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General Motors posts record earnings, but global sales fall

General Motors started the year with record success. The automaker's $2.7 billion in adjusted earnings before interest and taxes was its highest ever in in the first quarter of 2016, up from $2.1 billion in from the same time period a year earlier. Net income grew to $1.95 billion, which was more than double the $953 million in the same period last year. The company's figures also beat analysts' predictions, according to the Detroit Free Press. Despite the financial growth, global sales actually decreased by 2.5 percent to 2.36 million vehicles. "We're growing where it counts, gaining retail share in the US, outpacing the industry in Europe and capitalizing on robust growth in SUV and luxury segments in China," CEO Mary Barra said in the company's financial announcement. GM did well in North America with an adjusted EBIT of $2.3 billion, up from $2.2 billion last year. Sales in the region also grew 1.2 percent to 800,000 vehicles. According to The Detroit Free Press, the company has been especially successful at selling more expensive models in the US. The company's average vehicle was $34,600 in Q1, about $3,000 more than the industry average. Elsewhere in the world, GM also showed improvement. Europe practically broke even after losing about $200 million last year, and Opel and Vauxhall sales grew 8.4 percent to more than 300,000 vehicles for the quarter. South America only lost $100 million, which was half as much as Q1 2015's $200 million loss. China remained flat at $500 million of income. Cadillac volume jumped 6.1 percent there, and Buick's deliveries increased 22 percent, thanks to the Envision crossover's success. GM Reports First-Quarter Net Income of $2.0 Billion 2016-04-21 EPS diluted of $1.24; First-quarter record EPS diluted-adjusted of $1.26 First-quarter record EBIT-adjusted of $2.7 billion GM Europe posts break-even performance DETROIT – General Motors Co. (NYSE: GM) today announced first-quarter net income to common stockholders of $2.0 billion or $1.24 per diluted share, compared to $0.9 billion or $0.56 per diluted share a year ago. Earnings per share diluted-adjusted for special items was a first-quarter record at $1.26, up 47 percent compared to the first quarter of 2015. The company set first-quarter records for earnings and margin, with earnings before interest and tax (EBIT) adjusted of $2.7 billion and EBIT-adjusted margin of 7.1 percent.

Buick Avenir Concept saunters into Detroit [w/video]

We'd never accuse the most recent crop of Buicks of being ugly. Then again, we'd also never argue that they're overly pretty. Instead, they waltz along a middle ground, not standing out while not causing offense. The Buick Avenir Concept occupies no such middle ground – it's gorgeous. A long hood and a short deck fit well with an evolved form of Buick's long-running design language, while traditional highlights such as the waterfall grille and portholes mingle nicely with newer touches, like a beautiful, curvaceous set of rear haunches that bleed into the rear decklid. The cabin, meanwhile, is solidly in the concept realm, with a prominent 12-inch touchscreen as its centerpiece. Like the exterior, the Avenir's cabin is an evolution of current Buick designs, with a curve that tops the dash and feeds into the doors. A higher center console is finished in buffed wood, although the majority of the interior materials appear to be fine leather. Check out our gallery of live images of the new Avenir, at the Buick stand at the 2015 Detroit Auto Show. Show full PR text Buick Explores Future with Avenir Concept New design proportion, device integration, rejuvenating interior push brand forward DETROIT – Buick introduced the Avenir concept today in advance of the North American International Auto Show – a flagship sedan exploring progressive design with new levels of passenger well-being and technology integration. The Avenir – French for future – is distinguished by its premium sports proportions and all-new interpretations of traditional Buick cues. It is the creation of a global team of Buick designers and sculptors who were inspired by historic Buick concepts, which pushed traditional boundaries, shaped future Buick models and influenced the entire auto industry. "Avenir embodies Buick design, which centers on effortless beauty and presence without pretense," said Ed Welburn, vice president of General Motors Global Design. "It demonstrates the growing international reach of Buick and offers an exciting vision of where it can go." The Avenir's sculptural surfacing, expressive proportion and Buick's signature sweep-spear bodyside visually cue an exceptional driving experience that awaits inside. "The interior is designed with the driver and passengers' comfort and well-being in mind," said Welburn.

Buick Envision CUV displays full-frontal nudity

Earlier this month, Shanghai GM gave us a glimpse of the production version of the Buick Envision concept revealed at the Shanghai Motor Show back in 2011. And now it's released the first unveiled shot and initial details of the crossover to slot in the considerable gap between the Encore and Enclave.
The new Envision is set later this year to reach Chinese showrooms, where it will be called the Ang Ke Wei, after which we're expecting it to arrive Stateside. The production-ready Envision is about the size of the Chevrolet Equinox or GMC Terrain, but is differentiated by a more upscale treatment and Buick's signature waterfall grille, flanked by Xenon headlamps and LED running lights and riding on 19-inch wheels.
Power comes from GM's familiar 2.0-liter turbo four with direct injection and stop/start ignition, driving 256 horsepower and 260 pound-feet of torque through a six-speed automatic transmission to all four wheels. That's about all that GM's Chinese operation has announced at this point - it's not even clear what platform the vehicle is on - but you can check out the press release for yourself below.