1987 Grand National Turbo 3.8l V6 12v Automatic Rwd Coupe Black on 2040-cars

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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 Velite Plug-In Hybrid Concept debuts to little fanfare

Buick pulled the covers off its latest Velite Concept at the Auto Guangzhou 2016 show in China. We say latest because this is actually the second time Buick has used the Velite name for a concept, the previous having been shown at the 2004 New York Auto Show. The first Velite concept was a two-door convertible; the second Velite is a four-door crossover. Enough about the name, what about the concept? Well, it's very highly stylized, and we don't really mean that in a good way. There's nothing about the Velite that screams Buick, except for its badges, of course. At the front is a compressed version of Buick's traditional waterfall-like fascia. It's flanked by slit-like LED lighting elements. The rest of the face looks to our eyes like it draws inspiration from the latest Toyota Prius. There isn't a single flat element to the Velite Concept's bodysides, in a way that resembles recent concepts from Infiniti. The last bit of styling flourish are deep recesses just ahead of the rear wheels, a look that is reminiscent of BMW's i-series of vehicles. There aren't any images showing the Velite's hind quarters, but from what we can see, that also has a QX-ish look about it. There are no shots yet of the Velite's interior, but Buick says it's "elegant" and "includes recycled materials." We wish we could see what it looks like, because the automaker says it "[points] to design trends for upcoming new energy vehicles." So, the Buick Velite Concept is a nondescript mashup of design elements that we've already seen. Under the skin, however, things are more interesting. It's a plug-in hybrid with a modular lithium ion battery. That doesn't tell us much – it could be a variant of the Chevy Volt, or it could be a different system altogether. We look forward to finding out. In the meantime, have a look at the high-res image gallery up above. Oh, and if you're wondering, the word velite traces its roots back to a lightly armored military division in ancient Rome. Related Video:

GM opens military discount to 21M veterans and their spouses

May marks the start of National Military Appreciation Month, and General Motors is getting into the spirit by expanding its military discount program to, well, just about everyone. That includes a total of 21 million military veterans and their spouses, along with the current slate of active duty, reserve, and National Guard members. The discount can slash thousands of dollars off the price of a new Buick, Chevrolet, or GMC vehicles, with Automotive News listing an $1,100 discount on the top gas-powered version of the Malibu, the Premiere. Those that want a bit more spice can get $1,700 off the price of a last-generation 2015 Camaro SS, while truck buyers will enjoy $3,000 off the Chevy Silverado All Star. That's just a start, though, since the military discount can be paired with other GM incentives. The discount doesn't apply to everything, though. Some are understandable – none of Cadillac's vehicles are included in the deal, nor is the Corvette Z06. You'll also be unable to apply the discount to a range of base-level trims, like the Chevy Cruze or Equinox L, the base Colorado, or the entry level GMC Acadia, Canyon, and Terrain. A full list is available at GM's dedicated military discount website. GM's expanded discount plan runs from today through May 31. News Source: General MotorsImage Credit: General Motors Buick Chevrolet GM GMC Car Buying Car Dealers Military