2014 Chevrolet Silverado 1500 Ltz on 2040-cars

Auto blog

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.

2019 Los Angeles Auto Show | Autoblog Podcast #605

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder and Associate Editor Zac Palmer. This week, the main topic of discussion is the 2019 Los Angeles Auto Show. Of course, they've gotta talk about the Ford Mustang Mach-E — and its questionable naming scheme. They also run down some other L.A. show highlights including the Toyota RAV4 Prime, Kia Seltos, Lexus LC 500 Convertible and Audi RS Q8. Then they talk about the cars they've been driving: the 2020 Chevy Silverado with the Duramax diesel engine and the 2020 Subaru Legacy Touring XT. Autoblog Podcast #605 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown L.A. Auto Show 2021 Ford Mustang Mach-E (and here's a little more about the name) 2021 Toyota RAV4 Prime 2021 Kia Seltos 2021 Lexus LC 500 Convertible 2020 Audi RS Q8 2020 Chevy Silverado Duramax 2020 Subaru Legacy Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video:

2022 Detroit Auto Show Editors' Picks

As tends to be the case in this post-ish-pandemic world of auto shows, the North American International Auto Show was a strange one. It was at least mostly indoors and thus not at the mercy of Mother Nature. And unlike that first Chicago Show following the initial pandemic shutdown, this one was all assembled before the media arrived. Even with a much thinner show floor, the Detroit Auto Show still gave us a number of noteworthy reveals. Now, full disclosure, the rules for our Detroit picks were made a little more flexible, since some of these vehicles were revealed a little before the week of the show. But we still focused on vehicles that were making their show debut, and were actually present on the floor. Sadly, that means we had to leave out the Jeep Recon and Wagoneer S electric SUV concepts. Odds are, those would've made it into our list of the top five if they had actually been on display. Now, on to the winners. 2023 Jeep Wrangler Willys 4xe View 18 Photos 5. 2023 Jeep Wrangler Willys 4xe This was an easy one. While there's nothing so remarkable about the Willys that it makes this package a must-buy, it's nice to see another model available with the 4xe powertrain. Just one question, though: Where was the Recon? – Byron Hurd Chevrolet Blazer EV View 7 Photos 4. 2024 Chevy Blazer EV As a fan of the K5 and S-10 Blazer generations, I was a bit bemused when the current-gen crossover came out ... until I drove it and realized how good it actually is. Now that there's a Blazer EV incoming, I feel like I can become a true fan again. And there's a lot for fans to appreciate: FWD, RWD and AWD versions, and even a 557-horsepower SS variant. In a lineup of practical, Ultium-based Chevy utes, it's good to see an attainable product that enthusiasts can get behind — along the lines of Ford with its Mustang Mach-E — while we wait for an electric Corvette. — Senior Editor, Green, John Beltz Snyder 2023 Chrysler 300C View 28 Photos 3. 2023 Chrysler 300C In a poignant press conference with the Spirit of Detroit statue in the background, Chrysler sent its flagship 300 out properly with a 6.4-liter Hemi V8. Stellantis design chief Ralph Gilles articulated the car's successes — its many awards and sterling reviews from its early days — and the cover came off with a veritable 300C hot rod on display. One more time, the 300 is at full strength. To be clear, this isn't the 300S with an available 5.7-liter.