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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.

Black Friday could power record November sales

Black Friday allows some shoppers to line up in the wee hours for doorbuster deals on laptops and TVs, but the day after Thanksgiving could mean huge profits for automakers this year, too. Multiple industry analysts predict record growth for the industry for November, and the upcoming incentives could help those numbers. TrueCar predicts that Black Friday incentives could provide a major boost, and it estimates a November sales jump of 3.9 percent from last year to a record for the month at over 1.35 million vehicles. As examples of potential deals, Chevrolet, Buick, and GMC plan to offer up to 20 percent off some models, and FCA US has no-interest financing for up to 75 months from its brands. "Consumers are excited about Black Friday promotions and these month-long events appear to be resonating with car buyers." Eric Lyman, TrueCar's vice president of industry insights, said in the report. Black Friday only recently became a big day for auto sales, according to an analysis from Edmunds. Last year, Thanksgiving weekend posted double the sales as any other weekend in the month. The company predicts a sales volume of over 1.33 million vehicles for November. If that happens, it would be the beat the previous record of 1.32 million sales for the same month in 2001. Some forecasts temper the gains for November but only slightly. Kelley Blue Book predicts flat year-over-year sales at 1.3 million vehicles, but that's largely because there are two fewer sales days in 2015 versus in 2014. "Black Friday deals on vehicles have grown in popularity in recent years, and should be a big contributor to this month's sales results," said analyst Tim Fleming in the study. The combined research from J.D. Power and LMC Automotive have the lowest November prediction among this group at just over 1.279 million sales for the month versus 1.299 million in 2014. However, once the researchers adjust the figures for the two fewer selling days, 2015 could actually be seven percent higher than last year. TrueCar Finds New Auto Sales in November to Reach Monthly Record Black Friday promotions bolster sales gains; industrywide incentives up 6% from last year November 24, 2015 12:11 PM Eastern Standard Time SANTA MONICA, Calif.--(BUSINESS WIRE)--TrueCar, Inc. (NASDAQ: TRUE) projects total new vehicle sales, including fleet deliveries, will reach 1,352,500 units in November, a 3.9 percent increase from a year ago and the highest ever for the month.

2022 GMC Sierra Preview | GM's 'premium truck' is actually now premium

Pros: Quiet and torque-rich Duramax diesel; big touchscreen on most trims; great trailering tech; versatile MultiPro tailgate Cons: Worse ride than most rivals; AT4X priced like a Raptor but doesn't go like a Raptor The 2022 GMC Sierra 1500 is GM’s upmarket half-ton pickup, with a supposed emphasis placed on interior quality and materials rather than bare-bones durability. Supposedly, at least. In reality, the most recent generation hardly lived up to that promise as it showed few upgrades over its Chevy Silverado sibling, which itself possessed a ho-hum, not-really-trying interior clearly overshadowed by Ram and Ford that at least match it in most other respects. It was particularly noticeable when comparing top trim levels. GMC's supposedly premium entry, and especially the Denali, just didn't cut it. That changes in a huge way for 2022. First, thereÂ’s not just one new and massively improved interior, there are two. The SLE, Elevation and SLT once again share their interior design with the Silverado, but that includes a more visually appealing design, better materials, smarter storage and a significant technology upgrade thanks to the standard 13.4-inch touchscreen running the user-friendly Android Automotive OS. The AT4 and Denali trim levels, including the new AT4X and Denali Ultimate, step things up even further with a different dash design and upgraded interior materials. The Ultimate definitely lives up to its name with a characterful and, yes, premium vibe that stands tall against the best of Ford and Ram. Other welcome updates include the option of Super Cruise on top trim levels and a massively more powerful base turbo four-cylinder engine (it produces more torque than the 5.3-liter V8!). Effectively, the 2022 GMC Sierra is now the truck it shouldÂ’ve been since the beginning of this current generation and definitely worth a look – especially if youÂ’re in the market for a premium truck. Now, a bit of housekeeping. While the massively updated model shown here is officially the 2022 GMC Sierra, thereÂ’s a chance you could come across something called the "2022 Sierra Limited.” That was just last year's truck with the 2022 model year stapled to it. There are many reasons for this, but suffice it to say, if you see a Â’22 Sierra Denali with the ugly robot-face dashboard (below right), youÂ’re looking at a Limited. Also, the availability of Super Cruise and other features have been hampered by supply shortages.