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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 prices the 2020 XT6 crossover from $53,690

Cadillac has announced official pricing for its new XT6 crossover, built in Tennessee. The three-row XT6, Cadillac's first big crossover, starts from $53,690 when it goes on sale later this spring. For that, Cadillac offers the "Premium Luxury" trim level model with front-wheel drive; AWD is optional. Above the Premium Luxury is the XT6 Sport, which comes standard with AWD and starts from $58,090. Both prices include destination charges. The sole engine at this point is the 3.6-liter naturally aspirated V6, which produces 310 horsepower and 271 lb-ft of torque; the transmission is a nine-speed automatic. The Premium Luxury and Sport differ visually, with the former offering more chrome and wood, while the latter has blacked-out trim in place of chrome and carbon trim instead of cabin wood. The wheel design is different between the trim levels, and the Premium Luxury has red taillights while the Sport version has clear tails. The Sport model has continuously adjustable shock absorbers. Both models have seven airbags as standard, as well as an HD rear camera, forward collision alert, automatic emergency braking and front pedestrian braking, front and rear park assist, lane change and blind spot alert, lane keeping assist and lane departure warning and rear cross traffic alert. The lighting is LED front and rear; inside, a heated steering wheel is standard, as is a power folding third-row seat and a remotely folding second-row seat. Seven-passenger seating is standard, and a six-passenger setup is optional with captain's chairs for the second row. There are option packages such as the Enhanced Visibility and Technology Package, which adds an eight-inch gauge cluster display and an HUD, both in color, HD surround vision with recording, and automatic parking assist with braking. The Driver Assist package adds adaptive cruise and enhanced AEB, and one can also specify night vision. The XT6 charges phones wirelessly and is Apple CarPlay and Android Auto compatible as standard. It also has a 4G LTE Wi-Fi hotspot with 3GB or three months' worth of data thrown in, and phones are paired via NFC. Cadillac is taking orders for the XT6 starting in March.

Cadillac previews upcoming new XT5 crossover [UPDATE]

UPDATE: Cadillac has released another three images, which we've added to the gallery above. Cadillac is gearing up to unveil its new XT5 crossover at the Dubai Motor Show in November. We've already seen what it'll look like - from a couple of angles, anyway - but the all-American luxury automaker has given us another taste of what's to come with a quartet of images released on its official Facebook page. Set to replace the SRX that's now six years old, the all-new XT5 adopts the new design language we've seen on newer Cadillacs of late. That's most particularly emphasized with those vertically integrated LED headlights. The sharply creased styling is also signature Cadillac, as is the egg-crate grille capped by the brand's wreath-less new emblem. The dark brown paint job also looks like it has a deep metallic flake to it, offset by satin brightwork where you might have once expected to see glinting chrome. (Then again, it could just be reflecting a uniform backdrop.) The XT5 is expected to be the first of several new Caddy crossovers to wear the letters XT. A smaller model (likely to be dubbed XT3) is tipped to slot in below, with a larger XT7 to slot in above – but still below the defiantly truck-based Escalade that's not about to go anywhere anytime soon. Sedans will continue to start their nameplates with the letters CT. But after a dozen years, the letters SRX will be retired from the Cadillac lexicon. Related Video: