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GM sees 'strong year' in 2018, then gold in Chevy Silverado for 2019

DETROIT — General Motors said on Tuesday it expects earnings in 2018 to be largely flat compared with 2017, but that profits should pick up pace in 2019 as its revamped line of high-margin pickup trucks hits the U.S. market. The 2018 earnings outlook was above market expectations, sending GM shares up more than 3 percent in premarket trading. "GM had a very good 2017 as we continued to transform our company to be more focused, resilient and profitable," GM Chief Executive Mary Barra said in a statement. "We are positioned for another strong year in 2018 and an even better one in 2019." GM and its Detroit rivals, Ford and Fiat Chrysler Automobiles, are bringing on new trucks at a time when overall U.S. new vehicle sales have been falling, but truck sales continue to grow as consumers abandon passenger cars in favor of pickups, SUVs and crossovers. GM on Saturday fired a new round in the battle for profits from one of the U.S. auto industry's most lucrative segments when it showed a new generation of its Chevrolet Silverado pickup truck at the Detroit auto show. The new Silverado, a highlight of the event, is the successor to GM's best-selling vehicle in North America. Sales of the current Silverado rose nearly 2 percent to 585,000 vehicles in 2017. In the coming months, the company will also reveal a revamped GMC Sierra pickup truck. U.S. new vehicle sales fell 2 percent in 2017 after hitting a record high in 2016, and are expected to drop further in 2018 as interest rates rise and more late-model used cars return to dealer lots to compete with new ones. GM said on Tuesday that while it retools a factory in Ft. Wayne, Indiana, to make the new pickup trucks, it will shift some production to an Oshawa, Ontario, plant in order to avoid missing sales in a hot market for the vehicles. The No. 1 U.S. automaker said it will record a $7 billion non-cash charge for its fourth-quarter 2017 earnings related to deferred tax assets. GM said it expects capital expenditure in 2018 of around $8.5 billion, about $1 billion of which will go toward funding self-driving car technology. Last week, the company said it is seeking U.S. government approval for a fully autonomous car — one without a steering wheel, brake pedal or accelerator pedal — to enter the automaker's first commercial ride-sharing fleet in 2019. GM said it expects 2017 earnings per share at the high end of its previously forecast range of $6 to $6.50.

Texas sues GM, saying it tricked customers into sharing driving data sold to insurers

Texas filed a lawsuit Tuesday against GM over years of alleged abuse of customers' data and trust. New car owners were presented with a "confusing and highly misleading" process that was implied to be for their safety, but "was no more than a deceptively designed sales flow" that surrendered their data for GM to sell. The suit contends that at no point was selling driving data ever even suggested as a possibility, putting GM in violation of the state's consumer protection laws. Texas Attorney General Ken Paxton is seeking a jury trial and at least $10,000 per offense (every GM car sold in the state since 2015) and a hefty add-on of $250,000 in cases where the victim was over 65. Texas seems to be flying high after a recent $1.4 billion settlement from Meta over other privacy concerns. This may well be a way to solve any pending budgetary issues in the Lone Star State.

2013 Buick Encore

Ignored On Arrival, But Coming On Strong
An image exists out there that perfectly conveys the fate we thought would befall the Buick Encore after its world debut at the 2012 Detroit Auto Show. The shot shows the just-unveiled Encore on stage, basking in the glow of spotlights but surrounded by a large display area that's bereft of both cars and people. Two journalists are sitting on a couch over to the side, both facing the Encore but ignoring it as they inspect their swag, and a solitary custodial engineer pushes a vacuum back and forth across a sea of gray carpet.
Like a kid with his birthday cake at a party no one came to, this little crossover's debut was largely, almost cruelly, ignored. Who can blame us, though? Two shows ago, the Motor City's main stage welcomed the redesigned Aston Martin-esque Ford Fusion, the 3 Series-assassin ATS from Cadillac and the return of Dodge to the small car game with the Dart. A fourth model for the wayward Buick brand, especially one so arguably un-Buick in form and function, did not seem to deserve the attention paid to its peers that year.