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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.

Chevy 'committed to marketing Bolt the right way'

The 2015 edition of the annual AltCar Expo in Santa Monica, CA in September was a relatively quiet affair. Attendance felt light compared to previous years. But that didn't mean there wasn't something happening that might have just as big an impact on the plug-in scene as anything that's ever happened in previous years at the Santa Monica Convention Center. I say this because of what GM's Shad Balch told me about Chevy's plans to market the upcoming Bolt electric car. This is GM's next-gen electric vehicle, which will have a roughly 200-mile range and may cost about $30,000 after tax incentives (maybe). To say he's excited to start selling this car is an understatement. Set aside the obvious challenge Chevy will have with cars named both the Volt and the Bolt, especially when some languages exchange the pronunciation of the letters B and V. Set aside the fact that, for now, Balch is dealing with his own company actively advertising against the product he's trying to get people excited about. Balch, GM's manager of new product and public policy communications, is tremendously positive about the Bolt's chances in the marketplace when it arrives in 2017 or 2018. "Driving an EV is, in every proof point, better than a gas-powered car, except for charging." - Shad Balch AltCar and the concurrent National Drive Electric Week represented the Bolt's West Coast debut, and Balch told me that the car's arrival in California shows how "Detroit recognized that they need to send it out to their number one market." The car's appearance outside of the Motor City was "The most encouraging part for us out here, being in the market ... to be able to explain that we are committed to marketing this car the right way. ... We're trying to make that known as much as possible, because that is the number one criticism that we hear. That's why events like these are so important, because we can't wrap up into a 30-second spot what these cars are capable of. I can't even explain it to you in 10 minutes what it's like. But the thing is, driving an EV is, in every proof point, better than a gas-powered car, except for charging." Now, there's a fairly decent chance that GM will hit the 250,000-vehicle limit for the $7,500 federal tax incentive right about when the Bolt comes to market, so I had to ask how the Bolt gets marketed if the price tag jumps up a few thousand dollars. Balch was straightforward. "Well, we would sell fewer cars," he said. "It's pure and simple. ...

Chevy Volt sales drop in June, Nissan Leaf inches upwards

Different month, same story. That's the gist of the monthly US sales numbers from the Chevy Volt and the Nissan Leaf. These were the first two mass-market plug-in vehicles to go on sale in the US and we've been comparing their sales numbers for what seems like ages now. So far, the 2014 tale of the tape shows the all-electric once again trumping the plug-in hybrid. The last time the Volt outsold the Leaf was in October 2013. Chevrolet sold 1,777 Volts in June. That was good enough to be the Volt's best sales month of the year, but it's down 34 percent from the 2,698 units sold in June 2013. In fact, it's on par with the 1,760 Volts sold in June 2012. Given the steady sales, General Motors might need to push up the release of the next-gen Volt to gin up excitement, especially if it also offers some of the things that current Volt drivers say they want improved: more range, a lower price and a fifth seat. GM also said it sold 85 Spark EVs in June, an increase of 215 percent over June 2013 Nissan sold 2,347 Leafs last month. The good news continues for Nissan, which says it sold 2,347 Leafs last month. That's an increase of 5.5 percent over 2013 numbers and makes 2014 the best June ever for Leaf sales. Let's credit Texas. Toby Perry, Nissan's director of EV sales and marketing, said in a statement that, "Since the Texas state incentive went into effect in May, we've seen a big jump in Leaf sales in the Austin, Dallas and Houston markets. Our dealers are telling us that they saw more traffic in their stores, and they had their best Leaf sales performance in the last weekend in June." Even with that increase, Atlanta remains the top Leaf market. Nissan has sold 12,736 Leafs in the US so far this year; Chevy 8,615 Volts. Our detailed monthly sales write-up of green cars in the US, including plug-in vehicles, hybrids and diesel cars, is coming soon. For now, we invite you to discuss these numbers in the Comments. Related Gallery 2013 Nissan Leaf View 55 Photos News Source: GM, Nissan Green Chevrolet Nissan Electric Hybrid PHEV ev sales