims 2024 EV forecast amid slower-than-expected demand
▼ + stars: | 2024-06-11 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – General Motors is trimming its expected sales and production of all-electric vehicles this year, as U.S. adoption of EVs occurs slower than expected. GM Chief Financial Officer Paul Jacobson said the company now expects production of 200,000 to 250,000 EVs this year, down from a previously announced range of 200,000 to 300,000. Jacobson said GM expects EVs to make up 8% of U.S. sales industrywide this year. GM expects its EVs to be profitable on a production, or contribution-margin basis, once it reaches production of 200,000 units. EV sales totaled 16,425 units, or 2.8% of the automaker's overall sales during the period.

Persons: Paul Jacobson, Jacobson, EVs Organizations: DETROIT, GM, Deutsche Bank Locations: North America

☆ Cadillac's new entry-level Optiq EV to start at $54,000
▼ + stars: | 2024-05-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – General Motors' new entry-level 2025 Cadillac Optiq electric vehicle will start at $54,000, the company said Wednesday. The compact-sized crossover is set to be Cadillac's fourth electric vehicle when it goes on sale later this year. It follows the $59,000 Lyriq midsize crossover, the $300,000-plus bespoke Celestiq sedan and the upcoming $130,000 Escalade IQ SUV. The Optiq will be sold in 10 regions, including North America, China and Europe, where it debuted Wednesday at a new Cadillac showroom in Paris. It comes as automakers attempt to expand the appeal of EVs with less-expensive models following slower-than-expected sales for the emerging vehicles.

Persons: Cadillac, John Roth Organizations: DETROIT, Motors, EV, Cadillac Locations: North America, China, Europe, Paris

☆ GM CEO Mary Barra says she has no plans to retire soon as automaker's transformation continues
▼ + stars: | 2024-05-23 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – General Motors CEO and Chair Mary Barra on Thursday said she has no plans to retire any time soon as she tries to ensure the company's transformation is on "a good path." Barra, who is the longest tenured CEO outside of the company's founder, has been asked about retirement for several years. "I'm having a lot of fun, and I want to make sure we have our transformation on a good path," she said during a fireside chat at a Detroit Economic Club meeting. Barra reiterated she serves at the pleasure of the GM board and that she continues to have "fun." Cruise and EVs, along with software-defined vehicles and services, have been among the largest potential growth areas under Barra, who became CEO in January 2014.

Persons: Mary Barra, Barra, I've, Cruise Organizations: Economic, Washington, DETROIT – General, GM, Detroit Locations: Washington , U.S, DETROIT, San Francisco, Barra

☆ GM can regain market share in China after hitting 20-year low, executive says
▼ + stars: | 2024-05-09 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Reuss also touted the competitiveness of GM's Chinese joint venture partners such as Wuling Motors. GM's market share in China, including its joint ventures, has plummeted from roughly 15% as recently as 2015 to 8.6% last year — the first time it has dropped below 9% since 2003. DETROIT – General Motors believes it can regain market share in China after hitting a roughly 20-year low last year amid changing market conditions and increased domestic competition, GM President Mark Reuss said Thursday. The market declines have spurred questions on whether GM would exit China, as it has other underperforming markets in recent years. The automaker said Steve Hill, currently GM's vice president of global commercial operations, would succeed GM China President Julian Blissett, effective June 1.

Persons: Mark Reuss, Reuss, " Reuss, Mary Barra, Steve Hill, Julian Blissett Organizations: Hamtramck Assembly, Wuling Motors, GM, Buick, DETROIT –, Motors, JV, Financial Times, Car, U.S . GM's, Chevrolet, China Locations: Detroit, Hamtramck, Michigan, China, DETROIT, U.S . GM's U.S

☆ GM U.S. vehicle sales fall 1.5% during the first quarter, underperforming other major automakers
▼ + stars: | 2024-04-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – General Motors on Tuesday reported a 1.5% decline in first quarter U.S. vehicle sales compared to a year ago, as the overall auto industry normalizes after years of disruptions and volatile results. Retail sales to customers were up 6%, GM said. GM's sales are below expectations for the overall industry, which Cox Automotive forecast to be up 5.5% from a year earlier. Buick was the only GM brand to report a sales increase during the quarter, up 16.4% from a year earlier. GM reported sales of its full-size pickups totaled roughly 197,000 units, up 3.6% from a year earlier, during the first quarter – marking their best performance during that time since the first quarter of 2020.

Persons: Marissa West Organizations: DETROIT, Motors, U.S, Detroit automaker, GM, Cox, Buick, GMC, Cadillac, Chevrolet, GM North America

DETROIT – General Motors' long-time head of manufacturing is retiring, and the company has hired a former Tesla and Google executive to fill his shoes. The Detroit automaker said on Tuesday that Gerald Johnson, executive vice president of Global Manufacturing and Sustainability, will pass the baton to Jens Peter "JP" Clausen, a former executive with Tesla, Lego and, most recently, Google. Johnson's departure isn't unexpected after a 44-year tenure with the automaker, however GM also announced another more surprising departure on Tuesday: that of Mike Abbott, executive vice president of software and services. Baris Cetinok, current vice president of product in software and services, has been named Abbott's interim replacement while a search is conducted. The company's board members include former Tesla President of Global Sales and Service Jon McNeill.

Persons: Gerald Johnson, Jens Peter, JP, Clausen, Johnson, Mike Abbott, Abbott, Baris Cetinok, Elon Musk, JB Straubel, Tesla's, Tesla, Gingko Bioworks, Jon McNeill Organizations: Motors, Global Manufacturing, Labor, DETROIT –, Google, Detroit, Sustainability, GM, Apple, Tesla, Softbank, company's, Technology, Global Sales Locations: Warren , Michigan, DETROIT, Nevada, Reno, Zymergen

☆ GM to spend $19 billion through 2035 to source EV battery materials from LG Chem
▼ + stars: | 2024-02-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – General Motors plans to spend $19 billion over roughly the next decade to source critical materials for use in electric vehicle batteries from LG Chem, the companies said Wednesday. The long-term supply contract will see LG Chem supply GM with more than 500,000 tons of cathode materials – include nickel, cobalt, manganese, aluminum – from 2026 through 2035, the South Korean supplier said in a release. LG Chem said it aims to "bolster cooperation with GM in the North American market" through the deal. Jeff Morrison, GM vice president of global purchasing and supply chain, said the "contract builds on GM's commitment to create a strong, sustainable battery EV supply chain to support our fast-growing EV production needs." The contract is likely one of the largest, if not the largest, EV supply deals that GM has signed.

Persons: LG Chem, Jeff Morrison Organizations: DETROIT, Motors, LG Chem, South, LG, GM, EV Locations: Tennessee, North America

☆ GM to release plug-in hybrid vehicles, backtracking on product plans
▼ + stars: | 2024-01-30 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – General Motors is changing its product lineup strategy to include plug-in hybrid electric vehicles, CEO Mary Barra told investors Tuesday. More companies are reconsidering the viability of hybrid vehicles to appease consumer demand and avoid costly penalties related to those federal fuel economy and emissions standards. Most of GM's main competitors offer traditional hybrids as well as plug-in hybrid electric vehicles. The only hybrid GM currently offers in the U.S. is a traditional hybrid version of the Chevrolet Corvette. GM led the way for plug-in electric vehicles with the Chevrolet Volt during the 2010s.

Persons: Mary Barra, Barra, Biden Organizations: Motors, DETROIT –, GM, Chevrolet Corvette, Chevrolet Locations: Detroit , Michigan, DETROIT, North America, China, U.S

☆ GM union workers ratify UAW deal following contentious vote
▼ + stars: | 2023-11-16 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – General Motors union workers ratified a record deal with the United Auto Workers after a contentious final few days of voting, according to results posted Thursday morning by the union. Ratification of the deal came under doubt Wednesday morning, after seven of GM's 11 U.S. assembly plants rejected the pact. But a swing in voting results in favor of the deal, specifically at a SUV plant in Texas, gave the agreement a much needed lifeline. According to the UAW's vote tracker, the deal was supported by roughly 54% of the more than 34,700 autoworkers at GM who voted. Results are still outstanding at two smaller GM facilities representing about 1,400 hourly workers, but wouldn't be enough to offset the roughly 2,500-vote margin.

Persons: they've Organizations: DETROIT, General Motors, United Auto Workers, Detroit, GM, UAW, Ford Motor, Chrysler Locations: Texas

☆ GM is expected to invest $13 billion in U.S. facilities under new UAW deal
▼ + stars: | 2023-11-04 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – General Motors plans to invest roughly $13 billion in U.S. facilities by April 2028, the United Auto Workers union said as part of its recent tentative agreement with the automaker. GM has already announced some of the planned investments such as $4 billion at Orion Assembly in suburban Detroit and $2 billion in Spring Hill, Tennessee, for new electric vehicles. GM was the last Detroit automaker to reach a tentative agreement following Ford Motor and Chrysler-parent Stellantis . GM's U.S. investments through the terms of the 4 ½-tear tentative compared to $8.1 billion announced by the union at Ford and $18.9 billion at Stellantis, including $6.2 billion in previously announced parts plants in Kokomo, Indiana. The details disclosed by the union for GM did not include billions in previously announced investments in four joint-venture battery cell plants in the U.S., including three upcoming facilities.

Persons: Mary Barra Organizations: United Auto Workers, UAW, General Motors, DETROIT –, Motors, GM, Orion Assembly, Detroit, Ford Motor, Chrysler, Ford Locations: Arlington , Texas, DETROIT, Detroit, Spring Hill , Tennessee, Lansing Grand, U.S, Kokomo , Indiana

☆ GM, Honda scrap plans to co-develop 'affordable' sub-$30,000 EVs
▼ + stars: | 2023-10-25 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

The 2024 Honda Prologue is one of two EVs being made by General Motors for the Japanese automaker, utilizing its Ultium battery technologies. DETROIT – General Motors and Honda Motor have canceled plans to jointly develop affordable electric vehicles as they face slower-than-expected demand and changing market conditions. The unwinding of the tie-up roughly a year and a half after it was announced is the latest in a string of decisions by automakers, specifically GM, to scale back or cancel previously announced EV plans. Each company remains committed to affordability in the EV market," GM spokesman Darryll Harrison said in an email. "Each company remains committed to affordability in the EV market."

Persons: GM's, Darryll Harrison Organizations: General Motors, DETROIT –, Motors, Honda Motor Locations: DETROIT

☆ GM to delay all-electric truck production at Michigan plant until late-2025
▼ + stars: | 2023-10-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

UAW Local 5960 member Kimberly Fuhr inspects a Chevrolet Bolt EV during vehicle production on May 6, 2021, at the General Motors Orion Assembly Plant in Orion Township, Michigan. A GM spokesman did not immediately respond to a request for comment regarding the company's EV production target. Alongside the Silverado EV, Factory Zero is currently building the GMC Hummer EV pickup and SUV and Cruise Origin shuttle. The plant was expected to be its second U.S. assembly plant to exclusively produce EVs. Roughly 1,000 hourly workers at Orion Assembly will have the option to transfer to other Michigan facilities until the retooling at Orion Assembly is completed.

Persons: Kimberly Fuhr, Motors, GM's Organizations: UAW Local, Bolt, General Motors Orion Assembly, DETROIT –, GM, Orion Assembly, Motors, Orion, United Auto Workers, UAW, Chevrolet Silverado, GMC, Silverado, Silverado EV, CNBC Locations: Orion Township , Michigan, DETROIT, Michigan, Detroit, North, Sierra

☆ GM's stock hits three-year low amid UAW strike, potential air bag recall
▼ + stars: | 2023-10-05 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Since the UAW union's targeted strikes began Sept. 15, shares of the Detroit automaker have fallen by about 10%. The stock closed Thursday at $30.31 a share, down by 2.4%. The potential recall of roughly 52 million air-bag inflators from Tennessee-based auto supplier ARC Automotive had been reported about previously, but the number of affected GM vehicles had not. The National Highway Traffic Safety Administration held a public meeting Thursday on its determination that the air-bag parts are defective and should be recalled, according to the report. Automakers, including GM, have until later this year to file responses on the matter.

Organizations: DETROIT, Motors, United Auto Workers, UAW, Detroit, Street, ARC Automotive, Traffic Safety Administration, GM Locations: Tennessee

☆ GM secures new $6 billion credit line as UAW strike costs reach $200 million
▼ + stars: | 2023-10-04 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – General Motors secured a new $6 billion line of credit as the automaker braces for additional strikes by the United Auto Workers union. The targeted strikes already cost the automaker $200 million during the third quarter, GM said Wednesday. A GM spokesman said the $200 million strike cost is due to lost production on wholesale volume, largely due to the UAW's initial Sept. 15 strike at GM's midsize truck and full-size van plant in Wentzville, Missouri. The strike has since expanded to GM's parts and distribution facilities nationwide and, as of last Friday, a crossover plant in mid-Michigan. As a result of the strike in Missouri, GM also idled its Fairfax Assembly Plant in Kansas, where it builds the Cadillac XT4 SUV and the Chevrolet Malibu sedan, and laid off nearly 2,000 workers.

Persons: General Motors, Paul Jacobson, CNBC's Phil LeBeau, Mary Barra, Jim Farley, Shawn Fain, Fain Organizations: DETROIT, General, United Auto Workers, UAW, GM, Fairfax Assembly Plant, Chevrolet Malibu, Ford Motor, Ford, Chrysler Locations: Wentzville , Missouri, Michigan, Missouri, Fairfax, Kansas

General Motors CEO Mary Barra talks with reporters following a meeting with lawmakers from Michigan and Ohio at the U.S. Capitol June 05, 2019 in Washington, DC. DETROIT – General Motors is attemping to avoid a looming strike by the United Auto Workers union through a new offer Thursday that includes significant pay increases, more vacation days and better benefits for retirees, among other perks. The proposal, which GM CEO Mary Barra called "compelling and unprecedented," addresses many of the union's demands but continues to fall short on others, such as a 40% pay increase over the four years of the deal that UAW sought. GM released details of the deal roughly nine hours before the UAW could initiate targeted strikes against GM, Ford Motor and Stellantis if deals are not reached by 11:59 p.m. "Today, we put a compelling and unprecedented economic package on the table that reflects the significance of this critical moment."

Persons: Mary Barra, Barra Organizations: U.S, Capitol, DETROIT –, United Auto Workers, UAW, GM, Ford Motor Locations: Michigan, Ohio, Washington , DC

☆ GM offers 10% wage increases, $5,500 ratification bonuses to UAW as strike looms
▼ + stars: | 2023-09-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

UAW Local 5960 member Kinethia Black fills the brakes of a 2022 Chevrolet Bolt EUV during vehicle production on Thursday, May 6, 2021 at the General Motors Orion Assembly Plant in Orion Township, Michigan. DETROIT – General Motors on Thursday offered its largest four-year wage increase in decades as part of a new contract proposal to the United Auto Workers, as the automaker attempts to avoid another costly strike by its unionized workforce. The wage increase for most of GM's roughly 46,000 UAW-represented workers would be 10%, while newer employees would be eligible for up to a 56% increase in wages over the four years of the deal, the company announced Thursday after meeting with union leaders and negotiators. The proposed contract also includes two additional 3% lump sum payments resulting in a total increase of 16%; $5,500 ratification bonus; $6,000 one-time inflation-recognition payment; and $5,000 in inflation-protection bonuses over the life of the agreement (in-progression employees are eligible). The UAW did not immediately respond for comment.

Persons: Kinethia Black, Bolt Organizations: UAW Local, General Motors Orion Assembly, DETROIT –, Motors, United Auto Workers, UAW Locations: Orion Township , Michigan, DETROIT

☆ GM, Google exploring ways to use AI across automaker’s business
▼ + stars: | 2023-08-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, March 16, 2021. DETROIT – General Motors is working with Google to explore opportunities to implement AI technologies across the automaker's business, the companies announced Tuesday. The IVA system is powered by "intent-recognition algorithms" that use Google Cloud's conversational AI technologies, providing OnStar users with responses to common inquiries, as well as routing and navigation assistance, GM said Tuesday. Some use cases could include vehicle validation, software and in-car assistance such as the OnStar service. GM previously said it was exploring uses for ChatGPT as part of its broader collaboration with Microsoft .

Persons: IVA, Mike Abbott, Mercedes Organizations: General Motors, DETROIT –, Google, Detroit, GM's, GM, Apple, ChatGPT, Microsoft, Mercedes, Benz, U.S Locations: Detroit , Michigan, DETROIT

☆ GM positions new Chevy Trax, Buick Envista crossovers to fill an affordability gap
▼ + stars: | 2023-07-11 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

In this article GM Follow your favorite stocks CREATE FREE ACCOUNT2024 Buick Envista GMDETROIT – General Motors is positioning two new crossovers from Chevrolet and Buick as its answer to affordability issues left by discontinued, cheaper sedans. GM's new 2024 Buick Envista and redesigned 2024 Chevrolet Trax crossovers start at $22,400 and $20,400, respectively. 2024 Chevrolet Trax (left) and 2024 Buick Envista Michael Wayland / CNBCExecutives from Buick and Chevrolet say they expect the vehicles to be among their bestsellers as production ramps up and the crossovers are imported from factories in South Korea. 2024 Buick Envista GMThe new Trax and Envista are sibling vehicles as they share the same platform and have similar interiors and silhouettes. 2024 Chevrolet Trax (right) and 2024 Buick Envista Michael Wayland / CNBC

Persons: Cox, Michelle Krebs, Envista Michael Wayland, Sam Russell, Russell, Chevrolet hasn't, Steve Majoros, Paul Waatti Organizations: DETROIT –, Motors, Chevrolet, Buick, Cox Automotive, GM, Toyota Motor, Hyundai, Trax, CNBC, Silverado, Chevy, Trailblazer Locations: South Korea

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