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GM sees 'strong year' in 2018, then gold in Chevy Silverado for 2019

DETROIT — General Motors said on Tuesday it expects earnings in 2018 to be largely flat compared with 2017, but that profits should pick up pace in 2019 as its revamped line of high-margin pickup trucks hits the U.S. market. The 2018 earnings outlook was above market expectations, sending GM shares up more than 3 percent in premarket trading. "GM had a very good 2017 as we continued to transform our company to be more focused, resilient and profitable," GM Chief Executive Mary Barra said in a statement. "We are positioned for another strong year in 2018 and an even better one in 2019." GM and its Detroit rivals, Ford and Fiat Chrysler Automobiles, are bringing on new trucks at a time when overall U.S. new vehicle sales have been falling, but truck sales continue to grow as consumers abandon passenger cars in favor of pickups, SUVs and crossovers. GM on Saturday fired a new round in the battle for profits from one of the U.S. auto industry's most lucrative segments when it showed a new generation of its Chevrolet Silverado pickup truck at the Detroit auto show. The new Silverado, a highlight of the event, is the successor to GM's best-selling vehicle in North America. Sales of the current Silverado rose nearly 2 percent to 585,000 vehicles in 2017. In the coming months, the company will also reveal a revamped GMC Sierra pickup truck. U.S. new vehicle sales fell 2 percent in 2017 after hitting a record high in 2016, and are expected to drop further in 2018 as interest rates rise and more late-model used cars return to dealer lots to compete with new ones. GM said on Tuesday that while it retools a factory in Ft. Wayne, Indiana, to make the new pickup trucks, it will shift some production to an Oshawa, Ontario, plant in order to avoid missing sales in a hot market for the vehicles. The No. 1 U.S. automaker said it will record a $7 billion non-cash charge for its fourth-quarter 2017 earnings related to deferred tax assets. GM said it expects capital expenditure in 2018 of around $8.5 billion, about $1 billion of which will go toward funding self-driving car technology. Last week, the company said it is seeking U.S. government approval for a fully autonomous car — one without a steering wheel, brake pedal or accelerator pedal — to enter the automaker's first commercial ride-sharing fleet in 2019. GM said it expects 2017 earnings per share at the high end of its previously forecast range of $6 to $6.50.

GM pauses 3.0-liter turbodiesel production due to a supplier shortage

General Motors confirmed it has temporarily stopped taking orders for trucks and SUVs equipped with the 3.0-liter Duramax turbodiesel six-cylinder engine. It blamed the last-minute pause on a supplier-related shortage. Website TFL Truck first reported the news, and a representative from General Motors quickly confirmed it. The spokesperson explained the issue is due to a "temporary part shortage" and added that production will resume "as soon as possible," meaning the Duramax engine (which is called LM2 internally) is not going away permanently. Additional details are not available, so we don't know if the issue is related to the ongoing chip shortage. Rather than delay deliveries and create a backlog, General Motors is reportedly asking its dealers to encourage buyers who want a turbodiesel engine to instead select either the 5.3-liter V8 or the 6.2-liter V8, depending on the model selected. Both are gasoline-powered units. There's no word yet on when Duramax production will resume. The shortage affects several models, including Chevrolet's Tahoe, Suburban, and Silverado 1500 and GMC's variants of these trucks. Cadillac's Escalade is temporarily diesel-less as well. Heavy Duty variants of the Silverado and the Sierra are not affected because they're powered by a different Duramax engine with eight cylinders. Motorists seeking a full-size SUV powered by an efficient turbodiesel engine are temporarily out of options because the Tahoe/Yukon and the Suburban/Yukon XL had the segment to themselves. The Duramax was surprisingly popular, too: in May 2021, GM Authority reported that the turbodiesel straight-six represented 8% of Suburban sales and 6% of Tahoe sales. Installed in a rear-wheel-drive Tahoe, the engine returns 21 mpg in the city, 28 mpg on the highway, and 24 mpg in a combined cycle, figures that make the body-on-frame behemoth more efficient than the unibody, front-wheel-drive Chevrolet Blazer that's 20 inches shorter and approximately 1,700 pounds lighter. Related video: 2021 Chevrolet Tahoe 3.0L Duramax engine

GM to build next-gen Chevy Cruze in Mexico

As one of its global products, General Motors builds the Chevy Cruze for local consumption at assembly plants around the world: in Australia, South Korea, Vietnam, Thailand, China, India, Kazakhstan, Russia, Brazil and Ohio. The automaker is expected to trim those locations for the next generation of its compact sedan, but its latest announcement has it adding a new site to the list: Mexico. As part of a $350-million investment, GM's plant at Ramos Arizpe in Coahuila will gear up for production as one of several sites that will be charged with building the next-gen Cruze. The General has yet to announce just which plants those will be, but it has confirmed that the Lordstown, Ohio, site will once again be among them. The plant in St Petersburg, Russia, which has produced the current Cruze, is being shut down, as is the Holden plant in Elizabeth, Australia. The Ramos Arizpe assembly plant currently puts together the Chevy Sonic and Captiva as well as the Cadillac SRX, but has over the course of its 34-year history handled a variety of models for the Chevy, Pontiac, Buick, Cadillac, Saturn, Opel and even Saab brands. The site handles a quarter of GM's production in Mexico, and exports 87 percent of its capacity to other markets. Invertira GM 350 mdd en Ramos Arizpe para fabricar siguiente generacion de Chevrolet Cruze 2015-03-23 - Se consolida GM de Mexico como el sexto productor global de vehiculos para General Motors Company Ramos Arizpe, Coahuila - General Motors de Mexico anuncio este dia que invertira 350 millones de dolares en su Complejo de Manufactura Ramos Arizpe, para fabricar en estas instalaciones la siguiente generacion del modelo Chevrolet Cruze. "Esta inversion, que forma parte de los 5 mil millones de dolares anunciados en diciembre pasado para todo el pais, fortalecera la presencia de GM Ramos Arizpe en la produccion de nuestra compania a nivel mundial y, por supuesto, consolidara a Mexico como el sexto productor de automoviles para GM Company, con el 7% de la produccion global", informo Ernesto M. Hernandez, Presidente y Director General de GM de Mexico. En una reunion de trabajo en la que participaron Ruben Moreira, Gobernador del Estado de Coahuila y Rogelio Garza, Subsecretario de Industria y Comercio del Gobierno Federal, el Presidente de General Motors en el pais aseguro que el Complejo GM Ramos Arizpe se ha consolidado como un iman para las inversiones de la compania a nivel global. Adicionalmente, Ernesto M.