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GM profit dips on truck changeover, but beats estimates

DETROIT — General Motors on Thursday reported a higher-than-expected quarterly profit despite a drop in production of high-margin pickup trucks, as it gears up for new models that are expected to boost profits next year. Like rivals Ford and Fiat Chrysler Automobiles, GM is banking on highly-profitable Chevy Silverado and GMC Sierra pickup trucks to lift profits, as consumers shift away from traditional passenger cars in favor of these larger, more comfortable trucks, SUVs and crossovers. During the first quarter, the process of changing over to GM's new pickups resulted in a drop in production of 47,000 units. GM Chief Financial Officer Chuck Stevens said the production drop had resulted in a drop in pre-tax profit of up to $800 million. Earlier this year, GM said its 2018 profits would be flat compared with 2017, but expected its all-new pickup trucks would boost margins starting in 2019. On Thursday, GM reiterated its full-year 2018 forecast for adjusted earnings in a range from $6.30 to $6.60 per share. The automaker said capital expenditures were more than $500 million higher in the quarter because of investments its new pickup trucks and a family of low-cost vehicles under development with Chinese partner SAIC Motor Corp. On Wednesday, rival Ford said it would stop investing in most traditional passenger sedans in North America. CFO Stevens told reporters on Thursday that GM has "already indicated that we will make significantly lower investments on a go-forward basis" in sedans. 2019 GMC Sierra View 21 Photos GM benefited from a lower effective tax rate in the quarter, but adjusted pre-tax margin fell to 7.2 percent from 9.5 percent a year earlier. Stevens said the company's profit margin should hit 10 percent or higher in the second quarter and for the full year. GM said material costs were $700 million higher in the first quarter, and it expects those costs to continue rising. The automaker said it would counter those increases with cost cutting measures. "It is a more difficult environment than it was three or four months ago," Stevens said when asked about rising commodity prices from potential steel and aluminum tariffs announced by the Trump administration. "But we are confident we can continue to offset that." The company reported quarterly net income of $1.05 billion or $1.43 per share, a drop of nearly 60 percent from $2.61 billion or $1.75 per share a year earlier. Analysts had on average expected earnings per share of $1.24.

Chevy Colorado Z71 Trail Boss 3.0 concept heads to SEMA

Chevrolet is presenting a new take on the Colorado pickup at the SEMA show this year. The show truck picks up where the Colorado Z71 Trail Boss Edition leaves off, with numerous accessories from the parts catalog as well as several custom additions. The SEMA truck is based on a Crew Cab model with four-wheel drive, painted red with rally stripes. Among the features added from the catalog are a sport bar with LED auxiliary lighting, mounted to the cargo bed. It's also stylistically augmented with fender blares, Bowtie emblems, and rocker steps all done up in black to match the 17-inch alloys shod with Goodyear DuraTrac all-terrain tires. Chevy has also equipped this truck with an automatic locking rear diff, a transfer case shield, recovery hooks at the front, a spray-in bedliner, projector-beam headlamps, fog lamps, and all-weather floor mats. Chevy has also fitted this pickup with color-keyed door handles and mirror caps, upgraded exhaust and air intake, rubber floor liners, brushed metal interior trim, and an illuminated grille badge. Public reception will determine how many of these and other additional features will be considered for production. Colorado Z71 Trail Boss 3.0 Concept Shows Off-Road Style New styling accessories, performance parts enhance trail-ready capability LAS VEGAS – The Colorado Z71 Trail Boss Edition is designed for those who want to blaze their own trails and Chevrolet's new Z71 Trail Boss 3.0 concept vehicle enhances its off-road style with new Chevrolet accessories and performance parts. Chevrolet introduced the new concept vehicle at the SEMA Show today, where it joined concept versions of the Silverado 1500 and HD models to demonstrate the depth and breadth of the brand's three-truck lineup. "The Colorado Z71 Trail Boss Edition is made for tackling the tough terrain required to get away from it all and this concept version does it with rugged style," said Sandor Piszar, director of Chevrolet Truck Marketing. "And whether it's the Colorado, Silverado 1500 or Silverado HD, there's a Chevy truck to take you where you want to go, regardless of whether there's a road leading there." The production 2016 Colorado Z71 Trail Boss is offered in extended and crew cab configurations, with a choice of a long or short cargo bed and available 4WD – as well as the all-new 2.8L Duramax turbo-diesel, which takes the maximum trailering rating up to 7,700 pounds.

This is how GM is hiding new Chevy Volt in public

General Motors is letting the public know that, well, it's not about to let the public know anything else about the next-generation Chevrolet Volt. But the automaker is willing to talk about its camouflaging process for upcoming versions of the extended-range plug-in. So it's a half-hearted secret, at best. GM actually has a "camouflage engineer" charged with creating ways to disguise the styling of new vehicles. In the Volt's case, the company is applying black and white swirly color patterns on top of the materials, such as plastics, vinyl and foam, that are used liberally across the body. It's all part of a teaser campaign that started last month with pictures of part the 2016 Volt. Earlier this month, GM said it was keeping track of Volt drivers' habits as it works on the next-gen model. The company noted that more than four out of five trips are being made in all-electric driving mode, and that 60 percent of Volt owners use a plain-old 100-volt outlet to recharge their cars. The car is slated to make its global debut at Detroit's North American International Auto Show next January, and the early word is that performance and all-electric range will be improved (we should hope so). The car will also be sleeker. By how much, we can't tell yet, because of those darn swirly patterns. GM's got more non-details in its press release below. Engineers charged with hiding styling while vehicle testing proceeds in public DETROIT – The styling of the next-generation Chevrolet Volt is one of the automotive world's best-kept secrets. Keeping customers and media eager to see the successor to the groundbreaking original at bay until the new Volt debuts at the North American International Auto Show in Detroit in January is tricky business. First, it is engineers, not designers, who are charged with creating camouflage that balances styling secrecy with the need to validate the Volt and its systems in public. "If it were up to me it would be a shoebox driving down the road," said Lionel Perkins, GM camouflage engineer. "The design team wants us to cover more of the vehicle and the engineering team needs to have enough of the vehicle's weight and aero exposed so that the tests in the development process are consistent with the product that will come to market." The engineers responsible for the "cool" designs covering the car might deserve style points but their efforts are intended strictly to hide the metal beneath.