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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.

Junkyard Gem: 2000 Buick Regal GSE

Except for a break from 2005 through 2010, and an indefinite break after this year, The General has been selling the Buick Regal since the 1973 model year. From 1988 to 2005, the Regal rode on the same GM W-Body front-wheel-drive platform as the Chevy Impala and Pontiac Grand Prix, and some of the more interesting W Regals came with ever-hairier versions of GM's supercharged Buick V6 engine. These Eaton-blown Regals were big, comfortable and quick, but they've nearly disappeared from roads by now. I found this 2000 GSE, the kingliest Regal of that year, in a Colorado self-service yard last month. Some junkyard shopper had already grabbed the Eaton M90 blower from this car by the time I got here, because everyone wants a blower or nine stashed in the garage (I have five at the moment). If you're looking to junkyard-supercharge your AMC Pacer wagon race car and use a Soviet truck carburetor for fuel delivery, the Eaton M90 is about the easiest to remove from the junkyard and the easiest to rig up on the car. This engine made 240 horsepower when new, giving the Regal GSE quarter-mile times below the 15-second mark. The price of the 2000 Regal GSE started at $25,300, or about $38,640 in 2020 dollars. You could get the same engine engine and chassis with the Pontiac Grand Prix GTP sedan for $24,610, giving you near-identical performance and a sportier (but less dignified) look. Buick didn't bother making a manual transmission available in any North American W-Body Regal after the 1993 model year. This reduced the fun level in these cars, but probably spared owners a lot of broken axles, CV joints, and hubs. This car has the optional Monsoon speaker system, also found in some Volkswagens of the same era. Apparently Monsoon systems for home computers were all the rage during the early 2000s. Did the Oshawa plant lift that "One grade only and that the best" slogan from the Canadian Corps in Passchendaele in '17? It sounds like a Commonwealth slogan of an earlier era. This car looks pretty good inside and out, but most Colorado buyers seeking a powerful used four-door these days seek out trucks. It doesn't take much of a mechanical problem (or accumulation of parking tickets) to doom a car like today's Junkyard Gem. So many features!

Buick dusting off Grand National, GNX and T-Type nameplates

Inside Line reports Buick is planning to bring back some of the more storied names from the company's past, including the Grand National, GNX and the T-Type. Those cars rose to prominence in the 1970s and '80s to become performance legends of their day.
The new models will reportedly make use of the rear-wheel drive platform that currently underpins the Cadillac ATS and all would arrive as sedans - according to an unnamed source familiar with the initiative. Odds are the T-Type and the Grand National would share a driveline, with honest money being on a new twin-turbocharged 3.6-liter V6 as the engine of choice. Word has it the mill will be good for anywhere from 350 to 400 horsepower.
That leaves only the GNX. Inside Line seems to think that machine could get down the road with some help from the all-new GM LT1 small-block V8. The engineers behind the ATS platform have already told us the engine bay is large enough for to accommodate the big eight pot, and since GM is most certainly working on an ATS-V, a slightly less powerful, less luxurious Buick iteration makes some kind of sense. We can't wait to see these things in the light of day.