Tag Archives: Canadian

Motorsport

GM Expects $9.3 Billion Cost from New UAW Labor Deals

GM revealed in a business update that its new UAW and Canadian Unifor labor contracts will increase costs by $9.3 billion through 2028. Alongside this, the company announced $10 billion in stock buybacks and a 33% increase in stock dividends.

The new UAW contract, ratified in November with a 54.7% vote, includes a 25% pay increase and job security for union workers in the shift to electric vehicle production. This additional cost equates to about $575 per vehicle over the contract period, which expires in 2028.

The six-week UAW strike had an estimated $1.1 billion impact on GM’s earnings before interest and tax.

CEO Mary Barra stated that they are finalizing a budget to offset the incremental costs of the new labor agreements and are working on reducing the capital intensity of the business, developing products more efficiently, and further lowering fixed and variable costs. With a clear path forward and a strong balance sheet, the company aims to return significant capital to shareholders.

In a $10 billion buyback program announced on Wednesday, GM plans to repurchase and retire $6.8 billion worth of its common stock immediately, with the remainder to be bought back through 2024.

Additionally, GM announced a 33% increase in its common stock dividend, from nine cents per quarter to 12 cents per quarter, expected to take effect at the start of 2024.

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BRC/YAMAHA 500cc TWO-STROKE: FIRST RIDE

BRC, a Canadian company, is dedicated to reviving the 500cc two-stroke era. They have developed their own motor which they supply in a kit for you to complete. In this particular case, we have used a 2023 Yamaha YZ250 as the “donor bike.” It comes with the complete YZ chassis and essential internal engine parts required to finish the build. Join us as we familiarize ourselves with this bike at Glen Helen Raceway in this episode of our Premix video series.

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Letti Holds off Billy Bolt for Red Bull Outliers Hard Enduro Win

Manuel Lettenbichler started strong and won his fourth straight FIM Hard Enduro event at the Canadian Outliers. ” I managed to get up most of the hills without any problem and that helped me to conserve as much energy as possible. I bent my handlebars pretty good on one of the last uphills so that was a bit of a worry. Being the first to reach some of the sections was a bit of a disadvantage, because it was so slippery. Four wins in a row now, I’m speechless.” Photo: Mason Mashon / Red Bull Content Pool

Manuel Lettenbichler, the reigning Hare Enduro World Champion and winner of the first three championship events of the year won his fourth straight, the Red Bull Outliers Hard Enduro held in Canada. Team Husqvarna’s Billy Bolt took home second place, followed by local hero Trystan Hart and his Factory FMF KTM.

Billy Bolt: “I had a good start with Mani, and we rode together early on. I had a few mistakes throughout, but generally I was happy with my riding. On the final lap I had one big mistake that allowed Mario to close the gap to me, but I managed to recover and get some breathing room coming into the final big section. I got onto Mani’s wheel there but had pushed a bit hard and just didn’t have an answer to him at the end.” Photo: Tyler Ravelle / Red Bull Content Pool

Letti started off with a big win in the prologue which gave him the pole position start. Bolt and Letti jumped out in front of a dusty, and tenacious course. Behind them chaos ruled. Sherco’s Mario Roman got caught in a crash zone, moving up to third with Wade Young and Trystan Hart in the hunt. Roman kept the leaders in sight in the two and half-hour race, but could never reel them in. Mario’s teammate Wade Young hit the wall on after charging hard losing touch with the lead pack on lap two.

Trystan Hart: “Not the result I wanted to get here at my home race, but I have to be happy with a podium. The prologue didn’t go my way – I made a few too many mistakes there, and today was the same. I got caught up in the mayhem early on and was chasing the whole way after that and it really took everything out of me. It’s great to get onto the podium in front of all my home fans, I just wish it was a couple of steps higher.” Photo: Tyler Ravelle / Red Bull Content Pool

Trystan Hart had to fight hard through dusty conditions and viscous terrain using valuable energy in an attempt to catch the Mani/Bolt duo. The final hill climbs were titanic and played a big role in the finish. Bolt had some drama and gave Mani some gap, and allowed Mario Roman to pull in closer. Billy charged hard to the finish, got within striking distance of Mani but didn’t have enough to challenge. Letti won by 41-seconds over Bolt, Trystan Hart finished third, edging past Roman, who had a good lead on his teammate Wade Young.

Billy Bolt and Manuel Lettenbitchler were this close in the closing stages battling on the epic hills at the Red Bull Outliers. Photo: Tyler Ravelle / Red Bull Content Pool
Breathing clear air off the start proved crucial. Photo: Tyler Ravelle / Red Bull Content Pool

Winners, Billy Bolt, Manuel Lettenbichler, and Trystan Hart at Red Bull Outliers Photo: Mason Mashon / Red Bull Content Pool

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Watch: Can-Am’s Upcoming Electric Motorcycles In Action

In August 2022, Canadian powersports manufacturer Can-Am announced its plans to enter the motorcycle market. Focusing on the growing electric motorcycle market, Can-Am has recently revealed a teaser video showcasing one of its upcoming electric motorcycles in action. While specific details about the motorcycle are lacking in the video, it is highly likely that the featured bike is the Origin, Can-Am’s electric dual-sport machine.

Watch: Can-Am's Upcoming Electric Motorcycles Action

From the video, it is evident that the Origin is equipped with 21-inch front and 18-inch rear wheels, geared towards off-road performance. Other features include an inverted front fork, rear monoshock, front and rear disc brakes, and a striking single-sided swingarm.

In addition to the Origin, Can-Am is also expected to release a street-focused model called the Pulse. Described as a “balanced and agile motorcycle designed to immerse riders in the energy of the city,” the Pulse will cater to urban commuting. Compared to the Origin, the Pulse features alloy wheels, shorter suspension, and more compact dimensions.

Watch: Can-Am's Upcoming Electric Motorcycles Action
Watch: Can-Am's Upcoming Electric Motorcycles Action

Although specific power and range details are yet to be announced, the Can-Am electric motorcycles will incorporate advanced technology. Can-Am has stated that the bikes will be powered by Rotax E-Power motors and possess “highway-worthy speeds with plenty of horsepower and torque.” Other notable features include LED lights, a large TFT display, and level-2 fast-charging technology.

The global unveiling of Can-Am’s electric motorcycles is scheduled for summer 2024, with deliveries expected before the end of that year. Interested individuals can sign up on Can-Am’s dedicated website to receive updates on the development of these electric motorcycles.