1964 Cadillac Series 62 on 2040-cars

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GM earnings rise 1% as buyers pay more for popular pickups

DETROIT — General Motors said Thursday that higher prices for popular pickup trucks and SUVs helped overcome slowing global sales and profit rose by 1% in the second quarter. The Detroit automaker said it made $2.42 billion, or $1.66 per share, from April through June. Adjusting for restructuring costs, GM made $1.64 per share, blowing by analyst estimates of $1.44. Quarterly revenue fell 2% to $36.06 billion, but still beat estimates. Analysts polled by FactSet expected $35.97 billion. Global sales fell 6% to 1.94 million vehicles led by declines in North America and Asia Pacific, Middle East and Africa. The company says sales in China were weak, and it expects that to continue through the year. In the United States, customers paid an average of $41,461 for a GM vehicle during the quarter, an increase of 2.2%, as buyers went for loaded-out pickups and SUVs, according to the Edmunds.com auto pricing site. The U.S. is GM's most profitable market. Chief Financial Officer Dhivya Suryadevara said she expects the strong pricing to continue, especially as GM rolls out a diesel pickup and new heavy-duty trucks in the second half of the year. "We think the fundamentals do remain strong, especially in the truck market," she said, adding that strength in the overall economy and aging trucks now on the road should help keep the trend going. Light trucks accounted for 83.1% of GM's sales in the quarter, and pickup truck sales rose 8.5% as GM transitioned to new models of the Chevrolet Silverado and GMC Sierra, according to Edmunds, which provides content to The Associated Press. As usual, GM made most of its money in North America, reporting $3 billion in pretax earnings. International operations including China broke even, while the company spent $300 million on its GM Cruise automated vehicle unit. Its financial arm made $500 million in pretax income. Suryadevara said GM saw $700 million in savings during the quarter from restructuring actions announced late last year that included cutting about 8,000 white-collar workers through layoffs, buyouts and early retirements. The company also announced plans to close five North American factories, shedding another 6,000 jobs. About 3,000 factory workers in the U.S. whose jobs were eliminated at four plants will be placed at other factories, but they could have to relocate. GM expects the restructuring to generate $2 billion to $2.5 billion in annual cost savings by the end of this year.

Cadillac Live virtual showroom is open for business in the U.S.

Cadillac launched the streaming showroom known as Cadillac Live in Canada earlier this year. The program places a Cadillac product specialist in an open studio laid out similar to a dealership. Equipped with an iPhone X on an Osmo Mobile gimbal and a Bluetooth headset, the specialist conducts one-way video chats with car buyers shopping for Cadillacs and owners who have questions about their cars. Now Cadillac Live has arrived in the United States. Described as "part personal shopper and part interactive digital showroom," it's aimed at converting luxury shoppers into Wreath and Crest buyers by making the research experience simpler. The automaker says it has data showing that "71% of customers report switching to a competitor’s product after finding their selection process easier." As well as being able to show and demonstrate 10 physical vehicles and their features, product specialists will be able to use a tablet app interface to run through color and accessory options. Shoppers and buyers with questions can reach a Cadillac Live agent from 9 a.m. to 1 a.m. ET Monday to Thursday, 9 a.m.-9 p.m. ET on Friday, and 11 a.m.-7 p.m. ET Saturday and Sunday. Calls can be taken on demand or scheduled at the Cadillac Live site, call appointments can be made for times outside of the traditional opening hours, and multiple callers can participate. U.S. customers in California, Illinois, New Jersey, and New York who like what they discover can automatically be connected to a local dealer to move on to the next phase. And video calls are one-way, so work-from-home types need not worry about broadcasting their coffee-stained "Beast Mode" workwear. 

Cadillac XT3 caught covered in copious camouflage

While a bit difficult to tell thanks to the impressive camouflage used, what we're looking at here is likely the upcoming Cadillac XT3. There are a few details that stand out to lend credence to this prediction. There are a handful of sharp angles scattered throughout that are in line with Cadillac's modern design language. Specifically in the LED running lights and on the side mirrors. The rear profile also is reminiscent of the current, and slightly larger XT5. The rear lights extend into the D-pillars, which would match the current Escalade. We get a pretty clear picture of the rear suspension on this XT3. It's clearly an independent rear suspension using coil springs. While General Motors uses independent suspension on some of its crossovers, we can't quite match it to a particular model. We believe that if the XT3 is based on an existing model (which it almost certainly is), the platform and suspension have been substantially modified. The XT3 could use a version of the D2XX platform that underpins the Buick Envision. However, we know from a previous report that the XT3 will likely be built at the factory that produces the Buick LaCrosse and Chevy Malibu. The XT5 uses a modified version of the LaCrosse/Malibu platform, so it's possible the XT3 could use a shorter version of the XT5 chassis. Depending on how small the XT3 ends up being, it might even share a platform with the Chevy Trax and Buick Encore. However, considering their economy car roots and torsion-bar rear suspension, we think that's the least likely. Regardless of what chassis is underneath its crisp bodywork, we expect the XT3 to be released sometime next year. Related Video: