1978 Cadillac Eldorado Biarritz Custom Classic on 2040-cars

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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 SRX likely to see next-gen built in China

Here's some shocking news to no one: People love crossovers, including those living in China. Since introducing the Cadillac SRX there in 2009, the model's sales have gone through the roof. Now, the brand is considering moving some production of the next-generation model in China to eliminate import tariffs and make it an even bigger player in the market.
According to a recent report in The Wall Street Journal, the crossover is leading Cadillac's Chinese growth, despite its US-equivalent price of over $67,000 after the country's high import tariffs. The CUV's sales are up 23 percent there so far this year, and it's responsible for over 40 percent of the brand's sales. John Stadwick, General Motors' VP of sales, service and marketing in China, told the WSJ that GM could "very possibly" build the next-gen model there.
The SRX is Cadillac's golden goose in China, and it just keeps pushing the brand's sales forward. "It's the vehicle that took us out of being a small niche in the market," said David Caldwell, Cadillac Communications Manager, to Autoblog. Before the CUV, Caddy was selling a little over 20,000 cars a year there, but partially thanks to the crossover's success, the brand sold 50,000 vehicles last year and could reach 60,000 this year. "The SRX is the most popular Cadillac in that market," he said.

Super Cruise’s failsafes

Even though Super Cruise is not a fully autonomous system, it incorporates redundancies like those used in aircraft to ensure failsafe operation. Before taking off on a 700-mile, 11-hour test drive of the system — and putting my life in its hands without my hands on the wheel — I sat down with Daryl Wilson, lead development engineer for Super Cruise, to get a deep dive into the system and its critical safety backups. Autoblog: First, what makes Super Cruise different from similar systems? Wilson: The key differentiator for Super Cruise is hand-free driving. It's an industry first in that respect. Our competitors require the driver at minimum to place their hands on the wheel with some frequency to ensure that the car knows that the driver is there. We don't. Two key technologies allow us to do this. One is our Driver Attention System, which is our methodology for making sure the driver is engaged with the vehicle and engaged with the road. This is a driver assist system, not a fully autonomous system. So it requires driver engagement. We use an infrared camera that constantly monitors the driver's face to determine the direction they're looking. We're looking for the driver to be what we call on-road — not on the center stack, not to left or right or down. That's all done by the tracking of the face. We also track that the eyes are open. It's infrared because at night you need to illuminate the face and you can't be shining a light into the driver's face. Then we have our lidar mapping that provides a foundation for control and redundancy to ensure safe performance. Autoblog: How does the mapping act as a redundant feature? Wilson: This system is only for use on divided, controlled access highways. What I mean by a divided highway is something more than a painted line between you and oncoming traffic. Whether that's a grassy area in between the lanes or a concrete barrier, anything that separates you from oncoming traffic. That's the divided highway part. The controlled access part is entrance ramps and exit ramps. Not with roads that cross at grade, with traffic crossing at the same level. To do that we geofenced these roads to ensure that operation is only allowed in these conditions. We don't just recommend you use it there; we ensure that you only use it there.