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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.

Cadillac flagship, possible production Elimiraj, caught testing

One of the biggest debuts at the Monterey car week, both literally and figuratively, was the Cadillac Elmiraj Concept. The massive coupe made quite a splash with the show's well-heeled guests. Now, we have what might be the very first images of the Elmiraj, or whatever it may be called when it reaches production, out testing.
Don't let that modified Chevrolet Caprice body fool you, this car is about four to six inches longer than Chevy's US-spec cop car, from the A-pillar forward. According to our spy, with the Caprice at 203 inches and the concept at 205, adding a few extra inches here and there fits the bill for the four-door Elmiraj that was hinted at in Jay Leno's Garage.
There are a number of other classic mule signs on this car, including a cover over the fuel door and heavily modified front and rear fascias, each of which serves to hide some significant change from the standard Caprice. Using a Caprice for development also, hopefully, hints at something that big Cadillacs like the XTS have lacked - rear-wheel drive.

2015 Cadillac Escalade

Cadillac has been an interesting story in the auto industry over the past several years. Its comeback bid may be well over a decade old, but it's only recently that the Wreath and Crest has transformed from the auto industry's retirement home into its hot new thing. Today's Cadillac is a powerful marque working to instill passionate design, sound driving dynamics and cutting-edge technology into each model it builds, with vehicles like the ATS and redesigned CTS leading the charge.
Now, its latest model has arrived. This fourth-generation Escalade is among the most important new Cadillacs since the division's renaissance kicked into high gear. It's the brand's de facto flagship, and the first vehicle many young people think of when hearing the name "Cadillac." In the past, the Escalade was the chosen vehicle of the rich, flashy and famous. It's suffered over the past few years, though, particularly as new and more luxurious competitors have come to the fore.
With this latest redesign, General Motors is aiming to retake the spotlight as purveyors of the market's premier luxury SUV. To find out if it's been successful, I ventured down to the South Carolina Lowcountry to test the all-new 2015 Escalade.