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General Motors posts record earnings, but global sales fall

General Motors started the year with record success. The automaker's $2.7 billion in adjusted earnings before interest and taxes was its highest ever in in the first quarter of 2016, up from $2.1 billion in from the same time period a year earlier. Net income grew to $1.95 billion, which was more than double the $953 million in the same period last year. The company's figures also beat analysts' predictions, according to the Detroit Free Press. Despite the financial growth, global sales actually decreased by 2.5 percent to 2.36 million vehicles. "We're growing where it counts, gaining retail share in the US, outpacing the industry in Europe and capitalizing on robust growth in SUV and luxury segments in China," CEO Mary Barra said in the company's financial announcement. GM did well in North America with an adjusted EBIT of $2.3 billion, up from $2.2 billion last year. Sales in the region also grew 1.2 percent to 800,000 vehicles. According to The Detroit Free Press, the company has been especially successful at selling more expensive models in the US. The company's average vehicle was $34,600 in Q1, about $3,000 more than the industry average. Elsewhere in the world, GM also showed improvement. Europe practically broke even after losing about $200 million last year, and Opel and Vauxhall sales grew 8.4 percent to more than 300,000 vehicles for the quarter. South America only lost $100 million, which was half as much as Q1 2015's $200 million loss. China remained flat at $500 million of income. Cadillac volume jumped 6.1 percent there, and Buick's deliveries increased 22 percent, thanks to the Envision crossover's success. GM Reports First-Quarter Net Income of $2.0 Billion 2016-04-21 EPS diluted of $1.24; First-quarter record EPS diluted-adjusted of $1.26 First-quarter record EBIT-adjusted of $2.7 billion GM Europe posts break-even performance DETROIT – General Motors Co. (NYSE: GM) today announced first-quarter net income to common stockholders of $2.0 billion or $1.24 per diluted share, compared to $0.9 billion or $0.56 per diluted share a year ago. Earnings per share diluted-adjusted for special items was a first-quarter record at $1.26, up 47 percent compared to the first quarter of 2015. The company set first-quarter records for earnings and margin, with earnings before interest and tax (EBIT) adjusted of $2.7 billion and EBIT-adjusted margin of 7.1 percent.

Buick luxury sedan design sketch would make a great flagship

Over the Thanksgiving holiday General Motors posted a sketch of a futuristic Buick sedan to social media. In fact, the sleek wedge is just the latest in a series of illustrations that seem to point the way to a luxury EV coming in 2024 (for model year 2025). That's when Buick has promised its first fully-electric vehicle, with the promise that the entire lineup will be gasoline free.           View this post on Instagram                       A post shared by GM Design (@generalmotorsdesign) The sketch shows a low, long sedan that seems to be inspired (or perhaps served as the inspiration for) the Buick Wildcat concept revealed in June. However, there are significant differences as well. The sketch shows a profile that's more cab backward than the Wildcat's, with a gently sloping roofline that's more Audi A7 than the physical car's aggressive Nissan GT-R-like top.  The front end is less busy than the Wildcat's as well, with the chrome better integrated into the fascia and headlights. Similar brightwork appears on the rocker panels and on the fenders behind the wheel arches, cues the Wildcat concept lacks. Buick's updated logo sits at the end of a sporty BMW-esque trough on the hood. Of course, the exaggerated wheels have such little clearance they wouldn't really be able move or turn, much less survive a pothole, but we can forgive that artistic liberty. Other recent sketches shown on the GM Design account on Instagram show a more refined version of the same sedan, but without the Wildcat's Honda CR-V-esque taillights. Another super-luxurious coupe with hints of Syd Mead looks just as beautiful but is unbranded and may work better as a Cadillac. The Buick brand feels a bit redundant these days, but stunning designs like these could help differentiate the brand. The General has plenty of trucks and SUVs already. If it's going to foist crossover after crossover at us, maybe the Buick division could stand out as the sedan-and-coupe-only brand. Related video:

Is that a Cascada on Buick's Detroit show stand?

The above image is a close-up of one particular car spotted in a rendering that Buick provided of its stand at next week's Detroit Auto Show. Two doors, four seats, no top, deep and arcing shoulder line - any idea what that might be? We're going to guess it's the coming Buick Cascada, only we're stretching the definition of the word "guess" since the car is a dead ringer for the Americanized Opel droptop, which we drove more than a year ago. Looks like it's finally going to get the 'Official' treatment as a 2016 model, after it was shown to dealers last August. There have also been rumors that the car will be called Velite, but newer rumblings out of the Renaissance Center suggest that such gossip is a dead-end. The Cascada will enter a segment with no real competitors, since the Chrysler 200 ragtop is gone and a Buick convertible vs. Ford Mustang and Chevrolet Camaro convertibles isn't really a thing, and we think will make a nice expansion of the brand's model-range footprint. The big bit of news we're waiting for is what's going to power it, a Euro-sourced four-cylinder with 168 or 197 horsepower? We don't have long to wait to find out. Related Gallery 2013 Opel Cascada: Quick Spin View 50 Photos News Source: GM AuthorityImage Credit: Copyright 2014 AOL Detroit Auto Show Buick Opel Convertible Luxury Detroit buick cascada opel cascada