Classic Buick Skylark Gs! 2 Dr Hardtop Muscle Car! With Rare 445 Wildcat Motor on 2040-cars

Auto blog

GM sees 'strong year' in 2018, then gold in Chevy Silverado for 2019

DETROIT — General Motors said on Tuesday it expects earnings in 2018 to be largely flat compared with 2017, but that profits should pick up pace in 2019 as its revamped line of high-margin pickup trucks hits the U.S. market. The 2018 earnings outlook was above market expectations, sending GM shares up more than 3 percent in premarket trading. "GM had a very good 2017 as we continued to transform our company to be more focused, resilient and profitable," GM Chief Executive Mary Barra said in a statement. "We are positioned for another strong year in 2018 and an even better one in 2019." GM and its Detroit rivals, Ford and Fiat Chrysler Automobiles, are bringing on new trucks at a time when overall U.S. new vehicle sales have been falling, but truck sales continue to grow as consumers abandon passenger cars in favor of pickups, SUVs and crossovers. GM on Saturday fired a new round in the battle for profits from one of the U.S. auto industry's most lucrative segments when it showed a new generation of its Chevrolet Silverado pickup truck at the Detroit auto show. The new Silverado, a highlight of the event, is the successor to GM's best-selling vehicle in North America. Sales of the current Silverado rose nearly 2 percent to 585,000 vehicles in 2017. In the coming months, the company will also reveal a revamped GMC Sierra pickup truck. U.S. new vehicle sales fell 2 percent in 2017 after hitting a record high in 2016, and are expected to drop further in 2018 as interest rates rise and more late-model used cars return to dealer lots to compete with new ones. GM said on Tuesday that while it retools a factory in Ft. Wayne, Indiana, to make the new pickup trucks, it will shift some production to an Oshawa, Ontario, plant in order to avoid missing sales in a hot market for the vehicles. The No. 1 U.S. automaker said it will record a $7 billion non-cash charge for its fourth-quarter 2017 earnings related to deferred tax assets. GM said it expects capital expenditure in 2018 of around $8.5 billion, about $1 billion of which will go toward funding self-driving car technology. Last week, the company said it is seeking U.S. government approval for a fully autonomous car — one without a steering wheel, brake pedal or accelerator pedal — to enter the automaker's first commercial ride-sharing fleet in 2019. GM said it expects 2017 earnings per share at the high end of its previously forecast range of $6 to $6.50.

Little-bit-bigger 2020 Buick Encore GX gets two three-cylinder engines

Ford broke the ice on selling three-cylinder engines in the U.S. with the 2014 Fiesta, then followed up with the EcoSport. Buick is about to widen that supermini-sized crack in the ice with the 2020 Encore GX. The semi-subcompact crossover will come in three trim levels that mix-and-match two turbocharged three-cylinder engines, two transmissions, and two drivetrains. The smaller engine is a 1.2-liter three-pot with 137 horsepower and 166 pound-feet of torque. This comes in one horse and 18 lb-ft of twist beyond the 1.4-liter four-cylinder in the smaller Encore. This engine will only be paired with a CVT and front-wheel drive in the Preferred, Select, and Essence trims. The meatier motor is a 1.3-liter three-cylinder with 155 hp and 174 lb-ft. That's down on the 163 hp and 177 lb-ft that the same engine produces in the Chinese-market version of the Encore GX. However, it gets buyers close to the 1.4-liter turbocharged four-cylinder that used to be optional on the smaller Encore, producing 153 hp and 177 lb-ft. This engine can be optioned on the front-wheel drive Select and Essence trims, where it would be mated to the CVT. The 1.3-liter three-cylinder is standard on all trims optioned with all-wheel drive, where it gets paired with GM's nine-speed automatic. GM does say the horsepower figures are estimates at the moment, so don't be surprised at any slight changes before deliveries begin next year. The Encore GX will serve buyers who would love it if the Encore had a bit more room but don't want to step up to the Envision. For a price GM hasn't announced yet, the Encore GX will reward those buyers with five more feet of cargo space, and some extra power for all those who decide to level up further. The junior Encore weighs just over 3,200 pounds, it's likely the Encore GX will shade that some. The Encore GX does ride on GM's new VSS-F platform, though, so the advanced architecture could provide an overall superior experience even with the lesser three-cylinder. GM has also said that the Encore GX will come standard with safety kit like forward collision alert and lane keep assist with a lane departure warning, features that are cost extras on the Encore. The Encore GX will also include automatic emergency braking, which can't be had on the Encore at any price.

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.