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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.

Recharge Wrap-up: Lyft partners with Didi Kuaidi, Cadillac uses ultracapacitors

Lyft and Chinese on-demand transportation venture Didi Kuaidi have announced a partnership. Additionally, Didi Kuaidi is investing $100 million in Lyft. The two ridesharing companies will share technology and provide interoperability between platforms. For users, this means it will be easier to get around when traveling between the US and China. "In today's rideshare environment, where every region presents a unique set of challenges and opportunities, partnering with the homegrown leader is the winning approach to Chinese expansion," says Lyft President and co-founder John Zimmer. Learn more in the video above, and in the press release below. Car2go has announced service in Miami Beach, FL. Beginning October 1, the one-way carsharing service will expand its boundaries beyond its current Miami service area to include neighboring Miami Beach. "We're thrilled to see car2go expand to Miami Beach," says Miami Beach Mayor Philip Levine. "Miami Beach residents and visitors are increasingly seeking new, environmentally conscious options to move around North, Middle, and South Beach, and carsharing is an important part of realizing that vision." Read more from Car2go. ClipperCreek has added the HCS-30 EVSE to its product line. The 24-amp, 240-volt Level 2 charging station is designed for residential and workplace duty. It allows for faster charging without the customer having to upgrade their electrical service panel. Delivering about 20 miles of range per hour of charging, the HCS-30 EVSE can charge most EVs in about four hours. Pricing begins at $565. Read more from ClipperCreek. Cadillac will use ultracapacitors in its stop-start systems for 2016. Rather than relying on battery power to run electrical systems while the engine is not running, the utracapacitors can provide a stable flow of energy without losing lifespan to repeated cycling. Supplied by Maxwell Technologies, the ultracapacitors are also lighter than batteries and, according to Cadillac, provide smoother restarts. The 2016 models to use the updated stop-start technology as standard will be the ATS and CTS, with the exception of the V performance variants. Read more at Green Car Reports. Lyft and Didi Kuaidi Announce Strategic Partnership, Building Toward a Collaborative Global Ridesharing Alliance - Didi Kuaidi Invests $100 million in Lyft - Companies Introduce Ridesharing Coverage Between the U.S.

2017 Cadillac CT6 Plug-In Hybrid Drivers' Notes Review | Seamlessly green

In many ways, the Cadillac CT6 Plug-in Hybrid is the most interesting car the brand sells. Despite having a turbocharged four-cylinder hybrid powertrain, it makes the most torque of any CT6, even the twin-turbocharged V6 model. It also has a claimed electric range of 31 miles and can still manage a combined fuel economy of 26 mpg with just the gas engine. Even its origin is interesting, since its final assembly point is China. To cap things off, it's also the second most expensive CT6 in the range. To find out if the CT6 is worth that money, and has more to offer than fun facts, we spent some time behind the wheel. Editor-in-Chief Greg Migliore: I achieved 34.1 miles per gallon for my roughly 14-mile roundtrip in the CT6 hybrid. This sedan is a rolling example of where luxury is heading in the near term: Existing models souped up with hybrid tech, and the green features will go along way toward keeping big sedans like this relevant. It's a smart play for Cadillac to add a product like this. Otherwise, it's a fairly standard-issue CT6, which is a solid car. The flashy head- and taillights look great. The design is angled, creased and nicely proportioned. The interior is comfortable and roomy. It's a nice car. Cadillac invested a lot in the CT6, and it shows. Rumors have long swirled that the brand will add a larger flagship, though in this climate, that's hard to envision. For now, the CT6 does the job as Cadillac's standard bearer. Associate Editor Joel Stocksdale: Of all the different CT6 variants available, the CT6 PHEV is the one I would pick for myself. Why? Because the hybrid powertrain finally delivers on the quiet, refined driving experience I want from a flagship luxury sedan. I was a bit surprised by this, too, since the gas engine under the hood is the 2.0-liter four-cylinder used elsewhere, which isn't the smoothest thing in the world. But assist from the electric motor helps keep the four-cylinder from having to wind up too much to move the big Caddy, and when the gas engine does rev hard, it's well muffled by whatever insulation is in the car. Besides aural refinement, the power delivery is oil-on-ice slick. The blending of electric and gas power is seamless. There's no waiting on the turbo to spool up, and there's no loss of power at higher rpms with the electric motor. They work in perfect harmony providing excellent low-down grunt and solid upper-end power. The transmission is super smooth, too allowing for happy wafting wherever you go.