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Buick rolls out more potent Encore Sport Touring

Buick has announced a new Sport Touring version of the Encore. And more than a trim level or special edition, we're glad to report that the new model packs a more potent engine. Instead of the 1.4-liter turbo four that produces 138 horsepower and 148 pound-feet of torque in the standard Encore, the new Sport Touring model features a newer, more powerful engine that GM says shares little with the existing unit aside from its displacement. The new 1.4-liter turbocharged, direct-injection engine produces a more commanding 153 hp and 177 lb-ft of torque, which is up a good 11 percent and 20 percent, respectively, over the existing engine. It's still mated to a six-speed automatic transmission, and features a stop/start system to optimize fuel efficiency. Buick wasn't willing to estimate where the mile-per-gallon numbers might land, though that information will be available closer to sale. Along with the upgraded engine, Buick is also throwing in 18-inch wheels, a rear spoiler, and the features from the Convenience package as well. The new Encore model follows just a couple of months after we first caught wind of a trademark filed for the Sport Touring name. At the time, it looked like it was set to be applied to the Regal and LaCrosse sedan, which could still follow as well. Related Video: Buick Introduces 2016 Encore Sport Touring New 1.4L turbo engine adds performance, exclusive exterior cues add distinction 2015-07-20 DETROIT – Buick today introduced the 2016 Encore Sport Touring – a more spirited take on the brand's popular crossover. It is distinguished by unique exterior cues and driven by an exclusive, all-new 1.4L turbocharged engine featuring direct injection and stop/start technology. The exterior features include a winged rear spoiler, 18-inch aluminum premium-finish wheels and body-color door handles, while the technologically advanced 1.4L turbo is part of a new, global family of small, power-dense engines developed to balance performance and efficiency with exceptional refinement. Direct injection helps it generate an estimated 153 hp (112 kW) and 177 lb-ft of torque (240 Nm), for about 11 percent more horsepower and nearly 20 percent more torque than the Encore's standard engine – and a greater feeling of power on demand, particularly at low- and mid-range engine speeds. It's matched with a six-speed automatic transmission. Stop/start technology contributes to reduced fuel consumption in stop-and-go driving.

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

GM laying off more than 4,000 workers Monday morning

According to reports from Automotive News, The Detroit News, and CNN, General Motors plans to begin laying off more than 4,000 salaried workers starting Monday morning. In a statement to AN, a spokesperson for the automaker said, "We are not confirming timing. Our employees are our priority. We will communicate with them first." We've been expecting layoffs at General Motors since November, 2018. At the time, the Detroit-based automaker announced it would seek to shed 8,100 salaried employees, shut down five assembly plants in North America, and kill off several slow-selling models. One month earlier, GM offered buyout packages to 18,000 workers and said it would seek to cut its global workforce by 25 percent. A spokesperson said at the time the moves were "proactive steps to get ahead of the curve by accelerating our efforts to address overall business performance." The cost-cutting moves are expected to save GM up to $2.5 billion in 2019 and as much as $6 billion by 2020. David Kudla, CEO and chief investment strategist of Mainstay Capital Management, referred to the impending culling as "Black Monday" and told The Detroit News that the layoffs would begin around 7:30 a.m. and continue in waves throughout the coming days and weeks. GM plans to deliver on its fourth-quarter and full-year 2018 earnings report on Wednesday. President Donald Trump plans to deliver the annual State of the Union address a day earlier on Tuesday. We expect to hear plenty more from both sides over the next several days.