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GM sees 'strong year' in 2018, then gold in Chevy Silverado for 2019

DETROIT — General Motors said on Tuesday it expects earnings in 2018 to be largely flat compared with 2017, but that profits should pick up pace in 2019 as its revamped line of high-margin pickup trucks hits the U.S. market. The 2018 earnings outlook was above market expectations, sending GM shares up more than 3 percent in premarket trading. "GM had a very good 2017 as we continued to transform our company to be more focused, resilient and profitable," GM Chief Executive Mary Barra said in a statement. "We are positioned for another strong year in 2018 and an even better one in 2019." GM and its Detroit rivals, Ford and Fiat Chrysler Automobiles, are bringing on new trucks at a time when overall U.S. new vehicle sales have been falling, but truck sales continue to grow as consumers abandon passenger cars in favor of pickups, SUVs and crossovers. GM on Saturday fired a new round in the battle for profits from one of the U.S. auto industry's most lucrative segments when it showed a new generation of its Chevrolet Silverado pickup truck at the Detroit auto show. The new Silverado, a highlight of the event, is the successor to GM's best-selling vehicle in North America. Sales of the current Silverado rose nearly 2 percent to 585,000 vehicles in 2017. In the coming months, the company will also reveal a revamped GMC Sierra pickup truck. U.S. new vehicle sales fell 2 percent in 2017 after hitting a record high in 2016, and are expected to drop further in 2018 as interest rates rise and more late-model used cars return to dealer lots to compete with new ones. GM said on Tuesday that while it retools a factory in Ft. Wayne, Indiana, to make the new pickup trucks, it will shift some production to an Oshawa, Ontario, plant in order to avoid missing sales in a hot market for the vehicles. The No. 1 U.S. automaker said it will record a $7 billion non-cash charge for its fourth-quarter 2017 earnings related to deferred tax assets. GM said it expects capital expenditure in 2018 of around $8.5 billion, about $1 billion of which will go toward funding self-driving car technology. Last week, the company said it is seeking U.S. government approval for a fully autonomous car — one without a steering wheel, brake pedal or accelerator pedal — to enter the automaker's first commercial ride-sharing fleet in 2019. GM said it expects 2017 earnings per share at the high end of its previously forecast range of $6 to $6.50.

GM's Reuss explains why Cadillac is heading to New York

"We're going to take it to a place [New York] to change the way that we do business around the brand of Cadillac." - Mark Reuss
General Motors product chief Mark Reuss elaborated Tuesday on Cadillac's move to New York in 2015, saying it will "elevate" the brand and allow it to reach new customers.

Cadillac CT6 Plug-in Hybrid is dead for 2019

Plug-in hybrids seem to have it hard at Cadillac. First there was the ELR flop, and now Cadillac is killing off the CT6 Plug-in Hybrid. The news of the hybrid's demise was first broken by GM Authority, and we received a statement from Cadillac confirming that it would be discontinued. With it disappearing for the 2019 model year, the CT6 Plug-in was only around for two model years, the same as the ELR. The Cadillac representative we contacted didn't say exactly why the CT6 Plug-in is being discontinued. All that was mentioned was that focus for the new model year would be on the refresh and the CT6-V. We would guess the hybrid is gone due to slow sales, but General Motors doesn't break out individual trims and powertrains in its quarterly delivery reports, so we can't say for sure. We're a bit disappointed that the CT6 hybrid is going away. We were pleased with its fuel economy and refinement when we had an opportunity to drive one, and its only real sacrifice was a smaller trunk. On the plus side, Cadillac's statement to us said that there are definitely additional electric vehicles coming to the brand, noting that some of the 20 promised electric vehicles from GM by 2023 will be Cadillacs. Related Video: Featured Gallery 2017 Cadillac CT6 Plug-in Hybrid View 15 Photos Image Credit: Cadillac Cadillac Hybrid Luxury Sedan cadillac ct6 cadillac ct6 hybrid