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General Motors posts record earnings, but global sales fall

General Motors started the year with record success. The automaker's $2.7 billion in adjusted earnings before interest and taxes was its highest ever in in the first quarter of 2016, up from $2.1 billion in from the same time period a year earlier. Net income grew to $1.95 billion, which was more than double the $953 million in the same period last year. The company's figures also beat analysts' predictions, according to the Detroit Free Press. Despite the financial growth, global sales actually decreased by 2.5 percent to 2.36 million vehicles. "We're growing where it counts, gaining retail share in the US, outpacing the industry in Europe and capitalizing on robust growth in SUV and luxury segments in China," CEO Mary Barra said in the company's financial announcement. GM did well in North America with an adjusted EBIT of $2.3 billion, up from $2.2 billion last year. Sales in the region also grew 1.2 percent to 800,000 vehicles. According to The Detroit Free Press, the company has been especially successful at selling more expensive models in the US. The company's average vehicle was $34,600 in Q1, about $3,000 more than the industry average. Elsewhere in the world, GM also showed improvement. Europe practically broke even after losing about $200 million last year, and Opel and Vauxhall sales grew 8.4 percent to more than 300,000 vehicles for the quarter. South America only lost $100 million, which was half as much as Q1 2015's $200 million loss. China remained flat at $500 million of income. Cadillac volume jumped 6.1 percent there, and Buick's deliveries increased 22 percent, thanks to the Envision crossover's success. GM Reports First-Quarter Net Income of $2.0 Billion 2016-04-21 EPS diluted of $1.24; First-quarter record EPS diluted-adjusted of $1.26 First-quarter record EBIT-adjusted of $2.7 billion GM Europe posts break-even performance DETROIT – General Motors Co. (NYSE: GM) today announced first-quarter net income to common stockholders of $2.0 billion or $1.24 per diluted share, compared to $0.9 billion or $0.56 per diluted share a year ago. Earnings per share diluted-adjusted for special items was a first-quarter record at $1.26, up 47 percent compared to the first quarter of 2015. The company set first-quarter records for earnings and margin, with earnings before interest and tax (EBIT) adjusted of $2.7 billion and EBIT-adjusted margin of 7.1 percent.

Reservations for Cadillac CT4-V and CT5-V Blackwing models to open in February

Cadillac will unveil its high-performance CT4-V Blackwing and CT5-V Blackwing sedans on Feb. 1 and will accept reservations for the cars the same day. Only 250 examples of each car will be built for 2022, and immediately after the reveal, customers can secure one of these Caddies with a $1,000 deposit, which is refundable. Deliveries are set to begin in mid-summer. As a special enticement, those first 250 cars will get a numbered plaque on the steering wheel, which indicates the model, transmission, and build sequence. Note that the plaque comes only on cars equipped with the high-performance steering wheel, which based on the teaser image below appears to have carbon fiber accents. It's standard on the CT5-V Blackwing and included on mid-level and higher versions of the CT4-V Blackwing. We already know that the CT5-V Blackwing will be available with carbon fiber seatbacks. More exciting news is that Cadillac will buck the prevailing trend and offer a six-speed manual transmission as standard equipment in both cars. A 10-speed automatic also will be available. It's not yet known what engine will power the sedans, although it's not expected to be the eponymous 550-hp Blackwing V8 that had an abbreviated run in the just-discontinued CT6-V. Cadillac has also announced that Blackwing buyers can avail themselves of a 2-day high-performance driving school experience at Cadillac's V-Series Academy at the Spring Mountain Motor Resort in Pahrump, Nevada. They're on their own as far as getting there, however. The unveiling of the two new Blackwings on Feb. 1 will take place at the brand's main website as well as its Twitter page. Related Video:    

Cadillac Lyriq shown in pre-production form for the first time

A single photo of the upcoming Cadillac Lyriq testing in camouflage was posted on LinkedIn by Mahmoud Samara, Cadillac’s vice president of sales, service and marketing. ItÂ’s significant, because we havenÂ’t seen a single photo of the actual pre-production Lyriq yet. All Cadillac has shown us so far is a concept-like version of the crossover that is destined for production. This photo of the crossover done up in camouflage gives us the first impression of how Cadillac is transforming the Lyriq from concept car to production car. ItÂ’s moving at speed with some motion blur in the image, but we've lined both it and the original production-intent prototype up atop each other below for you to compare. In a way, this photo is a lesson in how deceiving camouflage on a car can be. The undisguised Lyriq has exponentially more presence and pizzazz than the one in black and white speckled wrappings. Given just the camo car, weÂ’d be able to discern that Cadillac is working on a large, coupe-like electric crossover, but the details would remain a mystery. The dramatic window line is totally obscured by the camo car, and so is its wild rear taillight that wraps up into the giant rear pillar. That huge rear blade/pillar is one area that could see change from the Lyriq photos weÂ’ve seen so far, too, as it looks like a massive blind spot for the driver. Other notable differences include regular-sized wheels and tires, a potentially higher roofline (for more practical headroom and cargo space) and actual side mirrors instead of the camera mirrors. Does it all look slightly less futuristic? Sure, but remember that the camouflage is there to disguise and trick the eye. One element that does look completely carried over is the massive screen inside. You can see the monolith stretching across the dash from far away. ItÂ’s likely that we get a full array of spy shots from one of our usual sources soon with far more angles to look at. SamaraÂ’s announcement in his post made it clear that pre-production testing is underway at GMÂ’s testing facilities. Cadillac has previously said that the Lyriq would officially go on sale in late 2022, so expect more disguised prototypes until then. Cadillac Lyriq View 8 Photos Related video: The Lyriq is CadillacÂ’s new all-electric crossover