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GM says EVs are the future — but trucks are going to take it there

In the PowerPoint deck for the General Motors Capital Markets Day presentation, one of the more disturbing things comes early on, during GM President Mark Reuss' initial remarks, in an area where he is discussing the company's overall strength in trucks. The point being made is that GM has a truck for all and sundry. And there it is, a phrase on a slide that should send chills up the spines of those who still pine for the old Bob Seger "Like a Rock" Silverado ads: "Little bit country. Little bit rock 'n' roll." That's right. Donny and Marie. Somehow the Denis Leary snark in the F-150 ads is all the more appealing. The Capital Markets Day presentation was chock full of observations about electrification and automation (Reuss and CEO Mary Barra both noted that the corporation's vision is one of "Zero Crashes. Zero Emissions. Zero Congestion." Dan Ammann talked about the progress being made at Cruise Automation; Reuss rolled out the plan for an array of electrified vehicles, with a luxury EV and a compact SUV being the "Centroid Entries" for the modular bases of many others). But it is worth noting that there is no getting away from the power of pickups in the U.S. market, as that was the central topic in Chief Financial Officer Dhivya Suryadevara's comments, with "Truck Franchise" being flanked by "Key Financial Priorities" and "Financial Outlook." Clearly, to gloss the old phrase, the truck segment is where the money is. Suryadevra enumerated how the truck segment is significantly different than other types of light vehicles. Among her points: GM, Ford and FCA have more than 90% of market share. The truck parc has been growing and aging over the past 10 years. Customers are fiercely loyal to the segment—as in 70% of truck buyers are truck buyers. A good number of the vehicles are for commercial use (40 percent). Trucks are "less prone to. . .mobility disruption." Trucks offer high margins. Translaton: The segment is one that they're solidly positioned in. There are lots of old trucks on the road that will need to be replaced by new ones. Perhaps buyers may switch from a Sierra to a Canyon, but it will be a truck. If your livelihood depends on that type of vehicle, even if gas prices go up or the economy begins to go south, you're going to stick with it. Most of the country isn't San Francisco, so trucks will continue to be essential. And, well, they're profitable in the extreme.

Bob Lutz says Tesla remains 'fringe' brand

We've said it before, we'll said it again: Bob Lutz gives great quotes. From his toilet-themed opinion of global warming to Toyota's deity status, the man knows how to get your attention. His latest? Saying that Tesla Motors is and will remain a fringe brand. Take that, Tesla fanbois. This, of course, is the same fringe company that prompted Lutz and his former colleagues at General Motors to start working on the Chevy Volt around eight years ago. The same fringe company that has easily outsold the similarly priced (but don't call it a competitor) Cadillac ELR with its Model S. Lutz did clarify that the fringe status will only last until Tesla comes out with a mass-market electric vehicle that has a range of 200 to 300 miles. Lutz was on CNBC talking about the TSLA stock's recent performance, and he pointed out that even Tesla CEO Elon Musk says that the California automaker's stock is overvalued these days. Despite its prevalence around these parts, Tesla is not yet a household brand. But the company is working hard to get a cheaper, long-range EV to market in the not-too-distant future, so this fringe thing may not last much longer than that show Fringe did. Watch the video below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: CNBC via Green Car Reports Green Chevrolet Tesla Green Culture Electric Hybrid PHEV cnbc

Seized drug dealer's Corvette Z06 joins Texas police fleet

A police department in Texas caused a stir after they posted pictures of their hot new ride on social media last week. This 2007 Corvette Z06 with dark-tinted windows once belonged to a drug dealer, but was seized in a DEA raid. The feds awarded the Corvette to the New Braunfels Police Department for their help in bringing down the drug distribution ring in the area. When police posted images of the car on their Facebook page, some followers were angry that tax dollars were spent on such an extravagant car. New Braunfels PD were quick to defend themselves. "To be clear, this vehicle was awarded to NBPD as part of an asset distribution from the Federal DEA criminal case of a large drug distribution ring in our area," the New Braunfels PD wrote on their Facebook page. "NBPD was instrumental in helping bring down that drug enterprise. Property seized during the course of an investigation is only awarded to the law enforcement agency after a court has determined that the suspect was involved in criminal activity and the proceeds (money) from that activity (i.e dealing drugs) paid for the items seized. Therefore, no property is given to a law enforcement agency prior to the investigation being completed and tried in a court of law." With a 505 horsepower V8 engine this murdered-out Corvette could outrun most speeders and getaway drivers. As is often the case in instances such as this, however, the 'Vette will be used in community outreach programs rather than as an active-duty cruiser. The department is currently holding a contest asking kids between 8 and 16 years old to find a name for the sports car. Currently, the most liked name is 'Optimus Crime'. A final winner will be chosen by the department on September 22. The kid who picks the name will earn bragging rights, plus a ride in the Corvette when its unveiled at the Comal County Fair Parade this weekend. Related Video: