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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 ATS failing to command BMW 3 Series-like pricing as hoped

The BMW 3 Series has long been the benchmark for small and sporty luxury vehicles, but the Cadillac ATS has come on strong in its short time on the market as a true rival in this segment. As impressive as Cadillac's new compact sedan is, however, Automotive News is reporting that the car is still lagging behind the 3 Series when it comes to actual transaction pricing.
According to the article, the average transaction price for the ATS is $39,459 while the 3 Series is at a much larger $44,764, but, just as importantly, Cadillac has about $500 more in incentives on the ATS compared to BMW. Transaction prices are much closer to cars like the Mercedes C-Class and Audi A4. Of course, this is all with the ATS trying to take on its small,sport sedan rivals with a single bodystyle and limited powertrain options compared to the numerous options available from the German automakers in this class.
This uneven battle won't last long, though, as recent spy shots have revealed that Cadillac is hard at work on a high-performance ATS-V and an ATS Coupe. No official word as to when either of these models will be unveiled, but with auto show season set to kick off, we're expecting sooner rather than later. The best news for the ATS is that the Automotive News says sales of the ATS are on target and that 74 percent of ATS buyers are new to Cadillac - two important factors for the brand as it tries to break into this tough segment.

Weekly Recap: Cadillac's crossover blitz hinges on the 2017 XT5

Cadillac's aggressive new cadence of crossovers begins next spring with the arrival of the 2017 XT5, the first of four new utility vehicles that Cadillac will unleash in a bid to win more customers and revitalize its image. The XT5 replaces the aging SRX, and it's the first SUV to use the brand's new naming scheme (cars will use the corresponding CT prefix). Billed as the cornerstone of Cadillac's remade crossover lineup, the XT5 will join showrooms right after Caddy's new flagship, the CT6 sedan. It will be on display next week at the Los Angeles auto show after first appearing this month at the Dubai motor show. "It's pivotal to our ongoing growth, which is why we've developed XT5 from the inside out to provide customers more space, more technology, more luxury, and more efficiency," Cadillac president Johan de Nysschen said in a statement. "Pivotal" is almost understating the XT5 and the red-hot midsize crossover segment. The SRX is Cadillac's top seller in 2015, posting a 25-percent increase and its 56,732 units (up 25 percent) are more than one third of the brand's 141,090 sales this year. Yes, the totals have been partially incentive-fueled, and Cadillac put an average of $7,225 on the SRX's hood in October, according to TrueCar data. Still, it's an impressive performance for any vehicle, especially one that's had few major changes since the new generation launched as a 2010 model. "The SRX has been selling very well, given how late in the lifecycle it is," AutoPacific product analysis manager Dave Sullivan told Autoblog. It outsold the all-new MKX last month and really only trails the Lexus RX. This is the volume model for Cadillac and dealers need this to be a grand slam, not just a home run." Cadillac is adamant the XT5 isn't an SRX re-skin. It has a new chassis, more interior room, and adds features like Apple CarPlay and Android Auto. Thanks to a new structure, the XT5 sheds 278 pounds compared with its predecessor, which should improve fuel economy and driving character. The crossover uses General Motors' latest 3.6-liter V6 rated at 310 horsepower and 270 pound-feet of torque, and it is fortified with variable-valve timing, cylinder-deactivation, and stop-start features. The V6 will team with an eight-speed automatic transmission and a twin-clutch all-wheel-drive system than can summon all of the torque distribution to the front or rear axles. Cadillac will also sell a 2.0-liter turbo four-cylinder model in China.