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Opel pulls out of Russia, GM to focus on Cadillac, 'iconic' Chevys

General Motors is going to realign its priorities in the struggling Russian marketplace, withdrawing its Opel brand and pulling out mainstream Chevrolet models. Instead, the General will take aim at Russia's well-established oligarchy, pushing Cadillac as well as "iconic" Chevrolet models, like the Corvette, Camaro and Tahoe. "This change in our business model in Russia is part of our global strategy to ensure long-term sustainability in markets where we operate," GM president Dan Ammann said in a statement. "This decision avoids significant investment into a market that has very challenging long-term prospects." Russian customers interested in an Opel or mainstream Chevys like the Spark, Aveo (the US market Sonic), Cobalt (shown above), Cruze, Orlando and the like have until December to snap up a car before the brands are pulled. "We do not have the appropriate localization level for important vehicles built in Russia and the market environment does not justify a major investment to further localize." Opel Group CEO Karl-Thomas Neumann said. GM will continue to offer service to customers in Russia. "We can assure our customers that we will continue to provide warranty, parts and services for their Chevrolet and Opel vehicles," Neumann said. Beyond realigning its brands in Russia, GM also announced that it would also be idling the company's factory in the country's second-largest city, St. Petersburg. This is the second time the St. Petersburg factory has been in the news – GM announced that it'd be idled for roughly two months back in February. Scroll down for the official press release from GM. GM to Change Business Model in Russia 2015-03-18 Focus on Cadillac and iconic Chevrolet vehicles Wind down Opel brand and sale of mainstream Chevrolet cars Idle GM Auto manufacturing facility in St. Petersburg Part of GM's strategy to ensure long-term sustainability in global markets DETROIT – General Motors today announced plans to change its business model in Russia. GM will focus on the premium segment of the Russian market with Cadillac and U.S.-built iconic Chevrolet products such as the Corvette, Camaro and Tahoe. The Chevrolet brand will minimize its presence in Russia and the Opel brand will leave the market by December 2015. "This change in our business model in Russia is part of our global strategy to ensure long-term sustainability in markets where we operate," said GM President Dan Ammann.

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

Mystery Cadillac coupe concept revealed in patent drawings

We have been reminded once again that when Cadillac designs a coupe, it's usually spectacular. The reminder comes in the form of a patent drawing filing that was previously reported on by Jalopnik. In the filing are shots of the two-door from just about every angle, and there's not a bad one in the bunch. Unfortunately, there isn't really any other information about the car in the patent, so the car remains a mystery in that regard. Still, there's a fair amount to be gleaned from the images. It certainly looks sportier than most recent Cadillac concepts. It has a fastback roof and a short deck lid. The rear bumper has a diffuser design fitted to it. The rear fenders are very wide. It has large auxiliary grilles on each side of the center one, and the way the taillights are designed seem to hint at extractor vents. The overall proportions even look a bit like those of the Camaro, but possibly a little larger. The car also looks like it's probably a concept. The side mirror stalks are far too skinny to actually be production units. The big diffuser and center exhaust, plus those rear extractor vent designs seem a little much for a production model, too. The headlights are also a little on the small side. Being a concept (probably), we're a little worried. We really want to see this thing come to market, but Cadillac has a bad track record of showing beautiful concepts that never make it to production, even when they aren't particularly over-the-top. The Elmiraj and Ciel are two that come to mind. The former was a coupe, too, and was elegant and grounded. We never got a production version of either. We did see some styling inspiration from the Elmiraj on the ATS and CTS, but they never quite captured the concept's beauty. Then again, when Cadillac has managed to bring a recent concept to production, the results haven't great. The Converj concept became the ELR, and while the styling came through fine, it was hampered by an uninspiring powertrain and an excruciating price tag. But hey, Cadillac could always prove us wrong. And we would like them to. Related Video: Featured Gallery Cadillac Coupe Patent Drawings News Source: U.S. Patent and Trademark OfficeImage Credit: U.S. Patent and Trademark Office Cadillac Coupe Concept Cars Luxury