1987 Chevy Silverado on 2040-cars

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GM earnings rise 1% as buyers pay more for popular pickups

DETROIT — General Motors said Thursday that higher prices for popular pickup trucks and SUVs helped overcome slowing global sales and profit rose by 1% in the second quarter. The Detroit automaker said it made $2.42 billion, or $1.66 per share, from April through June. Adjusting for restructuring costs, GM made $1.64 per share, blowing by analyst estimates of $1.44. Quarterly revenue fell 2% to $36.06 billion, but still beat estimates. Analysts polled by FactSet expected $35.97 billion. Global sales fell 6% to 1.94 million vehicles led by declines in North America and Asia Pacific, Middle East and Africa. The company says sales in China were weak, and it expects that to continue through the year. In the United States, customers paid an average of $41,461 for a GM vehicle during the quarter, an increase of 2.2%, as buyers went for loaded-out pickups and SUVs, according to the Edmunds.com auto pricing site. The U.S. is GM's most profitable market. Chief Financial Officer Dhivya Suryadevara said she expects the strong pricing to continue, especially as GM rolls out a diesel pickup and new heavy-duty trucks in the second half of the year. "We think the fundamentals do remain strong, especially in the truck market," she said, adding that strength in the overall economy and aging trucks now on the road should help keep the trend going. Light trucks accounted for 83.1% of GM's sales in the quarter, and pickup truck sales rose 8.5% as GM transitioned to new models of the Chevrolet Silverado and GMC Sierra, according to Edmunds, which provides content to The Associated Press. As usual, GM made most of its money in North America, reporting $3 billion in pretax earnings. International operations including China broke even, while the company spent $300 million on its GM Cruise automated vehicle unit. Its financial arm made $500 million in pretax income. Suryadevara said GM saw $700 million in savings during the quarter from restructuring actions announced late last year that included cutting about 8,000 white-collar workers through layoffs, buyouts and early retirements. The company also announced plans to close five North American factories, shedding another 6,000 jobs. About 3,000 factory workers in the U.S. whose jobs were eliminated at four plants will be placed at other factories, but they could have to relocate. GM expects the restructuring to generate $2 billion to $2.5 billion in annual cost savings by the end of this year.

2016 Chevy Volt powertrain technical details

The last time General Motors launched a Chevy Volt, it was operating without really knowing how people would use the plug-in hybrid. Sure, it had experience with the EV1, but the Volt was a new kind of car, and you can see in the archives just how much time GM spent explaining this fresh, new powertrain to potential customers. Then, once the vehicle was released, the company collected voluntary data from a large number of owners to learn about their driving and charging habits. The company also asked them what they wanted most in the new version. There's got to be an algorithm buried somewhere in GM headquarters that was used to take all of the numbers GM collected and spat out the headline figures for the 2016 Volt: 50 miles of EV range and 41 miles per gallon. Another important number – price – is something GM isn't talking about yet (expect it in April or May), but the company is sharing some powertrain details about the upcoming car. At a preview lunch in Detroit last week for the SAE 2015 Hybrid & Electric Vehicles Technologies Symposium that's happening now in California, GM engineers Peter Savagian (who is presenting a paper on the new inverter used in the updated Volt) and Tim Grewe (talking about the entire second-generation powertrain) sat down with AutoblogGreen to tell us about the Volt's all-new propulsion system: The overall gist is that the new Voltec 5ET50 drive unit is lighter, smaller and more powerful thanks to a redesigned two-motor traction drive. As previously reported, the new engine is a 1.5-liter DOHC four-cylinder that offers 101-horsepower (at 5,600 RPM). Grewe said it's "great for range extension." The electric motor side of the powertrain offers 149 motoring horsepower from a two-motor, continuously variable transaxle. Initially, the new engine will be made in Mexico. GM will move production to Flint, MI during the first year it makes the 2016 Volt. The battery is slightly bigger in the new Volt – 18.4 kWh compared to 16.5 in the current-gen – and will have less range variation in the cold. GM is also using more of the overall capacity in the pack in the 2016 Volt than in previous versions, but is not saying how much more. GM is not ready to publish acceleration times just yet, but the 2016 Volt has improved numbers, especially when going from 30-60 miles per hour. Most everything on the new powertrain has become more efficient compared to the first-gen Volt.

Junkyard Gem: 1985 Chevrolet Sprint

For in the 1985 model year, General Motors began selling Chevrolet-badged Suzuki Cultus hatchbacks in California. Sales of the cheap three-cylinder econobox in the rest of North America followed soon after (with the Canadian version known as the Pontiac Firefly), and did pretty well considering the crash in gasoline prices during the middle 1980s. Starting in 1988, the facelifted Sprint became the Geo (and, later on, Chevrolet) Metro. Here's one of the very first Cultuses sold on our shores, found in a San Francisco Bay Area car graveyard. Amazingly, the primitive rear-wheel-drive Chevrolet Chevette remained available all the way through 1987, competing with the thriftier front-wheel-drive Sprint in the same showrooms. For 1988, Pontiac started selling a rebadged Daewoo LeMans, so the Sprint/Metro never lacked for intra-corporate competition. Inside, you'll find the same stuff most mid-1980s Japanese econoboxes got: tough cloth upholstery and long-wearing hard plastics. Suzuki quality in 1985 wasn't quite up to Honda or Toyota levels, but you weren't paying Honda or Toyota prices for the Sprint. MSRP on this car started at $4,949, or about $12,000 in 2020 dollars. The cheapest possible 1985 Chevette cost $5,340, while a new no-frills Ford Escort would set you back $5,620. Subaru, however, could have put you in a punitively unappointed base-model Leone hatchback for just 40 bucks more than the Sprint that year. I think I'd have sprung the extra for a $5,348 Toyota Tercel, a $5,195 Mazda GLC, or— best cheap-commuter deal of all that year— the $5,399 Honda Civic 1300 hatchback. I was 19 years old and driving a Competition Orange 1968 Mercury Cyclone that year, and I recall feeling pity for Chevy Sprint drivers, new-car smell or not. Still, these weren't bad cars for the price, though a Sprint with an automatic transmission was a real character-builder. Got three cylinders and uses 'em all! 48 horsepower from this hemi-headed SOHC 1-liter. The Turbo Sprint — yes, such a car existed — had a howling 70 horsepower. The hood-latch release is a rectangular button that resembles a badge. 1985 Chevy Sprint Commercial The highest-mileage, lowest-priced car you can buy. 1985 holden barina commercial The Australian-market version was the Holden Barina, and the TV ads featured the Road Runner. 1983 SUZUKI CULTUS Ad In its homeland, this car got screaming guitars and a drive through New York City for its TV commercials.