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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

GM Super Cruise beats Tesla Autopilot again in latest hands-free test

DETROIT — General Motors' Super Cruise once again edged Tesla's Autopilot in an evaluation of 17 vehicles equipped with active driving assistance systems (ADAS) by Consumer Reports, the testing organization said on Wednesday. A Tesla Model Y fitted with Autopilot finished "a distant second," the group said, to a Cadillac CT6 equipped with Super Cruise, which GM is rolling out to more than 20 vehicles — including its new Hummer electric pickup truck — over the next three years. Safety and insurance researchers have frequently warned of the risks of consumers overestimating ADAS systems' abilities, a misconception increased by some automakers calling their products Autopilot, ProPilot or Co-Pilot. In 2018, the Cadillac CT6 with Super Cruise scored higher than a Tesla Model 3 with Autopilot, in a Consumer Reports test of just four vehicles equipped with ADAS. In the latest test, conducted this summer on a track and on public roads, the Cadillac scored 69 points out of a possible 100, while the Tesla scored 57. A Lincoln Corsair equipped with Ford's Co-Pilot 360 system, finished third with 52. The critical difference in the Super Cruise system is a driver-facing infrared camera to make sure he or she is paying attention to the road and is ready to take over manual control when necessary, said Kelly Funkhouser, head of connected and automated vehicle testing at Consumer Reports. The group noted that Autopilot can shut off abruptly in some situations, while Super Cruise did a better job of notifying the driver when the system is disengaging. In recent European safety testing, a Tesla Model 3 with Autopilot placed sixth out of 10 systems, getting high marks for performance and ability to respond to emergencies, but falling short on its ability to maintain a driverÂ’s focus on the road. Related Video: Green Cadillac GM Hummer Tesla Safety Technology Autonomous Vehicles Electric Super Cruise

2019 Autoblog Technology of the Year finalists revealed

Every fall, we line up a range of new models with the latest and most compelling automotive technology from the past year. We test everything from semi-autonomous systems like Tesla's Autopilot to trick suspension setups like the Multimatic spool-valve shocks on the Chevy Colorado ZR2. We spend months paring down the list to a small group of contenders. After testing, dinner and healthy debate, we tally up the votes and name our winner. For Autoblog's 2019 Technology of the Year Award, our three finalists are the Cadillac CT6 with Super Cruise, the Infiniti QX50 with Variable Compression Turbo and the Mercedes-AMG E 53 with EQ Boost. Super Cruise is an advanced SAE Level 2 semi-autonomous system, though Cadillac (unlike some of its rivals) is reluctant to push that point. Cadillac would like you to think of this as an advanced driver assistance feature rather than a semi-autonomous system. Super Cruise allows completely hands-free highway driving. Thanks to a driver-facing camera, the system forces the driver to keep his or her eyes on the road even if hands are off the wheel. Although the CT6 is being discontinued, look for Super Cruise to make its way to other Cadillacs soon. VC Turbo is a little more complicated. Basically, Infiniti's 2.0-liter turbocharged inline-four can vary the compression ratio on the fly. In general, turbocharged engines are more efficient than naturally-aspirated engines when on boost, but can perform worse at low revs. VC Turbo allows for a best-of-both-worlds situation, increasing the compression at low revs and backing it off once the turbo spools up. The best part is that it does so seamlessly, with only a dash readout letting you know what's going on under the hood. Our third finalist is the EQ Boost 48-volt system in the Mercedes-AMG E 53. Like VC Turbo, EQ Boost does a lot just beneath the surface. Mercedes has developed a new turbocharged 3.0-liter inline-six and paired it with a small electric motor. While the car can't run on electricity alone, the motor helps improve both efficiency and performance, smoothing shifts and filling in low-end torque before the turbos spool up. Think torque fill, similar to a McLaren P1. Who can complain about better fuel economy and more torque? Look for the 48-volt system to make its way into most of the Mercedes-Benz lineup. The winner will be revealed next week on Autoblog, and we'll present the award Jan. 15 at the Detroit Auto Show. Related Video: