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General Motors posts record earnings, but global sales fall

General Motors started the year with record success. The automaker's $2.7 billion in adjusted earnings before interest and taxes was its highest ever in in the first quarter of 2016, up from $2.1 billion in from the same time period a year earlier. Net income grew to $1.95 billion, which was more than double the $953 million in the same period last year. The company's figures also beat analysts' predictions, according to the Detroit Free Press. Despite the financial growth, global sales actually decreased by 2.5 percent to 2.36 million vehicles. "We're growing where it counts, gaining retail share in the US, outpacing the industry in Europe and capitalizing on robust growth in SUV and luxury segments in China," CEO Mary Barra said in the company's financial announcement. GM did well in North America with an adjusted EBIT of $2.3 billion, up from $2.2 billion last year. Sales in the region also grew 1.2 percent to 800,000 vehicles. According to The Detroit Free Press, the company has been especially successful at selling more expensive models in the US. The company's average vehicle was $34,600 in Q1, about $3,000 more than the industry average. Elsewhere in the world, GM also showed improvement. Europe practically broke even after losing about $200 million last year, and Opel and Vauxhall sales grew 8.4 percent to more than 300,000 vehicles for the quarter. South America only lost $100 million, which was half as much as Q1 2015's $200 million loss. China remained flat at $500 million of income. Cadillac volume jumped 6.1 percent there, and Buick's deliveries increased 22 percent, thanks to the Envision crossover's success. GM Reports First-Quarter Net Income of $2.0 Billion 2016-04-21 EPS diluted of $1.24; First-quarter record EPS diluted-adjusted of $1.26 First-quarter record EBIT-adjusted of $2.7 billion GM Europe posts break-even performance DETROIT – General Motors Co. (NYSE: GM) today announced first-quarter net income to common stockholders of $2.0 billion or $1.24 per diluted share, compared to $0.9 billion or $0.56 per diluted share a year ago. Earnings per share diluted-adjusted for special items was a first-quarter record at $1.26, up 47 percent compared to the first quarter of 2015. The company set first-quarter records for earnings and margin, with earnings before interest and tax (EBIT) adjusted of $2.7 billion and EBIT-adjusted margin of 7.1 percent.

Facelifted Buick LaCrosse caught in China

Back in September, General Motors promised nine new or refreshed models for its Buick and GMC brands within 12 months, and while we've already seen what the updated 2014 GMC Sierra will look like, we're now getting our first look at what appears to be the facelifted 2014 Buick LaCrosse. Judging by a set of spy shots posted on Autohome showing a Chinese-market model, the updated sedan is getting a pretty big makeover, including a completely redesigned interior and a refreshed exterior.
From the outside, all of the usual midcycle updates have been made to the LaCrosse, including new lights and fascias. The new front end features a larger, reshaped seven-sided grille, LED-trimmed headlights and Buick's signature portholes are now mounted on the side edges of the hood to be more visible. The rear view has similarly small yet refined changes such as the new decklid with a chrome brow that stretches the full width of the car, to a more squared-off rear fascia with exhaust outlets pushed out to the corners. From the single shot we can see, the LaCrosse's new rump looks very similar to the Hyundai Equus.
The second-generation LaCrosse helped reestablish Buick as a near-premium automaker with its interior quality, and the next model could very well up the stakes even more. The new cabin design ditches the wraparound wood trim on the instrument panel and door panels for a smoother, more contemporary look. While it's hard to make out all of the changes, we can instantly see that the center stack is now more upright with fewer buttons, but the biggest news might be the cabin technology the 2014 LaCrosse might offer. Checking out the shot of the center console, we see what looks to be a pad similar to the handwriting recognition technology used by Audi, which would make this a first for GM.

MotorWeek remembers the nearly forgotten Buick Reatta

The Reatta was Buick's failed experiment to take on European competitors with its own two-seat luxury coupe and convertible. The model only lasted a few years, and US customers didn't see another droptop from the brand until the Cascada. The latest MotorWeek Retro Review takes a look back at the short-lived roadster and remembers it quite fondly. Host John Davis calls the 1990 Reatta droptop "one of the best looking convertibles ever." His sentiment seems a little hyperbolic, but the roadster is definitely an attractive machine by the standards of the time. The smooth front end and pop-up headlights are reminiscent of Japanese sports cars of era, and the profile with the top down is elegant. There are weaknesses, though. The manual roof mechanism appears cumbersome to operate, and the crude digital instruments, which simulate physical dials, make the cabin look too dated. Other than a complaint about over-boosted power steering, MotorWeek enjoys how the Reatta drives, too. Buick's roadster is largely forgotten today, but such glowing praise suggests it deserves to be better remembered. Check out this Retro Review to look back on this interesting experiment from the early '90s. Related Video: