1985 Chevrolet K-10 4-inch Lift 35"toyo Mud Terrain on 2040-cars

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GM sees 'strong year' in 2018, then gold in Chevy Silverado for 2019

DETROIT — General Motors said on Tuesday it expects earnings in 2018 to be largely flat compared with 2017, but that profits should pick up pace in 2019 as its revamped line of high-margin pickup trucks hits the U.S. market. The 2018 earnings outlook was above market expectations, sending GM shares up more than 3 percent in premarket trading. "GM had a very good 2017 as we continued to transform our company to be more focused, resilient and profitable," GM Chief Executive Mary Barra said in a statement. "We are positioned for another strong year in 2018 and an even better one in 2019." GM and its Detroit rivals, Ford and Fiat Chrysler Automobiles, are bringing on new trucks at a time when overall U.S. new vehicle sales have been falling, but truck sales continue to grow as consumers abandon passenger cars in favor of pickups, SUVs and crossovers. GM on Saturday fired a new round in the battle for profits from one of the U.S. auto industry's most lucrative segments when it showed a new generation of its Chevrolet Silverado pickup truck at the Detroit auto show. The new Silverado, a highlight of the event, is the successor to GM's best-selling vehicle in North America. Sales of the current Silverado rose nearly 2 percent to 585,000 vehicles in 2017. In the coming months, the company will also reveal a revamped GMC Sierra pickup truck. U.S. new vehicle sales fell 2 percent in 2017 after hitting a record high in 2016, and are expected to drop further in 2018 as interest rates rise and more late-model used cars return to dealer lots to compete with new ones. GM said on Tuesday that while it retools a factory in Ft. Wayne, Indiana, to make the new pickup trucks, it will shift some production to an Oshawa, Ontario, plant in order to avoid missing sales in a hot market for the vehicles. The No. 1 U.S. automaker said it will record a $7 billion non-cash charge for its fourth-quarter 2017 earnings related to deferred tax assets. GM said it expects capital expenditure in 2018 of around $8.5 billion, about $1 billion of which will go toward funding self-driving car technology. Last week, the company said it is seeking U.S. government approval for a fully autonomous car — one without a steering wheel, brake pedal or accelerator pedal — to enter the automaker's first commercial ride-sharing fleet in 2019. GM said it expects 2017 earnings per share at the high end of its previously forecast range of $6 to $6.50.

How two-state Chevy Spark EV outsold 50-state Volt last month

Is it really just about price? Last month, the Chevy Spark EV got a sizable price drop of $1,500 alongside a lowered lease price of $139 a month (down from $199). Those numbers, particularly that cheap lease, had a tremendous impact on how many all-electric Sparks GM sold last month. There were 920 Spark EVs sold in April, and the Spark EV is available in only two states: California and Oregon. Sales will start in Maryland in the third quarter of 2015, but there are no pre-orders taking place there, so all 920 were West Coast sales. To be more precise, there were about 864 Spark EV leases signed last month, since 94 percent of those 920 sales were retail leases. As Annalisa Bluhm from Chevrolet communications told AutoblogGreen, that level was, "simply insane." "In those states which offer Spark EV, you can get a 1LT Spark EV for less than a 1LT Spark, with more features" Bluhm said. "Factor in that you will save approximately $82 per month by abstaining from gas, and it's easy to see why people went crazy for the Spark." Let's put 920 into perspective. For one thing, it's crazy up from the 151 Spark EVs sold in March 2015 and the 97 sold in April 2014. It's also almost as many as GM sold all last year, and way more than two years ago. The General sold 653 Spark EVs in 2013 and 1,146 in 2014. To throw in a comparison with GM's longstanding plug-in champion, the aging Volt, the Spark EV came out ahead in the monthly tally for the first time ever. In April, the Volt sold 905 units. The plug-in hybrid's best-ever sales month was August 2013, when it sold 3,351 units. Counting all models and powertrains, Chevy sold 3,743 Sparks in April. So, does this success mean that Chevy is looking to bring the Spark EV to more markets? Bluhm said that GM is considering other states and is always looking at the business case, but has "nothing to announce yet." Related Video: The video meant to be presented here is no longer available. Sorry for the inconvenience.

One of the world's largest muscle car museums is auctioning off its cars

Rick Treworgy's Muscle Car City is one of the biggest collections of high-performance American cars in the world. With over 200 cars of mostly GM makes, it's a mecca for fans of the golden age of Detroit iron. Unfortunately, the museum will be shutting its doors for good on Jan. 17 and auctioning off most of its assets with no reserve. The collection is, to put it bluntly, astounding. Advertised as a combined 65,000-plus horsepower, it occupies a 60,000-square-foot retail space in Punta Gorda, Fla., in a former Walmart store. It make sense when you learn that founder Rick Treworgy made his fortune in the commercial real estate business. As a hobby, he began to amass a truly jaw-dropping collection of muscle cars, filling out a collection that often has every year of a particular model represented, or a grouping of the rarest and highest-performance option packages of that year or model. Often, Treworgy bought placeholders while scouring the country for even rarer versions. It helps that Muscle Car City also houses a showroom where unwanted cars are sold, as well as its own speed shop that stocks plenty of parts. There's even a '50s-style diner called Stingray's Bar and Grill. According to a 2014 episode of Car Crazy, Treworgy has 80 Corvettes alone, more than the actual Corvette Museum. Among them are 20 models from 1967, one of Treworgy's favorites. The rest span the decades from 1954 (he once had a '53 but sold it) to a recently acquired 2020 C8, which, according to The Drive, has only 300 miles on the odometer. You like Impalas? There are models of every year from 1958 to 1969. El Caminos? He's got 'em from 1964 to 1972. Novas? Every year from 1963 to 1970 is represented. Most are the more desirable examples of each breed, with four-speed transmissions, the biggest blocks, and unicorn option packages like a factory 1965 Z16 SS396 Chevelle, one of 200 that were ordered off-menu at Chevy dealerships. And don't even get us started on the Camaros, which include not one, but two COPO 1969s. Treworgy even owns the only known surviving example of a 1936 Chevrolet Phaeton, of which only seven were built. On top of it all, many of these cars are concours quality and have won awards at prestigious car shows. While it's sad to see a collection like this broken up, Treworgy told The Drive that he'd been planning to retire next year anyway. However, the COVID-19 pandemic sped up those plans, greatly reducing the number of visitors to his museum.