2005 Gmc Sierra 3500 4x4 6.6 Duramax Diesel on 2040-cars

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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.

GM might lose 90-year U.S. sales crown over chip shortage

Automotive News editor Nick Bunkley tweeted on October 1 that according to AutoNews data, General Motors "has been the largest seller of vehicles in the U.S. every year since passing Ford in 1931." With automakers having turned in light car and truck sales data for the first three quarters of 2021, GM's 90-year-run might not reach 91. According to AN figures, Toyota was 80,401 vehicles ahead when the October workday started. Worse, GM is so far behind its historic pace that it might only sell enough light vehicles in the U.S. to match its numbers from 1958.  Meanwhile, the New York Times put a few more salient numbers to the pain GM and Toyota are enduring alongside the the rest of the industry. GM sold 33% fewer cars in Q3 2021 than it did in Q3 2019 during the dark days of the pandemic, 446,997 units this year as opposed to 665,192 last year. GM's Q3 2020 was only down 13% on Q3 2019. Over at Toyota, the bottom line showed a 1% gain in Q3 2021 compared to 2020, with 566,005 units moved off dealer lots. The finer numbers show two steps forward and one step back, though; Toyota's September sales were down 22% compared to last year.  GM remains optimistic about what's ahead, GM's president of North American operations telling the NYT, "We look forward to a more stable operating environment through the fall." We'd like to see that happen, but we don't know how it happens. The chip shortage said to have been the inciting incident for the current woes isn't over, and not only can no one agree when it will be over, the automakers, chip producers, and U.S. government still can't get on the same page about who needs what and when. Looking away from that for a second shows articles about "No End In Sight" for supply chain disruptions in early September, before China had to start working through power supply constraints, global supply chain workers started warning of a "system collapse," and roughly 500,000 containers sat waiting to be unloaded at Southern California ports — a record number seemingly broken every week. And back to chips, we're told just a few days ago the chip shortage is "worse than we thought."   For now, the NYT wrote that GM dealer inventory is down 40% from June to roughly 129,000 vehicles, and down 84% from the days when dealers would cumulatively keep about 800,000 light vehicles in stock. However, GM just announced it would have almost all of its U.S. facilities back online next week, although some would run at partial capacity.

2019 GMC Sierra Denali MultiPro tailgate and CarbonPro bed explained

When the 2019 Chevy Silverado debuted at the Detroit Auto Show in January, GM's Mark Reuss promised that the new 2019 GMC Sierra would have some significantly different styling and features than its corporate sibling. Previously, the Sierra has been little more than a Silverado with new front and rear fascias and some extra chrome inside and out. Well, Reuss was right. In addition to new sheetmetal, the Sierra exclusively gets the slick MultiPro tailgate and CarbonPro carbon-fiber bed box The tailgate really is trick. At the debut, GMC had multiple demonstrations, with engineers walking us through all six different configurations. Like all Sierra tailgates, the MultiPro version uses an aluminum skin to reduce weight. It's easy to tell which tailgate is which, as the MultiPro has a distinct cutout in the middle where it can fold down or extend. It can be used to extend the bed, drop to allow easier access, provide a sort of workbench, or be used as a step to help get into the bed. Yes, there's even a handle. Ford who? The step itself can support up to 375 pounds, 75 pounds more than Ford's similar tailgate step. This tailgate really is unique to the Sierra and is standard on SLT and Denali models. That said, the power-operated tailgate from the Silverado won't be coming to the GMC. Chevy gets its own exclusive, too. The Sierra's other big exclusive is the carbon-fiber reinforced plastic bed box. CFRP replaces steel inside the bed though not on the fenders. The bed uses four pieces; one for the bottom, one in the back and two along the sides. This isn't a CFRP. There is no steel hiding underneath these panels. Just take a peek underneath. The bed is a composite that uses 1-inch carbon-fiber threads, not a weave. Sheets of CFRP are molded and quenched — a process where the plastic coagulates and solidifies, locking in the carbon fiber — in just 60 seconds. That allows GMC's supplier to crank out these much more quickly. The finish looks like black fiberglass, though an engineer said that this wasn't the final production version. The final model will have different textures in order to improve grip and keep things from sliding around. GMC is touting the material's dent and corrosion resistance, though it remains to be seen how well it holds up to cracking. A video at the reveal showed people going after it with hammers and cinder blocks, but in-person demonstrations weren't available.