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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

2022 GMC Sierra gets overhauled interior, new Denali Ultimate and AT4X

GMC Sierra's 2022 update is here, boasting a ground-up interior redesign, an updated Super Cruise package with trailering support, and two new trims aimed at very different buyers. While the GMC Sierra's bones are undeniably good, its interior has really held it back from our full-throated support in recent years. The pricier trims of the refreshed 2022 model may well erase those shortcomings entirely.  Hot on the heels of its revamped platform mate, the 2022 Chevrolet Silverado, the new Sierra arrives with a similar suite of upgrades, plus a few items that will remain exclusive to the fancy-pants Sierra for now, like Enhanced Super Cruise with available automatic lane-change and trailering mode. As with the Silverado, the Sierra's 2.7-liter four-cylinder gets an upgraded block and internals, allowing for a higher torque output (420 pound-feet), which means it makes even more torque than the 5.3-liter V8. Diesel models also enjoy some chassis upgrades that allow for the fitment of GMC's Max Tow package. That allows a diesel Sierra 1500 4x2 to handle 13,200 pounds and the 4x4 model to tow up to 13,000 even.  Still, the 2022 Sierra's most noteworthy improvements are to be found inside, and what better way to showcase an upgraded interior but with a new, range-topping luxury trim? Say hello to the 2022 GMC Sierra Denali Ultimate.  This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2022 GMC Sierra Denali Ultimate unveiled Denali represents a huge chunk of Sierra sales, and when your branding is based around upscale sophistication, you sure want to put your best foot forward at the top of the pricing structure. GMC wasn't quite there with the outgoing Sierra Denali, but the new Denali Ultimate may just be the ticket to one-upping the likes of the swanky Ram 1500 Limited.  This is the no-holds-barred, all-options-checked model that really makes GMC money. The 6.2L V8, 10-speed automatic and Super Cruise are standard on Denali Ultimate. All of the leather and wood elements visible here are real (seriously, you can touch them and everything). There's also a faux suede headliner, 16-way power-adjustable and massaging front seats, a 12-speaker Bose system and a 15-inch color HUD included.  GMC included several unique elements for Ultimate, including topographical maps and the latitude and longitude of Mount Denali formed into various interior trim pieces.

GM sweetens military discount for Buick, Chevy and GMC

American servicemen and women interested in a new vehicle from Chevrolet, Buick or GMC now have a bit more incentive to head down to their local dealer, as General Motors has announced plans to improve its military discount program.
The new GM Military Discount Program offers eligible consumers a new Chevy, Buick or GMC at invoice pricing, which in some cases can take very large chunks out of a car's retail price. When factored in with other incentives, most of which are available with the Military Discount, the bargains are thick on the ground for members of the US armed forces.
GM's Retail Sales and Marketing Support general manager, Chuck Thomson, said, "GM has long supported the military and military families, and we hope this simplified and enhanced discount will show our appreciation for their service and help make it easier for them to own one of our great new vehicles." The program is open to all active duty and reserve members in the Army, Navy, Marines, Air Force, National Guard and Coast Guard, as well as veterans that have been out of the service for less than a year. Military retirees and their spouses are also eligible for the discount.