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GM posts $4 billion third-quarter profit thanks to trucks and SUVs

DETROIT — General Motors is posting huge third quarter numbers, pulling in $4 billion in profit over three months after losing money due to the virus outbreak. GM's adjusted earnings were $2.83 per share, easily outpacing Wall Street's per-share projections of $1.43, according to a survey by FactSet. Revenue of $35.5 billion also edged out most expectations. Shares jumped almost 6% before the opening bell Thursday. The company swung back from a $806 million loss in the second quarter, when it was restarting factories shuttered for safety during the early stages of the pandemic. The Detroit automaker joined most global automakers in reporting better-than-expected earnings from July through September as sales across the globe started to rebound from coronavirus lockdowns, especially in China. GM sales in China jumped 12% in the third quarter, with sales of its Buick and Cadillac brands both rising more than 25%. In the U.S., GMÂ’s most profitable market, sales fell 9.9% in the third quarter compared with a year ago, but were a dramatic improvement over the 34% drop in the second quarter. Sales improved sequentially each month, the automaker said, an encouraging trend. GMÂ’s profit was boosted by higher-priced pickup trucks and large SUVs, which have seen strong sales in the U.S. through the pandemic. It was the best quarter on record for GM's Chevrolet Blazer. Sales of the Cadillac XT6 spiked 45% in the U.S. over last year. Large pickups also sold well. GM also said it was pumping $2 billion into its Spring Hill, Tennessee manufacturing plant to push its transition to produce electric vehicles. Last week, crosstown rivals Fiat Chrysler and Ford reported strong third-quarter net income. FCA said it made $1.4 billion for the period, while Ford earned $2.39 billion. Related Video: Earnings/Financials Buick Cadillac Chevrolet GM GMC

Chevrolet donates 300 vehicles damaged by Sandy to help train first responders

Super Storm Sandy took out a lot of automobiles in its path of destruction through the Northeast last October. The number surpassed 250,000 at last count, and a few of those were owned by Chevrolet - cars either sitting on dealership lots or waiting at port to be shipped off. Rendered unsellable by the water damage inflicted by Sandy, these vehicles were facing the crusher. But Chevy didn't send them there.
Instead, Chevy had a better idea: It will be donating 300 of these vehicles damaged by Sandy to help train first responders at Guardian Centers in Perry, GA. Chevy is the official automotive partner of Guardian Centers, which is an 830-acre facility that trains first responders in disaster preparedness. Junked cars are practically a consumable commodity there, where a full-size cityscape simulator gives trainees an entire urban center in which to train for all sorts of rescue operations and disaster scenarios.
Chevy says its particular vehicles will be used "in conjunction with role players for wide area searches, traffic congestion in emergency situations, counter terrorism, public order and mass casualty exercises." While grim scenarios all, we're certainly glad there are people out there preparing for the unexpected. While a zombie apocalypse isn't officially on the list of potential disasters to prepare for, when the virus hits, we'll be hot-footing it to Perry, GA to hang with these guys and gals.

'Tomorrowland' movie will advertise Chevy Volt, E-NVs

Before the 2016 Chevrolet Volt arrives at dealerships, it's going to come to a cineplex near you. The next-generation hybrid and the EN-V electric networked vehicle concept will play bit parts in the background of the upcoming Disney movie Tomorrowland starring George Clooney and Britt Robertson. Chevrolet will run digital and television ads around the movie's opening, which is May 22 in the US. The Bowtie and Disney tie-up is another in their years-long collaboration, going back to the revamped Test Track that opened at Epcot Center in 2012, and Chevolet is also the official vehicle of Shanghai Disney. The press release below has more on the movie and the Volt, the movie trailer is above – there's no Volt in it, but there is a late-model Buick. Chevrolet and Disney See Possibilities in 'Tomorrowland' Film to help kick off marketing efforts for next-generation Chevrolet Volt DETROIT, 2015-03-26 – At their core, Disney and Chevrolet are entities of optimism, believing that with a little ingenuity, anything is possible. They will come together in the new Disney film "Tomorrowland" to imagine the possibilities. The all-new 2016 Chevrolet Volt and EN-V concepts appear in the backdrops of the present day and Tomorrowland. The film's U.S. debut is May 22. In Disney's riveting mystery adventure "Tomorrowland," a jaded scientist and an optimistic teen embark on a danger-filled mission to unearth the secrets of an enigmatic place somewhere in time and space. "Tomorrowland is a place where nothing is impossible, which is something that Chevrolet believes can exist in the here and now," said Tim Mahoney, vice president, Global Chevrolet. "The Chevrolet spirit reflects the hopes and possibilities of tomorrow in real instruments of change for today like the next-generation Chevrolet Volt." The first marketing efforts for the 2016 Chevrolet Volt will be tied to Tomorrowland. A television spot and digital advertising will debut in early May. The all-new Volt is an electric car with extended range, showcasing a sleeker, sportier design that offers 50 miles of EV range, greater efficiency and stronger acceleration. The Volt's new, efficient propulsion system will offer an estimated total driving range of more than 400 miles. With regular charging, owners can expect to average more than 1,000 miles between gas fill-ups. Chevrolet and Disney have a long history of collaboration around the globe.