2007 Gmc Sierra Denali on 2040-cars

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GM profit dips on truck changeover, but beats estimates

DETROIT — General Motors on Thursday reported a higher-than-expected quarterly profit despite a drop in production of high-margin pickup trucks, as it gears up for new models that are expected to boost profits next year. Like rivals Ford and Fiat Chrysler Automobiles, GM is banking on highly-profitable Chevy Silverado and GMC Sierra pickup trucks to lift profits, as consumers shift away from traditional passenger cars in favor of these larger, more comfortable trucks, SUVs and crossovers. During the first quarter, the process of changing over to GM's new pickups resulted in a drop in production of 47,000 units. GM Chief Financial Officer Chuck Stevens said the production drop had resulted in a drop in pre-tax profit of up to $800 million. Earlier this year, GM said its 2018 profits would be flat compared with 2017, but expected its all-new pickup trucks would boost margins starting in 2019. On Thursday, GM reiterated its full-year 2018 forecast for adjusted earnings in a range from $6.30 to $6.60 per share. The automaker said capital expenditures were more than $500 million higher in the quarter because of investments its new pickup trucks and a family of low-cost vehicles under development with Chinese partner SAIC Motor Corp. On Wednesday, rival Ford said it would stop investing in most traditional passenger sedans in North America. CFO Stevens told reporters on Thursday that GM has "already indicated that we will make significantly lower investments on a go-forward basis" in sedans. 2019 GMC Sierra View 21 Photos GM benefited from a lower effective tax rate in the quarter, but adjusted pre-tax margin fell to 7.2 percent from 9.5 percent a year earlier. Stevens said the company's profit margin should hit 10 percent or higher in the second quarter and for the full year. GM said material costs were $700 million higher in the first quarter, and it expects those costs to continue rising. The automaker said it would counter those increases with cost cutting measures. "It is a more difficult environment than it was three or four months ago," Stevens said when asked about rising commodity prices from potential steel and aluminum tariffs announced by the Trump administration. "But we are confident we can continue to offset that." The company reported quarterly net income of $1.05 billion or $1.43 per share, a drop of nearly 60 percent from $2.61 billion or $1.75 per share a year earlier. Analysts had on average expected earnings per share of $1.24.

Hertz and GM team up to put 175,000 rental EVs on the road

Hertz and General Motors have announced a significant partnership that will send up to 175,000 electric vehicles into rental fleets across the country. The deal will unfold over the next five years and include vehicles from all GM brands.   The partnership will run through 2027. Hertz estimates that the electric fleet can save as many as 8 billion gasoline-powered miles, removing 1.8 million metric tons of carbon dioxide-equivalent emissions from the air. Hertz says it will invest in becoming the largest renter of EVs in North America and notes that it already has tens of thousands available at 500 locations in 38 states. By the end of 2024, it plans to electrify a quarter of its fleet. Electric rental cars are a great way for travelers wanting to avoid gas, and they make excellent urban commuter cars. Hertz will also likely save a few dollars by avoiding oil changes and other routine maintenance that gas engines need. However, a hidden societal benefit of this deal may come when Hertz’s EV rental customers begin shopping for new cars. Many people are skeptical of EVs for various reasons, including range, charging, ease of operation, and cost. Giving people a low-risk introduction to EVs and the ability to test-drive one without a pressuring salesperson could drive more people to electrics. At the same time, there's also the risk that renters wanting to take their Hertz-GM EV on a road trip into sparsely populated areas may return with charging and range-related horror stories. Hertz currently doesnÂ’t ask what youÂ’re planning to do with your rental, but it does offer a chat service for questions, and range information is presented clearly on each vehicle. Related video: 2023 Cadillac Lyriq walkaround

2020 GMC Sierra Heavy Duty First Drive Review | King of the haul

JACKSON HOLE, Wyo. — The 2020 GMC Sierra Heavy Duty is a bit of a mixed bag. It excels at the tasks an owner is likely to require from a massive pickup truck, but the interior is a definite letdown. Taken as a whole the truck boasts several class-leading specifications and features that make up for the lackluster look and feel of the cabin. And it's much more successful than the mechanically similar Chevy Silverado HD, which shares the Sierra's weaknesses but few of its subjective strengths. GMCÂ’s Sierra HD may share most of its major bits and pieces with the Silverado, but the strongest reason to pick the GMC over the Chevy is that the SLE and SLT trims of the Sierra HD are legitimately handsome. And the rugged, off-road-themed AT4 package is new for 2020 with a blacked-out look that we think a lot of buyers are going to love. Even the ostentatious, chrome-dipped Denali trim looks classy compared to the in-your-face look of FordÂ’s Super Duty line. The same canÂ’t be said for the Silverado HD, which, depending on trim level, varies from garish to just plain ugly. The six-function MultiPro tailgate is the next major differentiator. ItÂ’s not perfect — and mounting a hitch ball in the receiver renders some of its functionality unusable — but itÂ’s unique and potentially very useful to a subset of truck customers. WeÂ’ve covered MultiPro several times already, but if youÂ’re still not clear on its advantages, watch the video below for a demonstration (that's a light-duty Sierra in the video, but the tailgate works the same). This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Another unique selling proposition is the AT4 trim, since Chevrolet doesnÂ’t (yet) offer its Trail Boss package on the Silverado HD. The most obvious competitor to the Heavy Duty AT4 is the Ram Power Wagon, and the GMCÂ’s 3,615 pounds of payload and 18,500 pounds of towing capability handily outdo the RamÂ’s ratings of 1,660 and 10,620. Granted, the trucks arenÂ’t aimed at quite the same buyer — the Power Wagon has legit off-road credibility thanks to upgrades like its electronically disconnected sway bars, 12,000-pound Warn winch, and a forward-facing trail camera. But unlike the GMC Sierra AT4, it isnÂ’t available with a diesel. No matter; those aiming for a rough-and-tumble appearance in a heavy duty now have a couple options.