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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

2020 Cadillac XT5 makes its official debut, adding a new engine and improved tech

The 2020 Cadillac XT5 is here, and it’s new in some significant ways. To start, it gets a slightly revised look. We got a preview of it a month ago when Cadillac revealed the car in China, but these are official U.S.-specific photos now.  YouÂ’re looking at pictures of the XT5 Sport and Premium Luxury here. We mention this because Cadillac is continuing in its “Y” trim strategy of offering a Luxury, Premium Luxury and Sport version of their cars with noticeable design differentiation between each one. The Sport gets a darker appearance package with the XT4-like grille, as opposed to the Premium Luxury that is set to emphasize bright trim (i.e. chrome).  WeÂ’re expecting a noticeable change in the driving experience for the 2020 XT5, as the new base engine is the 2.0-liter turbocharged four-cylinder that debuted in the XT4. ItÂ’ll be making 237 horsepower and 258 pound-feet of torque in this application, just as it does in every vehicle GM is spreading it to. The 3.6-liter V6 is standard on the Sport (optional on Premium Luxury), and continues to make 310 horsepower and 271 pound-feet of torque. Both engines are paired with nine-speed automatic transmissions now — the V6 was paired with an eight-speed previously.  Cadillac has also spent some time with the suspension, giving the non-Sport trims “revised front struts and driveline enhancements to improve ride comfort and road isolation.” We like the sound of that. Then, the Sport trim is legitimately sportier than the Luxury trims. Cadillac has fitted its continuous damping control adaptive suspension, given it quicker steering, standard all-wheel drive and standard 20-inch wheels. All that should make it slightly more lively through the twisties. A smattering of tech updates are coming onboard for 2020. Cadillac added its rotary controller that lets you control the updated infotainment system via that device or through the touchscreen. Available wireless phone charging, revised USB ports and USB Type-C ports come on the 2020 XT5. Then youÂ’ll notice new interior color and trim gracing the interior surfaces, as well. Cadillac says there are more “authentic materials” than before, so hopefully that means less plastic. What Cadillac made no mention of in its release, is Super Cruise. ItÂ’s going to be coming to the recently revealed CT5 and CT4-V sedans, but Cadillac doesnÂ’t seem particularly keen to get it on the crossovers yet.

Watch the 2014 Cadillac CTS live-stream reveal

Despite many an image leaking onto the Internet over the weekend, today is the official day for the debut of the all-new 2014 Cadillac CTS. You want the nitty-gritty details of Cadillac's new sedan? Click here.
If you want to watch the 2014 CTS makes its live debut in front of a throng of auto journalists, then just watch below, as Cadillac is live-streaming the event at 7:15 PM EST. That's only a few minutes from now, so click here to start watching, and stay tuned for our first live images of the CTS from the New York Auto Show.