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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.

2019 Toyota Avalon vs. full-size sedans: How they compare on paper

Full-size sedans aren't exactly in great demand at the moment, and at least one of the vehicles in this comparison has been rumored to be on the endangered species list. Yet, we've just had our first drive in the 2019 Toyota Avalon, and if anything has a chance of rejuvenating the segment a bit, it's an all-new version of what has long been the segment's benchmark. To see how the new Avalon compares, we've put together the below spreadsheet featuring the Avalon's primary apples-to-apples rivals, the Buick LaCrosse and Chevy Impala. We also included the Nissan Maxima, which is comparable in price, sales and non-luxury badge, and which offers the sort of increased driver engagement promised by the new Avalon XSE and Touring trim levels. We also included the outgoing Avalon for reference as well as that car's luxury cousin, the Lexus ES, which can definitely be cross-shopped with the luxuriously trimmed Avalon Limited. You can use our Compare Cars tool to create your own comparison, such as one featuring the rear-wheel-drive Chrysler 300, Dodge Charger or even Kia Stinger. Alright, enough chit chat. On to the spreadsheet. Performance and fuel economy The GM sedans may come standard with four cylinders, including a mild hybrid system in the LaCrosse, but puh-lease. The V6 is the name of the game in this segment, with outputs now surpassing the 300-horsepower mark. The LaCrosse is the horsepower and torque champ, though it also weighs a bit more than the new 2019 Avalon, so acceleration is likely to be comparable. The Impala weighs a lot more and has only a six-speed automatic, so despite having a wee bit more power, one should expect it to be pokier (not a good sign for a car rumored to be on the chopping block). One would expect the Maxima's 300 hp and lowest curb weight to result in the quickest acceleration, but then it's also strapped to a CVT, which despite being better than ever, is still a CVT. Things get worse for Chevy when you consider the Impala's base four-cylinder gets the same 25 mpg combined as the Avalon's V6 — once again a segment best. Now, should you really prioritize fuel economy, the 2019 Toyota Avalon Hybrid really stands out with a 43 mpg rating (or 44 with the base XLE trim) that bests the outgoing Avalon Hybrid. Honestly, after driving this new Hybrid, it actually seems like it would be the best bet for most buyers. There's sufficient power, and it only costs $1,000 more than the comparable V6 version.

Driving the Toyota Supra, Honda Passport and BMW 3 Series | Autoblog Podcast #582

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Green Editor John Beltz Snyder and West Coast Editor James Riswick. First, they talk about the cars they've been driving, including the Honda Passport, BMW 330i and Audi RS5. They follow up with notes about driving the Toyota Supra and 86, and whether Toyota's new sports car strategy makes sense. Then they discuss the news, including the Ferrari SF90 Stradale plug-in hybrid, a possible Renault-FCA merger, death rumors for the Jaguar XJ and thoughts on the upcoming Chevy Trailblazer. Autoblog Podcast #582 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving: 2019 Honda Passport 2019 BMW 330i 2019 Audi RS5 Sportback Toyota Supra, 86 and the company's sports car strategy In the news: Ferrari SF90 Stradale FCA and Renault Jaguar XJ going away? Chevy Trailblazer Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: