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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.

2020 Cadillac CT4 revealed in non-V form

We got our first look at the 2020 Cadillac CT4 when its V variant made its debut a few months ago. Now the company is officially showing off the regular CT4 luxury sport sedans. They actually don't look all that different from the V, though - especially the CT4 Sport trim. The Luxury and Premium Luxury trims are distinguished by less aggressive ground effects and a grille studded with chrome pieces shaped like the Cadillac logo. The interior is similar, too, complete with an 8-inch touchscreen. Super Cruise will be made available on the CT4 later in 2020, including on the V model. Really, the big news is the powertrain as V6 engines have been dropped entirely from Cadillac's compact sedan. The base CT4 engine available in Sport or Luxury trim cars is a turbocharged 2.0-liter four-cylinder making 237 horsepower and 258 pound-feet of torque. Coupled to either rear- or all-wheel drive, it features cylinder deactivation and an eight-speed automatic transmission. Unlike in the old ATS, a manual transmission is not available. One notable mechanical difference between trims is the Sport trim gets standard Brembo brakes. Moving up from the 2.0-liter engine is the turbocharged 2.7-liter four-cylinder introduced on the CT4-V. Available on the Premium Luxury trims, its output is downgraded to 309 hp and 348 lb-ft of torque from the CT4-V's output of 325 hp and 380 lb-ft. It too has cylinder deactivation and can be had with either rear- or all-wheel drive. The only transmission offered is a 10-speed automatic. The V model also gets Brembo brake upgrades, and with rear-wheel drive includes Cadillac's magnetically controlled adaptive suspension. Cadillac will start taking orders for the CT4 later this year, but pricing has not been announced yet.

Junkyard Gem: 1993 Cadillac Allante

The General's Cadillac Division had lost much of its status as a world-class styling and engineering innovator by the 1980s, while younger rich Americans signed on the line which is dotted for European luxury machines packed full of futuristic technology. Something needed to be done to win back the hearts of those buyers, and that something was the Cadillac Allante two-seater. Here's a final-model-year Allante, complete with one of the very first Northstar V8 engines, found in a Denver yard. The overhead-valve Cadillac V8 engine of 1949 shook up the automotive world, and the double-overhead-cam Northstar V8 of 44 years later had a similar effect. Finally, a high-revving, smooth-running modern V8 to compete with those pesky European and Japanese carmakers! Only the Allante got the Northstar at first, with other Cadillac models following soon after. After the underwhelming power output of the pushrod HT4100 V8s used in the 1987-1992 Allantes, the upgrade from 200 horses to 290 helped boost sales of the '93 to the highest annual figure ever achieved by the model: 4,670 cars. Unfortunately for GM, production costs of the Allante proved to be murderous in the long run. Shortened Eldorado frames were loaded onto specially-fitted 747s in Detroit and flown to Pininfarina's new Allante factory in Italy. After Pininfarina built the bodies, they got loaded onto the 747s, flown back to Detroit, trucked to the Hamtramck assembly plant, and given running gear there. GM called this system the "Allante Air Bridge" and it cost plenty. The cars looked both futuristic and Italian, which they were, but the Allante's price tag stood at heights far above those of the rest of the Cadillac line: $59,975 in 1993, or about $108,500 in 2020 dollars. You could buy a rear-wheel-drive BMW 850Ci with a 282-horse V8 and manual transmission for a mere 10 grand over the Allante's cost that year, or a Jaguar XJS convertible for just $56,750. The Allante had front-wheel-drive and a not-so-modern four-speed automatic transmission, which hurt sales among the enthusiast types who flocked to Cadillac showrooms for the CTS-V a decade or so later. No European machine of 1993 could top the Mars Base appearance of these vertically-arranged, all-pushbutton HVAC/audio controls, though.