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GM will recall more than 3.3 million vehicles in China for suspension defect

BEIJING (Reuters) - General Motors' joint venture in China, Shanghai GM, will recall more than 3.3 million Buick, Chevrolet and Cadillac vehicles stating Oct. 20 because of a defect with the suspension system, China's market regulator said on Saturday. GM Shanghai said in a text message to Reuters that the suspension arm may be deformed under extreme operating conditions, but there are no known casualties related to the issue. The recall includes cars produced between 2013 and 2018, the State Administration for Market Regulation said in a statement. GM will contact those affected and repair the vehicles free of charge, it said. (Reporting by Josephine Mason and Hallie Gu; additional reporting by Yilei Sun; Editing by Shri Navaratnam and Michael Perry)Related Video: Image Credit: Qilai Shen/Bloomberg via Getty Recalls Buick Cadillac Chevrolet Safety

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.

GM alerting truck and sedan owners to a do-over on brake recall

A recall campaign intended to address issues with braking systems on certain 2019 General Motors trucks and sedans may have introduced a new issue, the automaker has acknowledged, and thousands of owners driving repaired vehicles may need to return to their service departments for another update.  The update addresses a fix that was pushed out to owners of more than half a million brand-new GM trucks and sedans that could potentially lose partial braking function, according to the Detroit Free Press. The original software fix helped address situations where the vehicles' anti-lock braking systems would become disabled, which in turn would prevent electronic stability control from activating. Vehicles subject to the recall would often experience software glitches that prevented them from properly communicating the operational state of these systems, meaning drivers would have no idea that their brakes may not behave as expected in an emergency. The 2019 Chevrolet Silverado 1500, Cadillac CT6, and GMC Sierra 1500 were all recalled in the original campaign.  Unfortunately, the early version of this fix appears to have introduced yet another software glitch, indicating that the original fix did not do the trick. Those who have not yet had their cars serviced can rest easy; they will only receive the most up-to-date version of the software fix.  Related video