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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.

2016 Buick Envision might be your first Chinese-built crossover

At the Detroit Auto Show, the new Envision crossover flips the traditional Buick paridigm on its head. We've been hearing for years about strong sales of the Buick brand in China, but now we'll see if North America is ready for a Chinese-built (but, as GM is very quick to point out, American-engineered) CUV. The Envision rides on the latest version of the Delta 2 platform that underpins many GM vehicles. It'll slot between the tiny Encore and the cavernous Enclave, which is a nice sweet spot for volume sales in the hot crossover market. Gas is cheap, and Americans are eating these vehicles up – in a market like this, does it really matter where the Envision was actually screwed together? The powertrain package is surprisingly compelling – perhaps there will be some life to the driving experience. Motivation is provided by a 252-horsepower turbo inline-four and a six-speed auto, and in a first for a Buick crossover, it'll feature the torque-steer fighting HiPer suspension, which splits up steering and suspension duties in a way that'll tidy up the front axle's manners under power. A few other neat tricks make it into the Envision, like active grille shutters to squeeze some extra efficiency out of the CUV, and available park assist. The 2016 Buick Envision goes on sale later this year. Buick Introduces Envision Luxury Crossover DETROIT – The 2016 Envision is an all-new luxury compact crossover with segment-challenging driving dynamics, advanced technology, connectivity and Buick's trademark interior acoustics. It is a global vehicle, designed from the ground up as a Buick luxury compact crossover. It goes on sale in the U.S. in the second quarter of 2016. "The all-new Buick Envision is a modern, confident and responsive luxury compact crossover that combines the brand's core characteristics with great performance features like our HiPer strut suspension," said Duncan Aldred, vice president of Buick.

Buick unveils 2020 Encore and Encore GX in Shanghai

As expected, Buick pulled the covers off its refreshed Encore and brand-new Encore GX at the 2019 Shanghai Motor Show. It's not surprising that Buick would unveil these crossovers in China considering that's the automaker's largest market, but we expect at least one of these crossovers to come to the States to replace our current Encore, which has been Buick's best-selling model for the last three years. Buick hasn't yet release a whole lot of information about its new Encore twins besides coyly describing the GX as a longer-wheelbase version of the Encore. In reality, we think there's quite a bit of difference between these two Encores. The regular Encore is similarly sized to the current version, which is heavily based on the Opel Mokka, and it's probably based on an updated version of GM's Gamma II platform called GEM, which stands for Global Emerging Markets. 2020 Buick Encore for China View 2 Photos The larger Encore GX is likely sitting atop GM's newer VSS-F platform. We don't know exactly how much bigger the GX is than the regular Encore, but we wouldn't be surprised if it's this larger version that will be sold Stateside. An unknown range of four-cylinder Ecotec engines will be offered in China, paired to either a nine-speed automatic or optional continuously variable transmission. Regardless of what's underneath, these two Encore models share the same sense of style, and it's a look we can get behind. A wide winged grille is bisected by a chrome strip that carries the Buick Tri-Shield emblem front and center. The rest of the sheetmetal is taut and crisp, with concave bodysides and muscular flanks. We'll have to wait and see what tweaks are made to the American Encore, what powertrain it will feature, and when exactly it will go on sale. In the meantime, feel free to check out the gallery up above.