2022 Cadillac Ct5 4dr Sdn Luxury 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.

Cadillac cancels sponsorship of Trump's PGA event

Cadillac has ended its sponsorship of the PGA's World Golf Championship, which has incited a response from Donald Trump, the presumptive Republican presidential nominee. Without the automaker's money to run the event at a property owned by Trump in Miami, the PGA announced it will move the WGC to Mexico City. Trump responded by saying, "Cadillac's been a great sponsor, but they're moving it to Mexico. They're moving it to Mexico City which, by the way, I hope they have kidnapping insurance. They're moving it to Mexico City. And I'm saying, you know, what's going on here? It is so sad when you look at what's going on with our country." In 2010, the PGA announced a multi-year deal with Cadillac to sponsor the WGC, starting in 2011. Since 2007, the event has been held at what is now known as the Trump National Doral Miami location. Trump took ownership of the property in 2012. Cadillac issued a statement to Autoblog that says: "We are proud to have been the title sponsor of the World Golf Championships-Cadillac Championship since 2011. We have made the decision, however, not to extend our sponsorship beyond this year. We thank the PGA TOUR for a great six years with the Cadillac Championship." Related Video: News Source: Talking Points MemoImage Credit: Elijah Nouvelage/Getty Images Auto News Government/Legal Cadillac Mexico City

2020 Cadillac XT5 spied undisguised with infotainment from CT5

The reveal of the 2020 Cadillac XT5 crossover must be seriously near, because one of our spy photographers caught the new one completely undisguised. Seriously, there aren't any vinyl coverings anywhere, and the interior was completely bare, too. The update is minimal for the most part, but the interior reveals a big infotainment change. Before we get inside, we'll do a quick overview of the exterior. The front grille has a new mesh insert, and the lower air dam has a wider, thinner metallic accent. At the back, the colors for the faux skid plate or diffuser motif have been swapped. And that's it for the exterior. See? Told you it would be quick. The interior is nearly unchanged, too, except for the aforementioned infotainment system. Instead of the current model's touchscreen-only interface, the new XT5 adopts the control knob featured in the XT4, XT6 and CT5. It fits quite naturally behind the electronic shift lever. If it's like the system in other Cadillacs, fans of the touchscreen shouldn't worry, because you'll still be able to use the touch functions if you wish. Odds are we're months away from the new XT5 hitting dealers, since this is clearly a finished prototype. It will most certainly offer the same 3.6-liter, 310-horsepower V6 and 8-speed automatic of the current model. It's possible Cadillac will introduce a slightly more affordable 2.0-liter turbocharged inline-4 as an option, possibly even a turbo inline-4 hybrid powertrain, since both powertrains are available on the current Chinese-market XT5.