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GM earnings rise 1% as buyers pay more for popular pickups

DETROIT — General Motors said Thursday that higher prices for popular pickup trucks and SUVs helped overcome slowing global sales and profit rose by 1% in the second quarter. The Detroit automaker said it made $2.42 billion, or $1.66 per share, from April through June. Adjusting for restructuring costs, GM made $1.64 per share, blowing by analyst estimates of $1.44. Quarterly revenue fell 2% to $36.06 billion, but still beat estimates. Analysts polled by FactSet expected $35.97 billion. Global sales fell 6% to 1.94 million vehicles led by declines in North America and Asia Pacific, Middle East and Africa. The company says sales in China were weak, and it expects that to continue through the year. In the United States, customers paid an average of $41,461 for a GM vehicle during the quarter, an increase of 2.2%, as buyers went for loaded-out pickups and SUVs, according to the Edmunds.com auto pricing site. The U.S. is GM's most profitable market. Chief Financial Officer Dhivya Suryadevara said she expects the strong pricing to continue, especially as GM rolls out a diesel pickup and new heavy-duty trucks in the second half of the year. "We think the fundamentals do remain strong, especially in the truck market," she said, adding that strength in the overall economy and aging trucks now on the road should help keep the trend going. Light trucks accounted for 83.1% of GM's sales in the quarter, and pickup truck sales rose 8.5% as GM transitioned to new models of the Chevrolet Silverado and GMC Sierra, according to Edmunds, which provides content to The Associated Press. As usual, GM made most of its money in North America, reporting $3 billion in pretax earnings. International operations including China broke even, while the company spent $300 million on its GM Cruise automated vehicle unit. Its financial arm made $500 million in pretax income. Suryadevara said GM saw $700 million in savings during the quarter from restructuring actions announced late last year that included cutting about 8,000 white-collar workers through layoffs, buyouts and early retirements. The company also announced plans to close five North American factories, shedding another 6,000 jobs. About 3,000 factory workers in the U.S. whose jobs were eliminated at four plants will be placed at other factories, but they could have to relocate. GM expects the restructuring to generate $2 billion to $2.5 billion in annual cost savings by the end of this year.

GMC Sierra 1500 AT4X: Can you sleep in it?

Autoblog may receive a share from purchases made via links on this page. Pricing and availability are subject to change. The recently introduced GMC Sierra AT4X is an impressive combination of off-roading and luxury. But can you sleep in it? Pickups are great for towing campers or as a platform upon which to build out overlanding rigs, but from the factory they usually aren’t as useful as SUVs to sleep in, considering half of the length of the vehicle is taken up by the bed. Let's see how the AT4X fares. Space The biggest thing to consider when it comes to camping in your car is whether or not there is enough space in it for you and possibly a partner to lay down comfortably. This is tough when it comes to pickup trucks, which are hampered by the fact that half (or more) of the length of the vehicle is taken up by the bed of the truck. Some trucks have added features like lie-flat seats that make sleeping in them a bit easier, though itÂ’s still not a perfect solution. Unfortunately the AT4X is not one of those trucks. While the seats do lay back quite a good amount, I wasnÂ’t able to get comfortable enough to rely on them for a good nightÂ’s rest. To the rear we go. If youÂ’re vertically challenged, you may be in luck, especially if you donÂ’t sleep stretched out. The Sierra 1500 is a wide truck, almost 7 feet wide in fact. The rear bench measures 56 inches in width, which isnÂ’t a great option for most adults unless you really like sleeping in the fetal position. ItÂ’ll do in a pinch but I wouldnÂ’t expect to get a great night's sleep again and again.  Below the bench, which folds up and out of the way, is a relatively flat floor which can offer a bit more length. At 63” it still isnÂ’t enough for me to lie down with the doors closed, but it is much less cramped than spending the night on the bench. The subtle bump in the middle of the floor, which is much less severe than the ridges in the bed, can easily be remedied by an inflatable sleeping pad like the Sea to Summit Ether Light XT, or, even better, a cheap air mattress from Walmart. The Bed The bed of the AT4X seems like the most logical place to sleep. After all, it is named the bed for a reason right? If you have an inflatable mattress, then sure, but due to the ridges on the floor, a simple sleeping pad and sleeping bag will not be enough here. Additionally, the length of the bed leaves something to be desired.

Next-gen Chevy Silverado and GMC Sierra may use carbon fiber

It's been generally accepted that the next generation of full-size GM trucks will use some sort of strong, lightweight material for the beds while retaining steel for the cab. While aluminum seems like the most obvious choice, according to Automotive News, the Chevy Silverado and GMC Sierra will incorporate both aluminum and carbon fiber in their beds. The publication cites sources from within GM, though it seems the introduction of this comparatively exotic material mix is still a few years off. While carbon fiber is both stronger and lighter than steel and aluminum, it takes significantly more time and money to produce, essentially relegating the material to small-volume cars. The main benefit for trucks is the resulting reduction in weight to improve fuel economy without sacrificing the tough, rugged capabilities truck buyers expect. The Ford F-150 made the switch to aluminum for the 2015 model year and it's proved highly successful. It seemed like it was only a matter of time before the competition followed suit. Automotive News says that the next-gen trucks will launch with aluminum beds and that it will take a couple of years before we'll see any carbon fiber incorporated into the design. Even then, only look for the composite material on higher-trim models, with a trickle down to lower-spec trucks possible further in the future. In 2011, GM announced it was working with Japan-based Teijin Limited on a carbon fiber reinforced thermoplastic. There's a good chance that material's introduction will be on trucks. Related Video: News Source: Automotive News Plants/Manufacturing Rumormill Chevrolet GM GMC Truck