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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

GMC Envoy could be returning as GM files for 'Envoy' trademark

The GMC Envoy could be on its way back, if a recent GM trademark filing is any indication of the future. To be exact, GM's trademark filing is for the name "Envoy," and is applicable to "motor vehicles, namely, sport utility vehicles, engines therefor and structural parts thereof." A victim of the recession and high gas prices, the original Envoy – related to the Blazer, and more recently the TrailBlazer and similar GM SUVs – was discontinued after the 2009 model year. In today's SUV-happy market of low gas prices, unearthing the somewhat familiar Envoy name makes a certain amount of sense. As soon as gas prices start trending in the other direction, we'll all be saying the opposite, though. What this SUV will take shape as is the big question now. With the Chevrolet Blazer well and truly on its way, there's every reason for a GMC version of Chevy's stylish new crossover sporting the Envoy name. Another, less likely, possibility is a Traverse-sized vehicle to slot between the shorter Acadia (10 inches shorter than the Chevy Traverse) and the body-on-frame Yukon. GM could come out of left field and make the Envoy a Buick too. It fits the bill with the "En" beginning, and Buick undoubtedly has crossovers in the works. We think that's even more unlikely, but it's important to remember that we're still in the speculation phase. Soon we'll drive Chevy's new Blazer, and perhaps have more news then. Check in next week for that. Related video:

Just the right Camaro can change your life

Not many people can say that their car directly motivated them into a career, but that's exactly the case for Adam Martin and his 1968 Chevrolet Camaro that he calls Lucy. Martin bought the pony car in primer when he was just 16, and it helped foster his profession in restoring classic cars. Beyond just being a very cool ride for a teenager, every change to Lucy was an opportunity to hone a new automotive skill for Martin. Whether figuring out how to paint a car or building the 454-cubic-inch (7.4-liter) big block V8, the Camaro offered a platform for experimentation. This latest episode of Petrolicious gets personal about the bond between man and machine for this 18-year ongoing project. And even if the story doesn't immediately grab you, Lucy has a great voice and can do a mean burnout. News Source: Petrolicious via YouTube Chevrolet Maintenance Ownership Coupe Performance Classics Videos petrolicious