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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

2016 Chevy Volt will not need premium gas

Buried in the new technical details of the 2016 Chevy Volt released yesterday was a throwaway line about a small but important change that's due to the new 1.5-liter, four-cylinder engine. The first-gen Volt has always required premium gas but the new powerplant will be happy burning plain old regular. The Volt's chief engineer, Andrew Farah, told AutoblogGreen that the change was due to today's Volt owners explaining they were not happy paying for top-shelf petroleum. "The ability to use regular unleaded was based directly on customer feedback," he said. "Since the range extender is an all-new engine, it was optimized to use regular unleaded at the outset. Using regular fuel will not have effect on vehicle acceleration or other performance factors." As Larry Nitz, GM's executive director of vehicle electrification, told AutoblogGreen yesterday, the new engine is more powerful and quieter than the outgoing 1.4-liter engine that's used in the current Volt. Fuel economy and EV range specs for the next-gen Volt are not expected until the full car is revealed at the Detroit Auto Show in January.

2015 Chevy Silverado Custom Sport is subtle in black

In a world where trucks are growing bigger, bolder grilles and more muscle-bound looks, Chevrolet is trying something a bit different with its recently revealed Custom Sport edition for the 2015 Silverado at the this year's Detroit Auto Show. The edition leans on being understated, instead of screaming about its abilities. The design is supposed to be a throwback to the Chevy Custom Sport Trucks of the late '60s that brought a touch of elegance to these usually utilitarian vehicles at the time. The heart of the package is its monochromatic body-color touches for the bumpers and grille surround. The one on display at the show is especially attractive with a chrome-accented black grille that fits perfectly with the rest of the body. The edition does get a bit more shine with chrome covering the 20-inch wheels, door handles, mirror caps and side moldings. In addition, buyers get projector beam headlights, tow hooks and heated power mirrors. The custom package is available on the LT trim in black or white and on the LTZ in black or White Diamond Tricoat. Take a look at this monochromatic take on the Silverado as it sits in the Motor City. 2015 SILVERADO OFFERS CUSTOM SPORT PACKAGE Inspired by Chevy Custom Sport Trucks that helped launch personal-use pickups DETROIT, 07/01/15 – With the new 2015 Silverado Custom Sport special edition, Chevrolet pays homage to one of its most iconic pickups, adding a sophisticated monochromatic look to double- and crew-cab Silverados. The Custom Sport package features body-colored front and rear bumpers and a body-colored grille surround with a chrome-accented black grille. Other accents include 20-inch chrome wheels, chrome door handles and mirror caps, and chrome body-side moldings. The package also includes projector beam headlamps, tow hooks and heated power-adjusted mirrors. "The Custom Sport special edition was inspired by Chevy Custom Sport Trucks of the late 1960s," said Sandor Piszar, Chevrolet Trucks marketing director. "Those CST models added a touch of elegance to a great all-around truck, just like the Custom Sport package for the new Silverado." The redesigned 1967 Chevrolet pickup entered the market at a time when trucks were starting to move off the jobsites and into the driveways of cities and suburbs. The 1967 Custom Sport Truck, with its bright trim, plush carpet and bucket seats, helped launch a wave of personal use pickups that continues today.