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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

2019 Buick LaCrosse Sport Touring isn't that sporty

The 2019 Buick LaCrosse Sport Touring is presumably a new, sportier version of Buick's large sedan. And on the surface, it does look more exciting. It has less chrome trim than its counterparts, the grille gets a body color surround and a black wire mesh insert. It has a simple little spoiler at the back, 19-inch wheels, and the all-important badging. We can't imagine Ford is thrilled at the use of the "ST" nomenclature on display at the back, though. Unfortunately, Buick hasn't really done anything to actually make this car sportier than other LaCrosse sedans. It has the same 3.6-liter V6 found in other versions making the same 310 horsepower and 268 pound-feet of torque. That power goes through the same nine-speed automatic as the others, too. Additionally, the Sport Touring is only available with front-wheel drive. Still, if you like the style, and the LaCrosse's standard performance is suitable to you, you'll want to know how much it costs. Base price is $41,220. You'll also have a choice of five colors: white, black, red, and two kinds of silver. And if the LaCrosse ST isn't sporty enough for you, you might want to check out the Regal GS. It has the same engine, but with a bit more torque, all-wheel drive, is in a smaller body, and has hatchback versatility. Related Video: Featured Gallery 2019 Buick LaCrosse Sport Touring Image Credit: Buick Buick Luxury Sedan

Opel readying Adam model with SUV cues

The Opel Adam, the microcar of General Motors' European subsidiary, has seen its sales cool significantly since it first hit the market in the United Kingdom and Europe, but a push is reportedly under way that just might be enough to get the stylish, little car moving again.
Using the Opel Adam Rocks Concept as a template, Opel will ruggedize the Adam, so that it might compete with the growing herd of city cars that sport SUV styling, like the Volkswagen Cross Up and Fiat Panda 4x4, according to a report from Automotive News Europe. Sporting a bumped-up ride height and tougher body work, it's a dedicated soft-roader, but will freshen the Adam's lineup and, hopefully, broaden its customer appeal.
The Adam Rocks, according to IHS Automotive analyst Ian Fletcher, should also make some more coin for GM's struggling European arm. "Automakers are happy to meet demand for SUV and crossovers as the customer pays a premium," Fletcher told ANE. And although the Rocks might have been planned from the start as a production vehicle, the timing, with the Adam's sales slowdown, doesn't seem like a coincidence.