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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.

Hummer teases crab mode, reveal set for Oct. 20

DETROIT — GMC confirmed it will reveal the Hummer electric off-roader Oct. 20 and released a video teasing the vehicleÂ’s so-called crab mode. Crab mode allows the Hummer to move diagonally and is enabled by the vehicleÂ’s four-wheel steering. The video shows tires, and well, a crab. “When you're in the really difficult terrain, this just gives you unparalleled maneuverability,” said Duncan Aldred, global vice president of Buick GMC. The Hummer will be offered as truck and SUV models, and customers will be able to make reservations beginning on the reveal date. Deliveries are expected to begin in fall 2021. The Hummer was supposed to be revealed May 20, but was delayed due to the Covid-19 pandemic. The Hummer was teased in a Super Bowl ad this year with NBA superstar LeBron James, who is the vehicle's frontman. It will have several EV powertrains which General Motors calls Ultium, and the most capable variant will have an estimated 1,000 hp and hit 60 mph in three seconds. The Hummer will also offer removable roof panels. “This is very much going to be a luxury vehicle which competes against a broad spectrum,” Aldred said Monday on a conference call with reporters. The Hummer will take aim against a variety of vehicles, including the four-door Bronco, RivianÂ’s truck and SUV and the Jeep Wrangler 4xe. Aldred is optimistic the return of the Hummer name will help GMC carve its niche in this growing segment of trucks and SUVs with varying degrees of electric propulsion and off-road capability. GM sold vehicles under the Hummer brand from 1992-2010, before scrapping it in the wake of GMÂ’s historic 2009 bankruptcy and restructuring. Hummer is relaunching under the GMC umbrella. “ItÂ’s real desirability, itÂ’s almost cult-like status,” Aldred said. “I think a huge amount of people are going to have interest in this.” GM, which is re-emphasizing its defense division, could also repurpose the Hummer for military use, perhaps as transport vehicles. Hummers are descended from the Humvee, which is still used by U.S. forces.

2021 GMC Yukon configurator now open for play-money builds

The 2021 GMC Yukon configurator is open for real and imaginary business. It's missing a number of important options, though, like the AT4 trim and the Premium Capability Package that installs the Air Ride Adaptive Suspension, so the configurator is best suited for practice runs at the moment. Playing our usual game, we started with a livery build in base SLT 2WD trim for an airport shuttle to compare to the livery 2021 Tahoe we built a few days ago. Same as with the Chevy, the GMC offers nine exterior colors. Opposite to the Chevy, the GMC makes you pay for every color except Summit White. Our Onyx Black selection added $195, five colors cost $495, Cayenne Red Tintcoat costs $695, and the super gonzo White Frost Tricoat runs $1,095. We plumped for the SLT Luxury package's driver assistance and convenience features like memory settings for the front passengers, powered seating for the second row, a split third row, the Rear Seat Media Package, and a console lockbox. What began as $59,095 after destination — $4,000 more than the 2021 Tahoe — ended at $64,445, just $2,165 more than our livery Tahoe because the Yukon packages more kit.   The amounts add up a lot quicker at the top end. Our regional rep with a fat bonus check started with a $72,295 Yukon Denali 4WD in the $495 Pearl Beige Metallic with a Teak and Light Shade interior. The $6,500 Denali Premium Package normally costs $500 more, and who can resist a sale? At about 9% of MSRP, it's not a negligible option, but it includes the $1,780 Advanced Technology Package, the $1,500 panoramic sunroof, and a set of 22-inch wheels that are normally $2,995. Since the bonus was big enough to replace the two-year-old jet skis in the garage, our rep added the $465 Max Trailering Package and that automatically appends the ProGrade Trailering features. Put in the Rear Seat Media Package to occupy the kids, locking armrest storage to protect stuff from the kids, and hook up a set of illuminated GMC badges for $535 to wow oncoming vehicles, and the total comes to $83,320. That's more than $10,000 in options without the least effort. However, there aren't any big-money options left to add except a $1,499 rooftop tent.     GM Authority wrote about the package combinations necessary to unlock the Air Ride Adaptive Suspension on the AT4 or Denali trims. Summed up, the check boxes add $3,410 to the price of an AT4, $3,755 to the price of a 2WD Denali, and $6,015 to the price of a 4WD Denali.