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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.

GM to add 1,200 workers at 2 Michigan factories

DETROIT — General Motors is adding 1,200 jobs at two Michigan factories to build midsize SUVs and two new luxury sedans. GM said Friday that its Lansing Delta Township plant will get a third shift and 800 more workers to build the Chevrolet Traverse and Buick Enclave SUVs, which have three rows of seats. The Lansing Grand River plant will get a second shift and 400 more workers to build two new Cadillac sedans, the CT4 and CT5. Employees laid off at other GM factories will fill the new jobs first, then workers will be added, GM spokesman Dan Flores said. The company has not determined yet how many new people will be needed, he said. Both additional shifts will start working sometime between April and June, the company said. Lansing Delta Township now employs about 2,500 salaried and blue-collar workers, while the Grand River plant has 1,400. GM sold more than 147,000 Traverse SUVs in the U.S. last year, a 0.4% increase from 2018. Enclave sales were up 3% to just over 51,000, according to Autodata Corp. Related Video:

Buick reveals wild GL8 minivan concept and Smart Pod concept in China

Buick, being the hit in China that it is, decided to unveil a couple of concept vehicles at the Guangzhou Auto Show. One is the GL8 Flagship Concept, and the other is the Smart Pod Concept. Since an actual minivan is far more interesting than any “Smart Pod,” weÂ’ll start with the GL8 Flagship Concept. The exterior is meant to be luxurious and “dynamic” looking with its mix of colors, glass canopy roof, wing-shaped headlights and highly-sculpted body. ThereÂ’s hardly a piece on the car that isnÂ’t making a statement, and the highlights continue when you open the doors. It becomes fairly clear right away that this minivan is not one for family use, as itÂ’s only rocking four seats. That said, everybody in those four seats is guaranteed to be comfortable. Buick says itÂ’s using “zero gravity” lounge seats inside, and the cabin as a whole is inspired by Chinese mountain and water landscapes. That could explain the multi-color floor, as the blue section looks like it could be the water at the base of a mountain, surrounded by a beach. Features include a tea tray, 30-inch driver display, touchscreen on the steering wheel, full windshield-width head-up display and a new audio system that features speakers in the headrests. Buick says all of the carÂ’s functions can be controlled by voice, too. Beyond the obviously futuristic touches, this Buick minivan is just plain gorgeous. Its gold, blue and cream color combo and various materials used throughout look like top-notch luxury. WeÂ’d love to see some of this attention to detail and luxury trickle down into some of BuickÂ’s production cars. Smart Pod Concept Buick Smart Pod Concept View 17 Photos Unlike the GL8, the Smart Pod was designed in the U.S. It uses the electric Ultium platform and what Buick is calling the VIP electric architecture. The exterior design is basically what Buick has called it — a pod. Its lights use micro-LED tech to make them as sleek as possible. On the inside, Buick designed the Pod to be as spacious and airy as can be. It has a glass roof, a fully reclining and dedicated sleep seat and a modular seating layout. Other features include deployable tables, noise-cancelation  tech, an air purifying system and a 50-inch LED screen. It is powered by an AI assistant that employs voice commands, eye-tracking technology, integration with your mobile devices and machine learning to adapt to the user.