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GM posts $4 billion third-quarter profit thanks to trucks and SUVs

DETROIT — General Motors is posting huge third quarter numbers, pulling in $4 billion in profit over three months after losing money due to the virus outbreak. GM's adjusted earnings were $2.83 per share, easily outpacing Wall Street's per-share projections of $1.43, according to a survey by FactSet. Revenue of $35.5 billion also edged out most expectations. Shares jumped almost 6% before the opening bell Thursday. The company swung back from a $806 million loss in the second quarter, when it was restarting factories shuttered for safety during the early stages of the pandemic. The Detroit automaker joined most global automakers in reporting better-than-expected earnings from July through September as sales across the globe started to rebound from coronavirus lockdowns, especially in China. GM sales in China jumped 12% in the third quarter, with sales of its Buick and Cadillac brands both rising more than 25%. In the U.S., GMÂ’s most profitable market, sales fell 9.9% in the third quarter compared with a year ago, but were a dramatic improvement over the 34% drop in the second quarter. Sales improved sequentially each month, the automaker said, an encouraging trend. GMÂ’s profit was boosted by higher-priced pickup trucks and large SUVs, which have seen strong sales in the U.S. through the pandemic. It was the best quarter on record for GM's Chevrolet Blazer. Sales of the Cadillac XT6 spiked 45% in the U.S. over last year. Large pickups also sold well. GM also said it was pumping $2 billion into its Spring Hill, Tennessee manufacturing plant to push its transition to produce electric vehicles. Last week, crosstown rivals Fiat Chrysler and Ford reported strong third-quarter net income. FCA said it made $1.4 billion for the period, while Ford earned $2.39 billion. Related Video: Earnings/Financials Buick Cadillac Chevrolet GM GMC

Buick unveils new Verano hatchback in Guangzhou

This is a Buick Verano. We know, it doesn't look like a Verano – or at least not the version we get here. In fact it looks more like the new Opel Astra with a Buick grille. Which makes sense, because that's pretty much what it is. The vehicle you're looking at is the new Buick Verano Hatchback, unveiled just days ago at the Guangzhou Motor Show in China – arguably the only market that matters as much to the brand as the United States. Like the sedan revealed this past April in Shanghai, the hatchback is a newer model than the US-market version, based on the new Opel Astra, but with that signature waterfall grille. Otherwise, it looks virtually identical to the version sold as an Opel in Europe and a Vauxhall in the UK. Buick will be offering two versions of the Verano hatch in China. The base model pairs a 1.5-liter inline four good for 117 horsepower and 108 pound-feet of torque to a six-speed dual-clutch transmission. The sportier Verano GS packs a more potent version of the same engine, rated at 166 hp and 184 pound-feet and paired to a seven-speed DSG. That's enough to propel it to 62 in 8.8 seconds, but displacing less than 1.6 liters, both versions come in under the Chinese tax threshold so they're taxed 50-percent less. Between the Verano and Astra, we've now seen this new model in three different body-styles being sold in markets around the world. The sedans, hatchbacks, and wagons seem to be proliferating like so many jackrabbits, but keep hopping away just out of reach. So here's hoping that the next leap it takes will be to US showrooms. Related Video: Buick Launches Verano Hatchback and Verano GS Priced from RMB 145,900 to RMB 205,900 2015-11-18 Guangzhou – Buick launched the new Verano Hatchback and Verano GS this evening in Guangzhou, China. The five variants of the two newest members of the Verano family are priced from RMB 145,900 to RMB 205,900. Buick's 740 dealerships across China have begun accepting pre-orders. The new Verano models have trendy, sporty styling along with European car-like handling, premium interiors and advanced technology. They are targeted at younger trend-setting consumers who are looking for a driving experience that is "born with sportiness." Stylish and sporty exterior The Verano Hatchback and Verano GS have adopted Buick's latest design language for sport sedans. The brand's signature waterfall grille has taken on a creative frameless design, with a newly added piano black finish.

2025 Buick Enclave revealed with new looks, technology

The 2025 Buick Enclave has been revealed, and as expected it combines Buick's current corporate styling with the new-generation three-row SUV platform shared with the Chevy Traverse and GMC Acadia. It also gets plenty of standard features and technology, along with the first Buick implementation of Super Cruise. The design of the Enclave is much more boxy and upright than the extra-curvy model that precedes it. Even the wheel arches have been squared-up. It's coupled with the shark-nose front fascia taken from the Wildcat concept that has adorned every other vehicle in Buick's lineup. The whole thing is slightly larger than before, too, though Buick didn't specify by how much. And as is the case with most Buicks, there's a base Preferred model, as well as Sport Touring (ST) and Avenir trims that receive appearance tweaks in addition to different feature sets. The ST adopts black trim, including in the grille, whereas the Avenir uses bright metal trim and body color wheel arches, plus larger 22-inch wheels (Preferred and ST have 20-inch wheels). The interior is the biggest upgrade by far, though. Immediately obvious is the standard 30-inch combination instrument and infotainment display. It has a curvy, inverted trapezoid shape that has a slight retro-futurism vibe. It sits atop a low, wide and gently curved dashboard, one with a small set of physical short-cut buttons above the center air vents. A "floating" center console rises to meet the dash, though stops short of connecting to it. Adjustable ambient lighting is standard in here, along with power, heated seats, wireless device charging, wireless Apple CarPlay and Android Auto, plus a 12-speaker Bose sound system. Avenir upgrades the sound system to 16 speakers, adds a panoramic sunroof, front seat ventilation and massage function, rear seat heating and a head-up display. Mechanically, the Enclave is basically the same as the Traverse and Acadia. It uses the new platform and also gets the turbocharged 2.5-liter four-cylinder as the sole engine option. In the Enclave, it makes 328 horsepower and 326 pound-feet of torque, the same as the GMC, and a tad more than the Chevy. An eight-speed automatic is the only transmission offering, though both front- and all-wheel drive are available. Towing capacity is again mirrored at 5,000 pounds, and Super Cruise is available, making Enclave the first Buick with the hands-free driving assist system.