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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

2023 GMC Canyon revealed with new ZR2-based AT4X trim

Following up on the reveal of its twin, the Chevy Colorado, the 2023 GMC Canyon has made its appearance. Naturally, it shares much with the Chevy pickup, but GMC has gone to greater lengths to differentiate the truck. It comes standard with the high-output engine, all versions feature the wide-track suspension setup, and in addition to the now more luxurious Denali, there's a ZR2-based AT4X trim. As with the new Colorado, the Canyon gets an overhaul of the design. It's down to one bed and cab configuration (short-bed, crew cab), and it features a longer wheelbase with the front axle pushed forward. The Canyon does get a variety of unique design features, though. It has its own front fascia with a tall, rectangular grille. LED lighting is standard on all Canyon models all the way around. That includes the unique fender lights like those found on the Sierra HD. All Canyons also feature the wide-track off-road suspension like the Colorado Z71 and Trail Boss. There are no narrow-track, narrow-body versions, even on the base two-wheel-drive Elevation. That suspension also means all Canyons have a roughly two-inch lift over base Chevy Colorados. The GMCs also get standard 32-inch tires, and they don't feature a front air dam in order to provide better approach angles. The bed, while only available in one trim, is available with a unique storage bin in the tailgate. On the topic of suspension specs, the Elevation and AT4 trim levels have 9.6 inches of ground clearance. The Denali increases that to 10.5 inches, and the AT4X features 10.6 inches. It also picks up the Multimatic spool-valve shocks from the ZR2. But we'll talk more about what comes on the AT4X in a bit. Under the hood of the Canyon is just one engine. It gets the highest-output version of the 2.7-liter turbocharged four-cylinder. The engine makes 310 horsepower and 430 pound-feet of torque. The only transmission is an eight-speed automatic. Two-wheel drive comes standard on Elevation, and other trims come standard with four-wheel drive. The inside of the Canyon is very similar to the Colorado, but it has some unique cues. It has air vents that are more integrated into the squared-off dashboard design, rather than the Chevy's round vents. It has a differently shaped dash pad and trim surrounds, too. The really big differences come on the Denali and AT4X trims, though. The Denali features real wood trim with laser etchings. It also gets lots of real leather and fancy stitching.

GMC Sierra spied with ZR2-style off-road modifications

A few months ago, the 2022 Chevy Silverado ZR2 was revealed with a bunch of off-road goodies to help it achieve a little more parity with trucks like the Ford F-150 Raptor and Ram 1500 TRX. But GM has another full-size truck, the GMC Sierra, and it would seem silly to us if the company didn't share those parts. Based on these spy photos, it seems GM agrees. Though thoroughly camouflaged, we can tell this truck is a GMC Sierra thanks to the sheetmetal on the doors and the distinct shape of the wheel arches. Under the wrappings, we can see that this Sierra features a very different front bumper to the current king of Sierra off-road models, the AT4X. The bottom edge is much higher for better clearance, particularly on the sides in front of the wheels. This is the same type of change applied to the Silverado ZR2's front end. It does appear to be missing the ZR2's skid plate, though we suspect that's a temporarily missing component on this prototype. One other off-road upgrade this Sierra features is a pair of rock rails to protect the rocker panels on the cab. What we can't see are the shocks installed on this truck. If this is a GMC version of the ZR2, it should have the spool-valve shocks from Multimatic. They're some of our favorite suspension components on any vehicle. Other components it should have are locking front and rear differentials, 33-inch tires and a standard 6.2-liter V8. Since the Silverado ZR2 is already revealed and ready for production, we would expect to see the GMC version soon. A good bet would be for a reveal in time for the 2023 model year. As for a name, it's hard to say, since we've already had AT4 and AT4X. It could be named something completely separate from the AT4 line. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.