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GM posts $4 billion third-quarter profit thanks to trucks and SUVs

DETROIT — General Motors is posting huge third quarter numbers, pulling in $4 billion in profit over three months after losing money due to the virus outbreak. GM's adjusted earnings were $2.83 per share, easily outpacing Wall Street's per-share projections of $1.43, according to a survey by FactSet. Revenue of $35.5 billion also edged out most expectations. Shares jumped almost 6% before the opening bell Thursday. The company swung back from a $806 million loss in the second quarter, when it was restarting factories shuttered for safety during the early stages of the pandemic. The Detroit automaker joined most global automakers in reporting better-than-expected earnings from July through September as sales across the globe started to rebound from coronavirus lockdowns, especially in China. GM sales in China jumped 12% in the third quarter, with sales of its Buick and Cadillac brands both rising more than 25%. In the U.S., GMÂ’s most profitable market, sales fell 9.9% in the third quarter compared with a year ago, but were a dramatic improvement over the 34% drop in the second quarter. Sales improved sequentially each month, the automaker said, an encouraging trend. GMÂ’s profit was boosted by higher-priced pickup trucks and large SUVs, which have seen strong sales in the U.S. through the pandemic. It was the best quarter on record for GM's Chevrolet Blazer. Sales of the Cadillac XT6 spiked 45% in the U.S. over last year. Large pickups also sold well. GM also said it was pumping $2 billion into its Spring Hill, Tennessee manufacturing plant to push its transition to produce electric vehicles. Last week, crosstown rivals Fiat Chrysler and Ford reported strong third-quarter net income. FCA said it made $1.4 billion for the period, while Ford earned $2.39 billion. Related Video: Earnings/Financials Buick Cadillac Chevrolet GM GMC

Danica Patrick hands over keys to first 2016 Chevy Camaro

Alican "Turk" Boyacioglu got more than he expected this weekend when he picked up his new 2016 Chevy Camaro, the very first sixth-gen Camaro to be delivered to a private customer. That's because racer Danica Patrick was on hand for the delivery. The handing over of the keys took place at Texas Motor Speedway – a stop along the brand's Find New Roads trip. The journey is being conducted to introduce America to five new Chevy models: the Camaro and also the new Malibu, Cruze, Volt, and Spark. The road trip kicked off on October 19 and will conclude next week on November 14. Boyacioglu ordered up a red Camaro SS from Huffines Chevrolet in Lewisville, TX, north of Dallas. When he headed from Kansas to northern Texas to take delivery, he was pleasantly surprised to see Danica climb out of the car to hand him the keys. Though she may have raced under Honda power during her IndyCar days, Danica's NASCAR stock cars have always been powered by Chevrolet. She even drove a Camaro in the Nationwide Series. The smile on Turk's face ought to last him the nearly five-hour drive home to Wichita. For everyone else, deliveries are set to commence in earnest in the middle of this month. The first models to be delivered will be V6 coupes. Convertibles and turbo-four models will start shipping early in the new year. Customers will be able to choose between six powertrain combinations, made up of the 2.0-liter turbo four, the 3.6-liter V6, and the 6.2-liter V8, each available with a six-speed manual or eight-speed automatic. Pricing starts at $26,695 for the base 1LT trim and extends up to $37,295 for the 1SS. DANICA PATRICK SURPRISES CUSTOMER WITH 2016 CAMARO Huffines Chevrolet delivers first 2016 Camaro to Alican 'Turk' Boyacioglu DALLAS – Racecar driver Danica Patrick helped the team at Huffines Chevrolet deliver the first sixth-generation Camaro to a customer from Wichita, Kan., at the Texas Motor Speedway stop of Chevrolet's Find New Roads Trip today. Alican "Turk" Boyacioglu had been eagerly tracking the build of his 2016 Camaro SS and could not contain his excitement when Patrick emerged from the car and handed him the keys. "This whole experience was surreal," Boyacioglu said.

2021 Chevy Colorado and GMC Canyon facelift spied

The Chevy Colorado and its GMC Canyon twin have been on sale for a good long time now, and while things move a little more slowly on the truck side when it comes to facelifts and model changeovers, it seems like it’s about time. So itÂ’s no surprise to see some lightly camouflaged trucks running around ahead of what appears to be a minor refresh for the 2021 model year. Starting with the Colorado, it appears to have a bowtie hiding behind some camo in the center of the grille, which otherwise looks like the no-bowtie option you can get on 2019-and-up trucks. It could be that Chevy is keeping the no-bowtie grille design but allowing a bowtie to grace it, or it could be misdirection. Either way, the grille pattern adds a bit of flair to the otherwise staid front end design. There also appears to be a bit more shape to the lower air inlet, with echoes of some of the lower fascias of its bigger Silverado stablemate. The Canyon, on the other hand, shows more extensive front-end changes. At first glance, it looks to emulate some variants of the GMC Sierra, which would make sense given those modelsÂ’ changes for the 2020 model year. In particular, this Canyon has hints of Sierra HD, being more square and monolithic than the regular Sierra 1500s, although itÂ’s a little hard to tell with the camo covering the edges of the grille. It could certainly also adopt more rounded corners like the 1500s. Either way, itÂ’s more vertical and thereÂ’s less differentiation between the upper grille and lower opening. ThereÂ’s nothing in the way of changes around the sides or back, and while there may be some minor changes inside, we arenÂ’t expecting any. The word around town is that this isnÂ’t a full facelift, but rather a minor front end tweak thatÂ’ll just be a regular part of the model-year changeover.