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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

Camaro chief: 'rock-star' 4-cylinder set for Mustang fight

It was inevitable, the 2016 Chevy Camaro had to have a four-cylinder engine. The archrival Ford Mustang packs a spunky 2.3-liter EcoBoost four-banger, and everyone from BMW to Subaru uses four-cylinders to great effect to power their sports cars. Now it's Chevy's turn. Again. The Camaro ran the infamous Iron Duke four-cylinder with 88 to 92 horsepower in the 1980s. It was a fuel-economy play at a time when performance was not a priority. After the 1970s muscle-car era, output even for the V8s didn't top 200 hp again until the mid-'80s. Thankfully for enthusiasts, things have changed dramatically in the last 30 years. The gen six Camaro will offer a 2.0-liter inline four-cylinder with 275 horsepower. It's the standard engine, slotting below the 335-hp V6 and the 455-hp V8. But don't mistake the new I4 for an Iron Duke encore. Camaro chief engineer Al Oppenheiser called it a "rock star" and said cars equipped with it feel lighter than V6 models. The four-cylinder (295 pound-feet at 3,000-4,500 rpm) also summons more torque in quicker fashion than the V6 (284 lb-ft at 5,300 rpm). Chevy expects the Camaro to hit 60 miles per hour in "well under six seconds," according to press materials. The Mustang EcoBoost (310 hp, 320 lb-ft) clocks times in the low to mid five-second range. "We're not doing it just so we have one," Oppenheiser said. "We're not doing it because like in gen three you're forced to do it because of fuel economy. We're doing it because it belongs in the car. It has a distinct character." Speaking with Autoblog recently at the Detroit Grand Prix racecourse on Belle Isle, Oppenheiser said he expects the I4 to attract a younger crowd to the Camaro and will put up stiff competition against the V6 for sales. "I've read blogs where younger folks won't buy a Camaro because it doesn't have a 2.0-liter turbo or a turbocharged four-cylinder," he said. "So we're going to excite them." While we talked a lot about four-cylinder engines, Oppenheiser also elaborated on the V6 (It's pretty damn good, too. We drove it.) and the new Alpha platform that the Camaro borrowed from Cadillac. Here's the rest of our edited conversation. Autoblog: Talk a little bit about the four-cylinder – the first turbo four-cylinder ever for Camaro. Do you have any idea what the take rate's going to be? Al Oppenheiser: I think it's going to surprise a lot of people. It's actually a fun car to drive. It's got a really good balance of turbo noise and exhaust note.

Is the skill of rev matching being lost to computers?

If the ability to drive a vehicle equipped with a manual gearbox is becoming a lost art, then the skill of being able to match revs on downshifts is the stuff they would teach at the automotive equivalent of the Shaolin Temple. The usefulness of rev matching in street driving is limited most of the time – aside from sounding cool and impressing your friends. But out on a race track or the occasional fast, windy road, its benefits are abundantly clear. While in motion, the engine speed and wheel speed of a vehicle with a manual transmission are kept in sync when the clutch is engaged (i.e. when the clutch pedal is not being pressed down). However, when changing gear, that mechanical link is severed briefly, and the synchronization between the motor and wheels is broken. When upshifting during acceleration, this isn't much of an issue, as there's typically not a huge disparity between engine speed and wheel speed as a car accelerates. Rev-matching downshifts is the stuff they would teach at the automotive equivalent of the Shaolin Temple. But when slowing down and downshifting – as you might do when approaching a corner at a high rate of speed – that gap of time caused by the disengagement of the clutch from the engine causes the revs to drop. Without bringing up the revs somehow to help the engine speed match the wheel speed in the gear you're about to use, you'll typically get a sudden jolt when re-engaging the clutch as physics brings everything back into sync. That jolt can be a big problem when you're moving along swiftly, causing instability or even a loss of traction, particularly in rear-wheel-drive cars. So the point of rev matching is to blip the throttle simultaneously as you downshift gears in order to bring the engine speed to a closer match with the wheel speed before you re-engage the clutch in that lower gear, in turn providing a much smoother downshift. When braking is thrown in, you get heel-toe downshifting, which involves some dexterity to use all three pedals at the same time with just two feet – clutch in, slow the car while revving, clutch out. However, even if you're aware of heel-toe technique and the basic elements of how to perform a rev match, perfecting it to the point of making it useful can be difficult.