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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.

GM recalls select Tahoes, Yukons, Escalades for rear driveshaft issue

GM is recalling a number of its full-size SUVs due to an issue with the rear driveshaft assembly that could ultimately result in driveshaft failure. The actual number of total vehicles involved in the recall is small at just 1,789, but it’s spread out across the entire 2021 model year full-size GM vehicle lineup. That means a small number of every model is being recalled, including the Chevrolet Tahoe, Suburban, GMC Yukon, Yukon XL and the Cadillac Escalade and Escalade ESV. GM traced the issue back to certain driveshaft assemblies with ball bearings that were not properly heat treated. If theyÂ’re not properly heat treated, GM says that the balls may deform over time, causing noise and vibration. Continue to drive in this condition, and GM says the affected joint in the driveshaft assembly could seize, causing loss of drive power. However, the problem wonÂ’t present itself all at once, as GM says there will be a gradual increase of noises and vibrations before total failure. For those few owners with affected vehicles, GM says that it will replace the left and right rear driveshaft assemblies with properly-built units. Per usual with recalls, this will be done at your local dealership at no cost to the owner. If you have one of the recalled SUVs, expect to be notified mid-March. Related video:

2020 Cadillac CT5-V First Drive | The lowercase v series

PALM SPRINGS, Calif. — This isnÂ’t the Cadillac CT5-V we were expecting. After years of successively higher horsepower and world-beating performance statistics, Cadillac flipped the script with the CTS-replacing CT5 by making the reborn carÂ’s first V-badged sedan a middle performance tier that will slot below a new model that hasnÂ’t yet been released. The outgoing CTS-V pounded the pavement with 640 horsepower; the CT5-V weÂ’re discussing here offers up a seemingly paltry 360 ponies. The CT5Â’s styling aligns with recent models like the XT4, XT5, XT6 and CT6, but is another major departure from the CTS it replaces. The automakerÂ’s abandoned Art and Science design philosophy culminated in a CTS that looked modern and distinctive. Crisp lines, clean edges and sharp features have given way to the CT5Â’s more flowing sense of style, and with the exception of its gracefully curved pseudo-fastback greenhouse that results in an unfortunately awkward C-pillar transition, itÂ’s right on the border of blending in instead of standing out. As you would expect, the CT5-V has a more aggressive look than other CT5 models. Bits that are bright on the standard car are blacked out on the V, and the sportier car has a more chiseled front face with a mesh grille that flows more air than if it were just wide open. Similar changes are seen in the cabin, where the V replaces wood trim with carbon fiber. WeÂ’d prefer some other trim options in the V, like maybe brushed aluminum, since the monochromatic dark leather with dark trim leads to — you guessed it — a starkly dark interior. Cadillac has a brand-new infotainment system that will be launching soon in the upcoming Escalade SUV, but the CT5 sticks with the brandÂ’s oft-maligned CUE. As much as customers and journalists like us have complained about CUE, the latest (and likely last) version found in the CT5 works pretty well. All the necessary functions are easy to find, and the touchscreen is quick and responsive. And if you really donÂ’t like the interface, there are physical buttons for the climate control and a pair of dials for audio. An available rear camera mirror offers a wider field of view, or can be used as a regular mirror. Forward collision alert, automatic braking and pedestrian detection are standard. A 360-degree camera system, adaptive cruise control, automatic parking assist and rear auto braking are available.