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GM sees 'strong year' in 2018, then gold in Chevy Silverado for 2019

DETROIT — General Motors said on Tuesday it expects earnings in 2018 to be largely flat compared with 2017, but that profits should pick up pace in 2019 as its revamped line of high-margin pickup trucks hits the U.S. market. The 2018 earnings outlook was above market expectations, sending GM shares up more than 3 percent in premarket trading. "GM had a very good 2017 as we continued to transform our company to be more focused, resilient and profitable," GM Chief Executive Mary Barra said in a statement. "We are positioned for another strong year in 2018 and an even better one in 2019." GM and its Detroit rivals, Ford and Fiat Chrysler Automobiles, are bringing on new trucks at a time when overall U.S. new vehicle sales have been falling, but truck sales continue to grow as consumers abandon passenger cars in favor of pickups, SUVs and crossovers. GM on Saturday fired a new round in the battle for profits from one of the U.S. auto industry's most lucrative segments when it showed a new generation of its Chevrolet Silverado pickup truck at the Detroit auto show. The new Silverado, a highlight of the event, is the successor to GM's best-selling vehicle in North America. Sales of the current Silverado rose nearly 2 percent to 585,000 vehicles in 2017. In the coming months, the company will also reveal a revamped GMC Sierra pickup truck. U.S. new vehicle sales fell 2 percent in 2017 after hitting a record high in 2016, and are expected to drop further in 2018 as interest rates rise and more late-model used cars return to dealer lots to compete with new ones. GM said on Tuesday that while it retools a factory in Ft. Wayne, Indiana, to make the new pickup trucks, it will shift some production to an Oshawa, Ontario, plant in order to avoid missing sales in a hot market for the vehicles. The No. 1 U.S. automaker said it will record a $7 billion non-cash charge for its fourth-quarter 2017 earnings related to deferred tax assets. GM said it expects capital expenditure in 2018 of around $8.5 billion, about $1 billion of which will go toward funding self-driving car technology. Last week, the company said it is seeking U.S. government approval for a fully autonomous car — one without a steering wheel, brake pedal or accelerator pedal — to enter the automaker's first commercial ride-sharing fleet in 2019. GM said it expects 2017 earnings per share at the high end of its previously forecast range of $6 to $6.50.

Awaiting Chevy Trailblazer, driving Ford Ranger | Autoblog Podcast #580

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Consumer Editor Jeremy Korzeniewski and Green Editor John Beltz Snyder. First, they discuss the news, including the Chevy Trailblazer, Ferrari to stop providing Maserati with engines, an upcoming Ferrari Hybrid, Elon Musk's sex jokes and the reveal of the McLaren GT. They also talk at length about a couple vehicles they've been driving: the Kia Niro EV and the Ford Ranger. Autoblog Podcast #580 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Chevy Trailblazer could be coming to the U.S. Ferrari to stop supplying engines to Maserati Ferrari to reveal a hybrid supercar Sex on Autopilot McLaren GT revealed Cars we're driving: 2019 Kia Niro EV 2019 Ford Ranger Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Green Podcasts Chevrolet Ferrari Ford Kia Maserati McLaren Tesla Truck Coupe Crossover Hatchback Electric Future Vehicles Hybrid Off-Road Vehicles Performance Supercars

Here's why automakers roll out those Texas-themed pickup trucks

Every year, automakers with a full-size truck link make a big show of the Texas State Fair, usually involving a reveal of a new model. Sometimes they show a whole new truck, and other times a special edition centered on the Lone Star state. While some people might write this off as a quirk of the industry, others might be wondering, "What's the big deal with Texas?" As it turns out, part of the big deal with Texas is big truck sales. According to Dave Sullivan, product analysis manager at AutoPacific, Texas buys more trucks than any other state in the country. It's not a small margin either. Edmunds.com, one in five trucks sold in the US are sold in Texas. The state also accounts for 15 percent of the country's large truck sales, which is more than twice that of California, the second largest truck market in America. Even when you break down sales only in Texas, trucks are a huge piece of the pie - Sullivan says that a quarter of new vehicle sales in Texas are trucks. One in five trucks sold in the US are sold in Texas. But it's not just sales that make truck builders give attention to Texas. As Sullivan explained, "Pickups are life in Texas." Both he and Hugh Milne, marketing and advertising manager for the Chevy Silverado line, said that trucks are key fixtures in Texas society, as both work trucks and luxury vehicles (or Texas Cadillacs as Milne called them). Milne said Texas is so important in the truck market that if you want to be successful in the rest of the country, "you've got to be successful in Texas." As for the State Fair, it has become a prime location for reveals in part because of the importance of the Texas market and because of how big the fair is. Milne also revealed that the State Fair also hosts its own auto show, so it's an ideal venue for a vehicle introduction. So there you have it. Why do truck builders obsess over Texas? It's because Texas obsesses over trucks. When you have one market that loves your product that much, you give it the attention it deserves. Related Video: Image Credit: Donovan Reese via Getty Images Auto News Marketing/Advertising Chevrolet Ford RAM Truck f-150 texas state fair