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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

Dale Earnhardt, Jr. puts his Callaway Corvette and '55 Chevy on eBay

Dale Earnhardt, Jr. has put a couple of his personal cars up for sale on eBay. The first is a 1955 Chevy Bel Air that Junior had reworked by Funkmaster Flex, a bit of a diversion from Flex's more common Ford efforts. Junior's ride has a replacement chassis from Jim Meyer Racing, a 434 small-block tuned by Sharioff Racing to 500 horsepower, and truly thin rubber on what appear to be aluminum billet rims with Junior's former number 8 on the center caps. The interior is all custom and painted to match the outside, and those seats have been completely reupholstered. The second car is a 1999 Callaway C12, the 18th of 19 C12s built that year and featured in a 2002 issue of AutoWeek. It joined Earnhardt's private collection in 2004. Built on the base of a C5 Chevrolet Corvette and using a lot of technical know-how from Callaway's European racing program, the BMW #287 Blue Pearl C12 had its V8 bored out to 6.2 liters and graced with Callaway's Supernatural upgrade; it also has a Callaway coil-over suspension with adjustable dampers. There's new bodywork all around, and when new it cost about $200,000. At the time of writing bidding on the Bel Air was up to $80,100, the C12 was at $63,100. The auction ends Monday morning, and the winning bidders have the option of having their prizes autographed and retrieving the keys from Dale Jr himself if they're willing to go to Moorseville, NC. Featured Gallery Dale Earnhardt Jr. '55 Chevy Bel-Air View 28 Photos Related Gallery Dale Earnhardt Jr. Callaway C12 View 24 Photos News Source: Dale Earnhardt Jr via eBay [1], [2] Aftermarket Celebrities Chevrolet Auctions Coupe Luxury Special and Limited Editions Performance Classics eBay callaway callaway corvette Chevy Bel Air

2016 Chevy Corvette Z06 C7.R Edition brings track style to the road

The Chevrolet Corvette has a long history of excelling at endurance racing, and continues to dominate today. To celebrate that legacy, Chevy is bringing some of the look of its track machine to the road with the 2016 Corvette Z06 C7.R Edition. These machines might be gone faster than the racecar's lap time around Le Mans, because the company is building just 500 of them. All of these track-inspired, special editions are based on the 650-horsepower, supercharged Z06 in the top 3LZ trim, and they also come equipped with the Z07 Performance Package that includes carbon-ceramic brakes, adjustable aero elements, and Michelin Pilot Sport Cup 2 tires. Offered as a coupe or convertible, these 'Vettes use some tricks to match the style of the C7.R. They're available in the racer's traditional bright yellow livery, but black is optional. Unpainted carbon fiber trim (including material for the hood) and grilles that are painted Spectra Gray Metallic also add to the motorsport look. The car rides on a set of black wheels with Corvette Racing logos on the center caps. Inside, buyers of this limited edition are nestled in Competition Sport Seats that are upholstered in Jet Black leather. Suede microfiber accents with yellow stitching cover the steering wheel, gearshift, instrument panel and doors. Plus, there's some additional carbon fiber trim for good measure. Each car also comes with a cover with C7.R graphics. Chevy isn't disclosing the price for the Z06 C7.R Edition yet, but the limited edition model is slated to hit the market later this year. Related Video: CHEVROLET INTRODUCES 2016 CORVETTE Z06 C7.R EDITION 24/04/15 Track-to-street connection honored with limited production model BOWLING GREEN, Ky. – Chevrolet today introduced the 2016 Corvette Z06 C7.R Edition – a road-going, track-capable homage to the Corvette Racing C7.R racecars. It's offered in Corvette Racing's signature yellow livery – or black – with coordinated exterior and interior accents. Only 500 examples of the C7.R Edition will be built and all will include the Z07 Performance Package with carbon ceramic brakes, as well as a specially serialized vehicle identification number. They go on sale later this year. "Corvette Racing's legacy and technology were significant influences on the development of the Corvette Z06 and the new C7.R Edition honors the direct link between the racecar and the production model," said Harlan Charles, Corvette product and marketing manager.