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GM posts $4 billion third-quarter profit thanks to trucks and SUVs

DETROIT — General Motors is posting huge third quarter numbers, pulling in $4 billion in profit over three months after losing money due to the virus outbreak. GM's adjusted earnings were $2.83 per share, easily outpacing Wall Street's per-share projections of $1.43, according to a survey by FactSet. Revenue of $35.5 billion also edged out most expectations. Shares jumped almost 6% before the opening bell Thursday. The company swung back from a $806 million loss in the second quarter, when it was restarting factories shuttered for safety during the early stages of the pandemic. The Detroit automaker joined most global automakers in reporting better-than-expected earnings from July through September as sales across the globe started to rebound from coronavirus lockdowns, especially in China. GM sales in China jumped 12% in the third quarter, with sales of its Buick and Cadillac brands both rising more than 25%. In the U.S., GMÂ’s most profitable market, sales fell 9.9% in the third quarter compared with a year ago, but were a dramatic improvement over the 34% drop in the second quarter. Sales improved sequentially each month, the automaker said, an encouraging trend. GMÂ’s profit was boosted by higher-priced pickup trucks and large SUVs, which have seen strong sales in the U.S. through the pandemic. It was the best quarter on record for GM's Chevrolet Blazer. Sales of the Cadillac XT6 spiked 45% in the U.S. over last year. Large pickups also sold well. GM also said it was pumping $2 billion into its Spring Hill, Tennessee manufacturing plant to push its transition to produce electric vehicles. Last week, crosstown rivals Fiat Chrysler and Ford reported strong third-quarter net income. FCA said it made $1.4 billion for the period, while Ford earned $2.39 billion. Related Video: Earnings/Financials Buick Cadillac Chevrolet GM GMC

GM diesel pickups first to undergo extra EPA, CARB testing

The effects of Volkswagen's long-running diesel emissions evasion are starting to spill over to other automakers, but General Motors is taking things in stride. The 2.8-liter, four-cylinder Duramax in the 2016 Chevrolet Colorado and GMC Canyon is the first engine to get extra scrutiny by the Environmental Protection Agency and the California Air Resources Board, Automotive News reports. Rather than just the usual in-lab test, it's also being checked on the road. However, the extra evaluation shouldn't have any impact on when the trucks with his mill hit dealers later this fall. "We're in our final stages of the EPA certification, and our launch is on track," Chevy spokesperson Otie McKinley tells Autoblog. The four-cylinder diesel in the trucks makes 181 horsepower and 369 pound-feet of torque, and the automaker is touting low NOx production. In the announcement for the Colorado's specs, the company calls it "the cleanest diesel truck engine ever produced by General Motors." The tech includes exhaust gas recirculation to lower combustion temperatures and improve emissions. There's also a urea tank like on the bigger diesels for full-size trucks, and it gets refilled in time with oil changes. An indication on the instrument panel lets drivers know when that's needed, too. Even with the more demanding testing, the company doesn't seem too worried about the four-cylinder passing. "Part of our development process is on-road and off-road [laboratory] testing," Scott Yackley, Chevy Trucks assistant chief engineer, said to Automotive News. In the wake of the VW scandal, the EPA has pledged more rigorous testing. Before, on-road emissions evaluations were largely limited to heavy-duty vehicles, but the agency has decided to apply the checks more often to other models. There's also now greater cooperation with Canadian authorities.

Recharge Wrap-up: Tata unveils tiny H2 vehicle,Volt's new drivetrain explained

A new video explains the second-generation Voltec drivetrain in the 2016 Chevrolet Volt. The new Volt uses two planetary gear sets, a big difference from the first-gen Volt, which used just one. This opens up a multitude of various drive modes, and allows the engine to drive the wheels as well as the motor-generators. See the video above for the full, in-depth explanation, and read more at GM Authority. Coal power plants need to be retired to achieve air quality benefits from EVs. According to a study, EVs charged in coal-heavy regions produce more lifecycle emissions than gasoline vehicles. Depending on when they're charged, EVs with high-capacity batteries can be responsible for two to three times the amount of emissions as a hybrid car. In the near future, though, as coal plants are retired, this is expected to change. "When EV charging load is added to a power system, wind and solar plant output can't be turned up to respond because they are typically already fully utilized," says Jeremy Michalek, Professor of Engineering and Public Policy and Mechanical Engineering at Carnegie Mellon University. "Fossil fuel plants are the ones dispatched in response to new charging load. That's why the shift away from coal is so important for EVs." Read more at Green Car Congress. Tata has debuted the Magic Iris Ziva fuel-cell microvan at AutoExpo India. Replacing the Magic Iris' single-cylinder engine with a hydrogen-powered unit gives the Ziva 5 kW (6.7 hp) of power for normal driving, with a maximum output of 9 kW (12 hp) and 31 lb-ft of torque. It has room for five passengers, and features an eight-inch touchscreen display. Learn more at Green Car Reports. Related Gallery Tata Magic Iris News Source: GM Authority, YouTube: Alex on Autos, Green Car Congress, Green Car Reports Green Chevrolet Tata Motors Alternative Fuels Emissions Electric Hydrogen Cars Videos recharge wrapup