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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 CT4 spy shots reveal sedan-heavy approach in age of SUVs

You're looking at some pictures of the 2020 Cadillac CT4, which will be smaller than the upcoming CT5. And since they're both smothered in similar-looking camouflage, which is specifically intended to confuse, you might think they look pretty similar. In isolated photos, it's sometimes hard to tell which sedan you're looking at. In fact, when we first saw this car recently, we also thought it was a CT5. Here's how we know they're actually two different cars. Some background: The CT5 is slated to replace the CTS, and to try and find the balance that the old car couldn't achieve in the lineup. Cadillac's former CEO previously stated that this car would also fill in for the ATS, which is on its way out. Whatever it ends up being, it'll have to make a clear case for itself against the CT6 — it can't be too close in size and opulence, or they'll hurt each other in sales. And the CT5 can't be too small, or it will struggle against traditional midsize luxury cars. The CT4 could further complicate matters for the exact same reasons, just in a smaller package. How small can Cadillac make it? It seems poised to replace the wonderful-to-drive ATS, which was as allergic to sales as the XTS. This will give Cadillac a three-sedan lineup: CT4, CT5, and CT6. Let's hope there's enough differentiation between them to prevent consumer confusion and sales cannibalization — and that consumers understand the CT6's promotion via attrition to top dog in the sedan lineup. With all that out of the way, let's look more closely at the CT4 (above left) and CT5 (right). The CT4's greenhouse stops closer to the centerline of the rear wheels than the CT5's. That gives the CT5 a visually longer, leaner look, more of a semi-fastback arrangement. The CT5's rear vanity window should resemble the CT6's, with a glass element behind the door opening. The CT4 will have a more conventional vanity window in the door, like the ATS. Perhaps the quickest "tell" is the size of the side-view mirrors, which are rounder in the CT4 and leaner in the CT5. Out back, the CT4 has a lower cutout for the license plate than the CT5. The exhaust outlets are also different, although that may change for production. Remember, the big full-width rear lights are probably misdirection on the part of the GM camo team. The entire rear decklid of the CT4 has more roundedness to it, while the CT5's extra width gives it more room up top to spread the decklid out a little flatter.

Weekly Recap: Ford GT inspires guitar, foosball table, sailboat

Ford design vice president Moray Callum had just wrapped up a briefing on the interior of the Ford GT last month, but something seemed out of place. He grinned and pointed behind him, "You might be wondering why I have a boat behind me," he said mischievously. It was there because Ford set its designers on a mission to stretch and showcase their talents: design non-automotive objects inspired by the interior of the GT supercar. Callum received quite a response, too. His team produced a guitar, a foosball table (yeah bro!), a racing sailboat, a Wi-Fi speaker and some furniture. As the veteran design chief explained, "It's a really great exercise both to highlight our designers' talents, but also to really see how our design philosophy can work and how you can use it and get a common response back from a worldwide design team." Guitar View 25 Photos The objects have been on display this week at the Salone del Mobile furniture and fashion design fair in Milan, Italy, where Ford has had a presence for three years. There's also a light exhibition that apparently was inspired by the GT, as well. While this might seem a little far-fetched for the automaker, Ford said exhibitions like the Salone del Mobile give its designers another way to be creative and ultimately produce striking interior style. Ford wants this to be a differentiator, as research shows consumers are placing emphasis on the layout and features inside when they're making a decision about buying a new car. It's a little light hearted – but it's also potentially big business. Other News & Notes Cadillac CT6 platform could be used for Buick General Motors product chief Mark Reuss said the Cadillac CT6 platform could be used for a large Buick, though "not yet," Automotive News reported. The underpinnings can accommodate rear-wheel or all-wheel drive and would give Buick the large flagship it lacks. The report jibes with comments Reuss made at a roundtable with Autoblog and other reporters at the New York Auto Show. When asked if Buick had space for a large car on the CT6 chassis, he replied, "Yeah, I think it does. Yeah, I think we do." Buick has revamped its lineup in recent years with attractive crossovers and small and midsize sedans, but hasn't added the proverbial flagship that's yearned for by enthusiasts. Buick surprised industry observers with the stylish Avenir concept at the Detroit Auto Show earlier this year that raised the possibility of a halo sedan.