1971 Buick Skylark Custom Convertible Gs Gsx Clone Chevelle 442 Cutlass Conv Amc on 2040-cars

Auto blog

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 Encore production increased to lift supply by 50%

Trying to zero in on the Buick Encore leads us to the conclusion that the only place it really fits is in buyers' driveways. Every member of its so-called competitive set – we've read everything from the Ford C-Max to the Nissan Juke to the Volkswagen Tiguan to the BMW X1 – is so different in small yet fundamental ways that the Encore neatly slinks between them all, and with 48,892 sales in 2014, it doesn't stop slinking until it reaches consumer garages. That success, and preparation for the aggrandizing of the compact CUV segment, is why General Motors is upping production for the US market by 50 percent. Analysts keep predicting there will be more shoppers for tiny crossovers, and that's why those that don't have them are getting them. Yet the Encore came out in 2013 before people realized the power of the segment, and it has substantially out-performed GM and observer expectations: analysts predicted 18,500 US sales in 2013 and 25,000 in 2015; in 2013 we wrote, "We admit it. We have no earthly idea how this whole thing is going to shake out." It shook out 31,046 sales in 2013, puffing that number up by more than 50 percent last year. GM thinks that this year it will it will go from Buick's third-best-selling vehicle to its best-selling vehicle. GM wants that to continue, what with the Honda HR-V, Jeep Renegade, and Mazda CX-3 on the way. Dealers say they'd sell more if they could get them, and the four-month lead time at the moment between a dealer ordering and taking delivery – about double the normal time – creates a handicap. Plants in Mexico, Korea, and Spain will hive off production to bolster US inventory to keep the "downsizing empty nesters" who love it, happy. Seeing as the coming competition is falls meaningfully outside the Buick's combination of traits, there's a chance its popular tale can continue.

China-market Buick Electra E5 meets the world

We now know the Buick Envista crossover is on the way to the U.S. market after its recent debut in China. The Chinese Ministry of Industry and Information Technology has previewed another Buick crossover that will eventually get here, the release spotted by Car News China. The battery-electric Electra E5 was outed as part of the ministry process of opening up a public comment for new market entries. This is the Buick-branded Ultium-based EV that inaugurates a new electric era for GM brands over there, the E5 landing in the middle of the consecutive E1 to E9 trademarks Buick reserved a few years ago. The five-seat crossover's dimensions have been given as 192.6 inches long, 75 inches wide, and 66.2 inches tall, on a wheelbase 116.3 inches long. That size puts it on the same wheelbase as the coming 2024 Chevrolet Equinox EV, with a length about two inches longer. The base wheels measure 18 inches, the options list offers 20-inch units. The battery pack is sourced from a joint venture between CATL and SAIC, the latter being GM's joint venture partner in China. The automaker said it's "tailored for China" but we don't know what that means, nor do we know the capacity. Thanks to the MIIT information, we do know the E5 weighs 5,666 pounds and in this initial form will be powered by one 241-horsepower motor that can achieve a top speed to 112 miles per hour.  Spy photographers caught an Electra SUV clad in camo doing the rounds in Michigan earlier this month with all the same design cues seen on the Chinese model — narrow headlights and taillights, three-piece high brake light on the hatch spoiler, and the same wheels. Although we could be wrong, we'd bet a fair bit of money our Electra will come with more than 241 horsepower, though. Even our compact Buick Envision gets 228 hp, and it weighs almost 2,000 pounds less than the China-market Electra E5.   The same over there as here, the E5 represents Buick's first proper move toward the all-electric lineup scheduled to be completed by 2030. In China, it will mean the sunset of current EV offerings like the Buick Velite 6 MAV wagon-like vehicle, and the Chevy-Bolt-based Velite 7. Car News China said neither sell well, calling the Velite 6 "a bit of an oddball," and the 7 a little small for the Chinese market. Younger, tech-happy buyers will be lured with the first strokes of SAIC's Smart Cockpit and GM's Super Cruise. Deliveries should commence at the beginning of next year in China, the E5's arrival in the U.S.