2006 Chevrolet Silverado 1500 Lt3 on 2040-cars

Auto blog

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.

Basic configurator for 2021 Chevy Colorado and GMC Canyon slips online

TFLnow discovered basic configurators for the 2021 Chevrolet Colorado and GMC Canyon are already online at GM's site for employee discounts. These aren't the fully-featured whiz-bang configurators that will show on the retail websites soon, but they include a bunch of the relevant info a shopper would be looking for. After trim changes detailed earlier this year, the 2021 Colorado offers the most choice, even with the two-door base model gone. Cutting the entry-level Colorado also means the entry-level price has gone up by $3,900; the 2020 Colorado could be had for $22,495, but the 2021 model starts at $26,395 after the $1,195 destination charge. That gets you the extended cab with a standard bed in two-wheel drive. The 2WD crew cab with a short bed starts at $28,295, and the 2WD crew cab with a standard bed starts at $30,595. At the top end, the ZR2 model runs $44,395, which is $200 more than the 2020 version. The color palette isn't complete, but the options page shows a number of choices for packages. The Redline Special Edition Package goes up $10 to $2,690, the Tonneau and Step Package increase $100 to $1,195, a new Chrome Package puts shiny stuff in places like the door handles and steps for $300, while the Black Bowtie Emblem Package drops $80 to $140. The one-inch front leveling kit, which was thought to cost $150 based on early order information GM Authority had seen, is here listed for $450 and available on the Colorado but not the Canyon.  The Canyon makes matters a tad simpler by having many options locked in depending on which one starts with — 2WD Elevation Standard starting at $27,595, 2WD Elevation for $31,195, 4WD AT4 with a cloth interior for $39,395 or AT4 with leather for $41,195, the least expensive Denali starting at $42,095 for a crew cab short box with 2WD. The Elevation includes items like the Convenience Package that are options on the base model, and also offers a $1,400 High Elevation Package conferring heated and power black leather seats, plus a heated steering wheel, that can't be optioned on the Elevation Standard. The pinnacle is the crew cab with a standard bed in Denali 4WD trim for $45,895. Colors and many of the final options and accessories, such as the AT4 Off-Road Performance Edition Package we've heard about, are also missing here, but there's heaps to play around with to get an idea of what you'll be in for if you're considering a 2021 Canyon. Related Video:    

8 cars we're most looking forward to driving in 2015

Now that 2014 is officially in the books, it's time to look ahead. And following our list of the cars we liked best last year, we're now setting our sights at the hot new metal that's coming our way in 2015. Some of these, we've already seen. And some are still set to debut during the 2015 auto show season. But these are the machines that keep us going – the things on the horizon that we're particularly stoked to drive, and drive hard. Jeep Renegade Not the Chevrolet Corvette Z06. Not the Ford Mustang GT350. Not the new John Cooper Works Mini. Nope, I'm looking forward to the adorable, trail-rated Jeep Renegade. And that's because I really, really, really like our long-term Jeep Cherokee Trailhawk. I do not, however, care too much for the Cherokee's looks, and I really don't like its $38,059 price tag. The Renegade Trailhawk, meanwhile, promises much of the same rough-and-tumble character as its big brother, but at what we expect will be a more reasonable price (I'm personally wagering on the baby Jeep's off-road model starting at no more than $23,000). With a 2.4-liter four-cylinder and a nine-speed automatic, it should also be a bit easier to fill than the V6-powered Cherokee. Also, I can't help but love the way the Renegade looks. It's like someone took a Wrangler, squished it by 50 percent and then handed it off to George Clinton for a healthy dose of funk. The interior, with its bright, expressive trims and color schemes should also be a really nice place to spend some time. I'll be attending the Renegade's launch later this month, so I'll have a much shorter wait than my colleagues. Here's hoping the baby Jeep lives up to my expectations. – Brandon Turkus Associate Editor Mazda MX-5 Miata Here's an uncomfortable truth: I'd rather spend a day driving a properly sorted Mazda MX-5 Miata of any generation on a winding road than I would nearly any other vehicle, regardless of power, price or prestige. It's not just that I prize top-down driving and enjoy the Miata's small size because it gives me more road to play with. I just find there's more motoring joy to be had with high-fidelity handling and an uncorrupted car-to-driver communication loop than I do with face-distorting power or grip – let alone valet-stand gravitas. But perhaps most of all, I love Miatas because they can deliver that level of feedback and driver reward at modest speeds that won't put the locals on edge or endanger lives – you can use more of the car more of the time.