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Trucks and tidbits from GM's earnings report

General Motors announced this morning that 2018 was a good year for it financially, thanks in large part to the company's performance in North America, which was predicated, according to the company, on "strong pricing, surging crossover sales, successful execution of the company's full-size truck launch, growth of GM Financial earnings, and disciplined cost control." GM reported full-year income of $8.1 billion and EBIT-adjusted income of $11.8 billion. Crossover sales in 2018 were 1,034,808, an increase of 7 percent compared to 2017 deliveries. Throw in the body-on-frame SUVs and the ute number is a total 1,295,700. But let's face it: It is the trucks that really matter. The Chevy Silverado and Colorado, the GMC Sierra and Canyon. Altogether, GM sold 973,463 pickups in the U.S. in 2018. Although Ford gets bragging rights for F-Series sales, GM gets to point out that it has a greater aggregate number. An important factor regarding the trucks and the reported income is that during the last quarter, more than 90 percent of the new 2019 trucks were crew cabs (which have a higher sticker), and at GMC more than 70 percent were Denali and AT4 models (which have even higher stickers). According to reporting by Bloomberg, GM's pickup trucks combine for $65 billion in annual revenue. Clearly when the 2018 sales of the Silverado — 585,581— dwarf the combined sales of both Buick (206,863) and Cadillac combined (154,702), pickups are what matter to the overall health of the company in a way that it is difficult to otherwise achieve. The "disciplined cost control" is something that is very much in the public eye right now, as the company is taking out thousands of its workers, and there is still the "unallocated" plant situation and other plants that will remain under capacity. The numbers in GM's earnings report probably made Unifor members' heads explode in consternation, coming fresh off their Super Bowl ad: " GM, you may have forgotten our generosity, but we'll never forget your greed." But there are a couple of curiosities in the full GM earnings release. One is that so far as its autonomous efforts go, it mentions only that (1) in the first quarter of 2018 Cruise introduced a production-ready autonomous vehicle, and (2) Cruise attracted $5 billion in external capital from SoftBank and Honda. Not a whole lot of love for autonomy. Good thing they have the trucks to fund the program, to say nothing of the external capital.

Cadillac to Corvette: You’re not getting our twin-turbo V8 engine

NEW YORK — Cadillac president Johan de Nysschen bluntly shot down rumors his brand's powerful twin-turbo V8 is also headed for the Chevy Corvette. Speaking Wednesday at the New York Auto Show, he said: "Just quit the speculation it's headed for Corvette. It's not." The 4.2-liter V8 cranks out 550 horsepower and 627 pound-feet of torque in the Cadillac CT6 V-Sport, which debuted at the show. With that kind of performance and the fact the engine will be hand-built at the General Motors Performance Build Center in Bowling Green, Ky. — at the Corvette factory — led enthusiasts to presume the engine would eventually be under the Vette's hood. De Nysschen, however, argued the engine will also focus on levels of refinement, rather than the Corvette's raw, visceral dynamic. "I think Corvette wants a different kind of character," he said. In fact, the V8 is set to be only for Cadillacs, de Nysschen said, giving the luxury brand its first exclusive engine in years. "It's a matter of being a thoroughbred luxury car," he said. "It's really only a luxury brand that could recoup this [development] cost." A version of the engine making 500 hp and 553 lb-ft will also be used in other Cadillac models. De Nysschen declined say which vehicle will get the engine next. The new V8 uses a "Hot V" configuration more common to German performance cars, and has direct injection, electronic wastegate control, active-fuel management and stop-start technology. It teams with a 10-speed automatic transmission and fits either rear- or all-wheel drive systems. With a new mid-engine Corvette — and potentially more versions of the existing generation Vette — on the horizon, speculation pointed to the sports car getting a twin-turbo powerplant of some sort (V6 rumors also have floated), and the Cadillac 4.2-liter seemed to fit on paper. According to de Nysschen, that won't be the case. Still, even though the Cadillac boss says this specific engine won't go to Corvette, it's hard to not think some version of this engine, perhaps in a different displacement, could find its way under the hood of the Vette at some point in the future. Related Video:

Why Cadillac needs a real truck in its lineup

Premium brands such as BMW, Mercedes-Benz, Lexus, and Cadillac sell vehicles that cover the spectrum from car to crossover to SUV. But trucks? They remain the last frontier when it comes to luxury brands. These days Chevy, GMC, Ford, and Ram sell cheap, bare-bones work trucks alongside loaded models that top $75,000. There is a reverse elitism that comes with this sales tactic. A brand gets to reflect a rugged working class lifestyle with the emblem up front, while what's behind it costs as much as a small house in middle America. But Americans who spend big money on cars and SUVs have always gradually tailed towards luxury nameplates over time. Everyone knows what an Escalade is, and thanks in large part to that image the Escalade is now the best-selling fullsize luxury SUV in the USA. Cadillac's flagship model, along with its midsize luxury crossover, the SRX, routinely outsell the competition from Audi, Mercedes, and BMW, not to mention Ford's Lincoln brand and most of the Japanese rivals. With trucks already dominating overall sales and headed into the pricing stratosphere, I believe it's time for Cadillac to consider a fullsize truck. And no, not a lipstick version that merely takes a Chevrolet Silverado pickup and throws in a few leather seats and some slight interior touches. That experiment already failed both for Cadillac (the Escalade EXT) and for Ford's Lincoln brand (Blackwood, Mark LT). Cadillac is an American brand that currently focuses a ridiculous amount of energy and resources trying to compete with European car offerings. The brand needs to create the Cadillac of trucks. Head honcho Johan de Nysschen has been blunt in his desire to "restore Cadillac to the pinnacle of global premium brands, not in sales but in aspirational brand character." This sounds well and wonderful. But the present problem in achieving this goal is that, on a global basis, Cadillac is a failed brand. Look at Europe, where Cadillac has sold so poorly in recent years that former Soviet manufacturer Lada managed more new registrations in 2014 by a factor of more than four to one. Cadillac is an American brand that currently focuses a ridiculous amount of energy and resources trying to compete with European car offerings. After more than 20 years of Cadillac models selling themselves as import killers, the only one with sustained success has been the CTS, and even that has been a marketplace loser for the last several years. The CTS-V?