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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.

Cadillac CT6 beefs up with 400-hp twin-turbo V6

Cadillac's engine lineup is set to get a makeover led by the potent powerplants under the hood of the CT6. Our man Steven Ewing is onsite at an event in Detroit reporting all the details. Here's what we know so far: The CT6's top engine will be a 3.0-liter twin-turbo V6. It's the first twin-turbo with cylinder deactivation, which essentially makes the V6 able to convert to a V4 unit. Power will be 400 horsepower at 5,500 rpm and 400 pound-feet of torque at just 2,500 rpm. No word on what a potential CT6-V would get. The CT6 will also have a naturally aspirated V6 that Cadillac is claiming to be all-new. It's rated at 335 hp at 6,800 rpm and 284 lb-ft at 5,300 rpm. That's an improvement of 14 hp and nine lb-ft compared with today's 3.6-liter V6, and fuel economy increases nine percent. Cadillac says it's the highest output for a naturally aspirated V6 that's SAE-certified and runs on regular fuel. Both of these V6s will have stop/start technology and will be paired to with eight-speed automatic transmissions. The 3.6-liter V6 will also be used in the 2016 CTS and the 2016 ATS. Meanwhile, Ewing reports that Cadillac says the ATS-V is actually more powerful than initially announced, though there are no numbers to flesh that claim out as yet. The brand also plans to offer four- and six-cylinder diesel engines in various vehicles and new V8 options. The CT6 bows at the New York Auto Show. It will use an aluminum-intensive body that reduces weight by 198 pounds compared with a steel setup and continues Cadillac's creased design language used on the CTS and ATS models. The CT6 goes into production late this year in Detroit. Related Video: Cadillac Next-Gen V-6 Engines Led by 3.0L Twin Turbo Segment-leading power, efficiency in world's most advanced six-cylinder DETROIT – Cadillac today announced a new generation of V-6 engines, led by an exclusive Twin Turbo V-6 that will be one of the industry's most advanced six-cylinder gasoline engines. It leverages the latest technology to balance efficiency, performance and refinement in the upcoming, top-of-the-range CT6 luxury performance sedan. The all-new Cadillac 3.0L Twin Turbo is designed to achieve new thresholds of refinement and specific output for the brand's new prestige luxury sedan, which makes its world premiere March 31, at the New York International Auto Show. Production begins late this year at General Motors' Detroit-Hamtramck Assembly Plant.

Combative de Nysschen defends Cadillac move, naming change

Johan de Nysschen isn't afraid of taking quick, decisive actions, even if they are criticized. Since taking the wheel at Cadillac, he instigated moving the luxury division's base of operations to Manhattan's SoHo neighborhood and introduced a new naming scheme for the future of the brand, like he did at Infiniti. The polarizing boss recently explained his feelings about the future of Cadillac in more depth on his Facebook page, but unfortunately only his friends could read it. Thankfully, Daily Kanban posted much of the strongly worded missive for the whole world to see.
Much of the message examines the decision to move some employees to New York. De Nysschen claims that it's all about giving Cadillac distance from Detroit to reshape itself. It allows for, "No distractions. No side shows. No cross-brand corporate considerations. No homogenized lowest common denominator approach. Just pure, unadulterated, CLASS."