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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.

Corvette Stingray gets optional Z06 components

If you've got a Corvette Stingray in the garage and have been tempted by some of the upgrades incorporated into the Z06, but can't quite bring yourself to trade up, Chevy has got some good news for you. The Bowtie brand has announced a series of performance parts derived from those in the Z06, but applicable to the base Stingray. The list of parts includes new cooling elements, prop shafts, brakes, suspension components, and underbody braces. They can all be fitted to Stingray models with or without the Z51 performance kit, and promise to raise the Corvette's game if not quite to Z06 levels, then closer to them. And for Z06 owners interested in gaining a bit more advantage, Chevy is offering a new Level 3 aero kit as well. The parts were demonstrated on upgraded 'Vettes at the Ron Fellows driving school at Spring Mountain. The school is also serving as technical partner and the track as the location for a new spec racing series built around the C7 Corvette. Dubbed the Michelin Corvette Challenge, the calendar is composed of fifteen half-hour races held in pairs over eight weekends, all on the six-mile circuit near Las Vegas. The cars to be used in the series will be close to showroom stock and feature many of the new Z06-derived upgrades, with Michelin racing slicks for dry weather and Pilot Super Sport tires in the wet. Perhaps most compelling of all will be the payment plan that will allow participating amateur racers to pay in installments across the season and take home their Corvette after the season's conclusion in December. New Z06 Parts Enhance Corvette Stingray Performance Broad range of chassis, suspension and aero components enhance capability 2015-11-02 PAHRUMP, Nev. – Chevrolet today and drivers from the Ron Fellows Corvette high-performance driving school at the Spring Mountain track demonstrated Stingray models enhanced with components from a new lineup of Z06-based performance parts. They're designed for 2014+ Stingray models, including Z51-equipped cars. "We've selected specific components from the Corvette Z06 and engineered them to fit the award-winning Stingray," said Jim Campbell, Chevrolet U.S. vice president of Performance Vehicles and Motorsports. "These Z06 parts enhance the handling, braking, cooling and downforce performance of the Stingray." Ron Fellows, champion Corvette Racing driver, collaborated with Chevrolet Performance engineers on the all-new portfolio.

15 vehicles most likely to surpass 200,000 miles

Americans drive a lot. Collectively, we put, on average, more than 13,000 miles on our cars each year according to the U.S. Department of Transportation. Because of this, a vehicle's ability to travel long distances without major problems is a huge consideration when it comes time to purchase a new one. It's also worth remembering that keeping an older car on the road instead of trashing it and buying new can be considered an eco-friendly decision. After all, it takes a lot of resources to build a car. iSeeCars.com, a website that aggregates used car listings from all around the country, recently ran through the numbers on millions of vehicles that are currently on the road to determine which last the longest. Alternatively, you could choose to look at this list as vehicles likely to be driven by owners who travel long distances. Either way, we've laid out the top 15 vehicles most likely to hit or even surpass the 200,000-mile mark. It's important to note that while these are the vehicles that have stood the test of time up until today, we can't guarantee future results if you decide to opt for one of these from a current model year. That said, unless we specifically say so in the text below, we've used pictures of current models for illustrative purposes. Now, with all of that out of the way, scroll on down for the top 15 vehicles most likely to crest 200,000 miles. 15: Toyota Sienna 14: Honda Odyssey The 15th spot and 14th spot on the list of the top 15 vehicles most likely to surpass 200,000 miles are both minivans. Spoiler alert: They will be the only two minivans on the list. According to iSeeCars, 3.2% of both of these family haulers crest the 200,000-mile mark, making them the best bets for families looking to put a ton of miles on their machines. 13: Honda Ridgeline 12: GMC Yukon The next spot on the list is occupied by the Honda Ridgeline pickup truck with 3.7% lasting past 200,000 miles. Unlike any of the other midsize trucks it competes with, the Ridgeline is based on a unibody chassis. Opting for this more car-like structure — as opposed to a traditional body-on-frame layout — allows Honda's hauler to ride and drive more like a car. Up next is the GMC Yukon, also with 3.7% past the 200K mark, and the first, but very much not the last, big traditional SUV you'll see on the list. In fact, get ready to see a whole bunch of 'em, including several from GMC parent General Motors.