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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.

Junkyard Gem: 1984 Buick Skyhawk Custom Sedan

Many laughed in 1982 when GM's Cadillac Division began selling the Cimarron, essentially a luxed-up Chevy Cavalier, at about twice the Cavalier's price. One rung below Cadillac on GM's Ladder of Success, the Buick Division got its own version of the Cavalier at the same time: the Skyhawk. Nobody laughed at the 1982-1989 Skyhawk's respectable sales figures. We saw an '85 Skyhawk coupe in a California boneyard last winter, and now here's an example of the sedan version in Colorado. This was the second generation of the Buick Skyhawk name, the first being applied to a Buick-ized version of the Chevrolet Monza during the 1975-1980 model years. That Skyhawk was available solely as a sleek two-door hatchback. This generation of Skyhawk could be purchased in coupe, sedan, hatchback (1986-1987 only) and wagon (1983-1989 only) form, with the coupe proving to be the most popular. For the 1984 model year, the base Skyhawk engine was the 2.0-liter pushrod four-cylinder from the Cavalier, rated at 86 horsepower and 110 pound-feet. If you opted for a five-speed manual or three-speed automatic transmission instead of the base four-on-the-floor manual, you could spend an extra 50 bucks (about 149 bucks in 2023 money) to get this higher-revving, Opel-designed/Brazilian-made 1.8-liter SOHC four-banger with 84 horsepower and 102 pound-feet. A turbocharged version of this engine with 150 horses was available on the Skyhawk T-Type. Buick was proud of both the overhead cam and the electronic fuel injection in this car, applying these badges to brag a bit. You'd have thought that a buyer sacrificing torque for a better-breathing engine would have selected a manual transmission, but such was not the case with this car. The three-speed TH125 slushbox cost $395, or about $1,179 after inflation. The cheapest '84 Skyhawk trim level was the Custom. The MSRP on this car was $7,345 ($21,922 now) before options. Its Chevy Cavalier sibling started at $6,214 ($18,546 today), while its Pontiac 2000 Sunbird and Olds Firenza counterparts were $6,791 and $7,293, respectively ($20,268 and $21,766 in 2023 dollars). Meanwhile, the King of J-Bodies, the Cadillac Cimarron, listed at $12,605 ($37,620 today) in 1984. That $7,345 sticker price didn't include plenty of features we now take for granted in new cars. If you wanted air conditioning in your new Skyhawk, as nearly every Buick buyer in 1984 did, the cost was $630 ($1,880 after inflation).

2019 Buick Regal TourX sells better than expected, has brand's wealthiest buyers

Being a wagon fan in America is tough, since it seems everyone prefers the higher ride heights and SUV looks of crossovers. But today we have some good news for wagon fans via Buick. Apparently the 2019 Buick Regal TourX is popular with well-heeled buyers, and it's been selling quite a bit better than Buick expected. A representative from Buick revealed that Regal TourX buyers have the highest average income of any of the brand's products. He even noted that TourX buyers' average income is higher than the Buick Enclave Avenir, the extra-plush variant of the three-row crossover and the most expensive vehicle in Buick's lineup. To put the price difference into perspective, the most expensive Regal TourX starts at $35,995, while the Enclave Avenir starts at $54,695. Besides selling to people of some means, the Regal TourX has proven to be more popular than Buick expected. Buick's representative said that initial estimates were that the wagon would make up about 25% of sales, but it's actually making up about 40% right now. Buick has sold 3,408 Regals in total this year, so that means about 1,400 of them were TourX wagons. That number doesn't quite translate over all of 2018 since the TourX was released a little later and the supply was still ramping up through the year. As such sales were closer to 3,000 out of a little over 14,000 for the whole year, or somewhere above 20%. But the increased percentage from the model's release is still impressive. Granted, sales still favor crossovers. Buick's least popular crossover, the Envision, sold about twice as many units as all Regals last quarter. Yet, we count this as good news on the wagon front. Better still, the TourX's top rival, the Subaru Outback, has moved 76,000 units so far this year. Times may be tough for the wagon fan, but there are still some small wins to celebrate. UPDATE: The estimate of Regal TourX numbers for 2018 was higher than actual sales as the TourX was launched later than all Regal models, and the supply wasn't up to full steam for the whole year. The corrected number is now in the text. Related Video: