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Submit your questions for Autoblog Podcast #316 LIVE!

We record Autoblog Podcast #316 tonight, and you can drop us your questions and comments regarding the rest of the week's news via our Q&A module below. Subscribe to the Autoblog Podcast in iTunes if you haven't already done so, and if you want to take it all in live, tune in to our UStream (audio only) channel at 10:00 PM Eastern tonight.
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2013 Detroit Auto Show

GM profit dips on truck changeover, but beats estimates

DETROIT — General Motors on Thursday reported a higher-than-expected quarterly profit despite a drop in production of high-margin pickup trucks, as it gears up for new models that are expected to boost profits next year. Like rivals Ford and Fiat Chrysler Automobiles, GM is banking on highly-profitable Chevy Silverado and GMC Sierra pickup trucks to lift profits, as consumers shift away from traditional passenger cars in favor of these larger, more comfortable trucks, SUVs and crossovers. During the first quarter, the process of changing over to GM's new pickups resulted in a drop in production of 47,000 units. GM Chief Financial Officer Chuck Stevens said the production drop had resulted in a drop in pre-tax profit of up to $800 million. Earlier this year, GM said its 2018 profits would be flat compared with 2017, but expected its all-new pickup trucks would boost margins starting in 2019. On Thursday, GM reiterated its full-year 2018 forecast for adjusted earnings in a range from $6.30 to $6.60 per share. The automaker said capital expenditures were more than $500 million higher in the quarter because of investments its new pickup trucks and a family of low-cost vehicles under development with Chinese partner SAIC Motor Corp. On Wednesday, rival Ford said it would stop investing in most traditional passenger sedans in North America. CFO Stevens told reporters on Thursday that GM has "already indicated that we will make significantly lower investments on a go-forward basis" in sedans. 2019 GMC Sierra View 21 Photos GM benefited from a lower effective tax rate in the quarter, but adjusted pre-tax margin fell to 7.2 percent from 9.5 percent a year earlier. Stevens said the company's profit margin should hit 10 percent or higher in the second quarter and for the full year. GM said material costs were $700 million higher in the first quarter, and it expects those costs to continue rising. The automaker said it would counter those increases with cost cutting measures. "It is a more difficult environment than it was three or four months ago," Stevens said when asked about rising commodity prices from potential steel and aluminum tariffs announced by the Trump administration. "But we are confident we can continue to offset that." The company reported quarterly net income of $1.05 billion or $1.43 per share, a drop of nearly 60 percent from $2.61 billion or $1.75 per share a year earlier. Analysts had on average expected earnings per share of $1.24.

Nissan Leaf, Chevy Volt have best sales month of 2015

Things are trending upwards for the two best-selling plug-in vehicles in the US. Both the Chevy Volt and the Nissan Leaf had their best sales month of 2015 in May, with the Volt selling 1,618 units and the Leaf moving 2,104. The upward swings come at an interesting time, with lots of excess first-gen Volts waiting for buyers and some buyers already ordering their second-gen Volts. So far in 2015, the Leaf has outsold the Volt 7,742 to 4,397. While 7,700 Leafs is respectable, it's nowhere near the numbers that Nissan will have to hit to reach the 50,000 annual sales that CEO Carlos Ghosn says is possible in the US. Still, the Leaf had its best sales month since December 2014 (when it sold 3,102 units) in May, but last month was still down 32.5 percent compared to May 2014. Despite the smaller overall number, May represents a big positive for Chevy, which has seen sluggish sales for the Volt for a long while now. The 1,618 Volts sold last month are only 3.9 percent lower than the 1,684 sold in May 2014 and May 2015 was the best month for Volt sales since August 2014. Perhaps salesmen are ready to make deals, what with thousands sitting around on dealer lots right now. The next-gen Volt is due this fall, and the order books (in California, at least) opened up this week. Like every month, our full wrap-up of green car sales in the US is coming soon (the VW e-Golf, for example, hit a best-ever high of 410 sales). Until then, feel free to discuss the Volt and Leaf sales figures in the Comments. Green Chevrolet Nissan Electric Hybrid ev sales hybrid sales