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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.

2014 Cadillac CTS debuts new design, twin-turbo power, Vsport model [w/video]

If ever there were a Cadillac to truly rival the world's best, this could be it.
With every new model, Cadillac indeed gets closer and closer to actually performing at the top of its class, rivaling those crafty Germans at their own sport/luxury sedan game. The best example yet of Cadillac's efforts to challenge the world came last year, when we met the 2013 ATS - a vehicle that we praised for its on-road dynamics and interior refinement, and later went on to be named North American Car of the Year.

Sunday Drive: Classic American nameplates and one exciting new German

Our look back at last week's biggest automotive stories focuses first on the Jeep Wagoneer, an unequivocal American classic. Not only did the Wagoneer play a pivotal role in kicking off America's current love affair with the sport utility vehicle, it legitimized the Jeep brand in the mind of consumers looking not just for something to ably take them off the beaten path, but to do so in comfort, with the entire family along for the ride. So it comes as little surprise that Jeep decided to take one vintage Wagoneer, modernize it with a 5.7-liter Hemi V8 engine, and put the thing on display as part of its annual Moab Easter Jeep Safari. We're in love. Our next two stories focus on Cadillac. First up is news that the striking Escala Concept is headed for production in 2021 to serve as the brand's flagship luxury sedan. The second story involves Caddy's current top rung, the CT6, which gets a new twin-turbo V8 engine as part of its V-Sport package. And finally, we round out this look at last week's headlines with the 2019 Mercedes-Benz C-Class Coupe and Cabriolet. We're mighty keen to try out Benz's new AMG-fettered turbocharged inline-six engine, and the C Coupe looks like a fine point of entry. As always stay tuned to Autoblog this week for all the latest automotive news. Jeep delivers basketful of concepts for the Moab Easter Jeep Safari Cadillac's striking Escala concept is reportedly headed for production Cadillac CT6 V-Sport wants to take prisoners with 550-hp 4.2L TT V8 2019 Mercedes-Benz C-Class Coupe and Cabriolet revealed ahead of New York