2014 Chevrolet Silverado 1500 Work Truck 2wt 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.

Peter Max staring down $1M lawsuit over Corvette collection sale

Pop artist Peter Max recently sold off his collection of 36 vintage Chevrolet Corvettes – one each from 1953 to 1989 ­– for an undisclosed amount. The new owners have already announced plans to restore some of them and auction the models off sometime soon. Up until then, the sports cars had been languishing in various garages around New York City for decades and were caked in dust and grime. However, Max's end of the transaction has just become more complicated, because two men are suing the artist claiming he employed them to complete the deal first. The men allege that Max hired them to broker the sale of the 36 Corvettes in exchange for a 10-percent commission, according to the New York Post. They claim to have emails and text messages proving the existence of the deal, and are taking Max to court for $1 million over the squabble. The collection of Corvettes was amassed in 1989 as part of a prize package from the television network VH1, and Max bought the cars from the winner intending on using them for an art project. He never got around to it, though, and parked the sports cars around New York, until he finally sold them over the summer.

nuTonomy beats Uber to market with self-driving taxi rides, and the latest Corvette ZR1spy shots | Autoblog Minute

Software developer nuTonomy beats Uber to market with self-driving taxi rides in Singapore. A 124 Coupe could soon join Fiat's roadster lineup, and we have the latest spy shots of the new Corvette ZR!. Senior Editor Greg Migliore reports on this edition of Autoblog Mintue. Senior Editor Greg Migliore reports on this edition of Autoblog Mintue. Show full video transcript text [00:00:00] Massachusetts based software company, nuTonomy, launched its self-driving taxi service in Singapore this week. nuTonomy specializes in developing software for self-driving cars. Testing of the companies ride-hailing smartphone app occurred in Singapore, where riders were able to book a free driverless ride. nuTonomy's robo-taxi fleet is comprised of Renault Zoes and Mitsubishi i-MiEVs. Engineers from nuTonomy were present at this public launch as a safety measure. [00:00:30] The company will now continue to collect data and conduct more testing with its self-driving cars in Singapore, Michigan and the United Kingdom. nuTonomy has plans to offer widely-available commercial service in Singapore in 2018. nuTonomy's aggressive play in Singapore has put Uber and its partner Volvo in the unlikely position of playing catch-up. Autocar reported this week that we should expect FCA to add a Coupe [00:01:00] to it's 124 roadster lineup. When? Well, seeing as the 124 Spider just recently made it US dealers we may have to wait until next year to see a hardtop Fiata. It's tough to predict what kind of performance we can expect out of a 124 Coupe but in the U.S. the Spider has 160hp using a 1.4-l turbocharged engine. So the car you see in these pictures is actually Fiat's 124 Rally car that will be used for competition. [00:01:30] Now that's not exactly how the street car will look but it gives you an idea of what a 124 with a fixed roof is gonna look like. This week we got another look at what we think is the Chevy Corvette ZR1 and its massive rear wing. Now to be clear, the images that we're seeing are actually demonstrations. The car was actually captured without the rear wing. However, our spy photographers photoshopped the wing, which we've seen before, on some of these new shots just so you could get [00:02:00] a sense of what the car looks like driving around in it's most recent state. Now we think this car will make more than 700hp, which is kind of a magic number. The Hellcats from Chrysler make 707 so certainly GM wants to beat them.