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GM delivers best Q3 sales since 1980, 2.4M vehicles sold

People are a weird sort. Even after registering over 70 recalls through the first three-quarters of 2014, General Motors saw its best Q3 results since Jimmy Carter was in the White House, registering over 2.4 million global sales between June and September on the back of strong results in the US and China.
US sales were marshaled by good results for GM's pickups, the Chevrolet Silverado and GMC Sierra, which bumped the manufacturer's truck market share to 35.6 percent, up nearly three points from Q1 2014. Buick has seen healthy growth as well, with the Encore dominating its segment for the sixth month running.
It was China, though, that really bolstered GM's sales, as the company's efforts to top last year's record-setting 3.16 million units continued apace. Small SUV sales saw massive growth, with Encore, Chevrolet Trax and Captiva figures jumping 90 percent in Q3. Brand-wise, Chevrolet, Cadillac and Buick all saw sales gains in the PRC, with each recording double-digit year-over-year jumps. Cadillac sales alone were up 63 percent compared to the first nine months of 2013.

U.S. new-vehicle sales in 2018 rise slightly to 17.27 million [UPDATE]

DETROIT — Sales of new vehicles in the U.S. rose slightly in 2018, defying predictions and highlighting a strong economy. Automakers reported an increase of 0.3 percent over a year ago to 17.27 million vehicles. The increase came despite rising interest rates, a volatile stock market, and rising car and truck prices that pushed some buyers out of the new-vehicle market. Industry analysts and automakers said strong economic fundamentals pushed up sales and should keep them near historic highs in 2019. "Economic conditions in the U.S. are favorable and should continue to be supportive of vehicle sales at or around their current run rate," Ford Chief Economist Emily Kolinski Morris said after the company and other automakers announced their sales numbers Thursday. That auto sales remain near the 2016 record of 17.55 million is a testimonial to the strength of the economy, said Mark Zandi, chief economist at Moody's Analytics. The job market, he said, has created new employment, and wage growth has accelerated. "That's fundamental to selling anything," he said. "If there are lots of jobs and people are getting bigger paychecks, they will buy more." The unemployment rate is 3.7 percent, a 49-year low. The economy is thought to have grown close to 3 percent last year, its best performance in more than a decade. Consumers, the main driver of the economy, are spending freely. The Federal Reserve raised its key interest rate four times in 2018 but is only expected to raise it twice this year. Auto sales also were helped by low gasoline prices and rising home values, Zandi said. It all means that people are likely to keep buying new vehicles this year even as they grow more expensive. The Edmunds.com auto-pricing site estimates that the average new vehicle price hit a record $35,957 in December, about 2 percent higher than the previous year. It will be harder for automakers to keep the sales pace above 17 million because they have been enticing buyers for several years now with low-interest financing and other incentives, Zandi said. He predicts more deals in the coming year as job growth slows and credit tightens for higher-risk buyers. Edmunds, which provides content, including automotive tips and reviews, for distribution by The Associated Press, predicts that sales will drop this year to 16.9 million.

[UPDATE] Cadillac Blackwing gets ticket to Italy, to go to work in a supercar

UPDATE: It seems MAT's belief it had secured a supply of Cadillac's 4.2-liter Blackwing V8 was premature, and based on a handshake deal before GM sold its Turin engine center to Italy's Punch Group. Shortly after Hagerty ran the story, GM sent a statement to the outlet reading, in part, "We do not have an agreement in place with Manifattura Automobili Torino (MAT) to provide or sell the Blackwing engine. ... Our team is following up with MAT president Paolo Garella to discuss the misunderstanding." MAT also submitted a statement to Hagerty, saying, in part, "We thank GM for the clarification. Although a signed agreement was not finalized between the parties, we were under the impression that our counterpart was committing to making this engine available to MAT at conditions yet to be defined. ... We hope that this misunderstanding will not compromise our relations with GM and possible future collaborations." The original article follows: Some necessary cost-cutting at Cadillac led to switching the new CT4, CT5, and Escalade to older platforms. The revised architecture plan meant Cadillac's newest top-tier products couldn't fit Cadillac's newest top-tier engine, the 4.2-liter twin-turbo DOHC V8 known as Blackwing. That engine would serve limited duty at full power in the now-dead CT6-V, and at reduced output in the CT6 Platinum V8 trim before ending its bright, brief domestic life. But the story isn't over, the rebirth of Blackwing coming from a most surprising locale: Turin, Italy. Before the canceled Geneva Motor Show, Hagerty spoke to Paolo Garella, CEO of Manifattura Automobili Torino; that's the company better known as MAT, makers of the New Stratos and contract engineering house for boutique screamers like the Aspark Owl electric hypercar, Apollo Intensa Emozione, and SCG003C. Garella told the outlet, "We have an agreement with General Motors" for a supply of Blackwings, which would be developed and built at the General Motors Propulsion Engineering Center (PEC) in Turin. Since 2005, the PEC has been used to develop GM's global diesel engines and electronics. MAT's plan is to put the V8 into a new limited-run car MAT is creating from its own design. Then another surprising turn: Belgium-based global auto supplier Punch Group bought the PEC, with plans to work with GM on projects in progress until at least the end of 2021. Nothing changes as far as MAT is concerned, except perhaps a chance for an even closer collaboration with Punch Turin.