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GM earnings rise 1% as buyers pay more for popular pickups

DETROIT — General Motors said Thursday that higher prices for popular pickup trucks and SUVs helped overcome slowing global sales and profit rose by 1% in the second quarter. The Detroit automaker said it made $2.42 billion, or $1.66 per share, from April through June. Adjusting for restructuring costs, GM made $1.64 per share, blowing by analyst estimates of $1.44. Quarterly revenue fell 2% to $36.06 billion, but still beat estimates. Analysts polled by FactSet expected $35.97 billion. Global sales fell 6% to 1.94 million vehicles led by declines in North America and Asia Pacific, Middle East and Africa. The company says sales in China were weak, and it expects that to continue through the year. In the United States, customers paid an average of $41,461 for a GM vehicle during the quarter, an increase of 2.2%, as buyers went for loaded-out pickups and SUVs, according to the Edmunds.com auto pricing site. The U.S. is GM's most profitable market. Chief Financial Officer Dhivya Suryadevara said she expects the strong pricing to continue, especially as GM rolls out a diesel pickup and new heavy-duty trucks in the second half of the year. "We think the fundamentals do remain strong, especially in the truck market," she said, adding that strength in the overall economy and aging trucks now on the road should help keep the trend going. Light trucks accounted for 83.1% of GM's sales in the quarter, and pickup truck sales rose 8.5% as GM transitioned to new models of the Chevrolet Silverado and GMC Sierra, according to Edmunds, which provides content to The Associated Press. As usual, GM made most of its money in North America, reporting $3 billion in pretax earnings. International operations including China broke even, while the company spent $300 million on its GM Cruise automated vehicle unit. Its financial arm made $500 million in pretax income. Suryadevara said GM saw $700 million in savings during the quarter from restructuring actions announced late last year that included cutting about 8,000 white-collar workers through layoffs, buyouts and early retirements. The company also announced plans to close five North American factories, shedding another 6,000 jobs. About 3,000 factory workers in the U.S. whose jobs were eliminated at four plants will be placed at other factories, but they could have to relocate. GM expects the restructuring to generate $2 billion to $2.5 billion in annual cost savings by the end of this year.

Chevy reveals Colorado Z71 Trail Boss Edition

Chevrolet wants to make sure that if people are in the market for a midsize pickup, then there is a Colorado available to fit their desires. For businesses, there's the recently unveiled box delete package and for those looking for a customized look, there's the GearOn Edition. For the latest Z71 Trail Boss version, the automaker is going for folks planning to go off-road. As the name suggests, all Trail Boss versions of the Colorado start with the already off-road-inlined Z71 trim level, including its 305-horsepower, 3.6-liter V6 and six-speed automatic, and the package can be added to practically any body variant: extended or crew cab, long or short bed and rear- or four-wheel drive. To set things apart, there's a locking rear differential, front tow hooks, darkened 17-inch wheels that are shod with Goodyear Wrangler DuraTrac tires and on the four-wheel drive models, a transfer case shield. For some extra style, the Colorado Trail Boss wears black parts for the fender flares, side steps and Bowtie badges. The bed also gets a spray-on liner and a few parts from the GearOn accessory catalog, including the tie-down rings, load bar and cargo divider. The Trail Boss goes on sale in the spring, and to add all of this equipment to a Colorado, it costs $3,320 in addition to the price of any Z71 trim model. Related Video: Chevy Colorado Z71 Trail Boss Edition: On Point, Off Road When adventure calls, the Trail Boss has your back 2015-03-06 CLEVELAND – For those who want to blaze their own trails, Chevrolet introduces the 2015 Colorado Z71 Trail Boss edition today at the Cleveland Auto Show. The Trail Boss combines the capability of Chevrolet's Z71 off-road truck suspension package with more aggressive tires and additional appearance enhancements. It is offered in extended and crew cab configurations, with a choice of a long or short cargo bed and available 4WD. The Trail Boss goes on sale this spring with a starting price of $28,505 plus the package price of $3,320. "The Chevrolet Colorado Z71 Trail Boss Edition is equally at home blazing an urban trail or following one to a favorite remote campground," said Tony Johnson, Colorado marketing manager.

2016 Chevy Volt sneak peek at CES

Here it is, folks – your first real glimpse at the 2016 Chevrolet Volt. The gasoline-electric sedan will officially debut at the Detroit Auto Show next week, but Chevy gave us a sneak peek of its redesigned Volt at a media event in Las Vegas late Sunday, as part of its CES festivities. There isn't a ton to see here, and sorry about the low quality video (and for us not standing front and center during the reveal). But we can clearly see the car's redesigned front fascia – something recently previewed at a fan event in Los Angeles. For another view, check out a high-res photo of the new Volt from our friends at The Verge, here. Chevy even tweeted a photo of the Volt's new nose on its official Volt Twitter account, which you can see below. The automaker didn't divulge any details about its new Volt, but we already know quite a bit. For starters, the Volt will use a new, 1.5-liter gasoline engine and won't require premium fuel. It'll have more EV range and a bigger battery, too. We'll have a whole mess of information when the 2016 Volt is fully revealed in Detroit in about one week's time. In the meantime, here are some more looks at the Volt, courtesy of the Twitterverse. We're so excited about #NextGenVolt we brought it out early at #CES2015! Full details on 1/12 at #NAIAS. pic.twitter.com/hPCbTFGSV4 - Chevrolet Volt (@ChevyVolt) January 5, 2015 Take a look at the new Chevy Volt http://t.co/laCvWLRMXk pic.twitter.com/uOzRh5XCrP - Engadget (@engadget) January 5, 2015 The very first look at the 2016 Chevy Volt doesn't disappoint: http://t.co/PM0HcnyQOo pic.twitter.com/WFtoyd0utH - Gizmodo (@Gizmodo) January 5, 2015 Chevy just gave @Tim_Stevens a very quick look at the next-gen Volt at #CES2015. #CNETatCES http://t.co/3n6EK1yOrC pic.twitter.com/7KDYh0VSg0 - CNET (@CNET) January 5, 2015 Related Gallery 2016 Chevy Volt at CES Related Gallery 2016 Chevrolet Volt Teaser Images Green CES Detroit Auto Show Chevrolet GM Alternative Fuels Green Automakers Electric Hybrid Videos Sedan 2015 Detroit Auto Show CES 2015