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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's Euro reboot may have implications for US models, sales

Firmly on the comeback trail in the US, Cadillac is still trying to get out of the starting blocks in Europe. At the Geneva Motor Show in March, Cadillac' senior execs revealed plans to grow the brand's presence in a luxury market dominated by the big three German marques, Audi, BMW and Mercedes-Benz.
GM President Dan Ammann says he sees "enormous" potential for Cadillac globally.
Over the past 20 years, the General Motors premium nameplate has tried and failed multiple times to break into the European market. This time around, Cadillac recognizes that progress will be modest at best, and depends on specific changes to models, some of which may impact the brand's US lineup. Planned new sales tactics in Europe may also impact the way Cadillac does business on this side of the pond.

2016 Cadillac CT6 shows crisp sense of style in leaked images

You're looking at the 2016 Cadillac CT6, aided by the almost inevitable internet-aided leak, ahead of its debut at the New York Auto Show this week. As you can see, the overall shape is straight-edged and aggressive, and overall in keeping with what we've seen from Cadillac over the last several years. High-tech lighting clusters extend from the fender peaks all the way down in what appear to be LED strips toward the lower fascia and its rectangular fog lights. A suitably massive grille encrusted in chrome boasts one of the larger Wreath and Crest badges we've ever witnessed on a car. Under that sharply creased hood will sit a twin-turbo 3.0-liter V6 engine with 400 horsepower at its disposal, according to Cadillac, mated to an eight-speed automatic transmission. A naturally aspirated 3.6-liter V6 will also be available, we're told. We may wish for an edgier range-topping sedan from Cadillac, but it's not really fair to draw any real conclusions from just one leaked image. In other words, stay tuned, 'cause the rest of the story won't be far behind.