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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.

J.D. Power: Mini, Lexus again offer most satisfying sales experience

JD Power has released its annual Sales Satisfaction Index Study, and once again Mini and Lexus have taken top honors. Overall, buyers are more satisfied with the auto-buying sales experience than they were last year, with those surveyed reporting an average score of 664 points on a 1,000-point scale. That's up from 648 in 2011. Dealer satisfaction also increased by five points over last year as well.
All told, Lexus brought home an index score of 737, which was high enough to put it atop the luxury brands for the second year in a row. JD Power says Infiniti came in second in that category with a score of 728 and Cadillac rounded out the podium with it's rating of 725. Speaking of Infiniti, that brand saw the single largest jump in sales satisfaction of any brand on the survey, popping up 52 index points over 2011.
Among mass-market brands, Mini ranked highest with a score of 712, followed closely by Buick with 706 and GMC farther down the line with 683. You can check out the full press release below for more information.

Buick will cease using ‘Buick’ badge on vehicles from 2019

GM Authority recognized that the recently unveiled 2019 Buick Envision is missing something: a " Buick" badge on the left side of the tailgate. Every other vehicle the carmaker sells features that script, but not the new mid-sized crossover. When the site asked about the omission, "representatives recently told GM Authority that Buick will stop using the brand badge on the rear of its vehicles, starting with the 2019 model year." The only identifiers that will remain are the three-color Tri Shield logo and the model nameplate, i.e., "Envision" or " Regal." It's a bold game for a mass-market major automaker, though Audi, Hyundai and Volkswagen follow the same trend. Even Bugatti, Rolls-Royce, Bentley, and Aston Martin affix their brand names to their vehicles within company icons or on brake calipers, albeit in small fonts. The coming Continental will wear the word "Bentley" across its trunk, silverware the present Continental does without. Porsche allows customers to delete model designations, but it must be requested. At the other end of the spectrum, the Ford Mustang Bullitt wears zero badges, but the Bullitt is a special edition of a well known model that otherwise advertises its provenance everywhere. Buick plays in hard-fought segments where mass appeal overrules instantly-identifiable design daring. Those kinds of carmakers usually want to take every opportunity to advertise every sale. Remember the last Buick to go without a make badge? The terrifically handsome Buick Avista concept that wore only two Tri Shield logos and its model name on the decklid. Perhaps that gave Buick some ideas. If the carmaker plans to start putting out cars like the Avista, then this move makes perfect sense. Update: A commenter pointed out that Hyundai vehicles don't have "Hyundai" badges, only the "Flying H." We've thought of some other brands/models, too. So Buick has mass-market company. Related Video: