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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

Cadillac teases two new V-Series prototypes at the Detroit Grand Prix

We told you earlier this week that there would be more to come from Cadillac's V-Series of performance vehicles following the introduction of the brand's CT4-V and CT5-V performance sedans. We just didn't expect it to come quite so soon. Cadillac surprised attendees of the 2019 Detroit Grand Prix as two new prototypes took to the track for what we figure must have been demonstration laps in between other official race events. A CT4-based machine wearing funky blue camouflage joined a red-hued CT5-based prototype on the track, with driving duties split between Mark Reuss, president of General Motors, and Ken Morris, vice president of Product. Cadillac CT4 V-Series prototype View 3 Photos Exactly what's powering these prototypes is still a mystery, but we have our suspicions that these two beasts are putting down a lot more power than the 320-horsepower CT4-V and 355-hp CT5-V that underwhelmed enthusiasts earlier this week. We wouldn't be surprised if there was a version of Cadillac's twin-turbo Blackwing V8 engine under the hood of this V-badged CT5 prototype. Cadillac is being coy with further details, saying only that these two vehicles "represent the next step in Cadillac's V-Series performance legacy." So we'll just have to wait for now. But in the meantime, feel free to peruse the images above and speculate in the comments below.

2022 Cadillac CT5 Review | An athlete in a fine suit

The Cadillac CT5‘s mission is to compete on equal footing with the sport sedans built by the German trio of Audi, BMW and Mercedes-Benz along with Japanese brands Acura, Infiniti and Lexus. But the times, they are a-changing. The sedan no longer represents the pinnacle of automotive luxury and internal-combustion powertrains are nearing their sunset. The 2022 Cadillac CT5 (along with its smaller sibling, the CT4) represents the end of the line for CadillacÂ’s gas-burning four-doors. Fortunately, itÂ’s a compelling ambassador for the segment (especially when at its most invigorating: the 2022 CT5-V Blackwing). The CT5 is larger than its price point suggests. For the money, youÂ’d be looking at a BMW 3 Series or Mercedes-Benz C-Class, but itÂ’s closer in size to the 5 Series and E-Class , albeit with less interior room (especially for cargo). The CT5 drives quite well and is stylish and well equipped. Its price-to-size ratio also gives it a unique proposition to attract buyers away from the Europeans – not to mention the availability of an all-American, supercharged V8. Interior & Technology   |   Passenger & Cargo Space   |   Performance & Fuel Economy What it's like to drive   |   Pricing & Features   |   Crash Ratings & Safety Features What's new for 2022? The big news for 2022 is the introduction of the CT5-V Blackwing, CadillacÂ’s new replacement for its former top dog, the CTS-V. With 668 horsepower and an available manual transmission, the Blackwing is pretty much the final word in American internal-combustion sport sedans. Finding one will be difficult, however, as they are virtually unavailable for test drives and some reports indicate that all of CadillacÂ’s 2022 model year allocations may already be spoken for. Elsewhere, Cadillac made some adjustments to the CT5Â’s color palette (sorry, green fans, you missed your chance, but orange is now an option) and available equipment, largely to compensate for supply shortages on the manufacturing side. Super Cruise packages will be available later in the model year. What are the CT5's interior and technology like? The Cadillac CT5 interior can best be described as “nice enough.” Unfortunately, "nice enough" isnÂ’t quite good enough to compare favorably with Audi, BMW, Mercedes-Benz or Volvo. We'd say it's not good enough to compare with cross-town rival Lincoln, either, but they don't sell sedans any more.