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GM recalls half-million full-size SUVs to address seatbelt issue

GM is recalling its redesigned full-size SUV models to address improperly riveted mounts securing the third-row seatbelts that may fail in the event of an accident. The population includes the 2021-2022 Cadillac Escalade and Escalade ESV, 2021-2022 Chevrolet Suburban and Tahoe, and 2021-2022 model year GMC Yukon and Yukon XL, for a total of 484,155 vehicles. "Operators at the supplier’s manufacturing plant may have not properly followed manufacturing processes and inadvertently missed the rivet forming operation," GM said in its defect report to NHTSA. "In certain of these vehicles, the rivet that retains the buckle to the mounting bracket in the left or right side third-row seatbelt buckle assembly may not have been properly formed during the manufacturing process. If the third-row seatbelt assembly is not properly riveted, it may not properly restrain occupants in a crash, increasing the risk of injury." Fortunately, the fix is relatively simple. GM service technicians will inspect the rivets on the rear seatbelt buckle assemblies and replace the entire unit if the rivets are not to spec. Dealer notifications have already been distributed; owners should receive notice start in September. Related video: Cadillac Chevrolet GM GMC Ownership Safety SUV

GM profit dips on truck changeover, but beats estimates

DETROIT — General Motors on Thursday reported a higher-than-expected quarterly profit despite a drop in production of high-margin pickup trucks, as it gears up for new models that are expected to boost profits next year. Like rivals Ford and Fiat Chrysler Automobiles, GM is banking on highly-profitable Chevy Silverado and GMC Sierra pickup trucks to lift profits, as consumers shift away from traditional passenger cars in favor of these larger, more comfortable trucks, SUVs and crossovers. During the first quarter, the process of changing over to GM's new pickups resulted in a drop in production of 47,000 units. GM Chief Financial Officer Chuck Stevens said the production drop had resulted in a drop in pre-tax profit of up to $800 million. Earlier this year, GM said its 2018 profits would be flat compared with 2017, but expected its all-new pickup trucks would boost margins starting in 2019. On Thursday, GM reiterated its full-year 2018 forecast for adjusted earnings in a range from $6.30 to $6.60 per share. The automaker said capital expenditures were more than $500 million higher in the quarter because of investments its new pickup trucks and a family of low-cost vehicles under development with Chinese partner SAIC Motor Corp. On Wednesday, rival Ford said it would stop investing in most traditional passenger sedans in North America. CFO Stevens told reporters on Thursday that GM has "already indicated that we will make significantly lower investments on a go-forward basis" in sedans. 2019 GMC Sierra View 21 Photos GM benefited from a lower effective tax rate in the quarter, but adjusted pre-tax margin fell to 7.2 percent from 9.5 percent a year earlier. Stevens said the company's profit margin should hit 10 percent or higher in the second quarter and for the full year. GM said material costs were $700 million higher in the first quarter, and it expects those costs to continue rising. The automaker said it would counter those increases with cost cutting measures. "It is a more difficult environment than it was three or four months ago," Stevens said when asked about rising commodity prices from potential steel and aluminum tariffs announced by the Trump administration. "But we are confident we can continue to offset that." The company reported quarterly net income of $1.05 billion or $1.43 per share, a drop of nearly 60 percent from $2.61 billion or $1.75 per share a year earlier. Analysts had on average expected earnings per share of $1.24.

Here's how the EcoCAR 3 teams are going to green up their Camaros

Plug-in hybrids were probably not what the Dead Milkmen had in mind when they wrote their 1985 alt-punk classic Bitchin' Camaro (OK, we're not really sure what they had in mind), but we're certainly fans of the effort. The 16 college teams competing in the third version of the EcoCAR green-vehicle contest have declared which powertrains they will attempt to build for maximum environmental friendliness. They'll be working with 2016 Chevrolet Camaros that General Motors is donating to the competition. The US Department of Energy is also helping to fund the competition. Out of the 16, all but one will go with a plug-in hybrid powertrain which switches over from electric power to an engine powered by E85 (i.e., an 85-percent ethanol blend) when the juice runs out. Those schools include the University of Alabama, Arizona State, Mississippi State, Ohio State and Penn State. The lone dissenter is the team from the University of Tennessee, which is going with a hybrid vehicle powered by E10. This past spring, Ohio State was named winner of Year One of EcoCAR3, winning $10,000 in the process. THE Ohio State University (as students and alumni like to call it) also won the overall competition for EcoCAR 2 last year. The vehicle used in that project was a 2013 Chevrolet Malibu, and OSU also used a plug-in hybrid/E85 combo to take the big prize. Take a look at the list of schools and their powertrains of choice for EcoCAR 3 here. Related Video: