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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.

3 Quick Takes on the new Hummer EV

The 2022 GMC Hummer EV truck debuted Tuesday with 1,000 horsepower and up to 350 miles of range. It marks the return of the Hummer name after a decade-long absence and is the most ambitious electric vehicle General Motors has attempted. Here are three quick takes. This is how major vehicles will be revealed going forward The unveiling during Game 1 of the World Series on Fox and during The Voice on NBC could only have been bigger if done during the Super Bowl. A two-network debut complete with LeBron James providing voiceover for the commercial. On Fox, World Series play-play man Joe Buck neatly set up the spot and told millions of viewers that the order bank was now open. Then the Hummer debuted in what looked like a cut from the next Transformers movie. OK, this is not how every major car will be revealed, but the direct-to-consumer, as-many-eyeballs-as-possible, made-for-TV (or social media) event will be a key strategy going forward. In the last few months, the Detroit, Los Angeles and New York auto shows have all played leapfrog with dates, confusing many observers. The pandemic has obviously exacerbated the decline of auto shows, but if you’re an automaker, why share the spotlight in a convention hall? Most car reveals wonÂ’t be network TV spectacles, like the Hummer, but streaming services and other platforms will make a lot more sense than traditional means as companies compete for new buyers. This is how the Tesla Cybertruck should have looked Most would say the Hummer is pretty cool looking. The headlights, the grille, the blocky fenders and huge wheels — yeah, this looks straight out of central casting. ItÂ’s what you expected the reborn Hummer to look like, nominally now in the service of the GMC brand. Tesla made the Cybertruck a bit too crazy. Sure, itÂ’s attention-getting. But look at the Tesla. No one can objectively say the Cybertruck is aesthetically pleasing, from the shape to the features. ItÂ’s out-of-step with the graceful Model S and Model 3 sedans. The Hummer is futuristic, has interesting elements — like underbody cameras for off-roading and a T-top — and a massive presence. It doesnÂ’t need to do more. The addition of Super Cruise technology, however, is a nice touch. GM is serious about EVs The Hummer leads a blitz of EVs from GM, which is quietly yet ambitiously laying out an electric future.

Lamborghini Huracan Sterrato and GMC Acadia driven | Autoblog Podcast #837

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Electric, John Beltz Snyder. They're both jazzed after driving the off-road-ish and totally sublime Lamborghini Huracan Sterrato. John recently drove the new GMC Acadia, Greg spent some time in the Toyota Camry, and they also discuss Autoblog's long-term Subaru WRX. In the news, the Porsche 918 Cayman and Boxster are reportedly ending production, while it's officially the end of the road for the Nissan GT-R and Volvo S60. Fisker has officially filed for bankruptcy. Cadillac has shown off a couple cool Blackwing special editions in honor of Le Mans. Finally, we reach in the mailbag and help a listener pick a sporty convertible in this week's Spend My Money segment. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #837 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving: 2024 Lamborghini Huracan Sterrato 2024 GMC Acadia 2025 Toyota Camry Long-term 2023 Subaru WRX Porsche 718 Cayman and Boxster allegedly end production in October 2025 2024 Nissan GT-R the final year for the U.S. market 2025 Volvo S60 the last model year for the sedan in the U.S. Fisker files for Chapter 11 bankruptcy 2025 Cadillac CT5-V Blackwing 'Le Monstre' and CT4-V Blackwing Petit Pataud limited editions celebrate Le Mans Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Podcasts Cadillac Fisker GMC Lamborghini Nissan Porsche Subaru Toyota Volvo Coupe Crossover SUV Electric Hybrid Luxury Off-Road Vehicles Performance Supercars Sedan