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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.

Next Buick Regal to inherit styling cues from Opel Monza concept

Ever look at a concept car from a foreign auto marque like Opel and wonder what relevance it will have to you as an American consumer? Well, we'll tell you: at least as far as the Opel Monza concept goes, it could mean a lot.
Speaking with Automotive News at the Paris Motor Show, Opel chief Karl-Thomas Neumann said, "You will see the Monza when you see the next Insignia." And the Insignia, we needn't point out, is essentially ported over to American showrooms as the Buick Regal.
The relationship between the Regal and Insignia only stands to grow closer as Opel design chief Mark Adams has also been charged with tightening the bonds between the two automakers positioned on opposite shores of the Atlantic. Adams also intends to imbue the next Insignia with more "premium brand values" in order to "add polish to the brand." Which in turn means that the Regal will be designed to look more upscale, too.

Opel readying Adam model with SUV cues

The Opel Adam, the microcar of General Motors' European subsidiary, has seen its sales cool significantly since it first hit the market in the United Kingdom and Europe, but a push is reportedly under way that just might be enough to get the stylish, little car moving again.
Using the Opel Adam Rocks Concept as a template, Opel will ruggedize the Adam, so that it might compete with the growing herd of city cars that sport SUV styling, like the Volkswagen Cross Up and Fiat Panda 4x4, according to a report from Automotive News Europe. Sporting a bumped-up ride height and tougher body work, it's a dedicated soft-roader, but will freshen the Adam's lineup and, hopefully, broaden its customer appeal.
The Adam Rocks, according to IHS Automotive analyst Ian Fletcher, should also make some more coin for GM's struggling European arm. "Automakers are happy to meet demand for SUV and crossovers as the customer pays a premium," Fletcher told ANE. And although the Rocks might have been planned from the start as a production vehicle, the timing, with the Adam's sales slowdown, doesn't seem like a coincidence.