2008 Gmc Acadia Slt-1 on 2040-cars

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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

GMC Safari GT, a rad-era hauler with custom-van swagger

The GMC Safari van, along with its Chevy Astro sibling, performed yeoman service ferrying passengers and hauling cargo for two decades starting in 1985. But one special variant, the Safari GT — and, at Chevrolet, the Astro RS — added an unexpected dollop of swagger. Those vans had a custom look that was straight out of the '70s "sin bin" era. One of those Safari GTs is up for grabs right now, fittingly, on the RADforsale auction site. The option package at both GMC and Chevrolet was coded BYP, the GT Sport Package, and it appears to have been offered from 1990 to 1994. Its defining element was the two-tone paint treatment shown here, with black on the lower body and the greenhouse, and your choice of white, silver, blue, gold, or red as the main body color. Blanked out rear quarter windows and "simulated air exhaust louvers" behind the middle side windows added a further bit of style (long-wheelbase XT versions skipped that flourish). Also included were a front air dam, blacked-out grille, aluminum rally wheels, and a sport suspension. This 1991 Safari GT appears to have been further sportified with a lower-body aero kit, a rooftop spoiler, and aftermarket wheels. This rear-wheel-drive, standard-wheelbase model is powered by a 4.3-liter V6 hooked to a four-speed automatic transmission. It has traveled a relatively low 126,000 miles and looks to be in exceptionally good shape — particularly given that most of these vans lived a hard life. At this writing, bidding stands at $5,100 with bidding to end May 21. That suggests this Astro GT will bring a strong price — but if you want one, you may be hard-pressed to find another.

GM under fire from safety advocates over braking problem caused by recall fix

Safety experts are lambasting General Motors over what they say is the automaker’s slow notification of owners of certain 2019 sedans and trucks that a recall fix could cause power braking to fail and increase the risk of a crash, the Detroit Free Press reports.  GMÂ’s original recall in December targeted about 550,000 Cadillac CT6 sedans and Chevrolet Silverado 1500 and GMC Sierra 1500 pickups, all from the 2019 model year, over potentially defective electronic stability control and antilock brakes. In that case, GM said the errors would not show up as a diagnostic warning on the instrument cluster. But after GM had done recall work on 162,000 vehicles, about 1,700 owner have complained that their power brakes didnÂ’t work after they had the recall done and then used the OnStar app to start their vehicle. GM then issued a supplemental fix for customers whoÂ’d already had their vehicles serviced. In this case, a diagnostic warning should illuminate saying either “Service Brake Assist” or “Service ECS,” which GM says is a signal that a customer should not drive the vehicle and instead call their dealer, which will tow the vehicle and have it repaired. Safety advocates say the automaker hasnÂ’t gone far enough to protect customers. “The fact that you could potentially start a vehicle and not have brakes is a pretty risky proposition,” Sean Kane, president of the Safety Research and Strategies, which works on auto issues for plaintiffs and governmental organizations, told the Freep. “The fact that they wouldnÂ’t notify owners (sooner) is pretty stunning.” GM told the Freep it was required to notify the National Highway Traffic Safety Administration and file paperwork before it notified customers about the original recall, which was made Dec. 12. It then had to investigate and resolve the problem created by its original recall fix before alerting customers. GMÂ’s call center and dealers are contacting the remaining 900 customers who havenÂ’t yet had the update made to the original recall repair. GM also hired a vendor to send recall letters to the 550,000 customers affected by the original recall notifying them about the update. There are no known injuries or deaths related to the problem. Read the Freep story here.