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GM invests $175 million to replace 3 Cadillac sedans with 2

We've already had confirmation that Cadillac is sunsetting the ATS compact sedan and strong hints that Caddy would discontinue the full-size XTS (pictured above) and midsize CTS, too. Now all three are confirmed, with GM saying it's investing $175 million to build two replacement sedans. GM has already begun installing new tooling at its Lansing Grand River assembly plant in Michigan. That will go toward building two new sedans, which reports suggest are likely to be called the Cadillac CT5 and CT4, or possibly the CT3. It's part of Cadillac's plan to introduce a new vehicle every six months by the end of 2021. A spokesman told the Associated Press that the new cars will debut within that time frame and that the changes won't affect staffing levels at the plant, which employs 2,000 people. Of the three, the XTS is expected to go away entirely, while the CT5 would replace the CTS, straddling the line between a compact and midsize four-door. The CT4 or CT3 would take the spot of the ATS and likely be smaller. That would leave the CT6 as the brand's largest sedan and leave Cadillac with three sedans starting with the 2019 model year. Meanwhile, Cadillac has only one model, its top-selling XT5, representing the all-important and red-hot luxury crossover segment. It's prepping a midsize XT4 crossover for sale later this year as a 2019 model. Cadillac's global sales rose 15.5 percent in 2017, thanks largely to growth in China, but sales in the U.S. fell 8 percent for the year to 156,440 vehicles. Sales of the ATS fell 39 percent, dropped 35 percent for the CTS and 27 for the XTS last year. Related Video:

2020 Cadillac XT5 is barely being refreshed

Cadillac has been making a serious effort to expand its crossover offerings with the all-new XT4 and XT6. With them has come slight changes to Cadillac's design language, leaving the existing XT5 looking a little out of the loop. Well, it appears that's about to change ... sort of. One of our spy photographers caught a 2020 Cadillac XT5 out testing, and it has some changes that suggest a refresh. You do have to look closely to tell anything has changed, though. And even then, the only noticeable change is to the grille, which is now dotted with little quadrilateral shapes similar to those on XT4 and CT5. You can see one of the two current designs below. Otherwise, the bumpers and lights haven't been changed at all. View 21 Photos We suspect there will be other small changes in store for the crossover. It could switch from an eight-speed transmission to a nine-speed unit like the one the XT6 will use. This would be likely considering they both use the same V6 engine. We wouldn't rule out adding an optional turbo four-cylinder engine borrowed from the XT4, but that would be a fairly significant and less likely change. The interior could see some updates, and Cadillac could possibly try to shoehorn in its new infotainment system from the new batch of cars. Then again, changes could simply be limited to new materials and some extra features. With such a light update, we expect the updated 2020 XT5 will make its debut sometime this year with sales coming shortly after.

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