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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

2013 Buick Encore

City, Slicker
We admit it. We have no earthly idea how this whole thing is going to shake out.
Typically, after driving a new car or truck, we come away prepared to hazard a guess as to whether said model has a good chance of being a sales success. We've amassed enough time watching the industry, scrutinizing the competitors, and so on, to make a reasonably educated bet. Yet here we are, days removed from driving the new 2013 Buick Encore, and we still have no bloody idea.

Next Buick Regal to inherit styling cues from Opel Monza concept

Ever look at a concept car from a foreign auto marque like Opel and wonder what relevance it will have to you as an American consumer? Well, we'll tell you: at least as far as the Opel Monza concept goes, it could mean a lot.
Speaking with Automotive News at the Paris Motor Show, Opel chief Karl-Thomas Neumann said, "You will see the Monza when you see the next Insignia." And the Insignia, we needn't point out, is essentially ported over to American showrooms as the Buick Regal.
The relationship between the Regal and Insignia only stands to grow closer as Opel design chief Mark Adams has also been charged with tightening the bonds between the two automakers positioned on opposite shores of the Atlantic. Adams also intends to imbue the next Insignia with more "premium brand values" in order to "add polish to the brand." Which in turn means that the Regal will be designed to look more upscale, too.