1963 Buick Riviera, 2rd Hardtop, Nailhead V8, Auto, Power Windows,very Original on 2040-cars

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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.

1969 Buick Riviera is latest Hot Wheels Legends finalist

The Hot Wheels Legends Tour traveled to Southern California, one of the bastions of car culture in the United States, to find the next custom-built car that it will add to its catalog of scale models. The winner of the latest stop is a 1969 Buick Riviera turned into a head-turning lowrider. Owned by Mario and Nora Zamudio of Los Angeles, the big coupe is finished in a color called Pagan Gold and fitted with bright wire wheels. The husband-and-wife team spent four years working nights and weekends to build the Riviera. They removed the exterior trim pieces to achieve a cleaner look, spent a considerable amount of time detailing the engine bay and fitted a hydraulic suspension system. The interior received the custom treatment as well. Pagan Gold accents on the dashboard complement the exterior, there's an aftermarket steering wheel with three bright spokes, and the beige and brown upholstery finishes to the look. Readers familiar with Riviera models from the 1960s will notice that some of the switches aren't original; they're used to control the hydraulic suspension. Power for this Riviera comes from the original 430-cubic-inch (7.0-liter) V8, which was rated at 360 horsepower and 475 pound-feet of torque in 1969. It spins the rear wheels via a three-speed automatic transmission, and we bet it sounds excellent. One Buggy Mud Muncher Raptor View 13 Photos This eye-catching Riviera will move on to the semifinal round this fall, where it will compete against previous winners for the chance to get scaled down into a Hot Wheels model. The list of past winners is stunningly diverse: it includes a Volvo-powered 1968 Volkswagen Beetle, a kei truck turned into a monster truck, and a 1973 Toyota Celica powered by a General Motors-sourced V8 and nicknamed Tokyo Trans Am. Related Video: Buick Wildcat EV Concept Walkaround

2014 Chevy Malibu, Buick LaCrosse recalled over brake mix-up

The recall madness over at General Motors isn't letting up anytime soon, as evidenced by this latest call-back of 8,208 Chevrolet Malibu and Buick LaCrosse sedans. For those keeping track, this is the fifth recall that GM has announced in the past two weeks, not to mention the massive ignition-switch issue from earlier this year.
GM issued a statement saying these sedans are being recalled due to "possible reduced braking performance," according to Automotive News. The problem? Rear brake rotors may have accidentally been installed in the front brake assembly. And since both cars use more robust braking systems up front than out back, braking power could be reduced, increasing the risk of a crash.
Automotive News reports that, of the over 8,000 cars being recalled, about 1,700 are currently in the hands of customers, while the others are still in dealer inventory. GM is unaware of any crashes or injuries related to this problem. All of the affected vehicles are from the 2014 model year.