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GM profit dips on truck changeover, but beats estimates

DETROIT — General Motors on Thursday reported a higher-than-expected quarterly profit despite a drop in production of high-margin pickup trucks, as it gears up for new models that are expected to boost profits next year. Like rivals Ford and Fiat Chrysler Automobiles, GM is banking on highly-profitable Chevy Silverado and GMC Sierra pickup trucks to lift profits, as consumers shift away from traditional passenger cars in favor of these larger, more comfortable trucks, SUVs and crossovers. During the first quarter, the process of changing over to GM's new pickups resulted in a drop in production of 47,000 units. GM Chief Financial Officer Chuck Stevens said the production drop had resulted in a drop in pre-tax profit of up to $800 million. Earlier this year, GM said its 2018 profits would be flat compared with 2017, but expected its all-new pickup trucks would boost margins starting in 2019. On Thursday, GM reiterated its full-year 2018 forecast for adjusted earnings in a range from $6.30 to $6.60 per share. The automaker said capital expenditures were more than $500 million higher in the quarter because of investments its new pickup trucks and a family of low-cost vehicles under development with Chinese partner SAIC Motor Corp. On Wednesday, rival Ford said it would stop investing in most traditional passenger sedans in North America. CFO Stevens told reporters on Thursday that GM has "already indicated that we will make significantly lower investments on a go-forward basis" in sedans. 2019 GMC Sierra View 21 Photos GM benefited from a lower effective tax rate in the quarter, but adjusted pre-tax margin fell to 7.2 percent from 9.5 percent a year earlier. Stevens said the company's profit margin should hit 10 percent or higher in the second quarter and for the full year. GM said material costs were $700 million higher in the first quarter, and it expects those costs to continue rising. The automaker said it would counter those increases with cost cutting measures. "It is a more difficult environment than it was three or four months ago," Stevens said when asked about rising commodity prices from potential steel and aluminum tariffs announced by the Trump administration. "But we are confident we can continue to offset that." The company reported quarterly net income of $1.05 billion or $1.43 per share, a drop of nearly 60 percent from $2.61 billion or $1.75 per share a year earlier. Analysts had on average expected earnings per share of $1.24.

Is this '47 Chevrolet a rat rod or a sports car?

These days there are plenty of vehicles that blur the conventional automotive class structures. For instance, was the Honda Crosstour a wagon or an SUV? And what exactly was the Nissan Murano CrossCabriolet? Regardless, those line-blurring cars (or trucks) are out there, and though this one didn't roll off a production line, it's still quite the automotive head-scratcher. Hailing from Missouri, this epic creation is one part mad science experiment, one part 1947 Chevrolet pickup, and one part '95 Mercury Cougar. Add it all up and you get an awesome truck-sports-car hybrid, complete with an outrageous wing and a V8 to boot. And interestingly enough, it's up for sale . RELATED: Check out this Wild-Styled Lamborghini Rat Rod So how does it all come together? According to the listing, the Chevrolet truck cab (which had previously been chopped) was sanded down to bare metal and given a thorough shellacking of clear coat. It was then melded together with the front end of a 1995 Chevrolet S10 pickup truck, and set low to the ground on Bilstein suspension drop spindles. Stance achieved. But instead of fielding an engine from either of those pickups, it pulls its heart from a 2005 Chevrolet Tahoe SUV—a big 5.3-liter V8 heart, that is. It comes backed-up to a GM Turbo 400 automatic transmission. Towards the rear however is where things get really interesting. A Copper Pearl coated tube frame chassis both attaches the rear independent suspension (a la Mercury Cougar) to the racy spoiler, as well as secures the rat rod's rear-mounted radiator, fan, and fuel tank. I'm not quite sure why, but it just looks glorious. RELATED: Reports Say Mid-Engine Corvette Will Arrive in 2018 Inside the vintage cab, the Chevrolet furthers its racing proclivities (it's said to have won burnout and auto-cross events) with a pair of harnessed racing seats, a drift brake, a detachable steering wheel, and a tachometer with oil and temperature gauges, but oddly no speedometer. The shifter is a crescent wrench. And its shift boot? That's a Crown Royal Purple bag. All in all, this grin-worthy Frankenstein creation tallies up bits and pieces from four different vehicles (five if you include the Camaro wheels), which make it truly a mash-up of epic proportions. Internet, what do you think? Related Video: This article by Zach Doell originally appeared on Boldride. Design/Style Chevrolet Mercury Auctions Coupe Special and Limited Editions Classics eBay rat rod

GM 6.2L V8 claims most powerful light-duty truck engine title

General Motors has officially captured the horsepower crown for mainstream pickup trucks with its 6.2-liter V8. The big mill, available in both the Chevrolet Silverado and GMC Sierra, comes to market with 420 horsepower and 460 pound-feet of torque, handily outdoing its two cross-town competitors, Ram (5.7-liter V8, 395 ponies and 407 lb-ft) and Ford (6.2-liter V8, 411 hp and 434 lb-ft).
The new GM 6.2 will take a bit of an investment, though. Those that want the extra thrust will need to go with either the LTZ or High Country trims from the Chevy, or the SLT and Denali trims from GMC, which are the two highest trim levels for the respective vehicles. Trim levels aside, if you're in the business of towing, GM has you covered. Optioned with the 6.2-liter V8 and the Max Trailering Package, owners will be able to pull 12,000 pounds, a hugely impressive figure.
We still aren't certain as to what sort of economy the new engine will get, but it'll probably be a bad bet for the fuel conscious. As for availability, expect to see the 6.2-liter trucks in showrooms later in the fall.