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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 Enspire EV crossover concept claims 370 miles of range

For the Beijing Auto Show, Buick is showing yet another crossover, this one in concept form. It's called the Buick Enspire, and unlike the rest of the brand's crossovers, this one is all electric. It's more than just a repurposed Bolt EV, too. Instead of the Bolt's 150 kW and 200-horsepower motor, the Buick has a 410 kW motor, which equates to 550 horsepower. Buick claims the motor will get the crossover to 60 mph in just 4 seconds. The Enspire isn't all about performance, though. It would also have a very healthy claimed range of 370 miles, topping that of the longest-range Tesla. Fast charging is supported, with Buick saying it can recover 80 percent of its charge within 40 minutes, though the company doesn't say how potent the charger used for that number is. It also apparently has support for wireless charging. This Enspire concept is rather pleasant looking, too. It has smooth, elegant curves draped on a body with a very wide, aggressive stance. The grille is an interesting evolution of Buick's current design, exaggerating the current crossbar into large wings that spread into the lights, and trading the vertical slats of the main grille for a solid illuminated insert. The rear taillights are also distinctive in how they comprise one long, slender line that form a pseudo spoiler in the rear hatch. The interior is plenty swoopy, too, with a number of futuristic touches. It has an OLED touchscreen for infotainment, and the windshield features augmented reality capabilities displaying road information and navigation routes. Luxury touches include real wood arm rests and center console. Whether we'll see a production Buick with the capabilities of the Enspire is anyone's guess. Surely to have that level of power and range would make it immensely expensive, similar to or surpassing the Tesla Model S and the Jaguar I-Pace. That would be rarefied air for Buick. But we wouldn't be surprised to see either an all-new crossover, or a redesigned current model, sporting the designs seen on this concept. And many of the cues will likely spill over to other Buick products. And while the performance seen in this concept might not reach production, we also wouldn't rule out an electric Buick of some sort, probably a crossover in the near future. General Motors has made it very clear it's going to push electric vehicle development, and a Buick crossover would be a good choice for a few reasons.

2017 Buick LaCrosse priced at $32,990

Buick has announced the starting price for its totally redesigned LaCrosse sedan, and it's looking competitive. According to the company's consumer website, the base trim will start at $32,990, while the vehicle featured on the page is helpfully listed as "As Shown: $45,560." Buick is being coy about the standard equipment list, but we do know a few traditionally higher-end options will be free of charge, including an eight-inch touchscreen that's compatible with Android Auto and Apple CarPlay, and HID headlamps. General Motors' 4G LTE wifi is a no-cost feature (although you'll need to shell out for a data plan, eventually). The optional extras list, which will include goodies like adaptive cruise control, hasn't been published yet. Underhood, all LaCrosse models will get eight-speed automatic transmissions paired with 305-horsepower, 3.6-liter V6 engines. The new powertrain, plucked from the Cadillac XT5, has stop-start and cylinder deactivation as standard to save fuel, although it's still too early to predict where the LaCrosse will fall on the EPA scale. Front-wheel drive is standard, but all-wheel drive will be available for a unknown premium. Buick says the sedan's reasonable starting price backs the company's "position of attainable luxury." And that's true. At $32,990 the LaCrosse is $560 less than the $33,550 base Toyota Avalon, $355 less than the $33,345 Nissan Maxima S, and $850 less than the $33,840 Kia Cadenza. Only the antiquated Ford Taurus, at $27,985, can undercut it. On the opposite end, the LaCrosse is $6,945 less than a front-drive Lincoln MKS and $6,060 less than a Lexus ES. Starting prices are useful tools for comparison but they only go so far – we'll have to wait until next month, when full details are released, to see how truly reasonable the LaCrosse's price is.