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GM earnings rise 1% as buyers pay more for popular pickups

DETROIT — General Motors said Thursday that higher prices for popular pickup trucks and SUVs helped overcome slowing global sales and profit rose by 1% in the second quarter. The Detroit automaker said it made $2.42 billion, or $1.66 per share, from April through June. Adjusting for restructuring costs, GM made $1.64 per share, blowing by analyst estimates of $1.44. Quarterly revenue fell 2% to $36.06 billion, but still beat estimates. Analysts polled by FactSet expected $35.97 billion. Global sales fell 6% to 1.94 million vehicles led by declines in North America and Asia Pacific, Middle East and Africa. The company says sales in China were weak, and it expects that to continue through the year. In the United States, customers paid an average of $41,461 for a GM vehicle during the quarter, an increase of 2.2%, as buyers went for loaded-out pickups and SUVs, according to the Edmunds.com auto pricing site. The U.S. is GM's most profitable market. Chief Financial Officer Dhivya Suryadevara said she expects the strong pricing to continue, especially as GM rolls out a diesel pickup and new heavy-duty trucks in the second half of the year. "We think the fundamentals do remain strong, especially in the truck market," she said, adding that strength in the overall economy and aging trucks now on the road should help keep the trend going. Light trucks accounted for 83.1% of GM's sales in the quarter, and pickup truck sales rose 8.5% as GM transitioned to new models of the Chevrolet Silverado and GMC Sierra, according to Edmunds, which provides content to The Associated Press. As usual, GM made most of its money in North America, reporting $3 billion in pretax earnings. International operations including China broke even, while the company spent $300 million on its GM Cruise automated vehicle unit. Its financial arm made $500 million in pretax income. Suryadevara said GM saw $700 million in savings during the quarter from restructuring actions announced late last year that included cutting about 8,000 white-collar workers through layoffs, buyouts and early retirements. The company also announced plans to close five North American factories, shedding another 6,000 jobs. About 3,000 factory workers in the U.S. whose jobs were eliminated at four plants will be placed at other factories, but they could have to relocate. GM expects the restructuring to generate $2 billion to $2.5 billion in annual cost savings by the end of this year.

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.

Hacker jury rigs Amazon Echo into voice-controlled remote start

A lot of automakers have smartphone apps to start, lock, or unlock a connected car. Some automakers will even let you do that with a smartwatch. Then, there's YouTube user Jryanishere, who decided to use Amazon's chatty Echo voice-controlled, internet-connected information thingy. Yes, we said thingy, because we aren't really sure how else to describe the Echo. While the Echo system has received a hearty ad campaign – featuring Alec Baldwin asking Amazon's virtual assistant, Alexa, questions and ordering socks – we think this might be the first really useful thing we've seen it do. Using a MacBook, a Raspberry Pi, an Echo, an OBDLink plug-in, and his 4G LTE-equipped GMC, Jryanishere has basically made a voice-controlled remote-start system. Now, like so many voice-controlled things, this strikes us more of an extravagance than something that's functionally worthwhile. After all, the remote start on the a GMC keyfob isn't exactly rocket science. You can check out the Echo in action up top. Jryanishere gives a pretty thorough breakdown of how the setup works in the video above, but if you're at all into this sort of technological mischief, you'll want to watch (and check out the hilariously detailed blog explaining the job). Related Video: