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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.

2021 Buick Envision order guide shows $32,995 base price

Based on an early dealer guide Cars Direct got its hands on, the 2021 Buick Envision will bring more to the market than handsome new design inside and out. The 2020 Envision in 1SV and Preferred trims starts at $33,500 plus a $1,195 destination charge, totaling $34,695. The dealer guide shows the 2021 Envision Preferred starting at $32,995 after destination, a $1,700 cut compared to this year's model. The 1SV was also listed in the guide but didn't get a price. A Buick spokesperson confirmed to Cars Direct that the Preferred trim will be the new entry-level, so it appears the 1SV could go away. The two trims are equipped the same as standard, the difference being that Preferred opens up the options menu to features like the Active Package and a powered panoramic moonroof. That pricing puts the 2021 Envision thousands of dollars under of its luxury competitors like the Acura RDX, Audi Q5, Lexus NX, and Lincoln Corsair. The price of the middle Essence trim doesn't change, at $36,995 after destination.   The current Premium trim will be replaced by the Avenir trim. At present, the Premium trim only comes in all-wheel drive, which Buick has changed for the 2021 model year. A 2021 Envision Avenir with front-wheel drive will start at $41,395, which is $500 less than a 2020 Envision Premium with all-wheel drive. Adding power to the rear axle adds $1,800 to the price, the Envision Avenir AWD the most expensive model at $43,195. That's a $1,600 cut compared to the 2020 Envision Premium AWD. The only engine on offer will be a 2.0-liter turbocharged four-cylinder with 230 horsepower and 258 pound-feet of torque, the same engine in the 2021 Envision's E2 platform-mate, the Cadillac XT4. That output falls between the two engines that can be had on the 2020 Envision, either the base 2.5-liter four with 197 hp and 192 lb-ft, or an optional 2.0-liter turbo four with 252 hp and 295 lb-ft.  Related Video:

Junkyard Gem: 1962 Buick Electra 225 4-Door Sedan

Buick built its first Electras as 1959 models, with Electra production continuing unabated through 1990 (after which the Park Avenue trim level took over as the model name, much as the Malibu trim level designation had shoved aside the Chevelle model name in 1978). Some of the handsomest Electras were the second-generation models, built for the 1961-1964 model years, and today's Junkyard Gem is one of those cars. I'd always assumed that the Buick Electra took its name from the daughter of Clytemnestra and Agamemnon in Greek mythology, because the people who named cars back then were forced to read Euripides and Sophocles as undergrads. In fact, the car was named after Electra Waggoner Bowman Biggs, a Texas heiress and sculptor who married the brother-in-law of Harlow Curtice, who ran the Buick Division before being promoted to president of General Motors in 1953. How did she feel when the last Electra rolled off the assembly line in 1990? The junkyard is full of history, if you know where to look. The 1959-1960 Electra had enormous tailfins, angled something like the ones seen on the same-year Chevrolet Impalas. This Electra generation ditched the fins but kept much of the general Space Age spirit of its predecessor. The Electra lived on the same platform as the Cadillac DeVille and Oldsmobile 98 from start to finish, and it was the most expensive Buick available in 1962. The MSRP of this one was $4,051, or about $41,462 in 2023 dollars. The engine in this one was present when it arrived at U-Pull-&-Pay, but a junkyard shopper grabbed it within a couple of days of arrival. It would have been a 401-cubic-inch (6.5-liter) "Nailhead" V8, rated at 325 horsepower and a whopping 445 pound-feet of torque (keep in mind that these are gross, not net, power numbers). The Nailhead's small valves meant that it wasn't much good for high-rpm use, but its big torque was perfect for moving two-ton land yachts. The final Nailheads were installed in 1966 Buicks. Every production Electra ever built came with an automatic transmission, and the 1959-1963 models received the extremely smooth and alarmingly inefficient Dynaflow (known as the Dual-Path Turbine Drive for 1962). Originally developed for use in the 1943 M18 Hellcat tank destroyer, the Dynaflow was considered a two-speed automatic but drove more like a CVT with two selectable drive ranges.