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GM posts $4 billion third-quarter profit thanks to trucks and SUVs

DETROIT — General Motors is posting huge third quarter numbers, pulling in $4 billion in profit over three months after losing money due to the virus outbreak. GM's adjusted earnings were $2.83 per share, easily outpacing Wall Street's per-share projections of $1.43, according to a survey by FactSet. Revenue of $35.5 billion also edged out most expectations. Shares jumped almost 6% before the opening bell Thursday. The company swung back from a $806 million loss in the second quarter, when it was restarting factories shuttered for safety during the early stages of the pandemic. The Detroit automaker joined most global automakers in reporting better-than-expected earnings from July through September as sales across the globe started to rebound from coronavirus lockdowns, especially in China. GM sales in China jumped 12% in the third quarter, with sales of its Buick and Cadillac brands both rising more than 25%. In the U.S., GMÂ’s most profitable market, sales fell 9.9% in the third quarter compared with a year ago, but were a dramatic improvement over the 34% drop in the second quarter. Sales improved sequentially each month, the automaker said, an encouraging trend. GMÂ’s profit was boosted by higher-priced pickup trucks and large SUVs, which have seen strong sales in the U.S. through the pandemic. It was the best quarter on record for GM's Chevrolet Blazer. Sales of the Cadillac XT6 spiked 45% in the U.S. over last year. Large pickups also sold well. GM also said it was pumping $2 billion into its Spring Hill, Tennessee manufacturing plant to push its transition to produce electric vehicles. Last week, crosstown rivals Fiat Chrysler and Ford reported strong third-quarter net income. FCA said it made $1.4 billion for the period, while Ford earned $2.39 billion. Related Video: Earnings/Financials Buick Cadillac Chevrolet GM GMC

Buick Envision Plus is a seven-seater tweener developed for China

Buick has filled the gap separating the Envision and the Enclave with a new crossover named Envision Plus. Launched at the Shanghai auto show, the three-row people-mover is scheduled to go on sale in China later in 2021. The plus-sized Envision stretches 190.7 inches long, 74.1 inches wide, and 66.7 inches tall, figures that make it around eight inches longer and two inches taller than the regular Envision. It's also a full 14 inches shorter, four inches narrower, and three inches lower than the Enclave, which is the biggest crossover in the Buick range. Designers didn't settle for stretching the Envision's wheelbase. They gave the Plus a more upright front end characterized by a taller grille, a flatter and longer roofline, and a redesigned rear end accented by a strip of bright trim that connects the lights. Only photos of the upscale Avenir trim (shown above) have been published so far. Images of the cabin are not available yet. We expect the Plus offers an interior close to the standard Envision's — from the driver's point of view, at least. The biggest difference is that the longer Envision lives up to its name by letting motorists take more gear or kids along for the ride thanks to a more spacious trunk and third-row seats. Power for the Envision Plus comes from a turbocharged, 2.0-liter EcoTec four-cylinder engine fitted with 48-volt mild-hybrid technology. Bolted to a nine-speed automatic transmission, the turbo-four is the same basic engine found in the American-spec Envision, where it develops 228 horsepower and 258 pound-feet of torque, but figures for the Plus weren't released. Front- and all-wheel-drive models will presumably be available. Buick will release pricing information closer to the model's on-sale date. As of writing, the Envision Plus has only been announced for China, where it will be built, but unverified reports claim it will arrive in American showrooms before the end of 2021. We've reached out to the company, and we'll update this story if we learn more. 2021 Buick Verano Pro GS View 5 Photos What else did Buick show in Shanghai? Buick no longer sells sedans in America, but it remains present in that segment on the Chinese market. In addition to the Envision Plus, it unveiled a model named Verano Pro developed specifically for China, built locally, and aimed at relatively young buyers. At launch, motorists will be asked to choose between the regular sedan and a sportier-looking variant that wears the storied GS emblem.

2020 Buick Encore GX is a really attractive middle child

The 2020 Buick Encore GX is officially a thing in North America. The compact crossover slips into the space between the slightly smaller Encore and the larger Envision, adding extra room behind the rear seats to pack in a lot more than the Encore, and only a little less than in Envision. Beyond the additional room, every trim of the Encore GX comes with safety tech that — for the moment, at least — can only be had as an optional extra on the standard Encore, if it's available at all on the smaller model. The six included features are automatic emergency braking, following distance indicator, forward collision alert, front pedestrian braking, IntelliBeam headlamps with automatically-adjusting high/low beams, and lane-keeping assist with lane departure warning. IntelliBeam, for instance, isn't available on the Encore, and doesn't come standard on the Envision until maxing out at the AWD Premium II trim. What's more, the new bigger Encore brother puts a list of substantial safety features on the options sheet, such as Automatic Parking Assist with Braking, a heads-up display, camera-based adaptive cruise control, high-definition Surround Vision camera system, rear park assist, rear cross traffic alert, and a hands-free power liftgate with logo projection. Convenience touches in the cabin are found in wireless charging, Bluetooth pairing for two phones simultaneously, and Android Auto, Apple CarPlay, and Sirius XM with 360L compatibility. The 360L version of Sirius XM combines satellite services with streaming to provide more channels and access to live and on-demand shows. Buyers can luxe it up inside with optional perks like leather-appointed seats, a heated steering wheel, and an ionizing air filter. Buick says the Encore GX swallows 25.3 cubic feet of goods behind the second row. According to the dimension stats on the Buick site, that's 6.5 cubic feet more than the load space in an Encore and a measly 1.6 cubic feet less than the available volume in an Envision. The carmaker wants buyers to get the most flexibility out of the Encore GX area as well, serving up an adjustable load floor in every trim that can be raised to lie level with the folded rear seats and provide extra under-floor storage.