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GM profit dips on truck changeover, but beats estimates

DETROIT — General Motors on Thursday reported a higher-than-expected quarterly profit despite a drop in production of high-margin pickup trucks, as it gears up for new models that are expected to boost profits next year. Like rivals Ford and Fiat Chrysler Automobiles, GM is banking on highly-profitable Chevy Silverado and GMC Sierra pickup trucks to lift profits, as consumers shift away from traditional passenger cars in favor of these larger, more comfortable trucks, SUVs and crossovers. During the first quarter, the process of changing over to GM's new pickups resulted in a drop in production of 47,000 units. GM Chief Financial Officer Chuck Stevens said the production drop had resulted in a drop in pre-tax profit of up to $800 million. Earlier this year, GM said its 2018 profits would be flat compared with 2017, but expected its all-new pickup trucks would boost margins starting in 2019. On Thursday, GM reiterated its full-year 2018 forecast for adjusted earnings in a range from $6.30 to $6.60 per share. The automaker said capital expenditures were more than $500 million higher in the quarter because of investments its new pickup trucks and a family of low-cost vehicles under development with Chinese partner SAIC Motor Corp. On Wednesday, rival Ford said it would stop investing in most traditional passenger sedans in North America. CFO Stevens told reporters on Thursday that GM has "already indicated that we will make significantly lower investments on a go-forward basis" in sedans. 2019 GMC Sierra View 21 Photos GM benefited from a lower effective tax rate in the quarter, but adjusted pre-tax margin fell to 7.2 percent from 9.5 percent a year earlier. Stevens said the company's profit margin should hit 10 percent or higher in the second quarter and for the full year. GM said material costs were $700 million higher in the first quarter, and it expects those costs to continue rising. The automaker said it would counter those increases with cost cutting measures. "It is a more difficult environment than it was three or four months ago," Stevens said when asked about rising commodity prices from potential steel and aluminum tariffs announced by the Trump administration. "But we are confident we can continue to offset that." The company reported quarterly net income of $1.05 billion or $1.43 per share, a drop of nearly 60 percent from $2.61 billion or $1.75 per share a year earlier. Analysts had on average expected earnings per share of $1.24.

Common Dodge Ram 1500 vs. Chevrolet Silverado breakdowns

These two trucks are famous for their ability to get the job done. Still, even the toughest vehicle can have mechanical problems at some time. What if we match the Dodge Ram 1500 and Chevrolet Silverado head to head? Let's find out more about common repairs for each model. Also, learn some tricks to pay for car repairs. Clunky Steering Both Dodge and the Chevy owners sometimes notice bumping and clunking when steering. This might be more noticeable when driving over bumps. The cause is usually different in each truck though. In the Dodge Ram, clunky steering is more likely due to a defective lower ball joint. Replacement costs around $300 - $400, parts and labor. Clunky Chevy Silverado steering is probably a steering rack failure. This problem appears more often in trucks with over 90,000 miles. Silverado steering rack repair will run you up to $1,000 or more. Starting Woes For the Chevy Silverado with over 130,000 miles, you might notice trouble starting. This problem may appear occasionally at first, but it typically gets worse. Excluding a weak battery, the culprit is usually the starter. Replacement will cost you around $330 - $500. Of the total cost, $90 is for labor only. Now the Dodge Ram might make a ticking sound when starting, especially on models with over 94,500 miles. The noise often disappears after the engine warms up. These symptoms may indicate a broken exhaust manifold. Repair costs range from $800 - $900. Burning Oil & Gas Gauge On The Blink Sometimes, the Dodge Ram burns oil much faster than normal. In models with over 125,000 miles, this often points towards a leaky intake manifold gasket. A knocking sound may also appear with acceleration along with possible engine misfire. The cost to repair is around $200 - $300. The Chevy Silverado has its own surprises, especially when you've filled the gas tank but the gauge still reads low. Or the needle fluctuates widely from low to full while driving. In trucks with over 120,000 miles, it's likely due to a faulty fuel sensor. You might need a full fuel pump replacement, which can cost you up to $820, parts and labor. Water Inside And Poor Heat The Ram 1500 rear window has been known to leak. You might notice the back seat and floor wet after a rainstorm. This is more common in trucks with over 65,000 miles. Resealing the Ram 1500 rear window costs around $150 - $250.

2015 Chevrolet Corvette Z06 Beauty Roll

For those of you paying attention, we've really ramped up the old Autoblog video game these days. Our new series Car Club USA joins Translogic and The List, and there are more Daily Drivers and Short Cuts than ever. But sometimes, all you care about is the car. The Autoblog Beauty-Roll video series has one goal: bring you glossy video of cars, and nothing but. We're collecting moving pictures of all the cars we test, inside and out. Each episode comes with a hit of engine sound – start-up and with a few revs – to round out the package. Set your resolution to max, kick it into full-screen, turn up the sound, and enjoy today's subject, the 2015 Chevrolet Corvette Z06. Oh, and if you'd like more Beauty-Roll, click here to see the back catalog.