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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.

GM recalls select Tahoes, Yukons, Escalades for rear driveshaft issue

GM is recalling a number of its full-size SUVs due to an issue with the rear driveshaft assembly that could ultimately result in driveshaft failure. The actual number of total vehicles involved in the recall is small at just 1,789, but it’s spread out across the entire 2021 model year full-size GM vehicle lineup. That means a small number of every model is being recalled, including the Chevrolet Tahoe, Suburban, GMC Yukon, Yukon XL and the Cadillac Escalade and Escalade ESV. GM traced the issue back to certain driveshaft assemblies with ball bearings that were not properly heat treated. If theyÂ’re not properly heat treated, GM says that the balls may deform over time, causing noise and vibration. Continue to drive in this condition, and GM says the affected joint in the driveshaft assembly could seize, causing loss of drive power. However, the problem wonÂ’t present itself all at once, as GM says there will be a gradual increase of noises and vibrations before total failure. For those few owners with affected vehicles, GM says that it will replace the left and right rear driveshaft assemblies with properly-built units. Per usual with recalls, this will be done at your local dealership at no cost to the owner. If you have one of the recalled SUVs, expect to be notified mid-March. Related video:

2021 Cadillac CT4-V Road Test Review | V is for Deja Vu

We now know that the 2021 Cadillac CT4-V is not the performance pinnacle of the line – that would be the 472-horsepower Blackwing. As it is, all the outrage spewed in the direction of Cadillac when it announced the once-great CT4-V was being downgraded to more pedestrian levels was ultimately much ado about nothing. Still, there's a kernel of truth to the notion that the new CT4-V (or CT4 V-Series as it's also known) just doesn't go far enough – or more accurately, the gap between it and the supposedly lesser CT4 Premium Luxury trim is surprisingly small. After driving the CT4 Premium Luxury with the optional 2.7-liter "450T" engine, I wrote here on Autoblog, "It's legitimately fun. You can feel the immense strength of the chassis, as well as the impeccable suspension tuning when hustling the car along. You also just feel things. There seems to be less cushion and fewer 1's and 0's between you and the car compared to other sport sedans like the BMW 3 Series and new Acura TLX. The steering has a lot to do with it: consistently weighted, regardless of drive mode, without too much speed-based adjustment, and genuine feedback filtered through the steering wheel. At the same time, the CT4 seems far more grown up and sophisticated in its engineering than the various front-drivers it competes with on price." After driving the CT4-V five months later, I wrote some notes on my computer. I later discovered they were virtually identical in overall impression to what is pasted above. It was like I had driven the same car twice. The resulting conclusion: I'd really need to exuberantly drive them back to back to notice a difference, especially as both cars had all-wheel drive. Even then, maybe not. It's perfectly plausible that many won't even notice a difference at all.  The all-wheel-drive point is key, however, because it means this CT4-V did not have the rear-drive version's Magnetic Ride Control 4.0 that always does wonders for a car's ride and handling. Maybe it would do so again here, but it's not like the CT4's ride or handling, regardless of flavor, needs much help. Much like the Premium Luxury 450T, the AWD CT4-V's fixed "performance" suspension provides a terrific balance of achieving a fast-attack pace in the mountains while not beating you up everywhere else. It absorbs bumps well and is neither crashy nor harsh. In other words, I didn't miss Magnetic Ride Control.