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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.

2014 Buick Regal GS AWD

"This is just silly," I said as I laughed my way sideways around the icy track at Circuit ICAR, a racecourse, drag strip and kart track at the Montreal-Mirabel International Airport in Quebec. It wasn't the activity that had me cracking up, though. After all, winter driving experiences aren't uncommon in this business.
No, in this particular case, it was the car that had me chuckling. I wasn't in a mad hot hatch or a rally-derived rocket - I was in a Buick. The 2014 Regal GS, to be more precise. Somehow, despite its recent product renaissance (not to mention its distant - yet storied - history of performance models), I was having a hard time believing that this attractive, turbocharged, all-wheel-drive sedan sliding around the Great White North could possibly be wearing a Tri-Shield badge on its nose.
But it was, and slide about it did. While having access to a vehicle in this setting is fairly rare, what's rarer is the fact that I've had so much exposure to it. In Mr. Ewing's recent Volkswagen Golf R drive story, for instance, his ice capades were his first experience with the new model. In my case, though, I was lucky enough to first test the refreshed Regal GS for a week back in December before flying to Quebec to drive it on the snowy, icy, winding roads of Canada's most fiercely independent province and on the track at Mirabel.

2024 Buick Envision reportedly delayed, stripped of Super Cruise

It appears the Chevrolet Traverse isn't the only GM product trying to climb out of production hell. Remember, Chevy had to delay the start of production for the all-new third-generation 2024 Traverse, leading to the second-gen 2023 model carrying over for a brief spell as the Traverse Limited until the all-new SUV comes off the line in real numbers. According to GM Authority, Buick is in similar straits with the 2024 Envision. The automaker showcased a range of subtle cosmetic updates and some tech enhancements for the SUV over the summer, providing enough detail to be a little more than a tease, a little less than a debut. At that time, the 2024 Envision was meant to be on sale before the end of this year. Now GMA says the market launch for the 2024 Envision has been pushed back to late 2024 for as-yet-unknown reasons. This timeline marks the third delay. Just one month after the June reveal online, GMA wrote that the original October date for the start of production had been moved to December 11. Dealers began submitting orders at the end of September in anticipation of October production. Sometime after the October deadline passed, a November update claimed production would commence in the first quarter of 2024. We imagine the late 2024 date could move again, perhaps forward; that's a year out, it's possible GM gets good news before then. What's more, GMA also reports the 2024 Envision won't come with Super Cruise. This was going to be the first Buick with GM's hands-off driving feature, but again, for undisclosed reasons, plans have changed.  What we're pretty sure we can expect whenever the refreshed Envision arrives is a new front end with a bigger grille positioned lower on the front fascia, bright trim, and the new Buick emblem on the hood. The headlights are now integrated into the bumper, LED daytime running lights replace the outgoing Envision's headlights. The revamped look brings the Envision in line with other recent additions to the Buick range, like the Encore. Because Buick released a single photo for the summer reveal, we still have no idea what the Envision's back end and interior look like. The change in plans could mean a reworked trim lineup for the holdover. According to early figures from Autodata, the 2024 Envision will only come in three all-wheel-drive trims, Preferred, Sport Touring, and Avenir. This change would eliminate all the front-wheel-drive trims available in 2023 across the Preferred, Essence, and Avenir trims.