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Trucks and tidbits from GM's earnings report
Wed, Feb 6 2019General Motors announced this morning that 2018 was a good year for it financially, thanks in large part to the company's performance in North America, which was predicated, according to the company, on "strong pricing, surging crossover sales, successful execution of the company's full-size truck launch, growth of GM Financial earnings, and disciplined cost control." GM reported full-year income of $8.1 billion and EBIT-adjusted income of $11.8 billion. Crossover sales in 2018 were 1,034,808, an increase of 7 percent compared to 2017 deliveries. Throw in the body-on-frame SUVs and the ute number is a total 1,295,700. But let's face it: It is the trucks that really matter. The Chevy Silverado and Colorado, the GMC Sierra and Canyon. Altogether, GM sold 973,463 pickups in the U.S. in 2018. Although Ford gets bragging rights for F-Series sales, GM gets to point out that it has a greater aggregate number. An important factor regarding the trucks and the reported income is that during the last quarter, more than 90 percent of the new 2019 trucks were crew cabs (which have a higher sticker), and at GMC more than 70 percent were Denali and AT4 models (which have even higher stickers). According to reporting by Bloomberg, GM's pickup trucks combine for $65 billion in annual revenue. Clearly when the 2018 sales of the Silverado — 585,581— dwarf the combined sales of both Buick (206,863) and Cadillac combined (154,702), pickups are what matter to the overall health of the company in a way that it is difficult to otherwise achieve. The "disciplined cost control" is something that is very much in the public eye right now, as the company is taking out thousands of its workers, and there is still the "unallocated" plant situation and other plants that will remain under capacity. The numbers in GM's earnings report probably made Unifor members' heads explode in consternation, coming fresh off their Super Bowl ad: " GM, you may have forgotten our generosity, but we'll never forget your greed." But there are a couple of curiosities in the full GM earnings release. One is that so far as its autonomous efforts go, it mentions only that (1) in the first quarter of 2018 Cruise introduced a production-ready autonomous vehicle, and (2) Cruise attracted $5 billion in external capital from SoftBank and Honda. Not a whole lot of love for autonomy. Good thing they have the trucks to fund the program, to say nothing of the external capital.
Buick takes top spot in 2022 J.D. Power Initial Quality Study
Tue, Jun 28 2022People, economies, and supply chains weren't the only things continuing to get sick over the past year. The 2022 J.D. Power Initial Quality Study (IQS) is out, showing the average rate of problems per 100 vehicles (PP100) during the first 90 days of ownership increased overall. The average figure for the 32 ranked manufacturers in 2020 was about 166 problems per 100 vehicles. In the 2021 IQS, that dropped to an average of 162. This year, the average jumps to 180 problems. J.D. Power says that figure is a record high over the 36-year history of the study. Buick leapt to the top of the rankings this year with the fewest issues, at 139 problems per 100 vehicles in the first 100 days of ownership. After Dodge became the first American automaker to lead the IQS in 2020, followed by Ram in 2021, this year marks a three-peat for U.S. carmakers. Dodge took second this year at 143 PP100, Chevrolet third with 147 PP100, Genesis the first luxury maker on the chart in fourth with 156 PP100. Between February and May, this year's study gathered responses to 223 questions from more than 84,000 new 2022-model-year car owners and lessees. The questions are designed to zero in on real-world problems new owners encounter with nine categories of vehicle features: Infotainment; features, controls and displays; exterior; driving assistance; interior; powertrain; seats; driving experience; and climate. As has been the case in the past few year, infotainment has proved to be the most problematic bugbear making scores worse. Considering features individually, six of 10 of the worst problem areas dealt with infotainment, causing infotainment's score of 45 PP100 to be 19.5 PP100 worse than the second-placed feature. Consumers ranked getting Android Auto and Apple CarPlay to connect reliably as the most troublesome. GM didn't just score with Buick, which was one of only nine of the 33 ranked brands to show improvement this year. The conglomerate earned first place with the fewest PP100 among all the automaker groups, and scored the most model-level awards with nine, ahead of BMW with eight and Hyundai Group with three. This year's study again showed a gap between luxury and mass-market makers, thought to be down to the amount of tech in luxury vehicles that consumers aren't properly informed about or that doesn't act as expected — that latter issue exacerbated by the chip shortage.
Chevy Bolt meets 2016 Nissan Leaf at LA NEDW event [UPDATE]
Mon, Sep 14 2015The 2015 National Drive Electric Week kicked off this past weekend with events happening all around the world. Our friends from Plug In America (PIA) send us some notes and pictures from one of the larger events in Los Angeles, CA. This event was special because it saw the debut of the 2016 Nissan Leaf and the west coast debut of the Chevy Bolt concept. The two electric vehicles were in the same place at the same time for the first time ever. Besides that little bit of electric vehicle history, the organizers helped facilitate 800 test drives, PIA co-founder Zan Dubin Scott told AutoblogGreen. The city of Los Angeles also gave proclamations to movie director Chris Paine (Who Killed The Electric Car? and Revenge Of The Electric Car) and the three national organizers of Drive Electric Week: PIA, the Sierra Club and the Electric Auto Association. Speakers at the event included names that should be familiar to AutoblogGreen readers: California state senator Kevin de Leon, race car driver Leilani Munter, and Dave Barthmuss of General Motors, among others. Joel Levin, the executive director of Plug In America, said during his speech that, "Electric cars are changing the world. Every time one of these vehicles gets sold, our air gets a little cleaner. We will take a big bite out of climate change. Our economy will not be subject to wild swings in gas prices. And we will not be involved in foreign wars over oil." Tell us about your own NEDW events (that happened already or are about to happen) in the Comments below. UPDATE: We received the text of Andrew Speaker's comments at the event. Speaker is Nissan's director of Electric Vehicle (EV) Sales & Marketing. We've included them below. Thank you, and good afternoon! On behalf of Nissan, we are proud to sponsor National Drive Electric Week, and we're excited to be able to celebrate it here in Los Angeles with all of you. This is actually my first National Drive Electric Week event, and I am inspired by the level of enthusiasm here today, and seeing everyone's passion for electric vehicles first hand. Nissan has had some big news in the last few days with the introduction of the 2016 Nissan LEAF, which is the world's first affordable electric car to get more than 100 miles of range on a single charge. The 2016 LEAF offers a new 30 kWh battery with an EPA-rated 107 miles of range... and its making its global debut here in Los Angeles.
