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GM is quietly slashing prices on base models

While General Motors' fourth quarter financial figures haven't yet been released, the automaker seems to be weathering a potentially rocky time well, even beating third-quarter projections last year. To keep the climb going, the company is launching new base trims for several popular models that make them cheaper than ever but with tight dealer margins. The new entry-level trims are the Chevrolet Cruze L, Equinox L, GMC Terrain SL and Buick LaCrosse 1SV. Buyers lose some content by picking them, but the prices are slashed. According to Cars Direct, the biggest savings are on the LaCrosse, where customers pay $31,065, plus $925 destination, $2,570 less than the previous base 1SB trim but must accept things like 17-inch wheels and no cargo net in the back. If you're wondering how Buick can remove only a little equipment but cut the price so much, it's because the company also slashed dealer margins. According to Cars Direct, the difference between the invoice and MSRP for the LaCrosse 1SV is only around $150, compared to around $1,350 before. The disparity is even greater for the Cruze with an $81 difference in the prices, compared to about $600 for the LS version. Showrooms are expected to keep very low stocks of these trims, though. "Dealers use such vehicles to get people in the door, but they do not generally want to do high volumes of these strippers. The margins are next to nothing; they don't make much money off these cars," said Ed Kim, Vice President of Industry Analysis for AutoPacific to Autoblog. Dealers are also expected to advertise that these new base trims undercut major competitors. For example, the Cruze L rings up for about $2,320 less than a Honda Civic LX, according to Cars Direct. One potential drawback for buyers is that these models might not be eligible for incentives. While the attractive prices might get customers into dealers, folks may not actually end up driving home with these entry-level models. Kim indicated base trims also make up a small portion of the sales mix. "Consumers aren't asking for stripped out vehicles, even at the low end of the marketplace," he said. Featured Gallery 2015 Chevrolet Cruze View 9 Photos News Source: Cars DirectImage Credit: Chevrolet Buick Chevrolet GM GMC Car Buying Car Dealers Crossover Sedan gmc terrain cheap cars

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

GM Defense shows Hummer EV-based military truck concept

GM Defense wants to convince the U.S. military that it has even more of what the military needs. During this week's Modern Day Marine 2023 exposition in Washington, D.C., GM Defense showed a new tactical vehicle concept based on the GMC Hummer EV platform. Called the Electric Military Concept Vehicle (eMCV), it uses the same Ultium platform and drivetrain as the retail Hummer EV. That means a 200-kWh battery (usable) powering three motors making 1,000 horsepower, with the two motors in back capable of torque vectoring, the single motor in front fitted with a locking diff. Upgrades over the dealership version include Fox shocks working larger 37-inch tires and heavy-duty brakes. The redrawn front and rear bumpers improve approach and departure angles. The tube chassis and lack of body panels would shed some of the Hummer's prodigious weight, nevertheless, range is reduced as a result of the other mods that reduce aerodynamic efficiency. Among said mods to the six-seater is a 46-inch gun ring and a swing side-arm mount when it's time to clock in. The estimated range drops to 300 miles from the 329 on the retail Hummer EV. Being mostly electric – more on that in a moment – the eMCV has features Silent Drive and Silent Watch driving modes could get fighters on-station with minimal noise.Plugged into a fast charger capable of 350 kilowatts, GM Defense says 12 minutes gets 100 miles of range. But when silence isn't a necessary factor, this is a series hybrid. GM Defense added a 12-kW diesel generator that can provide "limited charging and propulsion," which could also help charge "mission-critical equipment." A while back, the Army purchased a commercial Hummer EV for evaluation. The military didn't request this new concept, a GM Defense spokesperson telling Defense News it was built as a sign of potential. "We're trying to showcase what is in the realm of the possible just so we can get the discussion going and help shape [the military's] future requirements," the spokesperson said. "They get to see the different sizes and how to customize it, the different options." The eMCV sat on the trade show floor next to GM Defense's All-Electric Military Concept Vehicle, a Chevy Colorado-based Infantry Squad Vehicle (ISV) powered by a 60-kWh battery juicing an e-crate motor with 200 hp and 266 pound-feet of torque. The eISV was also built as a demonstrator without military input.