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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.

2021 Buick Encore sheds top two trims, offer only Base and Preferred

A few days ago, CarsDirect reported that the 2021 Buick Encore would prune its top two trims, the Sport Touring and Essence variants. Paring those two trims would leave the Base and the Preferred, creating larger price and amenities differences between the stalwart Encore and the new, larger, nicer Encore GX. It turns out the change has already gone into effect for the 2020 model year, as shown in Encore's Build & Price page at the brand's web site. Now the only trims available are the 1SV and Preferred. The prices for these trims won't change for next year, either. The Encore will start at $24,195 after a $995 destination charge, and now topping out at $26,215 for the all-wheel drive Preferred model. Previously, the Essence AWD established the top of the hill at $31,795. The move eliminates almost all of the MSRP overlap with the Encore GX, which ranges from $25,195 to $31,595. There will be less feature overlap, too. The now-dead Encore trims opened the door to proper luxury amenities like LED headlights, leather seats, dual-zone climate control, and an auto dimming rear-view mirror. The amenities available on the Preferred are limited to floor mats and accessories, save for the $495 Safety Package that adds Rear Cross Traffic Alert and Side Blind Zone Alert, and the $300 Remote Start. The Encore GX comes in three trims, Preferred, Select, and Essence, and "Leather-appointed seating" doesn't appear until the top-dollar Essence trim for $29,495 in FWD fettle.  The closest the Encore and Encore GX will get to one another is in engine output. The smaller crossover comes only with a 1.4-liter turbocharged four-cylinder that makes 138 horsepower and 148 pound-feet of torque. The Encore GX offers two engines depending on powertrain. A 1.2-liter turbocharged three-cylinder with 137 hp and 166 lb-ft comes solely with front-wheel drive, and a 1.3-liter turbocharged three-cylinder with 155 hp and 174 lb-ft is available with either front- or all-wheel drive. Related Video:    

NC dealer falsely announces return of Regal Grand National, Regal GNX

Like many new car dealers, Liberty Buick GMC gets so excited about its brands' new wares that it puts out press releases announcing when new models are on the way. That's not typically national news, but the Charlotte, NC store has created a bit of internet hubbub by announcing that it will be "one of the first dealers in the country to offer the Buick Regal GNX," and it's even started to add customers names to a waitlist. Only one problem: Despite seemingly annual rumors and calls for such a model, Buick hasn't announced any Grand National models at all – let alone a GNX – and no such models are actually in the cards. The Liberty Buick press release talks in a nostalgic, venerative tone of the original 1982-1987 GN franchise, and goes on to say: "These returning relics will be based on the highly-acclaimed Alpha vehicle architecture currently used in the Cadillac ATS, 2014 Cadillac CTS, and soon to be in the sixth-generation Chevy Camaro. Alpha is the internal name of a General Motors vehicle architecture engineered to underpin compact and mid-size rear-wheel-drive vehicles." In the release, Liberty Buick claimed the GN/GNX models would arrive in late 2015, citing a coupe bodystyle, including a rather fantastical-looking GNX rendering from Bestride.com. Unsurprisingly, none of this is true. Autoblog reached out to Buick for comment about the release, and brand communications manager Nick Richards confirmed that the company had discussed the matter with Liberty Buick representatives. Richards went on to say that the release was wholly incorrect, proclaiming "an agency [for the dealer] picked up a lot of stuff off the internet" and ran with it, including an old Car and Driver story from 2013. The dealership subsequently issued a retraction, with Scott McCorkle, owner of Liberty Buick GMC saying: "We love the idea of the Buick Regal GNX coming back to our showroom but for now, it's only a concept. Bottom-line, the article was incorrect.