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Cadillac expects major growth in China

The US sales issues facing Cadillac are not being paralleled in the People's Republic of China, as a new report from Automotive News indicates the US luxury maker should see its sales increase by as much as 40 percent.
The report cites Cadillac's own forecasts, which put its 2014 sales in the PRC at 70,000 units after cresting 45,000 vehicles at the end of August. Provided the sales pace holds true through 2015, the brand would hit its new 100,000-unit sales goal, AN reports.
"We're very optimistic about the luxury market, we believe that the luxury market by 2016 here will become the largest luxury market in the world, surpassing even the size of luxury in Europe," GM China President Matthew Tsien told AN. "With [Cadillac president] Johan [de Nysschen], we have somebody that really is an executive that understands luxury, but he also is very, very keen on understanding what do we need here in China for Cadillac to be successful."

Cadillac Lyriq EV unveiled as brand's first electric vehicle

Your author has already seen it, back in March, and has had to wait until today to show you the new Cadillac Lyriq electric luxury crossover. We were excited about it then, we're still excited about it now, but we'll see if we can maintain that excitement for another two years. After some fanfare, a delay, a name explanation and a bit of teasing, Cadillac has finally taken the wraps off the Lyriq, and we like what we see. The bad news — weÂ’ll get it out of the way right now — is that the Cadillac Lyriq wonÂ’t go on sale until late 2022. Moving on, letÂ’s bask in the photos and video weÂ’ve long awaited, and dig into what we know about the first all-electric Cadillac. First, it will come in two drivetrain configurations: rear-wheel drive and performance all-wheel drive. ItÂ’ll use GMÂ’s new Ultium modular battery technology, giving it a driving range targeting north of 300 miles, plus a center of gravity about 3.9 inches lower than that of the similarly sized Cadillac XT5. It will be capable of "over" 150-kilowatt DC fast charging, with a Level 2 charging rate of up to 19 kW. Cadillac Lyriq View 8 Photos In terms of styling, the Lyriq is a substantial move forward both inside and out — and a lot of it has to do with lighting. On the outside, it gets vertical headlights, plus a bunch of little light-up elements in the grille, include a logo that is animated on startup. In fact, the face will light up as you approach, not unlike a dog seeing its best friend ready to play. We see some more nifty lighting signatures in back that carry on a similar theme with more vertical lights. Inside, the lighting situation gets even more interesting, with another light-up crest on the steering wheel, plus wood veneer over aluminum door panels, all backlit. As for its stance, the Lyriq has a long wheelbase, and rides on 22-inch wheels. At the back, we see a slick vented spoiler hanging over the raked rear glass. The side doors of the Lyriq automatically open with the touch of a button in door handle outlines that are flush with the body. Similarly, they close automatically, slowing down at the end to pull the doors fully shut. We wouldn't be surprised if this doesn't make it to production. Moving around the interior, the curved, 33-inch combination digital driver display and infotainment screen sprawls across the dash. It uses advanced LED technology, and is capable of displaying over a billion colors, according to Cadillac.

General Motors posts record earnings, but global sales fall

General Motors started the year with record success. The automaker's $2.7 billion in adjusted earnings before interest and taxes was its highest ever in in the first quarter of 2016, up from $2.1 billion in from the same time period a year earlier. Net income grew to $1.95 billion, which was more than double the $953 million in the same period last year. The company's figures also beat analysts' predictions, according to the Detroit Free Press. Despite the financial growth, global sales actually decreased by 2.5 percent to 2.36 million vehicles. "We're growing where it counts, gaining retail share in the US, outpacing the industry in Europe and capitalizing on robust growth in SUV and luxury segments in China," CEO Mary Barra said in the company's financial announcement. GM did well in North America with an adjusted EBIT of $2.3 billion, up from $2.2 billion last year. Sales in the region also grew 1.2 percent to 800,000 vehicles. According to The Detroit Free Press, the company has been especially successful at selling more expensive models in the US. The company's average vehicle was $34,600 in Q1, about $3,000 more than the industry average. Elsewhere in the world, GM also showed improvement. Europe practically broke even after losing about $200 million last year, and Opel and Vauxhall sales grew 8.4 percent to more than 300,000 vehicles for the quarter. South America only lost $100 million, which was half as much as Q1 2015's $200 million loss. China remained flat at $500 million of income. Cadillac volume jumped 6.1 percent there, and Buick's deliveries increased 22 percent, thanks to the Envision crossover's success. GM Reports First-Quarter Net Income of $2.0 Billion 2016-04-21 EPS diluted of $1.24; First-quarter record EPS diluted-adjusted of $1.26 First-quarter record EBIT-adjusted of $2.7 billion GM Europe posts break-even performance DETROIT – General Motors Co. (NYSE: GM) today announced first-quarter net income to common stockholders of $2.0 billion or $1.24 per diluted share, compared to $0.9 billion or $0.56 per diluted share a year ago. Earnings per share diluted-adjusted for special items was a first-quarter record at $1.26, up 47 percent compared to the first quarter of 2015. The company set first-quarter records for earnings and margin, with earnings before interest and tax (EBIT) adjusted of $2.7 billion and EBIT-adjusted margin of 7.1 percent.