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GM threatens predatory dealers with order cancellations, non-transferrable warranties

General Motors will launch a second salvo against misbehaving dealerships next week with a new set of policies aimed at curbing predatory markup strategies. With the new Chevrolet Corvette Z06, GMC Hummer EV SUV and Cadillac Escalade-V about to head into production, GM is putting its foot down yet again. Dealers that attempt to circumvent GM's markup restrictions by dealing directly with brokers or other resellers could find themselves in a particularly nasty spot, as the company is threatening to withhold future allocations and end the transferability of warranties when dealers facilitate the reselling of vehicles within 12 months.  While this may help curb some dealership chicanery, it's possible the real loser in such a deal could end up being the customer who unwittingly ends up with an un-warrantied vehicle. We suspect GM has accounted for that, but we'll have to wait until next week to find out exactly how these new policies will be enforced.

Chevy updates Silverado HD with new towing equipment

Enamored by the updated Chevy Silverado released just the other day, but need something a little more heavy duty? Chevy isn't going to keep you around waiting for long, as it has now revealed a new Silverado HD as well. While the new Silverado 1500-series has been distinguished over the outgoing version principally by its revised styling, the updated Silverado HD is more about its enhanced equipment. It's got a new Digital Steering Assist system (on some models) designed to enable easier and safer towing. There's a new gooseneck/5th-wheel trailer prep package that enables Chevy's new heavy duty truck to tow as much as 23,200 pounds. And the interior equipment is augmented as well by a new MyLink system with seven- or available eight-inch display, Apple CarPlay and Android Auto capability, wireless phone charging and more. Buyers will be able to choose between two versions (2500HD and 3500HD), four trim levels, three cab sizes, two cargo box lengths, and numerous powertrain and drivetrain configurations for a staggering array of combinations. There'll also be several special editions and packages, like the Z71 for off-road use and Custom Sport Edition for a sleeker look, as well as chassis cab and CNG versions. Scope out the full details in the press release below and the fresh batch of images in the gallery above. Related Video: 2016 Chevy Silverado HD Offers Digital Steering Assist Control-enhancing system, phone integration and 5th wheel package lead updates 2015-09-24 DETROIT – Chevrolet Silverado HD trucks are engineered to make the toughest jobs easier, and new technologies for 2016 complement features such as integrated cruise control, powertrain grade braking and diesel exhaust braking to enhance control. New Digital Steering Assist power steering on some double cab and crew cab models helps make hauling and trailering easier and more confident, with electronic controls that enhance road holding and stability on the highway – particularly on crowned roads – regardless of whether the truck is loaded. It also offers greater responsiveness and an improved steering feel. Digital Steering Assist is not available on Work Truck models or regular cab. There's also a new Gooseneck/5th Wheel Trailering Prep Package, with a spray-in bedliner, that makes Silverado HD models ready to tow larger trailers right from the factory.

GM posts $4 billion third-quarter profit thanks to trucks and SUVs

DETROIT — General Motors is posting huge third quarter numbers, pulling in $4 billion in profit over three months after losing money due to the virus outbreak. GM's adjusted earnings were $2.83 per share, easily outpacing Wall Street's per-share projections of $1.43, according to a survey by FactSet. Revenue of $35.5 billion also edged out most expectations. Shares jumped almost 6% before the opening bell Thursday. The company swung back from a $806 million loss in the second quarter, when it was restarting factories shuttered for safety during the early stages of the pandemic. The Detroit automaker joined most global automakers in reporting better-than-expected earnings from July through September as sales across the globe started to rebound from coronavirus lockdowns, especially in China. GM sales in China jumped 12% in the third quarter, with sales of its Buick and Cadillac brands both rising more than 25%. In the U.S., GMÂ’s most profitable market, sales fell 9.9% in the third quarter compared with a year ago, but were a dramatic improvement over the 34% drop in the second quarter. Sales improved sequentially each month, the automaker said, an encouraging trend. GMÂ’s profit was boosted by higher-priced pickup trucks and large SUVs, which have seen strong sales in the U.S. through the pandemic. It was the best quarter on record for GM's Chevrolet Blazer. Sales of the Cadillac XT6 spiked 45% in the U.S. over last year. Large pickups also sold well. GM also said it was pumping $2 billion into its Spring Hill, Tennessee manufacturing plant to push its transition to produce electric vehicles. Last week, crosstown rivals Fiat Chrysler and Ford reported strong third-quarter net income. FCA said it made $1.4 billion for the period, while Ford earned $2.39 billion. Related Video: Earnings/Financials Buick Cadillac Chevrolet GM GMC