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GM earnings rise 1% as buyers pay more for popular pickups

DETROIT — General Motors said Thursday that higher prices for popular pickup trucks and SUVs helped overcome slowing global sales and profit rose by 1% in the second quarter. The Detroit automaker said it made $2.42 billion, or $1.66 per share, from April through June. Adjusting for restructuring costs, GM made $1.64 per share, blowing by analyst estimates of $1.44. Quarterly revenue fell 2% to $36.06 billion, but still beat estimates. Analysts polled by FactSet expected $35.97 billion. Global sales fell 6% to 1.94 million vehicles led by declines in North America and Asia Pacific, Middle East and Africa. The company says sales in China were weak, and it expects that to continue through the year. In the United States, customers paid an average of $41,461 for a GM vehicle during the quarter, an increase of 2.2%, as buyers went for loaded-out pickups and SUVs, according to the Edmunds.com auto pricing site. The U.S. is GM's most profitable market. Chief Financial Officer Dhivya Suryadevara said she expects the strong pricing to continue, especially as GM rolls out a diesel pickup and new heavy-duty trucks in the second half of the year. "We think the fundamentals do remain strong, especially in the truck market," she said, adding that strength in the overall economy and aging trucks now on the road should help keep the trend going. Light trucks accounted for 83.1% of GM's sales in the quarter, and pickup truck sales rose 8.5% as GM transitioned to new models of the Chevrolet Silverado and GMC Sierra, according to Edmunds, which provides content to The Associated Press. As usual, GM made most of its money in North America, reporting $3 billion in pretax earnings. International operations including China broke even, while the company spent $300 million on its GM Cruise automated vehicle unit. Its financial arm made $500 million in pretax income. Suryadevara said GM saw $700 million in savings during the quarter from restructuring actions announced late last year that included cutting about 8,000 white-collar workers through layoffs, buyouts and early retirements. The company also announced plans to close five North American factories, shedding another 6,000 jobs. About 3,000 factory workers in the U.S. whose jobs were eliminated at four plants will be placed at other factories, but they could have to relocate. GM expects the restructuring to generate $2 billion to $2.5 billion in annual cost savings by the end of this year.

Opel Insignia OPC getting facelift. Will the Buick Regal GS see it, too?

We've seen spy shots of the base Opel Insignia wearing facelifted front and rear ends, and now it appears that the more potent OPC version will be benefitting from a nip/tuck, as well.
The front bumper has been redesigned, incorporating new air intakes - toned-down versions of the model's signature fangs - as well as a new grille. Out back, there will be minimal changes to the overall fascia, most likely stuff like slightly redesigned taillamps, and inside, these spy shots show a larger navigation/infotainment screen sitting atop the center console.
This is all well and good for the Insignia, but we're wondering how these changes will impact North America's Buick Regal GS. No, it may not share the same powertrain punch as the Euro-spec OPC, but visually, the cars are nearly identical. When questioned about possible changes for the GS, a Buick spokesperson told us that the automaker "can't comment" on any changes at this point. Even so, we wouldn't be surprised if some small changes come our way in the next year or so.

Buick Avenir concept struts into Motown

We love auto show surprises, and Buick has already gifted us a sparkly package on the eve of the 2015 Detroit Auto Show. Dubbed Avenir, this four-door concept is said to signal the future of the Trishield brand by previewing a possible flagship sedan. Incorporating time-honored Buick design hallmarks like the sweep-spear profile, Ventiports, and even a subtle boattail rear-end, the four-place sedan is powered by a surprisingly real-world powertrain – namely a next-generation V6 with cylinder deactivation and stop/start, with the most interesting part of the driveline arguably being a "twin-clutch all-wheel-drive system" and a nine-speed automatic gearbox with paddle shifters. Make no mistake, this is a big car. At 204.5 inches long, it's longer than a standard-wheelbase Cadillac Escalade – a span that's emphasized by the car's long hood and waterfall grille – though it's not quite as wide. While clearly a showcar, the beautifully crafted interior looks largely produceable, including attributes like a next-generation 12-inch touchscreen infotainment system and 4G LTE wifi, but we suspect a production car would pick up a third rear seatbelt and give away some of its flowing contours that are said to have been "inspired by nature and sea waves receding on a beach." No word yet on whether there's actually a showroom future for a car like this – it could simply be an exercise designed to test the waters for a next-generation LaCrosse. After all, sedans aren't exactly popular concept fodder these days, especially as crossovers continue to eat into traditional sedan sales in many of the world's markets. However, China still loves the coddling rear seats of a proper four-door sedan (which in this case include silk and bamboo elements), and with a majority of Buick sales happening in the People's Republic, the Asian nation controls the destiny of this General Motors brand. Said another way? Anything is possible, especially with General Motors known to be working on a large flagship sedan for Cadillac already – the Avenir is reportedly based on the same Omega architecture that will underpin the forthcoming CT6. What do you think? Is this a promising direction for the resurgent Buick? Scroll through our gallery, check out the video, and then have your say in Comments.