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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.

2017 Buick LaCrosse gets Avenir-inspired tease

Stylish touches from the beautiful Buick Avenir Concept are actually hitting the road on the front end of the new 2017 LaCrosse. The brand is showing off this single teaser of a more angular grille surround than what is currently seen on its lineup. In the center there's a three-color version of the well-known Tri-Shield badge. Chrome wings meet at the logo, and vertical chrome bars lead the eye up over the body. A version of this design is eventually becoming part of the entire Buick lineup by 2018. Debuting at the 2015 Los Angles Auto Show in November, the future LaCrosse rides on stronger, lighter underpinnings than the current model. It also gets a five-link rear suspension. The company promises that the changes mean a more engaging drive from the sedan. "The Avenir concept shattered expectations of what a Buick could be and the 2017 LaCrosse promises to do the same," Duncan Aldred, vice president of Buick, said in the release of the teaser image. The show car's look was highly praised by critics when it debuted at this year's Detroit Auto Show. The Avenir even won Eyes on Design awards for Best Designed Concept Vehicle and Innovative Use of Color, Graphics, and Materials. Related Video: Buick Previews All-New 2017 LaCrosse Expressive, Avenir-inspired design cues introduce the new face of Buick DETROIT – Buick today confirmed the all-new 2017 LaCrosse, with a preview of its Avenir concept-inspired design cues. A striking evolution from current Buick models, LaCrosse features a grille design that puts a new face on the brand, including a new, three-color tri-shield insignia set on a wing-shaped element. Contrasting with darkened waterfall grille bars and spanning the width of the opening, it connects the grille and headlamps, and emphasizes LaCrosse's new sculptural surfacing. The design was introduced on the Avenir concept and was inspired by the 1954 Wildcat II concept. It's a face all Buick models will adopt by 2018. "The Avenir concept shattered expectations of what a Buick could be and the 2017 LaCrosse promises to do the same," said Duncan Aldred, vice president of Buick. "Its expressive design represents a break from convention and highlights the progressiveness in all new Buick models." The next-generation LaCrosse's design is framed on an all-new chassis that is stronger yet lighter than the current model and serves as the foundation for a more dynamic driving experience.

Sunday Drive: A tale of old favorites and upcoming challengers

Sedans and crossovers dominated the attention of our readers last week, led by the completely redesigned 2018 Honda Accord. It's the Japanese automaker's flagship, and people are seriously interested in finding out how good the latest Accord is. So interested, in fact, that no other single story came close to the brand-new Accord in Autoblog reader interest. Moving down the list we find the equally new 2018 Buick Enclave. The three-row crossover has a lot to offer a family, especially one looking for a nice, quiet ride. If you're looking for the exact opposite of nice and quiet, but still want enough room for you and your significant others, the Subaru WRX that we tested last week may be the perfect ride for you. Or, if you just want to drive fast and aren't at all worried about space, there's the Camaro SS. See? We offer something for everybody. From there, we look to the future. Who isn't interested in seeing the first fully electric vehicle from Porsche? And who isn't intrigued to see the Mission E testing alongside a gaggle of Teslas? A brand-new Jeep is always a big deal, especially when it's the revival of a classic nameplate like the Grand Wagoneer. And finally, we have something completely different: the Rezvani Tank. As always, tune in to Autoblog next week for a front-row seat to all the happenings worth following in the automotive industry. 2018 Honda Accord First Drive | Feels like home again 2018 Buick Enclave First Drive Review | Fortress of quietude 2018 Subaru WRX Drivers' Notes | Turbo traditionalist 2018 Chevy Camaro SS Drivers' Notes | Demonstrative power, middling interior Porsche Mission E caught testing against Teslas Jeep three-row SUV caught on public roads — Grand Wagoneer, perhaps? Rezvani Tank: It's like a Hot Wheels car brought to life Green Buick Chevrolet Honda Jeep Porsche Subaru Crossover SUV Electric Future Vehicles Luxury Off-Road Vehicles Special and Limited Editions Performance Sedan porsche mission e sunday drive