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GM sees 'strong year' in 2018, then gold in Chevy Silverado for 2019

DETROIT — General Motors said on Tuesday it expects earnings in 2018 to be largely flat compared with 2017, but that profits should pick up pace in 2019 as its revamped line of high-margin pickup trucks hits the U.S. market. The 2018 earnings outlook was above market expectations, sending GM shares up more than 3 percent in premarket trading. "GM had a very good 2017 as we continued to transform our company to be more focused, resilient and profitable," GM Chief Executive Mary Barra said in a statement. "We are positioned for another strong year in 2018 and an even better one in 2019." GM and its Detroit rivals, Ford and Fiat Chrysler Automobiles, are bringing on new trucks at a time when overall U.S. new vehicle sales have been falling, but truck sales continue to grow as consumers abandon passenger cars in favor of pickups, SUVs and crossovers. GM on Saturday fired a new round in the battle for profits from one of the U.S. auto industry's most lucrative segments when it showed a new generation of its Chevrolet Silverado pickup truck at the Detroit auto show. The new Silverado, a highlight of the event, is the successor to GM's best-selling vehicle in North America. Sales of the current Silverado rose nearly 2 percent to 585,000 vehicles in 2017. In the coming months, the company will also reveal a revamped GMC Sierra pickup truck. U.S. new vehicle sales fell 2 percent in 2017 after hitting a record high in 2016, and are expected to drop further in 2018 as interest rates rise and more late-model used cars return to dealer lots to compete with new ones. GM said on Tuesday that while it retools a factory in Ft. Wayne, Indiana, to make the new pickup trucks, it will shift some production to an Oshawa, Ontario, plant in order to avoid missing sales in a hot market for the vehicles. The No. 1 U.S. automaker said it will record a $7 billion non-cash charge for its fourth-quarter 2017 earnings related to deferred tax assets. GM said it expects capital expenditure in 2018 of around $8.5 billion, about $1 billion of which will go toward funding self-driving car technology. Last week, the company said it is seeking U.S. government approval for a fully autonomous car — one without a steering wheel, brake pedal or accelerator pedal — to enter the automaker's first commercial ride-sharing fleet in 2019. GM said it expects 2017 earnings per share at the high end of its previously forecast range of $6 to $6.50.

2023 GMC Hummer paint choices are out of this world

The 2022 GMC Hummer EV Edition 1 came in one color: Interstellar White. Despite production issues potentially pushing Edition 1 builds into the 2023 model year, the Edition 1 will stick to being bathed in that single brilliant shade. GM Authority says it got access to the color palette on the way for the standard series Hummer EVs due next year that shows seven new galactic-themed choices on the way. Interstellar White carries on, joined by Void Black as the only no-cost colors. The others are: Afterburner Tintcoat, said to be an orange hue; Deep Aurora Metallic, said to be some kind of bronze; Meteorite Metallic, said to be a gray; Moonshot Green Matte, which we've seen on early shots of the Hummer EV SUV; Supernova Metallic, said to be dark blue; Tide Metallic, said to be a different shade of blue. GMA didn't get intel on pricing for the cost-extra colors; right now, the most expensive palette option for GMCs is White Frost Tintcoat for $1,095. However, the outlet believes Moonshot Green Metallic will be "extremely limited" and charge a super premium price. If that ends up being the case, it suggests GM has a thing about getting big green for special greens. Cadillac made Dark Emerald Frost a late option on the 2022 CT4-V and CT5-V Blackwings and charged $3,925 for the matte paint job. The brand ended production of Dark Emerald Frost in January, making the color doubly exclusive since it was offered for less than a year at the same time as customer demand far exceeded the number of Blackwings available. Anyone wanting Moonshot on their Hummer should get in line early.  The 2023 GMC Hummer EV will begin production later this year. Last month, GM raised prices for the coming model year by $6,250, and raised the destination fee to $1,995. For the moment, that makes the Hummer EV 2 start at $86,245, the EV 2X at $96,245, and the EV 3X at $106,245. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Driving a 1964 Volkswagen Beetle, and the 2021 Kia K5 arrives | Autoblog Podcast #634

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer and News Editor Joel Stocksdale. They start with what they've been driving this week, including the 2020 GMC Sierra 1500 diesel, 2020 Volkswagen Atlas Cross Sport and a 1964 Volkswagen Beetle. They move on to the news, covering the 2021 Kia K5, Geneva Motor Show (canceled again), Maserati's new engine and a new extended reality experience here at Autoblog. Finally, the guys spend some money for a listener who just had twins. Autoblog Podcast #634 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 Cars we're driving 2020 GMC Sierra 1500 AT4 diesel 2020 Volkswagen Atlas Cross Sport 1964 Volkswagen Beetle 2021 Kia K5 Geneva Motor Show cancelled Maserati engine Extended Reality with the Mustang Mach-E Spend your money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: