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GM CEO Barra says 'we are selling every truck we can build'

DETROIT — General Motors Chief Executive Mary Barra said on Monday the automaker is "selling every truck we can build" and expanding North American truck-building capacity, even as U.S. gasoline prices hit record highs. Barra made her comments during the automaker's annual shareholder meeting. GM is pursuing a two-track strategy: Investing heavily in electric vehicles for North America, China and other markets, and funding those investments by trying to maximize profits from its North American combustion pickup truck and large SUV lineups. Barra said GM is planning higher-priced versions of its Silverado large pickup and its large SUV models. GM and its Detroit rivals Ford Motor Co and Stellantis NV rely heavily on sales of large pickup trucks and SUVs for global profits. High U.S. gasoline prices in the past have undermined consumer demand for relatively inefficient models. Nominal pump prices hit an average of above $5 a gallon for the first time ever last week, the federal government said Friday. GM is ramping up production of EVs. Barra said the Cadillac Lyriq electric sport utility is sold out through 2023. In response to shareholder questions, Barra said the "clear priority" for using cash generated by its operations is to "accelerate our EV plans." She did not rule out share buybacks or other approaches to returning cash to shareholders. GM still expects to increase production this year by 25-30%, despite continuing pressure on semiconductor supplies globally. Barra said GM is working to redesign vehicles to reduce the number of processors required by 95%. Barra serves as GM's board chair and CEO. GM shareholders overwhelmingly rejected a proposal to separate those roles.

Average transaction prices climb to a record $36,270 in January

The automotive sector made a hash of the numbers last month, a mess of pluses and minuses clogging the transaction-price charts according to Kelley Blue Book. The overall industry rose one percent, even though buyers bought fewer cars and light vehicles in January 2018 vs 2017 using the selling-day adjusted rate. Due to January transaction prices rising to $36,270, a record for January, the value of new vehicles sold climbed more than $1 billion compared to January 2017. KBB's transaction prices don't include customer incentives, which changes the complexion slightly; average incentive spending rose to just over ten percent. The average transaction price in December 2017 was $36,756, so January dropped a bit - nothing unexpected, with the month annually blamed for "January doldrums." More revealing is the fact that the average transaction price in January 2017 was $34,910. This year's plumped-up figure came courtesy of the continued shift to crossovers, SUVs, and light trucks, which shouldn't surprise anyone who's read an automotive blog in the past 20 years. That category comprised nearly 70 percent of new vehicle sales for the month. Some manufacturers profited more than others, though. Fiat Chrysler managed 12.8 percent fewer sales in January compared year-on-year, but the company's vehicles sold for $1,300 more. The Ford brand suffered a 6.3-percent dip in sales, but brand transaction prices increased $2,000, while a Lincoln sold for $8,700 more on average. General Motors sold more cars and sold them for more money; overall GM transaction prices rose four percent, or $1,270, while a GMC traded hands for seven-percent more than in January 2017 and a Cadillac got $2,300 more on average. Of KBB's listed automakers, the Volkswagen Group got the most of out its customers, transaction prices rising at the German automaker by 5.6 percent to $42,243 in January 2018 compared to a year earlier. American Honda followed with a 4.3-percent increase to $28,991, GM in third at 4.1 percent to $40,313. Find your next car at Autoblog using our new and used car listings or the Car Finder tool. Broken out by segment, minivans rocked the table, transaction prices leaping by 7.9 percent to $35,380 compared to January a year earlier. Luxury cars boasted the next-highest rise, at 3.6 percent to $58,533.

2021 GMC Canyon AT4 Road Test | The everyday tool

Bold take: The GMC Canyon is the most well-rounded midsize truck. Admittedly, “well-rounded” is a lukewarm compliment, but the Canyon does nearly everything well. It is not the flashiest, which is undeniably the Jeep Gladiator. Or the most comfortable, which is the Honda Ridgeline. But for those seeking a midsize truck that looks like a truck, drives like a truck and has a solid interior, the Canyon is the right formula. We would test the 2021 GMC Canyon AT4 for a week and find that itÂ’s pleasant, capable and sturdy off-road. We would haul a bookshelf in the bed, get dirty during a woodsy soft-road jaunt and pile up the miles running around town. In short, itÂ’s exactly what most need in a midsize truck.  The AT4 model is new for 2021, and it replaces the All-Terrain model, a move GMC is rolling out across its lineup. The AT4 adds an off-road-tuned suspension with hill-descent control, beefy 31-inch Goodyear Wrangler DuraTrac tires wrapped around 17-inch aluminum wheels, standard four-wheel drive with locking rear differential and a transfer case skid plate. The AT4 punches up the CanyonÂ’s appearance with red tow hooks, dark chrome elements and a bigger grille thatÂ’s similar to the SierraÂ’s. The Canyon Denali, which was also refreshed for ‘21, is showier, but the AT4 trim feels cooler with its understated off-road vibes. Considering this, we head out for an afternoon drive along a familiar route through DetroitÂ’s northern suburbs. The Canyon is a solid daily driver. The 3.6-liter V6 rated at 308 horsepower and 275 pound-feet of torque is widely used in General Motors vehicles. ItÂ’s powerful and actually sounds pretty good — even throaty — in GMCÂ’s midsize truck. Our passengers are surprised to be pulled back in their seats during hard acceleration, and the eight-speed automatic transmission is well-calibrated for the many jobs the Canyon is called upon to perform. This powertrain, standard in the AT4 and Denali trims, is a step up from the 2.5-liter inline-four and six-speed auto offered on the lower models. ItÂ’s worth it. The 2.8-liter Duramax diesel is an option on higher-spec Canyons, and its 369 lb-ft of torque is tantalizing. For everyday use, take the V6. Our tester with the gasoline V6 and four-wheel drive can tow as much as 7,000 pounds, has a maximum payload of 1,609 pounds and has respectable fuel economy of 17 mpg in the city and 24 mpg on the highway.