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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.

2020 Buick Encore GX revealed as a bigger smaller crossover

The crossover craze has taken root throughout the car industry, but especially at Buick. The company says that 90% of its sales are of the upright utilities. So it's no surprise the brand is adding yet another model to the line-up, the 2020 Buick Encore GX. Despite the name, the Encore GX doesn't appear to share anything with the current Encore, as GM says it uses a new platform. It's also larger than the regular Encore, though it's also smaller than the midsize Envision. One area in which its slightly bigger size benefits the GX is that it has nearly five more cubic feet of cargo space than the current Encore. Other details about the crossover are scant. Buick hasn't even said what engine or transmission will be used. Buick did say the Encore GX will feature automatic emergency braking with pedestrian detection and lane-keep assist as standard features, with the rear-camera mirror as an option. The current Encore will continue to be sold alongside the Encore GX, and it won't be replaced with the version shown at the Shanghai Auto Show. Pricing and availability will be announced later, along with other vehicle details.

2018 Buick Regal TourX First Drive Review | Pop the champagne, it's another wagon!

As a newborn member of an endangered species, we should probably pop open the Dom to fete the arrival of the 2018 Buick Regal TourX. It's a wagon, after all, and if there's anything we automotive writers have been clamoring for is more wagons. "Forget those SUVs," we've implored. "This wagon over here is better! Just as much cargo space, better to drive! And have you seen it in brown?" Well, it seems like our collective proselytizing is starting to pay off, or perhaps far more likely, consumer tastes are shifting a bit to appreciate the wagon. Sure, they need to be lifted a bit and sport plastic fender flares to add a wee bit of SUV-ish flavor, but who the hell cares? Beggars, choosers, etc. It's a wagon, and we should be happy it's here. And we are, the Regal TourX is a pretty good one that thankfully offers more than just its mere existence. It especially delivers on the space front, which is refreshing since most of today's wagons are not as cargo friendly as the collective "we" would like to admit. An Audi Q5 regrettably does have more cargo space than an Audi A4 Allroad. Yet, the TourX has more than both – considerably more in fact, coming in at a certifiably huge 73.5 cubic feet of maximum space. The difference is palpable between it and the 53.5-cubic-foot Allroad, which Buick considers the TourX's closest competitor. As the below video (somewhat) demonstrates, I was able to cram 12 Patagonia duffle bags into the Allroad, filling up most of the cabin. The same amount in the TourX left tons of residual space, you could still see out the back and loading it all in didn't require a degree in Advanced Tetris. There's also a far more useful amount of space with the back seat raised (32.7 vs. 24.2). That area is especially lengthy, and with the large rear quarter windows and reasonably square roofline, it should be a good choice for dog owners. There's no built-in dog net behind the back seat as you'll find in the Allroad and BMW 3 Series wagon (you'd have to go the aftermarket route), but your four-legged buddy should at least appreciate the lower liftover/jump-aboard height. Which brings us to the next wagon benefit: the lower roof height. According to Buick's marketing folks, people who buy off-roadish wagons like the Regal TourX are far more likely to actually live the outdoorsy active lifestyles the owners of SUVs usually only envision for themselves.