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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.

2023 Cadillac Lyriq production model revealed with range, power, price

We got our first look at the Cadillac Lyriq's design last August, and now the company is revealing the official production version of the electric crossover. The good news is that it looks almost identical to the preproduction version no matter where you look, inside or outside the car. It has the same long hood, low roof, creased body work, illuminated grille and groovy taillights. The interior retains the 33-inch instrument and infotainment screen and wood and metal trim. Only detail changes to things like the camera in the grille and the reworked control knob in the center console distinguish it from the concept. So if it basically looks the same, what's new here? Well, we finally have specifics on all the stuff that powers the concept-car body. At launch, the Lyriq will only be offered with a single motor and rear-wheel drive. The motor makes 340 horsepower and 325 pound-feet of torque funneled through a single-speed transmission. Supplying the motor with juice is a 100-kWh battery, though Cadillac didn't specify if that's the usable capacity or gross capacity. Cadillac estimates that the battery will provide more than 300 miles of range on a single charge. The initial models will be equipped with on-board charging equipment that can handle 19.2-kW Level 2 charging and 190-kW DC fast charging. The former can add 52 miles of range in an hour, and the latter can add 76 miles of range in 10 minutes and 195 miles in half an hour. Cadillac has made no mention of an 800-volt extra-fast DC charging system like in the GMC Hummer EV. There's a chance a system like that could be offered later, just like the forthcoming all-wheel-drive Lyriq variant. The Lyriq rides on multi-link independent suspension at all four corners, using "passive-plus" shocks, so it won't be adaptive or use GM's fancy magnetic suspension, at least at launch. Braking is provided by large 17-inch rotors at the front and 18-inch units at the back, welcome additions for the 5,610-pound crossover. Cadillac also gave us some basics on what equipment will be offered with the first run of Lyriqs. Only two colors, a silver and a black, will be available to begin with, and another silver will come a tad later. We imagine more colors will be offered on later Lyriq models. The interior comes in gray or black. Twenty-inch wheels are standard with 22-inch examples available as an option.

2021 Cadillac XT6 adds 2.0-liter turbo and new base trim in second year

The 2021 Cadillac XT6 has been announced, and the three-row crossover is going through a few notable changes in its second model year. There’s a new base trim and base engine, and Cadillac has added tech features to improve the experience. Starting with the new engine: ItÂ’s the 2.0-liter turbocharged four-cylinder that was initially introduced in the XT4 as the base motor. Power output is the same as the compact crossover at 237 horsepower and 258 pound-feet of torque. ItÂ’s paired with the nine-speed automatic transmission and comes with front-wheel drive as standard — all-wheel drive is a $2,000 option. That engine only comes with the new base trim level: Luxury. Every other trim receives the 3.6-liter V6. The new Luxury trim (pictured above) is being added to the lineup as a base model to compliment the Sport and Premium Luxury trims. This will be the cheapest and most basic of the XT6s, but you can still option all-wheel drive. Features include 18-inch wheels, the eight-inch touchscreen infotainment system, black leatherette seats (heated and powered in front), brushed aluminum trim, tri-zone climate control and a number of other smaller extras along with a suite of driver assistance technologies. Cadillac is also adding wireless Apple CarPlay and wireless Android Auto to the lineup as standard equipment — they were standard previously but required the traditional wired connection. ThereÂ’s also a new 20-inch wheel for the Sport model, and three new color options: Dark Moon Blue Metallic, Wilder and Infrared Tintcoat. The XT6 LuxuryÂ’s base price is $48,990, including the destination charge. ThatÂ’s a fair cut below the 2021 Premium Luxury ($53,790) and the Sport ($58,190) trims, but you are losing out on the additional equipment and luxury those trims offer. Cadillac says the updated 2021 XT6 will land in dealerships this fall. Related video: