4x4 Truck Gmc Chevy 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.

GMC Terrain adds AT4 trim, completing the set

"AT4 all of the things!" is GMC's new rallying cry, as the brand has announced that the off-road-themed trim level is coming to the GMC Terrain midsize SUV. The Terrain will join the just-announced 2021GMC Yukon and the 2021 GMC Canyon midsize pickup, both of which add an AT4 variant for the first time. The model designation was introduced on the Sierra full-size pickup for 2019, and spread to the Sierra HD and to the Acadia three-row crossover for 2020. AT4 content, however, varies widely by model. In the Sierra full-size pickup, the trim level brings a full slate of off-road gear including a two-inch suspension lift, a two-speed transfer case for the 4WD system, a locking rear differential, hill-descent control, Rancho shocks, skid plates, off-road tires, and more. The Acadia AT4, meanwhile, includes little more than standard AWD, black wheels and exterior trim, and all-terrain tires. It sounds like the Terrain AT4 will be closer to the Acadia in execution, with GMC promising a black-chrome grille and exterior design elements plus "confident capability and advanced technology." Hmm. The GMC Terrain AT4 doesn't arrive until the 2021 model year, which means this fall, so more specifics, including pricing, are still to come. But GMC couldn't wait to show the Terrain AT4, which completes the AT4 family photo seen above. Related Video:    

2015 GMC Sierra Elevation Edition Beauty-Roll

For those of you paying attention, we've really ramped up the old Autoblog video game these days. Our new series Car Club USA joins Translogic and The List, and there are more Daily Drivers and Short Cuts than ever. But sometimes, all you care about is the car. The Autoblog Beauty-Roll video series has one goal: bring you glossy video images of cars, and nothing but. We're collecting moving pictures of all the cars we test, inside and out. Each episode comes with a hit of engine sound – start-up and with a few revs – to round out the package. Set your resolution to max, kick it into full-screen, turn up the sound, and enjoy today's subject, the 2015 GMC Sierra Elevation Edition. Oh, and if you'd like more Beauty-Roll, click here to see the back catalog.