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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.

A Chevy Camaro hybrid? That's what EcoCAR3 could bring

Figuring out a way for a hybrid powertrain to co-exist with the performance expectations of a classic American muscle car is a challenge that could vex that most experienced of automotive engineers. It's a challenge, in fact, being handed to a bunch of college students. Over the next four years, students from 16 North American colleges and universities will attempt to wring fuel efficiency from a 2016 Chevy Camaro as part of EcoCAR3, an advanced-vehicle technology competition sponsored by the Department of Energy, General Motors and others. They'll be attempting to use hybrid or plug-in hybrid technology while not sacrificing the performance of the Camaro, which was selected in part because the current model achieves just 17 miles per gallon in city driving and 28 MPGs on the highway, per EPA numbers. Students will get the latest version of the vehicle to work on, one that is expected to be unveiled next month on Belle Isle in Detroit. "If we still want to produce V8 Camaros, we're going to have to look at alternative methods of propulsion," said Al Oppenheiser, the chief engineer on the Camaro. "So the ideas that these college teams come up with could very easily be adapted to a car like the Camaro." Unlike similar competitions that reward fuel efficiency in vehicles, EcoCAR seeks those gains while emphasizing cost and consumer acceptance of these vehicles. The cars shouldn't look like experiments; they should look like everyday vehicles on the road. Previous competitions have allowed the teams to use whatever powertrain they desired. This time, EcoCAR officials designed the competition to concentrate on hybrid, hybrid-electric and diesel options. Competitors won't have the option of using hydrogen fuel cells as they have in the past. Last year, a team from Colorado State built a vehicle that contained both hydrogen and electric power sources. This year's limit is a curious choice, as some automakers such as Toyota have placed heavy bets on fuel cells in recent years. General Motors also runs a fuel-cell program. With the focus on cost and practicality, however, the program officials wanted to narrow the framework of the contest. "We always have some good decisions on what to make within the scope or out of scope," said Jim Kolhoff, global director of software engineering for General Motors.

Man spent $75 on a truck that lasted 38 years

Absurd as it is, some buyers today are worried about getting their car to last throughout the term of their seven-year car loan. Minnesota resident Bob Sportel has the opposite issue: his Chevrolet truck seemingly won't die. Sportel needed a cheap ride to get to work when he took a job at a farmer's co-op 38 years ago, so he bought a rusty 1957 Chevy pickup for $75 from a farmer; at the time, the 20-year-old truck was almost as old as Bob was. After nearly four decades of daily driving and an estimated 300,000 miles, Sportel is still driving the truck today. Bolts secure a fender, Bondo secures the lights, what looks like a whole roll of duct tape keeps him sitting on the bench seat instead of in it. For a 58-year-old pickup that's never seen a garage or a new coat of paint – but did get its oil changed four times a year – that's not bad; Sportel thinks his repair bill hasn't got above $1,000 for the entire time he's owned the truck. He still has no plans to get rid of it, saying, "It just becomes a part of you." You can watch his story in the video above. News Source: KARE11.com Chevrolet Truck Classics Videos