1963 Buick Riviera on 2040-cars

Auto blog

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.

Jay Leno recaps Pebble Beach

Each year at the Pebble Beach Concours d'Elegance the picturesque, ocean-side setting of the golf course becomes a parking lot for a vast array of multi-million dollar vehicles. However, if you missed the posh event this year, then Jay Leno has you covered yet again. For a nearly hour-long installment of Jay Leno's Garage, the comedian has dumped his denim in favor of a suit to take viewers on an insider tour of the lavish gathering. He interviewed some of the most talented designers in the auto industry, too. Leno starts off checking out a few beautiful classics by the shore, but things really get interesting for his stroll down the Concept Car Lawn for a scoop on the vehicles of tomorrow. Ed Welburn tells Leno all about the Buick Avenir, and Shiro Nakamura offers a tour of the Infiniti Q60. Plus, there are detailed looks at the Lincoln Continental, Hyundai Vision G Coupe, and Bentley EXP 10 Speed 6. News Source: Jay Leno's Garage via YouTube Bentley Buick Hyundai Infiniti Lincoln McLaren Classics Videos Pebble Beach Jay Lenos Garage infiniti q60 buick avenir bentley exp 10 speed 6

2016 Buick Cascada convertible isn't afraid of Detroit's snow

It's the great irony of introducing a convertible in Detroit – while the assembled media might look at the car and imagine warm weather and clear skies, the atmosphere outside is anything but. Such was the case Sunday as Buick rolled out the 2016 Cascada in Detroit's Eastern Market. Snow didn't dampen the atmosphere, though, as we clapped eyes on the sleek, Astra-based convertible for the first time. While this is far from the first product Buick has borrowed from General Motors' European operations, unlike previous vehicles, changes for the Cascada were kept to a minimum. There is no waterfall grille or four-way portholes, which Buick was sure to install when converting the Insignia and Mokka to the Regal and Encore. Then again, neither of these styling treatments were really necessary, as the Cascada remains a handsome and stylish offering. Its cabin is typical of other Buicks, and features a few too many buttons on the center stack. Still, a thick-rimmed, flat-bottomed steering wheel, similar to what's found in the Verano, is both attractive and functional, while the perforated leather seats looks quite comfortable, as well. Take a look at our gallery of live images, which includes shots of the Cascada with the top up and down, and then head back to our original post on the new convertible for all the mechanical details.