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General Motors posts record earnings, but global sales fall

General Motors started the year with record success. The automaker's $2.7 billion in adjusted earnings before interest and taxes was its highest ever in in the first quarter of 2016, up from $2.1 billion in from the same time period a year earlier. Net income grew to $1.95 billion, which was more than double the $953 million in the same period last year. The company's figures also beat analysts' predictions, according to the Detroit Free Press. Despite the financial growth, global sales actually decreased by 2.5 percent to 2.36 million vehicles. "We're growing where it counts, gaining retail share in the US, outpacing the industry in Europe and capitalizing on robust growth in SUV and luxury segments in China," CEO Mary Barra said in the company's financial announcement. GM did well in North America with an adjusted EBIT of $2.3 billion, up from $2.2 billion last year. Sales in the region also grew 1.2 percent to 800,000 vehicles. According to The Detroit Free Press, the company has been especially successful at selling more expensive models in the US. The company's average vehicle was $34,600 in Q1, about $3,000 more than the industry average. Elsewhere in the world, GM also showed improvement. Europe practically broke even after losing about $200 million last year, and Opel and Vauxhall sales grew 8.4 percent to more than 300,000 vehicles for the quarter. South America only lost $100 million, which was half as much as Q1 2015's $200 million loss. China remained flat at $500 million of income. Cadillac volume jumped 6.1 percent there, and Buick's deliveries increased 22 percent, thanks to the Envision crossover's success. GM Reports First-Quarter Net Income of $2.0 Billion 2016-04-21 EPS diluted of $1.24; First-quarter record EPS diluted-adjusted of $1.26 First-quarter record EBIT-adjusted of $2.7 billion GM Europe posts break-even performance DETROIT – General Motors Co. (NYSE: GM) today announced first-quarter net income to common stockholders of $2.0 billion or $1.24 per diluted share, compared to $0.9 billion or $0.56 per diluted share a year ago. Earnings per share diluted-adjusted for special items was a first-quarter record at $1.26, up 47 percent compared to the first quarter of 2015. The company set first-quarter records for earnings and margin, with earnings before interest and tax (EBIT) adjusted of $2.7 billion and EBIT-adjusted margin of 7.1 percent.

Mysterious white powder discovered at GM Orion Assembly

Workers at General Motors Orion Assembly Plant in Orion Township, MI uncovered a mysterious white powder in two different parts of the factory earlier this week, raising concerns about worker safety. "We can confirm that an unknown substance (white powder) was found on the floor outside of Gate 6 at Orion Assembly on Monday, August 29. On Tuesday, August 30, we had a second report of a bottle containing a similar substance found inside the plant," GM spokesperson Dayna Hart told The Oakland Press via email. GM stressed that incident didn't disrupt operations at the plant, and that the company was taking steps to ensure the safety of the sprawling factory's workers. That did include, an anonymous worker told The Oakland Press, closing off parts of the factory for two full days, as drug-sniffing dogs and crews in haz-mat suits descended on the area. "A sample of the substance has been sent to a laboratory for identification and results are expected later this week," Hart said. "All findings and actions have been shared with our employees." Orion Assembly currently builds the Chevrolet Sonic and Buick Verano, and will eventually be responsible for production of the new, all-electric Chevy Bolt early next year. Related Video:

We hear Buick is testing a Regal wagon with focus groups

Rumors about a possible Buick Regal wagon have come and gone for the past few years, and today we have another one. A friend of Autoblog recently let slip that Buick is talking with customers and running focus groups of a new car against the Acura TSX wagon and an unnamed Volvo wagon. Of course the Buick model being used in the focus groups wasn't mentioned, but the Regal is the only Buick in the lineup of comparable size and with a wagon version overseas. Plus, we've heard that Buick told dealers a wagon is in the works at a meeting a few months ago. We reached out to Buick for comment, however no details were given. A Buick spokesperson told us, "By the end of 2017, we'll be revealing three more new models for a total of seven new Buicks in just 24 months." Of the seven new models, four have been launched: the Cascada, Encore, Envision and LaCrosse. Looking at Buick's current line-up, that leaves three models that haven't been updated yet: the Enclave, Regal and Verano. This is where a Buick Regal wagon could come in. We know the Enclave is definitely getting a replacement. The large crossover market is huge and GM has a platform for it. We're also expecting a new Regal sedan to come out next year. The Verano, however, is unlikely to see another generation. If the Verano goes away, that leaves an opening for a new Buick model. Rather than another sedan, Buick probably wants more crossovers, as the company said it expects its current line-up to bring in 70 percent of its sales. It could very easily add another CUV to the line-up by giving the Regal wagon the Volvo Cross Country treatment. Raise the ride height, gird it with plastic fenders and bumpers, and give the wagon a trendy name like "Tourx" or "Regal Tourx," which the company has already trademarked, and Buick's newest crossover is ready to go. In fact, GM has effectively already done this to the Regal's German sibling, the Insignia, in the form of the Insignia Country Tourer, pictured above. In summary, a CUV-like wagon could give Buick a trendy car in a hot class for a minimal investment. It would even provide Buick with a model that has no equivalents elsewhere in the GM stable, giving the company a bit more distinction. If the company does bring us a wagon version of the Regal, we would expect to see something next year, possibly with the reveal of the normal Regal variants.