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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

Cadillac CT6 to get twin-turbo V8

Say what you will about his decisions at Infiniti and now Cadillac, but Cadillac CEO Johan de Nysschen knows how to deliver a compelling interview. During an online Q&A session with Jalopnik readers, de Nysschen offered substantial hints at what's coming for the brand. By dropping coordinates on the brand's star chart, in reading the entire thing and connecting the dots you can see a Cadillac that is much grander than the one we know now. The CT6 that got revealed during the Oscars telecast? Answering the question of whether it would have the performance to compete with a Mercedes S550 or BMW 750, de Nysschen said the big sedan's "lightweight body structure allows us to achieve formidable performance even with a twin-turbo V6. Imagine how this car would perform with a twin-turbo V8." In clarifying a subsequent question that also dealt with how the CT6 would compare to German rivals, he wrote that the CT6 would have "a very wide mix of engines, starting with a two-liter turbo, up to, eventually, a high-performance advanced V8 turbo." Patience and the future and the word "eventually" were heavy themes. The brand will embrace diesel engines as well, de Nysschen writing, "We will have four-cylinder and six-cylinder diesel engines, but not before 2019." As to the return of something like the XLR, which was Corvette muscle underneath a Cadillac body, he wrote, "I think in the fullness of time, we will get around to developing a high-performance, very-emotive sports car as a halo for the Cadillac brand. But we have so many projects to occupy us through 2020 that this will have to wait a little while." And on the design language across model lines, which enthusiast Cassandras have warned is too similar (as if that hasn't worked out for the Germans), he wrote that it is "undergoing gradual evolution and you will notice stunning new designs in future models, which remain unmistakably Cadillac and reflect our DNA but which take our sophisticated Art and Science design to a new level." But of course he would say that, which is what brings us back to patience and the future and eventually, when we'll see what this all really means. It all reads well enough, and we'd love to see it happen. One thing we won't see are the ducks that once adorned the Cadillac crest; when a reader asked if he could have them back, de Nysschen said, "No, you can't have them back. I play with them each night in my bath." Head over to Jalopnik for the full read. It's worth it.

2021 Cadillac CT5-V Blackwing spied up close, showing off bronze wheels

Here is yet another closer look at the upcoming Cadillac CT5-V Blackwing sedan. Some pertinent details have been flying around this one for a while now. A photo of the interior showing a manual transmission is the latest leak, and it’s also one of the most exciting. Reports have also shone light on the engine: ItÂ’s supposed to be getting an updated version of GMÂ’s 6.2-liter supercharged V8. There will be no shortage of horsepower and torque. These latest spy shots reveal a couple of other new developments. For one, we get a really great look at the wheel and tire package on the car. Those dark bronze wheels are new, and they sure do look like production-style wheels to us. If anything, they remind us of the Brass Monkey wheel color found on Challengers and Chargers. Wide Michelin Pilot Sport 4S tires wrap those wheels. It gets 305-section-width tires in back and 275-section-width rubber in front. The wide, staggered setup is no surprise considering that this car will very likely put out more than 640 horsepower. ThereÂ’s a great deal of camouflage missing from the car as a whole, too. The hood is out in the open, and the same goes for the upper portions of the doors. ThatÂ’s because those parts of the car are virtually identical to the regular CT5-V. Sorry, no massive hood scoop on this sedan. The front grilleÂ’s lower opening does look significantly taller on this car, though. And where the standard CT5 has covered up fake vents, this car appears to have real, open venting. All the lighting is the same, but the maw of the CT5-V Blackwing is definitely much more aggressive than the standard CT5-V. Cadillac hasnÂ’t provided us with a date on when the new CT5-V Blackwing will be revealed, but has assured us that itÂ’s coming soon. We expect its little sibling, the CT4-V Blackwing, will debut right alongside this one. Related video: