Sle 2wd Low Miles Crew Cab Truck Automatic Diesel 6.6l V8 Fi Turbo Silver Birch on 2040-cars

Auto blog

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

2021 GMC Canyon AT4 will offer an Off-Road Performance Edition Package

In March 2018, GMC announced the 2019 Sierra 1500 AT4, the alphanumeric finale denoting heightened ridge height and off-road capability. In December of that year, GMC took the AT4 further, creating an Off-Road Performance Package that boosted horsepower and torque, and re-soled the 18-inch machined rims in Goodyear Wrangler DuraTrac Mud Terrains. History will repeat itself in 2020, one truck size category down. GMC unveiled the Canyon AT4 (pictured) in Vail, Colorado, earlier this month, and now GM Authority reports that a Canyon AT4 Off-Road Performance Edition Package is on the way later this year.  The Canyon AT4, which replaces the Canyon All Terrain, upgrades the standard truck with all the erstwhile All Terrain kit like tuned suspension, Advanced Hill Descent Control, transfer case skid plate, automatic locking rear differential, and 31-inch Goodyear Wrangler DuraTrac tires on 17-inch aluminum wheels. Design tweaks include the new, bolder front fascia and red recovery hooks. The Canyon AT4 Off-Road Performance Package goes a different route than on the Sierra, improving ruggedness instead of engine output. GMA says the suite includes front and middle performance skid plates, rocker protection, a spray-on bedliner, performance exhaust tip, and 17-inch gloss black aluminum wheels in favor of the Dark Argent Metallic units. A front leveling kit removes the factory rake. This variant will wear a black AT4 badge as opposed to the regular red and chrome AT4 denominator. Inside, we'll guess the AT4's Kalahari stitching and embroidered headrests stay in the game. They'll be joined by all-weather mats. Since GMC hasn't announced the upfit, we don't have pictures or pricing. Tallying up what individual options we could on the 2020 Canyon All Terrain came to $1,970, but that doesn't reflect pricing for next year's new AT4 trim, nor does it include components like the front leveling kit or gloss black wheels. GM Authority said production should begin in June or July, so we can look forward to info closer to summer. Related Video:    

GM promises to add 20 EVs and fuel-cell cars to lineup, paid for by SUVs

DETROIT — General Motors outlined plans on Monday to add 20 new battery electric and fuel-cell vehicles to its global product lineup by 2023, financed by robust profits from sales of gasoline-fueled trucks and sport utility vehicles in the United States and China. "General Motors believes in an all-electric future," GM global product development chief Mark Reuss said on Monday during a briefing at the company's suburban Detroit technical center. Future generations of GM electric vehicles "will be profitable," Reuss said, but added it was not clear when GM could make all its new vehicle offerings zero-emission electric cars. Regulators in China and some European countries have floated proposals to ban internal combustion engines by 2030 or 2040. "We will continue to make sure our internal combustion engines will get more and more efficient," Reuss said. GM shares were up more than 4 percent in midday New York trading on positive comments from Rod Lache, auto analyst at Deutsche Bank. Automakers, including electric vehicle market leader Tesla, lose money on electric cars because battery costs are still higher than comparable internal combustion engines. The company offered sneak peeks of three EV prototypes: a Buick SUV, a sporty Cadillac wagon and a futuristic pod car wearing a Bolt badge. GM funds its forays into new technology using a river of cash generated by old-technology vehicles popular with its core customer base in the United States heartland. In comparison, Tesla has burned through an estimated $10 billion in cash and has yet to show a full year profit. GM earned more than 90 percent of its $12.5 billion in pretax profits last year in North America, amid robust demand for its lineup of large sport utility vehicles and pickup trucks. The company's profitable operations in China rely on consumer demand for an expanding lineup of gasoline powered SUVs. GM has previously announced plans to make some of its future electric vehicles capable of driving themselves in robot taxi fleets. The company offered sneak peeks of three electric vehicle prototypes: a Buick brand sport utility vehicle, a sporty Cadillac wagon and a futuristic pod car wearing a Bolt badge. GM collaborated with Korean battery maker LG Chem to build the Bolt battery system. Company officials did not say what companies would supply batteries for the larger fleet of vehicles promised by 2023. Fuel-cell vehicles will also play a role in GM's future, the company said.