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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.

Cadillac CT6 production ceases January 2020 as part of D-Ham layoffs

General Motors filed paperwork under the Worker Adjustment and Retraining Notification Act with Michigan's Department of Labor and Economic Opportunity this week, detailing events to come at the automaker's Detroit-Hamtramck Assembly Plant. Starting February 28, 814 salaried and hourly workers at D-Ham, as its called, will be laid off. The 753 workers represented by the UAW will begin receiving offers in January to relocate to facilities in Michigan and Ohio, or buyout offers. As the 4-million-square-foot plant winds down through April 3 to a skeleton crew, the Cadillac CT6 ceases production in January 2020, and the last Chevrolet Impala comes off the line on February 28. The loss of the CT6 represents the end of Cadillac's latest brief, and highly regarded, adventure into flagship sedans. It might also mean the end of the 4.2-liter Blackwing twin-turbo V8 engine, at least for the moment. Both casualties are calamities. The death of the Impala closes the door on a nameplate in production for 52 years since 1957, having started off as a top-tier trim for the 1958 Bel Air known as the Bel Air Impala, once advertised with the line, "Lets you know you're the boss." As part of the new four-year labor agreement with the UAW, GM is keeping D-Ham open to build a new line of battery-electric vehicles, ultimately investing $3 billion and tripling employment to 2,225 workers when fully operational. The agreement described the coming EV as a "van" that would commence production in late 2021, but various reports say what's actually coming is a range of premium EVs in pickup and SUV bodystyles under the program codename BT1. The easy predictions put an electric GMC Sierra and Cadillac Escalade among the EV fold, but not until 2023, according to auto industry forecaster LMC Automotive. Before that, LMC claims an electric van will debut in late 2021, along with a battery-powered rebirth of the Hummer brand in pickup and SUV forms, also in late 2021. 

2018 Cadillac CT6 Drivers' Notes | Super Cruiser

The 2018 Cadillac CT6 showcases General Motors' impressive Super Cruise feature. It's the next milestone on the way to an autonomous future, though GM is being conservative about promoting Super Cruise's considerable prowess. It helps the driver, GM says. Does it work? Our editors have been testing one this week as the calendar turns and the temperatures drop in Michigan. Also, the CT6 is a really nice car. Here's what we think. Senior Editor, Green, John Beltz Snyder: Super Cruise, man. On Wednesday night, I rode home in a 2018 Cadillac CT6 with Super Cruise. I say "rode," but I was sitting in the driver's seat. I spent more time with my hands off the steering wheel than on it. It was super relaxing. Once I got on the highway, I set the cruise control, waited for the steering wheel icon to show up on the instrument cluster, and hit the button on the steering wheel that looked like a steering wheel (pretty meta, to be honest). The top section of the wheel illuminated in a green arc, and I felt the weight of the steering lift as the car began driving itself. I put my feet flat on the floor, rested my hands on my knees, and just watched the road while listening to a podcast ("The Dollop," if you were wondering). To be honest, I had trouble concentrating on the audio, as my thoughts were captivated by the way the car managed the road and traffic around me. Sure, I had to change lanes on my own and take over steering on interchanges and surface streets, but when the AI took the reins, it had my complete confidence. Perhaps just as surprising, the CT6 was also a blast to drive manually. It felt super smooth, with plenty of power and poise. I enjoyed bending it through 50-mph curves almost as much as I enjoyed being driven. Almost. Editor-in-Chief Greg Migliore: Super Cruise just works. I was blown away how easy it was to use and how well it just did what it was supposed to do. Merging into the teeth of rush hour traffic in metro Detroit, I braced for the worst. I figured I'd be stuck in bumper-to-bumper gridlock and Super Cruise would never get deployed. Frankly, I was cynical Super Cruise would work. But then I was able to hit the 70-mph speed limit and figured, well, let's just see about this thing. Like John, I did the two-steps to set up SC, and boom, it worked. It trailed the cars in front of me at a proper distance. It braked naturally to a stop and then resumed speed. It slowed down when a Jeep Grand Cherokee cut me off.