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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

2014 Buick LaCrosse to sticker at $34,060*

Buick first showed the facelifted 2014 LaCrosse at this year's New York Auto Show, and General Motors' luxury-ish arm has now confirmed that pricing for the updated sedan will start at $34,060 (*including $925 for destination), a increase of $1,505 over the 2013 model.
Buyers will be treated to an updated appearance, both inside and out. On the outside, tweaks were made to the LaCrosse's front and rear fascias, and new wheels are on offer (though the ones seen on the car pictured above seem to have been simply pulled from the 2011 Regal Turbo). Inside, there's a much cleaner center stack layout, complete with a standard eight-inch reconfigurable touchscreen IntelliLink interface. Buick is also offering a new Ultra Luxury interior package ($2,495), featuring Tamo Ash wood throughout the cabin, black synthetic suede on the headliner and leather seats in a new sangria color. Standalone options include different wheels, Bose audio, rear seat entertainment, navigation and a sunroof.
The 2014 LaCrosse's base powertrain is the trusty 2.4-liter four-cylinder engine with eAssist, which is capable of achieving up to 36 miles per gallon on the highway. But for folks wanting more power, a 304-horsepower, 3.6-liter V6 is available as a no-cost option, available with either front- or all-wheel drive.

Buick Cascada dies the death everyone expected

Four months ago, the Grim Reaper came for the Opel Cascada. Groupe PSA, which bought Opel from General Motors in 2017, announced the two-door convertible would be phased out. On sale here since 2016 as the Buick Cascada, GM told us it had nothing to say about PSA's announcement. On Friday, the U.S. automaker spoke up, telling Automotive News the droptop "has reached the end of its originally-planned lifecycle and 2019 will be the last model year offered. Dealers have been notified and many will have stock through the rest of this year." Buick paid big money to advertise its first convertible since the 1991 Reatta. Buick threw money at Super Bowls ads and a gaggle of celebrities two years in a row. And when sales began in 2016, Buick enlisted The Unbreakable Kimmy Schmidt star Ellie Kemper for a series of television and online spots. U.S. dealers have been instructed to file final orders this month, and production will continue at the factory in Poland until this summer. Yet the fact we're in February and dealers are predicted to have stock for the next ten months says everything necessary about the state of play. The brand sold roughly 17,000 units in three years, and both 2017 and 2018 saw sales declines of more than 25 percent. Buick didn't expect huge sales from the import, though, and the Cascada earned conquest buyers. A spokesman said, "The Cascada has played its role in the portfolio perfectly, outselling many other premium convertibles while bringing in [6 of every 10] buyers from outside GM." Last we heard, the LaCrosse ceases production next month. Unless the situation changes before the end of the year, Buick will have only the Regal on its passenger car books come 2020. GM will only have two convertibles in its portfolio worldwide, the Chevrolet Camaro and Corvette. Related Video: