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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.

Autoblog Minute: 2015 SEMA Show recap

We take a trip to Las Vegas for a recap of the 2015 SEMA show, the trade show for automotive aftermarket professionals and enthusiasts. Autoblog's Eddie Sabatini reports on this edition of Autoblog Minute. Featuring commentary from Senior Editor Greg Migliore. Additionally, we've got our full roundup of SEMA Show coverage, below. Have a look through our collection of posts, and scroll down for the full Autoblog Minute transcript. Show full video transcript text [00:00:00] We take a trip to Las Vegas for a preview of SEMA, the trade show for automotive aftermarket professionals and enthusiasts. I'm Eddie Sabatini and this is your Autoblog Minute. Mazda, Ford, Chevy, Mopar, Roush, and Galpin are just a few of the industry names on hand at this premier tuner show. For a closer look at this year's action we go to Autoblog Senior editor, Greg Migliore: [00:00:30] - [00:01:00] [Greg Migliore Interview] For our full coverage of the 2015 SEMA Show head to Autoblog.com/sema. [00:01:30] For Autoblog I'm Eddie Sabatini. Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals. SEMA Show Chevrolet Ford Honda Concept Cars Autoblog Minute Videos Original Video SEMA 2015

Chevy reveals new IndyCar aero package

The IndyCar Series is not one that demands its participating teams and automakers to design their own chassis as they do in Formula One, but for this season, the organizers have opened it up to allow for custom aero packages. What you're looking at here is the new look of the chassis to be fielded by teams running under Chevy power. Based on the Dallara DW12 chassis – introduced three years ago and named after the late Dan Wheldon – Chevy's new package is designed for road courses and short ovals, with the speedway configuration to be revealed later. The kit features new wings front and rear and more sculpted side pods. It's also got new wedges at the back to envelop the otherwise open wheels that are a hallmark of Indy racing, a more streamlined engine cover and bigger rear bumper pods. The new package will debut at the Grand Prix of St. Petersburg that will kick off this year's championship in Florida on March 29, followed by the road-course grands prix in Louisiana, Long Beach, Alabama and Indianapolis before the new package needs to be ready for the Indy 500 late in May. Half of the teams on the starting grid this season will be running under Chevy power and are expected to use this new aero kit, with the remaining Honda teams slated to run a different package of their own. Chevrolet Debuts All-New 2015 IndyCar Aero Package Chevy-developed bodywork delivers improved aerodynamics 2015-02-17 INDIANAPOLIS – Chevrolet-powered racecars in the 2015 Verizon IndyCar Series will feature Chevrolet-developed aero packages. Chevrolet introduced the road course/short oval body design today at the Indianapolis Motor Speedway. It is distinguished from the previous racecar with new front wing elements, sculpted side pods and a new rear wing. A speedway configuration for the aero kit, designed for high-speed ovals, will be introduced ahead of its competitive debut at Indianapolis in May. "This is an important milestone in Chevrolet's involvement in IndyCar racing," said Jim Campbell, General Motors U.S. vice president of Performance Vehicles and Motorsports. "We focused on developing an aerodynamic package that delivers an balanced combination of downforce and drag, along with integrated engine performance. It's a total performance package." The new Chevy road course aero configuration delivers greater aerodynamic performance than the previous design.