1969 Buick Riviera, Low Mileage Survivor, Unrestored, Excellent Condition on 2040-cars

Auto blog

GM earnings rise 1% as buyers pay more for popular pickups

DETROIT — General Motors said Thursday that higher prices for popular pickup trucks and SUVs helped overcome slowing global sales and profit rose by 1% in the second quarter. The Detroit automaker said it made $2.42 billion, or $1.66 per share, from April through June. Adjusting for restructuring costs, GM made $1.64 per share, blowing by analyst estimates of $1.44. Quarterly revenue fell 2% to $36.06 billion, but still beat estimates. Analysts polled by FactSet expected $35.97 billion. Global sales fell 6% to 1.94 million vehicles led by declines in North America and Asia Pacific, Middle East and Africa. The company says sales in China were weak, and it expects that to continue through the year. In the United States, customers paid an average of $41,461 for a GM vehicle during the quarter, an increase of 2.2%, as buyers went for loaded-out pickups and SUVs, according to the Edmunds.com auto pricing site. The U.S. is GM's most profitable market. Chief Financial Officer Dhivya Suryadevara said she expects the strong pricing to continue, especially as GM rolls out a diesel pickup and new heavy-duty trucks in the second half of the year. "We think the fundamentals do remain strong, especially in the truck market," she said, adding that strength in the overall economy and aging trucks now on the road should help keep the trend going. Light trucks accounted for 83.1% of GM's sales in the quarter, and pickup truck sales rose 8.5% as GM transitioned to new models of the Chevrolet Silverado and GMC Sierra, according to Edmunds, which provides content to The Associated Press. As usual, GM made most of its money in North America, reporting $3 billion in pretax earnings. International operations including China broke even, while the company spent $300 million on its GM Cruise automated vehicle unit. Its financial arm made $500 million in pretax income. Suryadevara said GM saw $700 million in savings during the quarter from restructuring actions announced late last year that included cutting about 8,000 white-collar workers through layoffs, buyouts and early retirements. The company also announced plans to close five North American factories, shedding another 6,000 jobs. About 3,000 factory workers in the U.S. whose jobs were eliminated at four plants will be placed at other factories, but they could have to relocate. GM expects the restructuring to generate $2 billion to $2.5 billion in annual cost savings by the end of this year.

Buick boss shuts down idea of importing Opel Adam

Anyone hoping for Buick to sell small city cars in America, you're not going to like this story. Buick boss Duncan Aldred has effectively ruled out importing the stylish Opel Adam city car for US drivers. Yep, this is us being bummed. Admittedly, the business case for Adam is not as strong as it used to be. Gas is cheap and consumers have fallen back in love with the idea of high-riding crossovers instead of efficient cars. That's why Buick sold twice as many teeny, tiny Encore CUVs in 2015 as it did its smallest car, the Verano. With that in mind, slotting in another car, let alone one below the Verano, isn't a great idea. Of course, Aldred didn't come out and say as much, even though he campaigned for a US-market Adam in the past. "I very much did feel when I came over that that could really help accelerate the Buick brand story," the executive told Automotive News at last week's New York Auto Show. "I don't see that as much. Whether the market shifted or the fashion nature of those cars has changed, I don't know. But I wouldn't be looking for a small, B-segment car today." That, friends, is a real bummer. Adding a car like the Adam, even in a small, captive-import capacity would add a real dose of fun to Buick showrooms and (we're guessing) would bring in younger foot traffic. Related Video:

GM recalling 135,000 SUVs with plastic jacks that can break

General Motors is recalling 135,400 compact crossovers because their emergency jack can break under load. The problem occurs when the jack — which is plastic — isn't positioned correctly as detailed in the owner's manual. This can cause the jack to fracture. If the jack breaks and the vehicle collapses, there's a risk of injury or death, according to an NHTSA recall alert. The recall involves the 2020-22 Buick Encore GX and 2021-22 Chevrolet Trailblazer. A GM test driver discovered the problem when he broke a jack during a durability test on a Trailblazer. GM started investigating in April and found 21 claims of jack failures, including one reported injury. "This jack design may not be sufficiently robust against fractures if improperly or incorrectly positioned on the vehicle frame by the user," a NHTSA safety report said. GM will start notifying vehicle owners July 26. It will provide free replacement jacks that are made of metal.   Featured Gallery 2021 Buick Encore GX View 21 Photos Recalls Buick Chevrolet GM