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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.

Cadillac's XT6 is not, for better or worse, a mini Escalade

In its latest attempt at reinvention, Cadillac has created a trio of admirable sedans — the ATS, CTS, and CT6 — cars that challenge or beat the competition on their own terms, and do so with audacious exterior styling rendered in a distinctly American idiom. But American customers have been ditching cars in favor of high-riding crossovers, and what Cadillac has not had up until recently is a suite of appropriately (or bizarrely) sized crossovers to offer potential consumers, something competitors have been deploying for years or even decades. And so the new, full-size(ish) three-row Cadillac XT6, unveiled officially last week at an event in Detroit, is intended to help address the premier domestic automotive luxury brand's current product shortcomings. "I guess we had so many priorities and had to decide what's the most important thing," says Andrew Smith, Cadillac's executive director of design. "We decided to approach this one from an interior perspective, to do things like provide ease of use for owners, upgrade the infotainment, and allow time for ourselves to learn lessons from the launch of XT4." The XT6 doesn't exactly break any new ground within the segment, but that's not necessarily a criticism. Though huge from a sales perspective, the two-box crossover category is not the industry's leader in beauty or innovation. Still, Caddy's most recent previous crossover, the size-Small XT4, managed to create handsome proportions and a premium appearance at first glance. The XT6 doesn't feel quite so ambitious or coherent, with a front end that is at once sneering and soft, a lengthy flank that feints at muscularity without delivering, and a rather abrupt tailgate that blends the rectilinear and the anodyne. Maybe consumers won't notice? "Our biggest challenge was giving the vehicle a character that works on this scale and platform," says Smith. "We want to make sure all of our cars feel different. We didn't want it to be a mini Escalade. No one wants a mini anything. But we wanted to give it Escalade presence, but in scale. So it's this combination of nice, and aggressive. I'm convinced we will sell more than we think we'll sell." Maybe he's right, and we definitely don't see this vehicle cannibalizing sales of the Escalade. People who want a bold Cadillac can still get that one, and will have a brand new option later this year, we expect, when a new Escalade is released.

Cadillac confident attitude will attract the elite to ELR plug-in hybrid [w/video]

Cadillac is not going to pull any punches when it comes to promoting its plug-in hybrid ELR. In the real world, the company is showing off the Wreath And Crest's coupe with Chevy Volt technology at exclusive events with "groups whose members are affluent, green-minded and have an appreciation for design and innovation," says Automotive News. That evidently means young Hollywood celebrities and other well-to-do demographics. As Cadillac global chief Bob Ferguson recently told the industry publication, "If you live on the West Coast and you're an architect and you've given to environmental causes, you're probably going to hear about the ELR. We have sliced and diced who is likely to buy this vehicle." "We have sliced and diced who is likely to buy this vehicle" - Cadillac's Bob Ferguson In the realm of advertising, Cadillac evidently thinks a fast-talking, USA-USA-USA! Type-A personality is just the kind of guy who will convince those celebrities and architects to buy one. For proof, look no further than the star of this new ELR ad called Poolside that Cadillac is airing during the Olympics. There are almost no details about the ELR in this ad, just a whole lot of attitude mixed with humor (the "We got bored" line is funny). In fact, there's almost no indication that the ELR is an extended-range hybrid at all. Short of a brief moment where our hero, actor Neil McDonough, unplugs his car from its charging station, you'd probably never know it's got an EV mode at all. That's undoubtedly a calculated bet by Cadillac, whose ad execs have undoubtedly noted that most electric cars are not selling well with an eco-first message, so they appear to be going with style and swagger instead. Scroll below to see what we mean. The ELR has a starting MSRP of $75,000, and at that price, it's already out of reach for most Americans. Automotive News suggests that annual ELR production is likely to be just shy of 5,000 units, so Cadillac could be on stable ground trying to appeal to such a limited number of buyers. What type of buyers? Well, that remains to be seen. Related Gallery 2015 Cadillac ELR: First Drive View 25 Photos News Source: Cadillac, Automotive News - sub. req. via YouTubeImage Credit: Gallery images copyright 2014 Michael Harley / AOL Green Cadillac Electric Hybrid PHEV cadillac elr elr poolside