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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.

Buick teases electric concept crossover for China

Buick released a teaser image of a new all- electric concept SUV it's calling the Enspire. It'll bow at Buick Brand Night on April 17 in Wuzhen, Zhejiang, and be on display to the public at the Beijing auto show later in the month. Buick says only that the Enspire "leverages GM's global resources and is an exploration of design and new technologies. It is the brand's latest example of innovation and application of future electric smart mobility." The darkened, right rear three-quarter shot shows a rounded rear fascia, a narrow tail lamp that stretches the length of the tailgate and a third brake light on the roof spoiler. While this concept is clearly aimed at China, GM Authority notes that General Motors previously filed to trademark the "Enspire" name in the U.S. in 2015. GM CEO Mary Barra outlined the company's electrification plans for investors in November and included a slide of an unbadged crossover under the title "Leveraging existing BEV platform to expand in near term," which some are speculating could be this Enspire concept. It also suggests that Buick could be developing a vehicle based on the Chevrolet Bolt platform. GM plans to l aunch 20 new EVs by 2023, targeting 1 million electric-vehicle sales by 2026. Buick is GM's best-selling brand in China, comprising about 1.2 million vehicles sold in 2017. Buick last year showed off the Velite 5, an extended-range hybrid based on the Chevrolet Volt, as a production car for China. Related Video:

Buick Enclave gets continental makeover with Tuscan trim

Buick is trying to lend an air of Italian elegance to the Enclave with its newly announced Tuscan Edition that's available on the crossover for the 2016 model year. Named after the famously hilly and fertile region of Italy, the package brings some bronze accents to the CUV. As the very specific trademark filing for the Tuscan suggests, the special edition adds bronze trim to the uprights in the grille, and the metallic color finds its way into the embellishments on the 20-inch chrome wheels, too. Buyers also get to choose from three shades when ordering the package: White Frost Tricoat, Dark Chocolate Metallic and Ebony Twilight Metallic. Beyond those trim upgrades, the Tuscan Edition is just like any other Enclave. The package can only be ordered on the Leather and Premium trims, and all of their features are still available including a power moonroof, park assist, HID headlights and many luxury features inside. As with the rest of the range, power comes from a 3.6-liter V6 with 288 horsepower and 270 pound-feet of torque that routes through a six-speed automatic. There's also a choice of front- or all-wheel drive. The Italian-inspired CUV makes its debut at the New York Auto Show in just a few days and brings its bronzer to dealers this summer. Buick Introduces 2016 Enclave Tuscan Edition Bronze accents distinguish crossover that ignited brand's renaissance 2015-03-26 DETROIT – Buick today introduced the 2016 Enclave Tuscan Edition – a more distinctive expression of the popular crossover, highlighted by a bronze-tone grille and 20-inch chrome-clad wheels with bronze accents. The Enclave sparked Buick's renaissance eight years ago and continues to fuel its momentum, with 2015 sales building on record sales of 62,300 in 2014. "Buick's quality, refinement and style continues to attract more customers and this modern resurgence started with Enclave," said Duncan Aldred, vice president of Buick. "It was a pioneer for three-row luxury crossovers and remains one of the segment's most popular. The new Tuscan Edition celebrates Enclave's achievement and rewards owners with a higher level of distinction." The 2016 Buick Enclave Tuscan will be on display at the New York International Auto Show and goes on sale this summer on the Leather (1SL) and Premium (1SN) trims. It is offered in three premium exterior colors: White Frost Tricoat, Dark Chocolate Metallic and Ebony Twilight Metallic.