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GM sees 'strong year' in 2018, then gold in Chevy Silverado for 2019

DETROIT — General Motors said on Tuesday it expects earnings in 2018 to be largely flat compared with 2017, but that profits should pick up pace in 2019 as its revamped line of high-margin pickup trucks hits the U.S. market. The 2018 earnings outlook was above market expectations, sending GM shares up more than 3 percent in premarket trading. "GM had a very good 2017 as we continued to transform our company to be more focused, resilient and profitable," GM Chief Executive Mary Barra said in a statement. "We are positioned for another strong year in 2018 and an even better one in 2019." GM and its Detroit rivals, Ford and Fiat Chrysler Automobiles, are bringing on new trucks at a time when overall U.S. new vehicle sales have been falling, but truck sales continue to grow as consumers abandon passenger cars in favor of pickups, SUVs and crossovers. GM on Saturday fired a new round in the battle for profits from one of the U.S. auto industry's most lucrative segments when it showed a new generation of its Chevrolet Silverado pickup truck at the Detroit auto show. The new Silverado, a highlight of the event, is the successor to GM's best-selling vehicle in North America. Sales of the current Silverado rose nearly 2 percent to 585,000 vehicles in 2017. In the coming months, the company will also reveal a revamped GMC Sierra pickup truck. U.S. new vehicle sales fell 2 percent in 2017 after hitting a record high in 2016, and are expected to drop further in 2018 as interest rates rise and more late-model used cars return to dealer lots to compete with new ones. GM said on Tuesday that while it retools a factory in Ft. Wayne, Indiana, to make the new pickup trucks, it will shift some production to an Oshawa, Ontario, plant in order to avoid missing sales in a hot market for the vehicles. The No. 1 U.S. automaker said it will record a $7 billion non-cash charge for its fourth-quarter 2017 earnings related to deferred tax assets. GM said it expects capital expenditure in 2018 of around $8.5 billion, about $1 billion of which will go toward funding self-driving car technology. Last week, the company said it is seeking U.S. government approval for a fully autonomous car — one without a steering wheel, brake pedal or accelerator pedal — to enter the automaker's first commercial ride-sharing fleet in 2019. GM said it expects 2017 earnings per share at the high end of its previously forecast range of $6 to $6.50.

2024 GMC Hummer EV SUV First Drive Review: Still impressive, even out of its element

SAN FRANCISCO – Our first experience with the GMC Hummer EV in any form was spent in an environment clearly ideal for such a vehicle. That first drive of the production-ready truck was in Arizona, a place with large, open freeways and rocky, desert terrain. Notably, they were areas that could showcase the Hummer's strengths: enormous power and acceleration, a lack of trees or narrow lanes to hinder its size, and sufficiently rocky terrain to demonstrate its remarkable off-road abilities. So it was particularly strange that the media's first experience with the Hummer EV SUV would involve the tight streets and twisty mountain passes of San Francisco and Napa Valley, locations that certainly would seem to put the Hummer on the back tire. In some ways they certainly did, but at the same time, they revealed the Hummer is surprisingly capable out of its element, and maybe even a good fit for the area. The start of our driving time involved leaving downtown San Francisco and heading up Highway 29 to Napa where GM had set up a number of demonstrations like those at the truck first drive, and where our winery hotel was. In the birthplace of Tesla, where Models of all letters and number are ubiquitous, the monster black Hummer definitely stood out. And not just for its sheer size: it is the technological flagship of General Motors, perhaps the most traditional of American car manufacturers. On the other hand, the locale also felt appropriate given that flagship status, from its flashy instrument and infotainment displays, to its acrobatic suspension and steering systems. This is as good a time as any to go over what makes the Hummer EV SUV different from the truck. Obviously it has a solid roof over a cargo area instead of an open bed. It's also the smaller of the two giants: total length is 20 inches shorter (excluding the spare tire) and the wheelbase is 8 inches shorter. That pays a few dividends in maneuverability both on and off road. The turning circle of the SUV is 1.7 feet smaller, at 35.4 feet, which is almost 3 feet tighter than that of the Chevy Bolt EUV. The breakover angle is also improved by 10.6 degrees (49 at max ride height) and the departure angled by 2.2 degrees (34.4 at max ride height). Though the bed is gone, the interior cargo space is certainly spacious, with maximum capacity of 81.8 cubic feet with the rear seats folded perfectly flat into the admittedly high load floor.

2020 Chevy Silverado, GMC Sierra recalled due to faulty brake component

General Motors is recalling 2020 Chevrolet Silverado 1500 and GMC Sierra 1500 pickups to fix a defect in the trucks' brake system. Certain Silverado and Sierra pickups were produced with brake-caliper bolts that were not heat-treated. Without heat-treating, the bolts are weaker than they should be, and there is a risk that they could fail, which would affect the trucks' braking performance, possibly leading to a crash. In total, 20,352 vehicles are affected. Owners of affected trucks will be contacted by GM. Dealers will inspect the bolts and replace those that are defective. Related Video: