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GM earnings rise 1% as buyers pay more for popular pickups

DETROIT — General Motors said Thursday that higher prices for popular pickup trucks and SUVs helped overcome slowing global sales and profit rose by 1% in the second quarter. The Detroit automaker said it made $2.42 billion, or $1.66 per share, from April through June. Adjusting for restructuring costs, GM made $1.64 per share, blowing by analyst estimates of $1.44. Quarterly revenue fell 2% to $36.06 billion, but still beat estimates. Analysts polled by FactSet expected $35.97 billion. Global sales fell 6% to 1.94 million vehicles led by declines in North America and Asia Pacific, Middle East and Africa. The company says sales in China were weak, and it expects that to continue through the year. In the United States, customers paid an average of $41,461 for a GM vehicle during the quarter, an increase of 2.2%, as buyers went for loaded-out pickups and SUVs, according to the Edmunds.com auto pricing site. The U.S. is GM's most profitable market. Chief Financial Officer Dhivya Suryadevara said she expects the strong pricing to continue, especially as GM rolls out a diesel pickup and new heavy-duty trucks in the second half of the year. "We think the fundamentals do remain strong, especially in the truck market," she said, adding that strength in the overall economy and aging trucks now on the road should help keep the trend going. Light trucks accounted for 83.1% of GM's sales in the quarter, and pickup truck sales rose 8.5% as GM transitioned to new models of the Chevrolet Silverado and GMC Sierra, according to Edmunds, which provides content to The Associated Press. As usual, GM made most of its money in North America, reporting $3 billion in pretax earnings. International operations including China broke even, while the company spent $300 million on its GM Cruise automated vehicle unit. Its financial arm made $500 million in pretax income. Suryadevara said GM saw $700 million in savings during the quarter from restructuring actions announced late last year that included cutting about 8,000 white-collar workers through layoffs, buyouts and early retirements. The company also announced plans to close five North American factories, shedding another 6,000 jobs. About 3,000 factory workers in the U.S. whose jobs were eliminated at four plants will be placed at other factories, but they could have to relocate. GM expects the restructuring to generate $2 billion to $2.5 billion in annual cost savings by the end of this year.

Cadillac ATS Crimson Sport Edition is here for a limited run

The Cadillac ATS has been a well-received entry into the small sport sedan segment for General Motors' premium brand, but keeping the model fresh is an understandably high priority. A two-door coupe variant is on the way and should help keep interest up, but the line's volume leader is still expected to be the sedan. In order to keep awareness high and sales going, GM will need to lavish a little attention on its four-door, as well. That's where the Crimson Sport Edition comes in.
Crimson Red Metallic paint is the exterior highlight for this special-edition Cadillac, while the interior is complemented with a number of microsuede touchpoints, including the heated steering wheel and shifter. To this point, the car's rich burgundy finish has only been offered on CTS-V Coupe and Sport Wagon models, and brand spokesperson Donny Nordlicht tells Autoblog that this is the first time that the company has offered a microsuede wheel with heat. Four interior trims are also available, although all have been seen previously.
The Crimson Sport will be limited to production this spring, and the trimmings can be added to either the 2.0T Performance or the V6 Premium specifications. Both rear- and all-wheel drive will be available, as well. Prices start at $46,010 for the turbocharged model and $51,010 for the V6 including destination fees, which represents a premium of $2,990 for the extra equipment.

2021 Cadillac Escalade will get next-gen Super Cruise with auto lane-change

Super Cruise is getting its first big update since it was originally launched on the 2018 CT6 sedan. As that large car fades away, this new version of Super Cruise will be coming online in the 2021 CT5, CT4 and … the 2021 Escalade! Yes, ladies and gents, Cadillac is finally applying its advanced driver assistant to the iconic Escalade. The biggest change to this version of Super Cruise is a new feature called “Lane Change on Demand.” When Super Cruise is engaged, the driver can tap the turn stalk, and the car will execute a hands-free lane change if itÂ’s safe to do so. This kind of lane-change functionality is similar to that offered by other manufacturers' systems (i.e. Mercedes-Benz, Tesla, BMW). However, like the rest of Super Cruise, the car is able to complete the task with the driverÂ’s hands completely off the steering wheel so long as the driver monitor can tell that youÂ’re paying attention. Further improvements abound. “This is our most extensive update weÂ’ve made to Super Cruise since its debut,” said Mario Maiorana, Super Cruise chief engineer. “We have made a number of improvements to make Super Cruise more intuitive, better performing and more accessible for our customers. In addition to the automated lane change functionality, weÂ’ve made improvements to the user interface and hands-free driving dynamics.” Cadillac says that it has gathered richer map information to make the lane change function possible and also to make turns and highway interchanges smoother. The software was also improved with the aim of gaining “better steering and speed control.” Cadillac also made the system easier to engage. It did this by allowing the operator to switch the Super Cruise system on, and then get the vehicle in a proper lane position — it automatically activates once the vehicle is positioned. Previously, the driver had to get the vehicle centered in the lane properly, and then you were allowed to switch the system on. The auto lane changing function operates similarly to other systems like it. When driving, you can either tap or fully depress the turn signal stalk. The car then looks for an acceptable opening in the indicated lane. Once found, the car begins its lane change. Within the gauge cluster, there are animations that keep the driver apprised of the lane change at all times. Once the vehicle has moved into the new lane, itÂ’ll shut the turn signal off and continue driving along.