1999 Chevrolet Camaro Ss on 2040-cars

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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.

2016 Chevrolet Camaro First Drive [w/video]

The Autoblog gang was downright stoked to learn the 2016 Chevy Camaro was next on our test-car docket. Then we found out it was the V6 model. Buzzkill. We were hoping for the snorting V8, or at least the spunky new turbo four-cylinder. The V6? Meh. We've been driving V6 Camaros for, like, six years. It's what you buy if you can't afford anything better, or so say horsepower snobs as they wrinkle their noses and cut their coffee with 93 octane. But after a week with the six-pot Camaro, we'll admit it: we were wrong. The all-new 3.6-liter V6 is strong, sounds good, and is damn fun to drive. Its 335 horsepower and 284 pound-feet of torque appear modest by modern standards, but they power the Camaro to 60 miles per hour in 5.1 seconds with the automatic, or in the case of our manual-equipped test car, 5.2 seconds. That's almost half a second quicker than the new turbo four-cylinder model. Yes, it has the same displacement as the old V6. No, it's not the same engine. Upon closer inspection, the V6's potency shouldn't come as a surprise. This engine is from General Motors' newest family of dual-overhead cam powerplants that launched in the Cadillac CTS and ATS. Yes, it has the same displacement as the old V6. No, it's not the same engine. Don't be fooled, and don't underestimate it at stoplights. The strapping V6 is unsuspectingly good, but it's just one of many improvements for the sixth-generation Camaro. Chevy's coupe is lighter, faster, and more modern looking inside and out. It starts with a rear-wheel-drive chassis donated from the Cadillac ATS, though about 70 percent of the components are unique to the Camaro. The 2016 model is about two inches shorter in length (thanks to a shorter wheelbase) and about an inch has been removed from height and width compared to the 2015 model. These lighter underpinnings jumpstarted the Camaro's weight-loss plan, and thanks to extensive use of aluminum, the V6 with the new eight-speed automatic transmission weighs 3,435 pounds – 294 less than its predecessor (the manual-transmission V6 Camaro weighs 3,448 pounds). The V8, meanwhile, sheds 223 pounds. One by one, these elements would merely enhance how the Camaro drives, but taken collectively, they invigorate the new model. It feels much more confident and agile in all circumstances. Put simply, it's a sportier car. View 32 Photos Grab second, let the revs build, and the dual-mode exhaust changes its tune from a low buzz to a rumble, then a growl.

GM's Ultium EV platform finally shows up in Q3 sales numbers

General Motors has heralded its Ultium battery-electric platform as the future of its passenger car and truck lineup, but for the first two years of its existence, its impact on the marketplace has been virtually nonexistent. Well, that finally changed in the third quarter of 2023, and while the cars based on this architecture don't represent anywhere near the volume of GM's broader combustion portfolio, we're reaching a point where Ultium products are finally in view (and in the hands) of real-world shoppers. At this point, five U.S.-market Ultium models are in production: the GMC Hummer EV, Cadillac Lyriq, Chevrolet Blazer & Silverado EV, and BrightDrop Zevo 600. If you're not familiar with that last one, that's OK; it's a commercial product that you likely won't see on the road for some time. Together, these four combined for 4,257 sales in the third quarter alone — up from 2,663 for the entire first half of the year. While that may not seem like a significant uptick when viewed from altitude, the quarter-to-quarter numbers paint a clearer picture.  Let's toss out the stragglers first. The Chevy Blazer EV, and Silverado EV for example, are barely in production. GM delivered 19 Blazers and 18 Silverados in the third quarter and that's the entirety of their production runs so far. Likewise, GM's BrightDrop Zevo 600 delivery van effectively exists apart from the consumer marketplace, so its contribution of just 35 units can be set aside too. That leaves us the two you've heard of: the GMC Hummer EV and Cadillac Lyriq — models with high sticker prices and long reservation queues.  Through the second quarter (remember, we're talking six months here), GMC sold 49 Hummer EVs. No typo. In the three months that made up the third quarter, GM moved 1,167 of them. Not only is that a dramatic improvement over the first half, but it's more Hummers than GMC sold in the entirety of 2022 (854). Lyriq's improvement was less eye-popping on paper, but after moving just 122 total units in 2022 and 2,013 of them in the first half of 2023, Cadillac managed to up that figure to 3,018 units in the third quarter alone.  GM is betting its short-term EV future on the Ultium platform, so these trends need to continue if that's going to be a profitable wager.