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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

Buick Enclave spy photos reveal curvy, minimal interior

We got a pretty good look at the next-generation Buick Enclave last month via some spy photos, and this month we get a peek inside. While the exterior takes after the Wildcat concept, the interior follows in the path set by the recently redesigned and launched Encore GX and Envista. The focal point of the new Enclave's interior is the curved screen panel encompassing both the instrumentation and the infotainment. It has the rounded, inverted trapezoid look of the little Buicks, but from the gap in the screen covers, it looks like the screens will fill up the housing much better on those base crossovers. Just below the infotainment side of the screen array is a minimalist set of climate control buttons (piano key style) and a pair of air vents. It's difficult to tell much else of the dash due to the coverings. Based on the little Buicks, the screen probably sits on a small alcove with the rest of the dash being smoother and wrapping around behind the screen. The steering wheel isn't shared with the smaller Buicks, nor does it appear to be that similar to what we've seen in either the new Chevy Traverse or the GMC Acadia. It has a sleek, simple three-spoke design with a small circular center horn and airbag section. We also noticed the black plastic strip at the top of the wheel that likely houses the lighting and infrared sensors that go along with GM's Super Cruise hands-free highway driving assist. We're expecting the Enclave to be revealed soon, possibly early next year, with deliveries coming soon after. This is because this prototype looks pretty much production-ready, and we've already seen its cousins from Chevy and GMC. It will likely get the same turbocharged 2.5-liter four-cylinder making 328 horsepower and 326 pound-feet of torque with an eight-speed automatic and either front- or all-wheel drive. Related video:

OnStar RemoteLink mobile app coming standard on all new GM vehicles

As an evolution and improvement of its OnStar technology, General Motors has announced that it will be expanding the RemoteLink Mobile App on most 2014 model year Chevrolet, Buick, GMC and Cadillac vehicles. The new, aptly named RemoteLink Key Fob Services will allow users to remotely operate all of the same systems as the car's key fob, including locking and unlocking the doors and remote starting (on vehicles equipped with a factory remote starter) using a smartphone.
These Key Fob Services will be free for five years - starting from the vehicle's delivery date - but the full suite of RemoteLink features will continue to be offered only with a subscription (trial or paid). These premium features include contacting a live adviser, getting turn-by-turn directions and remotely monitoring the vehicle's diagnostic systems.
Scroll down below for the complete press release with all the details.