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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.

2014 Buick LaCrosse updated with new styling, tech

Buick might have one of the smallest lineups among major automakers, but by the time the 2014 model rolls around, it will definitely have one of the freshest. Debuting at the New York Auto Show this week, the 2014 Buick LaCrosse receives numerous styling changes inside and out, and it benefits from many of the same new features found on closely related models like the Cadillac XTS and the 2014 Chevrolet Impala.
Exterior changes are relatively minor, but they still help give the car a fresh, new look. The new face of the 2014 LaCrosse fits in with recently new or redesigned Buick models with its oversized waterfall grille, LED-trimmed headlights and the signature hood vents being moved to the side of the hood rather than the top. Similar changes have been made to the rear, like the reshaped LED taillights, the full-width chrome trim and a new fascia design; LaCrosse models equipped with the 3.6-liter V6 will still get the integrated exhaust finishers but they're executed in a more stylish manner than the current model. Finishing off the exterior, new wheel designs are also being introduced, which will include bringing 20-inch wheels to the sedan's option list.
Inside, Buick redesigned almost the entire cabin to create a more luxurious and upscale appearance. The instrument panel is essentially carried over, but pretty much everything else has been redesigned and updated with the biggest change being to the driver's area. Dual eight-inch configurable displays make up the center stack and gauge cluster, while the overall number of buttons have been reduced from 17 down to just seven. The 2014 LaCrosse will also be offered with the next-generation IntelliLink, which receives many of the same enhancements as Chevy's latest version of MyLink adding better customization, improved voice commands and more features including Pandora. Additionally, new door panels, seat and center console complete the LaCrosse's interior redesign.

2017 Buick Encore freshens up for the New York Auto Show

Buick is dressing up the 2017 Encore for spring – specifically the New York Auto Show – where the compact crossover is expected to strut its stuff. The freshening follows the playbook of the Chevy Trax, which was also updated with a light hand. Though it keeps its familiar shape, sort of like an oversized Pontiac Vibe, the Encore gets Buick's new grille. It's a simple look with the wings bisecting the brand's tri-shield, and it calls to mind Buick's iconic front ends from yesteryear. You might remember it from the Avenir and Avista concepts. There are also new headlights. They look stolen from Audi, and it's an attention-getting gaze for the new face of the Encore. There will likely be new wheel packages, too. We can't see inside the Encore. Spy photographers couldn't get close enough to this Buick shoot in Southern California. But, we expect the interior to also mirror the Trax enhancements, which included a new instrument panel, gauges, materials, and infotainment. The Encore shares underpinnings with the Trax and Opel Mokka. We expect the Encore to arrive in late summer. Related Video: Featured Gallery 2017 Buick Encore Spy Shots Image Credit: Brian Williams / SpiedBilde Design/Style Spy Photos New York Auto Show Buick Crossover buick encore