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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 CT6 V-Sport wants to take prisoners with 550-hp 4.2L TT V8

With the refresh of the Cadillac CT6 for 2019, Cadillac welcomes the first CT6 V-Sport as well as a new trim strategy. The changes at the front for the CT6 lineup don't appear substantial viewed head-on, one needs a side view to appreciate the greater three-dimensionality. Thinner headlights and a thinner bumper above a slightly larger lower front intake emphasize the mesh grille, and the vertical LED DRLs make more dramatic statements thanks to those narrower headlights. By angling the main units back toward the rear of the sedan, the CT6 now has a certified, sculpted snout. The rework appears to add substantial overhang, but overall length only increases by a tenth of an inch, to 204.1 inches. What's under the V-Sport's probing hood is just as interesting as the redesign and the sporting thrust: A clean-sheet design of a 4.2-liter DOHC twin-turbo V8. In the V-Sport, the engine produces 550 horsepower and a Bentley-esque 627 pound-feet of torque. As an optional engine elsewhere in the CT6 range, the same engine produces 500 hp and 553 lb-ft. The displacement, specs, plus the fact that "each engine will be hand-built at the Performance Build Center in Bowling Green, Kentucky" indicate this was one of the rumored powerplants for the mid-engine Corvette. The coming sports car was tipped to get a 4.2-liter and 5.5-liter DOHC twin-turbo V8. Based on the position of the turbos in this engine vs. their positions in the previous CAD drawings, we assume the drawings represented the 5.5-liter. (Note: Cadillac said Corvette will not get the new 4.2-liter twin-turbo engine.) The 4.2-liter item features an aluminum block, heads, and pistons, direct injection with a 9.8:1 compression ratio, cylinder deactivation, cylinder oil jets, and a variable-pressure oil system. The twin-scroll turbochargers capable of 20 pounds of boost sit in the 90-degree vee, working alongside twin water-to-air intercoolers, twin throttle bodies, and twin electric wastegates. Cadillac says 90 percent of torque arrives at 2,000 rpm and loiters through 5,200 rpm. Power gets sent through GM's 10L90 ten-speed automatic transmission and on to the standard all-wheel-drive system. Cadillac didn't list 0-to-60-mph times in its press release, but engineers have track-worthy alacrity in mind for the CT6 V-Sport.

2016 Cadillac CTS-V arrives with 640 hp, 200-mph top speed

Ask the company's executive team, and they'll tell you "this is the maximum Cadillac V-Series." It's the 2016 CTS-V sedan, and it packs the very best of what's possible at Cadillac. And the company says it doesn't think "anyone thought it was possible that we could push [the CTS-V] this far." The big news is what's underhood: General Motors' supercharged, 6.2-liter LT4 V8, tuned to 640 horsepower and 630 pound-feet of torque. That's 10 hp and 20 lb-ft less than the monstrous Corvette Z06, and the result is the most powerful car Cadillac has ever produced. With rear-wheel drive, launch control and the eight-speed automatic transmission (sorry, folks – no more manual transmission here), Cadillac says the 2016 CTS-V will sprint to 60 miles per hour in just 3.7 seconds, on its way to a top speed of 200 miles per hour. Naturally, Cadillac's engineers say they have tuned the CTS-V to ensure it can put all that power to the ground with the most precision and poise possible. That starts with the excellent Magnetic Ride Control active damping system (with a claimed 40-percent increase in responsiveness)and a 25-percent increase in structural stiffness that should improve overall handling and steering. What's more, a high-performance Brembo brake package comes standard, as do 19-inch alloy wheels wrapped in seriously sticky Michelin Pilot Super Sport tires that will reportedly offer 1g in lateral acceleration. Cadillac also says that all changes to the bodywork are functional. That includes a carbon-fiber hood, front splitter, rear spoiler and diffuser that are super light and aid with aerodynamics and weight reduction – all of which will be available as an optional package for folks who like the exposed carbon look. Inside, it's more of what we're used to on lesser CTS models, but there's newly optional carbon fiber trim, microfiber suede upholstery trim, and some seriously awesome Recaro seats. Additionally, as we exclusively reported earlier, Cadillac will offer GM's Performance Data Recorder in the CTS-V. It records high-definition video with data overlays that's sharable via social media. Beyond that, Cadillac will offer the usual smattering of tech goodies, including Siri Eyes Free, OnStar with 4G LTE, CUE infotainment with navigation and Bose audio. The CTS-V will launch later next year, following the debut of the smaller ATS-V. In the meantime, the sedan will officially bow at the 2015 Detroit Auto Show in just a few weeks.