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Cadillac, Daimler execs take swipes at Tesla

Despite the financial ties between Daimler and Tesla Motors, at least one Mercedes exec thinks the electric automaker doesn't have a bright future. And over at Cadillac, the message is that Tesla doesn't pose a threat but offers the luxury arm of General Motors more of classroom experience. The Mercedes story runs like this. Mercedes-Benz USA president and CEO, Steve Cannon, said at the New York Auto Show last week that Tesla has "no network" and only offers "little shops that don't have service capacity." He also said: "Folks are buying a Tesla now because they're kind of cool, but if you're a Tesla buyer, you have to have multiple cars. With Mercedes, you have a whole network. You've got no worries. ... Tesla is great, but you've got plenty of well-established brands that mean luxury, like Porsche or Mercedes-Benz, and how long do you think we're going to wait and let Tesla be out there alone [selling premium electric cars]?" "Treehuggers do not buy new luxury cars" – Uwe Ellinghaus For Cadillac's global chief marketing officer, Uwe Ellinghaus, Tesla's EV success represents little other than "a great opportunity and a learning exercise for all of us, and will help us traditional manufacturers to think twice about electric mobility." He added that, "I am not afraid of Tesla. ... There is no willingness to really sacrifice on the traditional qualities of a luxury car. These are not cars for treehuggers, as treehuggers do not buy new luxury cars." Ellinghaus made the comments during a panel discussion at the 2014 Automotive Forum. Perhaps the lesson of Tesla's offer of free Supercharging to Model S owners is what led to Cadillac to recently announce a deal with Chargepoint that gives ELR drivers access to that company's 16,500 charging stations. Read more details on that below. Cadillac and ChargePoint Bring EV Customer Luxury Driving Experience World's largest, most open electric vehicle charging network available to ELR drivers 2014-04-16 NEW YORK – Cadillac today announced a partnership with ChargePoint, the largest and most open electric vehicle-charging network in the world. The collaboration brings Cadillac ELR drivers immediate access to more than 16,500 charging locations on the ChargePoint network. The ELR electrified luxury coupe went on sale at the end of 2013. It embodies Cadillac's Art & Science design philosophy, combining provocative design with progressive technology.

Cadillac prices 410-hp XTS Vsport from $63,020*

Cadillac has officially released pricing for the 2014 XTS Vsport. Buyers can expect to pay $63,020 for the fleet four-door, including destination and handling fees. That kind of coin will snag you a twin-turbocharged 3.6-liter V6 good for 410 horsepower and 369 pound-feet of torque. As you likely already know, engineers have done a lot more than simply bolt a pair of turbos onto the company's tried and true naturally aspirated 3.6-liter V6. The engine uses an all-new block, strengthened connecting rods and domed aluminum pistons and is fed through a revised direct-injection fuel system. Combined, the tweaks allow the V6 to suck down 12 psi of boost.
The price tag puts the 2014 Cadillac XTS Vsport well under potential (if ambitious) competitors like the Audi S6 at $71,900, plus destination fees. A base BMW 550i will set you back $62,700, excluding destination charges, but throwing options at the German sedan will quickly see that number climb higher. You can check out the full press release below for more information.

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