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GM earnings rise 1% as buyers pay more for popular pickups

DETROIT — General Motors said Thursday that higher prices for popular pickup trucks and SUVs helped overcome slowing global sales and profit rose by 1% in the second quarter. The Detroit automaker said it made $2.42 billion, or $1.66 per share, from April through June. Adjusting for restructuring costs, GM made $1.64 per share, blowing by analyst estimates of $1.44. Quarterly revenue fell 2% to $36.06 billion, but still beat estimates. Analysts polled by FactSet expected $35.97 billion. Global sales fell 6% to 1.94 million vehicles led by declines in North America and Asia Pacific, Middle East and Africa. The company says sales in China were weak, and it expects that to continue through the year. In the United States, customers paid an average of $41,461 for a GM vehicle during the quarter, an increase of 2.2%, as buyers went for loaded-out pickups and SUVs, according to the Edmunds.com auto pricing site. The U.S. is GM's most profitable market. Chief Financial Officer Dhivya Suryadevara said she expects the strong pricing to continue, especially as GM rolls out a diesel pickup and new heavy-duty trucks in the second half of the year. "We think the fundamentals do remain strong, especially in the truck market," she said, adding that strength in the overall economy and aging trucks now on the road should help keep the trend going. Light trucks accounted for 83.1% of GM's sales in the quarter, and pickup truck sales rose 8.5% as GM transitioned to new models of the Chevrolet Silverado and GMC Sierra, according to Edmunds, which provides content to The Associated Press. As usual, GM made most of its money in North America, reporting $3 billion in pretax earnings. International operations including China broke even, while the company spent $300 million on its GM Cruise automated vehicle unit. Its financial arm made $500 million in pretax income. Suryadevara said GM saw $700 million in savings during the quarter from restructuring actions announced late last year that included cutting about 8,000 white-collar workers through layoffs, buyouts and early retirements. The company also announced plans to close five North American factories, shedding another 6,000 jobs. About 3,000 factory workers in the U.S. whose jobs were eliminated at four plants will be placed at other factories, but they could have to relocate. GM expects the restructuring to generate $2 billion to $2.5 billion in annual cost savings by the end of this year.

Chevy Volt 'Drive My Way' test cuts out the dealership

Last month, the 2016 Chevrolet Volt won the 2016 Green Car of the Year Award at the Los Angeles Auto Show. Awards are nice, but General Motors is now offering to make some folks' familiarity with the second-generation Volt a little more personal. Chevy is enacting what it calls the "Drive My Way" program, where the automaker brings a 2016 Volt directly to some prospective buyers for a 30-minute test drive with no dealer required, according to Hybrid Cars. Kind of like Tesla, only different. RedCap Valet is administering the program and is helping to track drivers' behind-the-wheel behavior, including keeping records on speed, acceleration, and braking habits. General Motors representatives didn't respond to a our request for further details about how many people will be chosen for the program or how these folks were picked to participate in "Drive My Way." Through November, the Volt's sales were down 23 percent from a year earlier to about 13,000 units, so any momentum for the 2016 version is a good thing. If you're just looking for numerical improvements, the new version has got you covered. It can go as far as 53 miles on electricity alone (about 15 miles further than the previous generation model) and it's got better miles per gallon and MPGe ratings as well. Of course, numbers alone aren't usually enough sell a car. Experience counts. So we ask, dear readers, if having a 2016 Volt brought to you for a half-hour test drive might make it more likely that you'll buy one of these extended-range plug-in vehicles. While you're waiting for a new Volt to arrive at your house, you can take a look here for our First Drive review. Related Video: Featured Gallery 2016 Chevrolet Volt: First Drive View 24 Photos News Source: Hybrid Cars Green Chevrolet GM test drive volt extended-range plug-in

Crash victim found still inside car 6 hours after it was towed away [w/video]

Police near Dayton, OH, have quite a confusing case on their hands after the victim of a crash early on New Year's Day couldn't initially be found. Six hours later, the man was discovered lying on the vehicle's floorboard at the tow yard. The unidentified person was admitted to a local hospital in critical condition with possible leg injuries. The police first responded to the scene of the crash around 3:00 am on New Year's Day when a Chevrolet Impala hit a utility pole and drove through a fence, according to WHIO News. The authorities claim that they searched for the man for an hour and a half and came up with nothing. The car was then hauled away to the yard, which was only about 500 feet away. The tow yard worker found the man around 9:00 am and called 911. However, he was clearly dubious about the injured man's predicament and suggested to the operator that he might have returned to the Impala. Police are still investigating the incident. According to WHIO, authorities might have somehow missed the man in the sedan during the search. Alternatively, he could have left the scene of the accident and later returned. Watch the video below for more about this bizarre case. The video meant to be presented here is no longer available. Sorry for the inconvenience. News Source: WHIO via Yahoo Autos Chevrolet Police/Emergency Videos Sedan