1981 Chevrolet El Camino on 2040-cars

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GM posts $4 billion third-quarter profit thanks to trucks and SUVs

DETROIT — General Motors is posting huge third quarter numbers, pulling in $4 billion in profit over three months after losing money due to the virus outbreak. GM's adjusted earnings were $2.83 per share, easily outpacing Wall Street's per-share projections of $1.43, according to a survey by FactSet. Revenue of $35.5 billion also edged out most expectations. Shares jumped almost 6% before the opening bell Thursday. The company swung back from a $806 million loss in the second quarter, when it was restarting factories shuttered for safety during the early stages of the pandemic. The Detroit automaker joined most global automakers in reporting better-than-expected earnings from July through September as sales across the globe started to rebound from coronavirus lockdowns, especially in China. GM sales in China jumped 12% in the third quarter, with sales of its Buick and Cadillac brands both rising more than 25%. In the U.S., GMÂ’s most profitable market, sales fell 9.9% in the third quarter compared with a year ago, but were a dramatic improvement over the 34% drop in the second quarter. Sales improved sequentially each month, the automaker said, an encouraging trend. GMÂ’s profit was boosted by higher-priced pickup trucks and large SUVs, which have seen strong sales in the U.S. through the pandemic. It was the best quarter on record for GM's Chevrolet Blazer. Sales of the Cadillac XT6 spiked 45% in the U.S. over last year. Large pickups also sold well. GM also said it was pumping $2 billion into its Spring Hill, Tennessee manufacturing plant to push its transition to produce electric vehicles. Last week, crosstown rivals Fiat Chrysler and Ford reported strong third-quarter net income. FCA said it made $1.4 billion for the period, while Ford earned $2.39 billion. Related Video: Earnings/Financials Buick Cadillac Chevrolet GM GMC

General Motors shaking up its marketing... again

One of the things that dogs the full comeback of General Motors is the instability of its marketing. That part of the automaker got yet another big shakeup today when GM confirmed what I have been tweeting for a few days - strong rumors that the Chevrolet and Cadillac ad accounts are walking to new ad agencies.
Cadillac, GM's luxury brand, is going into review from Fallon Worldwide, Minneapolis and the indications are that Campbell-Ewald, Chevy's old ad shop, will end up with most or all of it. C-E just announced that it was moving from its long-time home in Warren, MI to a new downtown Detroit office next to Ford Field, just blocks from GM.
The other shoe to drop shortly will be the shift of GM's most important brand, Chevy, from Goodby, Silverstein & Partners of San Francisco to McCann-Erickson of Troy, MI. McCann used to be the agency for Buick and GMC, as well as GM's corporate advertising, and has retained some pieces of business over the last few years. Sources have even told us that it was McCann that did a lot of the creative work on Chevy's new ad platform, Find New Roads. (Not to be confused with a former McCann tagline for Saab, "Find Your Own Road.")

2016 Chevy COPO Camaro wears drag to SEMA [w/video]

Attendees to this year's SEMA Show get to be the first to check out Chevrolet's latest COPO Camaro that's now based on the new, sixth-generation model. As before, they packs a bevy of racing modifications to rocket down drag strips across the country. All of the interested customers might not get one of these hand-built machines, though, because Chevy is sticking with the tradition of only building 69 of them for 2016. Devised to compete NHRA Stock and Super Stock Eliminator classes, the latest COPO Camaro features the lighter, more rigid platform of the sixth-gen model. Buyers can choose from an array of V8s for power, including a supercharged 350-cubic-inch engine, a naturally aspirated 427, or an LT-based 376. All of them come with a race-prepped Turbo 400 three-speed automatic, solid rear axle, and adjustable suspension. The COPO on display for SEMA wears custom styling from drag racer Courtney Force that combines a Red Hot and black color scheme with her name slashing across rear fender. This one also packs a concept 350-cubic-inch V8 with a 2.9-liter Whipple supercharger. If you're interested in owning it, the car will cross the auction block at a Barrett-Jackson sale in 2016, and the proceeds will go to the United Way. Related Video: CHEVROLET INTRODUCES GEN SIX COPO CAMARO Courtney Force-designed show car to be auctioned for United Way LAS VEGAS – With assistance from NHRA Camaro Funny Car driver Courtney Force, Chevrolet introduced the Gen Six COPO Camaro today at the SEMA Show. After visiting the COPO build center, Force collaborated with Chevrolet designers to create a custom appearance for the 2016 COPO Camaro SEMA show car. It will be auctioned at a Barrett-Jackson sale in 2016, with the proceeds going to United Way. Chevrolet will build 69 COPO Camaro race cars for 2016, extending the production legacy that began in 2012 with the fifth-generation Camaro. Like the previous editions, the new COPO Camaro is designed for NHRA's Stock and Super Stock Eliminator classes. "With the new Gen Six Camaro as its foundation, the 2016 COPO Camaro begins the next chapter of an historic racing legacy," said Jim Campbell, Chevrolet U.S. vice president of Performance Vehicles and Motorsports. "It's great to have Courtney Force on Team Chevy and to work with her on the design of the new COPO Camaro show car.