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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.

2020 Buick Encore GX First Drive | Bringing serenity to the subcompact market

With Buick seeing sales success in our crossover-crazed world, it’s no wonder the company is adding to its crossover lineup with the 2020 Buick Encore GX. It sits just above the existing Encore, and it offers more space and new turbocharged engines for just a bit more money. In fact, as it starts at just $900 more than the existing Encore and offers more power, space and fuel economy, itÂ’s unquestionably the Encore version to get when heading to your Buick dealer. But compared with other crossovers, the BuickÂ’s only real advantage is in its quietness, refined powertrain and upmarket badge. Otherwise it's a fine but unexceptional crossover. Powering the Encore GX is your choice of small turbocharged three-cylinder engines. The standard engine, available with every trim, is a 1.2-liter unit making 137 horsepower and 162 pound-feet of torque. ItÂ’s only able to be paired with a CVT and front-wheel drive. ItÂ’s also not the most efficient powertrain offering, returning 28 mpg in town, 31 on the highway, and 29 combined. The optional engine, available only on the upper two trims Select and Essence, is a 1.3-liter example making 155 horsepower and 174 pound-feet of torque. This engine can be paired with a CVT and front-wheel drive, or a nine-speed automatic transmission with all-wheel-drive. Also, because of efficiency boosters such as an offset crankshaft, electric oil pump, electric brake booster and electric turbo wastegate, itÂ’s the most efficient choice. With the CVT and front-wheel drive, the Encore GX manages 30 mpg in the city, 32 on the highway, and 31 combined. The all-wheel-drive version only gets 26 mpg in town, 29 on the highway and 28 combined. Our test car was an Encore GX with the 1.3-liter engine and the CVT, and on paper, itÂ’s the engine to go with. ItÂ’s more power with less fuel use. And while itÂ’s not the most powerful car in its segment, its torque is accessible throughout the rev band, so it never feels slow. Buick has done an excellent job keeping the engine quiet, either through powertrain refinement or through extensive sound deadening. YouÂ’ll never hear more than a faint growl from under the hood. The CVT is absolutely the transmission to choose, too. ItÂ’s amazingly smooth and unobtrusive. The revs are always kept low and thereÂ’s just enough variance in them that it doesnÂ’t feel like a rubber band. It responds fast to your right foot, too, so you arenÂ’t waiting for more rpm when needing to accelerate faster.

GM cutting vehicle trim options to save money for electrification

Information continues to filter out about GM's plans based on comments the automaker made during its Capital Markets Day event in February. GM President Mark Reuss said the company's push to save money by rationalizing the number of build combinations will continue in 2020, carrying on the work done in 2019. As GM Authority covers, last year, the carmaker cut 3,500 components across model lines, a 12% drop in the number of parts it needed to stock in its plants. Reuss used the next-generation Chevolet Equinox and GMC Terrain as examples for more cost efficiencies, saying build possibilities — which include international markets and their options — will be cut by more than 50%, and use more shared parts. "We will reduce total trim levels on Equinox and Terrain from eight to six," Reuss said, "reduce engine variants from 11 to 5, reduce build combinations from more than 200 to less than 100 per program, and see significant cost savings of an already paid-for architecture that took the mass out, helping us self-fund electrification programs." GM will plow a large amount of the money it saves into its ambitious EV program. In 2017, the automaker said it intends to have 20 electric vehicles on the market by the end of 2023, some of which could be shared between brands. An automotive analyst at Seeking Alpha and a piece in Automobile attempted to put specifics to what we should expect. As Automobile points out, the first two EVs in the 20-car program are already on sale, being the Ariv Meld and Ariv Merge eBikes available in Belgium and The Netherlands. We've seen the Cruise Origin autonomous rideshare taxi, although we don't know when it will hit the road. The next three, which we should see in the metal shortly, are two Cadillac EVs and the GMC Hummer EV pickup. The Cadillac pair are expected to be sized like the XT4 and XT5, and along with the Hummer, should hit the market starting in late 2021.