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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

The 2020 Buick LaCrosse we won't get looks exceptional

GM is killing off the Buick LaCrosse in the United States after the 2019 model year, but elsewhere it lives on. Buried by all the Geneva news this week, GM quietly took the wraps off a 2020 Buick LaCrosse facelift for China. It only makes sense to keep selling the big Buick in the popular Chinese market (now Buick's largest), but we're a tad jealous of what we can't have stateside. The changes Buick has implemented make the LaCrosse into a far more handsome option. Both the front and rear get massaged here. A new horizontal patterned grille, slimmer headlights with a neat LED design, plus new lower bumper surround all work together to provide a more upscale look. The view out back is an even larger departure from the old and somewhat awkward rear end on the 2019 LaCrosse. Smaller, flowing taillights mesh well with the chrome strip on the trunk lid, then dual exhaust outlets offer a sporty flair to the squat rear end. The Buick badge looks cohesive with the look as a whole now, instead of just chilling out alone on the expansive trunk lid. An updated powertrain package goes along with the new looks, too. GM is snagging its new 2.0-liter turbocharged four-cylinder LSY engine it uses in the Cadillac XT4 for duty here. It makes 237 horsepower and 258 pound-feet of torque, and is mated to GM's nine-speed automatic transmission. China will be the only market to see this generation of LaCrosse as GM plans to exclusively produce it in its Shanghai facility. The Detroit-Hamtramck plant that previously made it for all North American markets was among those facilities GM announced would close, bringing with it the LaCrosse and other vehicles. Related video:

Best and worst car brands of 2022 according to Consumer Reports

It's that time again, Consumer Reports this morning lifting the curtain on its 2022 Annual Car Brand rankings and its 10 Top Picks in the car, crossover, and truck category. Drumroll, please: This year, Subaru climbs two spots to claim the winner's circle, having come third the last two years. Last year, Mazda climbed three spots from 2020 to take the crown. This year, Mazda slipped to second, BMW taking the last spot on the podium, also a one-spot drop from 2021. Six automakers in the top 10 hailed from Japan, which is one more than last year, and five luxury makers occupied the top 10, which is two more than last year. And South Korean representation didn't crack the top this year, after Hyundai managed tenth last year. The seven makes after BMW are: Honda, Lexus, Audi, Porsche, Mini, Toyota, and Infiniti.  The magazine and testing concern says its Brand Report Card "[reveals] which automakers are producing the most well-performing, safe, and reliable vehicles based on CR’s independent testing and member surveys," and that "Brands that rise to the top tend to have the most consistent performance across their model lineups." The domestics also took steps back among the 32 OEMs ranked on the 2022 card. Chrysler and Buick were the domestic carmakers who made last year's top 10 in eighth and ninth, respectively. This year, Buick dropped to eleventh, Chrysler to thirteenth. Dodge went from fourteenth to sixteenth. CR continues to ding Tesla's yoke steerer, the not-exactly-natural handhold responsible for the electric carmaker going from sixteenth last year to twenty-third this year.