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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 Hummer EV SUV prototypes hit the trails in Moab

It seems like GMC's new Hummer EV pickup only just hit the market, but it's almost time to roll the hype train back through for the next installment: the SUV. GM President Mark Reuss shared images of some prototypes crawling on the rocks outside Moab in what he called "final testing validation" ahead of the SUV's projected arrival in showrooms some time in early 2023.  "With its aggressive 49-degree departure angle and tight turning radius of just 35.4-feet, the HUMMER EV SUV’s maneuverability, capability and performance make it an off-road supertruck," Reuss said in the post accompanying the photos. The over-the-river-and-through-the-woods routine depicted in the photos doesn't reveal much we don't already know about the forthcoming electric 4x4, but we can at least contextualize that 49-degree departure angle; the best you'll get from any Jeep Wrangler currently on sale is 40.4 degrees.  GMC's Hummer SUV will launch early next year with an 830-horsepower drivetrain, offering roughly 300 miles of driving range. Pricing will start at $105,595 before options. Later in 2023, GMC will release an EV2X variant with up to 625 horsepower, similar range and an $89,995 price tag. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

GMC introduces Canyon Nightfall Edition for the steathly and stylish

It may be just now arriving at dealers, but the 2015 GMC Canyon has just received its very first special edition trim, although the stealthy Nightfall Edition is, in the greater scheme of aesthetic upgrades, pretty basic. GMC has blacked out the truck's grille and side steps, added a spray-in bedliner as standard, fitted new 18-inch "Dark Argent" wheels with black inserts, a polished exhaust tip, remote start and automatic climate control. Naturally, the Nightfall Edition is only available with Onyx Black paint. Customers interested in the blacked-out pickup will need to choose between two-wheel drive and four-wheel drive, although they'll be freed the burden of picking a trim level or body style, as the Nightfall is limited to the mid-grade SLE with the four-door crew cab arrangement. "The new Canyon Nightfall Edition expands the Canyon lineup and gives style-conscious customers another choice," GMC's vice president of sales and marketing, Duncan Aldred, said in a statement. "Importantly, customers get the great looks of the Canyon Nightfall Edition and its unique content at a greater value than ordering the features separately." GMC has not released any information about the price of the Nightfall Edition, or when it will arrive in dealerships. Scroll down for the full press release announcing the newest member of the Canyon family. GMC Introduces 2015 Canyon Nightfall Edition Special edition model offers sleek, shadowy appearance 2015-01-08 DETROIT – GMC today introduced the 2015 Canyon Nightfall Edition – a stylized, blacked-out edition of the brand's all-new premium midsize truck that blends a dramatic appearance with popular features and accessories. The Canyon Nightfall Edition is offered on SLE crew cab models, either 2WD or 4WD, in Onyx Black and will be available in the first quarter of 2015. In addition to standard equipment on the SLE, the Canyon Nightfall Edition includes: Unique black grille Black assist steps Factory spray-in bedliner 18-inch multi-spoke aluminum wheels with Dark Argent painted inserts Polished exhaust tip Automatic climate control Remote start "The new Canyon Nightfall Edition expands the Canyon lineup and gives style-conscious customers another choice," said Duncan Aldred, vice president of GMC Sales and Marketing.