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Trucks and tidbits from GM's earnings report

General Motors announced this morning that 2018 was a good year for it financially, thanks in large part to the company's performance in North America, which was predicated, according to the company, on "strong pricing, surging crossover sales, successful execution of the company's full-size truck launch, growth of GM Financial earnings, and disciplined cost control." GM reported full-year income of $8.1 billion and EBIT-adjusted income of $11.8 billion. Crossover sales in 2018 were 1,034,808, an increase of 7 percent compared to 2017 deliveries. Throw in the body-on-frame SUVs and the ute number is a total 1,295,700. But let's face it: It is the trucks that really matter. The Chevy Silverado and Colorado, the GMC Sierra and Canyon. Altogether, GM sold 973,463 pickups in the U.S. in 2018. Although Ford gets bragging rights for F-Series sales, GM gets to point out that it has a greater aggregate number. An important factor regarding the trucks and the reported income is that during the last quarter, more than 90 percent of the new 2019 trucks were crew cabs (which have a higher sticker), and at GMC more than 70 percent were Denali and AT4 models (which have even higher stickers). According to reporting by Bloomberg, GM's pickup trucks combine for $65 billion in annual revenue. Clearly when the 2018 sales of the Silverado — 585,581— dwarf the combined sales of both Buick (206,863) and Cadillac combined (154,702), pickups are what matter to the overall health of the company in a way that it is difficult to otherwise achieve. The "disciplined cost control" is something that is very much in the public eye right now, as the company is taking out thousands of its workers, and there is still the "unallocated" plant situation and other plants that will remain under capacity. The numbers in GM's earnings report probably made Unifor members' heads explode in consternation, coming fresh off their Super Bowl ad: " GM, you may have forgotten our generosity, but we'll never forget your greed." But there are a couple of curiosities in the full GM earnings release. One is that so far as its autonomous efforts go, it mentions only that (1) in the first quarter of 2018 Cruise introduced a production-ready autonomous vehicle, and (2) Cruise attracted $5 billion in external capital from SoftBank and Honda. Not a whole lot of love for autonomy. Good thing they have the trucks to fund the program, to say nothing of the external capital.

GM moving international sales HQ to Singapore from Shanghai

General Motors has announced that it will be moving its international headquarters from Shanghai to Singapore, a move that will see 120 employees working from the city-state by the time business opens in 2014. Meanwhile, 250 to 300 of the employees at the Shanghai office will remain in China, according to a report from The Wall Street Journal.
The shuffle is part of a bigger reorganization that will see GM isolate its operations in the People's Republic from its broader international efforts. This sort of divide-and-conquer strategy will allow GM to still react to emerging markets while, according to the WSJ, providing a dedicated management team for the Chinese market. The team in Singapore will be responsible for operations in Africa, southeast Asia, Australia, India, South Korea and the Middle East, on top of managing Chevrolet and Cadillac in Europe, according to a statement from GM.
The shift to Singapore "will help us to create a renewed identity for CIO (Consolidated International Operations) and lead GM's umbrella strategy for the region," said GM Executive Vice President of CIO, Stefan Jacoby.

2021 Cadillac Escalade ESV spied uncovered

The 2021 Cadillac Escalade made its big debut a little over a week ago, complete with its fancy interior and displays, but the company has only shown the short-wheelbase model. One of our spy photographers has picked up the slack and caught the long-wheelbase ESV model cruising around southeast Michigan without any camouflage. It's pretty much what you would expect: an Escalade but longer. But it does have a couple subtle differences. Those differences lie in the sides of the Escalade ESV where the length makes some changes. The wheelbase is indeed longer, not just the body, as evidenced by the rear wheels sitting farther back from the edges of the rear doors. Those doors are also a bit longer, so rear seat access should be a little better with this lengthened Escalade. Another change is in the stylized C-pillar. It's a bit more difficult to see since this is a Sport trim with black trim, but the C-pillar is substantially thicker, and the rear edge leans forward more than on the shorter version. This reworked trim probably helps hide the ESV's extra length somewhat. The extra thickness might hinder some rear and side visibility, too. The Escalade ESV will make its formal debut at the upcoming New York Auto Show, and we expect it will go on sale at the end of this year at about the same time as the short-wheelbase version. The extra length will probably also bring a little extra cost to the base price. Pricing for the 2021 Escalade has not yet been announced, though. It will probably be revealed closer to the luxury SUV's on-sale date. Related Video: