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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

Another Green Episode | Autoblog Podcast #665

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder and West Coast Editor James Riswick for an episode dedicated to electric cars. First, they talk about what they've been driving, including the Ford Mustang Mach-E, the new base, rear-wheel-drive Porsche Taycan as well as the Polestar 2. Then they dive into some green news, including the reveal of the Audi E-Tron GT, the new Chevrolet Bolt EV and Bolt EUV and plans to go electric by companies like General Motors and Jaguar Land Rover. Autoblog Podcast #665 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 What we're driving:Ford Mustang Mach-E Porsche Taycan Polestar 2  News 2022 Audi E-Tron GT revealed as sporty, electric cousin to Porsche Taycan 2022 Chevrolet Bolt EUV introduced along with revised Bolt EV General Motors sets goal of being carbon neutral, largely electric by 2035 Jaguar to sell all-electric cars by 2030, and six electric Land Rovers coming in next five years Feedback Email – Podcast@Autoblog.com Review the show on iTunes Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video:

Old Car or New Car? 1993 Chevy Camaro vs 2015 Honda CR-Z

My daily life revolves around used cars. As a former fast-talking auto auctioneer, it was once my job to inspect, appraise, and liquidate thousands of cars throughout the United States. Since I put down my microphone and became a full-time car dealer, I have gone from auctioning off 150 vehicles an hour – yes, we really do talk that fast – to buying 150 vehicles every two to three months. I see and bid on everything from $300 Volkswagens that belch more black smoke than a diesel truck rolling coal, to $30,000 DeLoreans that hopefully can go at least 88 miles per hour. The auctions never run out of weirdness when it comes to cars because they sell over 10 million every single year. So with that big number in mind, let me tell you about these two cars that have about as much in common as Mel Gibson and Mel Brooks.Option A: 1993 Chevrolet Camaro Indy 500 Pace Car Edition View 24 Photos This 1993 Chevrolet Camaro Indy Pace Car has all of 4,187 miles on it. Neither of those numbers are a misprint and yes, those are multi-colored stripes on the hood. Every week, I find at least two or three museum pieces that have been stored in the private garage of an auto collector. As you can tell, there are some very broad strokes to the definition and tastes of a collector. It could be a guy who has an extreme case of what I call "Automotive Compulsive Disorder" who chucks 20 or 30 old cars into a field and lets the weather and elements have at them. I once knew a guy, a car dealer at that, who "stored" seven 1990s Oldsmobile Cutlass Supreme convertibles in the Georgia sun, and within two years those cars turned into complete junk. The fact that he stored them in an open field he didn't actually own and near a public road didn't help either. A few of the local meth heads and kleptocrats decided to strip-mine his collection, from the radiators to the tops themselves. He had a brief time in prison in between the before and the surprise after and trust me, he looked like he had soiled his britches when he saw what happened to his personally prized Cutlasses. Then you have whoever owned this Camaro. Is it a one-of-a-kind? Nope. Just 1 of 125, and an insignificant number at that (#87). But let's open the door to this Camaro and see what we find. Oof! I don't remember this multi-colored silly string design as a '90s must-have. Wasn't this popular back in the 1980s?