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GM profits threatened by glut of pickups

Automotive News reports that General Motors may slash production or ramp up discounts in order to deal with an oversupply of pickup trucks. GM currently has more than double the standard supply of pickups, and the vehicles are threatening to dampen the automaker's profits for 2013. Typically, automakers try to sustain a 60- to 75-day supply of vehicles, but GM is currently loaded with a 139-day supply, as of last month. At the end of November, the automaker was sitting on 245,853 units.
The manufacturer says that it will adjust production accordingly before laying any incentives on the profitable pickups. Even so, there's some concern that the inventory swell could hurt the roll-out of the next-generation Chevrolet Silverado and GMC Sierra. GM actually began slowly stepping back production in August, but it's clear the company will take further action as it heads toward the end of the year and into the next. Analysts predict the automaker could reduce pickup manufacturing by nearly half in the first quarter of 2013.
That still may not be enough to keep GM from laying extra cash on the Silverado and GMC Sierra. While the company's incentive spending was down in November compared to the same month in 2011, both the Ram 1500 and Ford F-150 saw double-digit percentage increases in sales last month while the Silverado and Sierra numbers slid compared to a year prior. Incentive spending could help move more trucks and add some balance to the GM inventory surge.

GM renders new Chevy Colorado, GMC Canyon pickups

At a series of industry seminars in Traverse City, MI today, General Motors executive vice president Dan Ammann gifted us with our first glimpse of the upcoming midsize pickup range from Chevrolet and GMC.
Just two slivers of nose are all we can see of the soon-to-be announced Chevy Colorado and GMC Canyon, though the teaser image does make plain that the pair will follow the styling cues (at least up front) found on big brothers Silverado and Sierra.
GM hasn't given us much in the way of detail in its ultra-brief press release that accompanied the teaser image, which is to be expected. We're told only that the pair of trucks are designed to be "capable, versatile and fuel-efficient alternatives to full-size pickups" and that production will start sometime in 2014, at the Wentzville, MO assembly center.

370,000 new Silverado and Sierra pickups recalled over fire risk

General Motors announced late Friday that it will recall around 370,000 Chevrolet Silverado and GMC Sierra fullsize pickups from the 2014 model year over a possible fire risk. The recall covers select 4.3-liter V6 and 5.3-liter V8 models, which can evidently suffer engine compartment fires due to the overheating of exhaust components. GM notes that the fire issue may be preceded by a check engine light and an "engine power reduced" message on the driver information display.
Thus far, GM is aware of eight fires stemming from this problem (although only three of those incidents affected customer-owned vehicles), and all of the fires were reported in areas with "very cold weather." GM is urging owners to not leave their vehicles unintended while idling. No injuries have resulted from the fires in question.
The Detroit-based automaker has pledged to start mailing out recall letters on January 16. The fix, which involves software reprogramming, is estimated to be a 20-minute repair, and will be made free of charge.