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GM sees 'strong year' in 2018, then gold in Chevy Silverado for 2019

DETROIT — General Motors said on Tuesday it expects earnings in 2018 to be largely flat compared with 2017, but that profits should pick up pace in 2019 as its revamped line of high-margin pickup trucks hits the U.S. market. The 2018 earnings outlook was above market expectations, sending GM shares up more than 3 percent in premarket trading. "GM had a very good 2017 as we continued to transform our company to be more focused, resilient and profitable," GM Chief Executive Mary Barra said in a statement. "We are positioned for another strong year in 2018 and an even better one in 2019." GM and its Detroit rivals, Ford and Fiat Chrysler Automobiles, are bringing on new trucks at a time when overall U.S. new vehicle sales have been falling, but truck sales continue to grow as consumers abandon passenger cars in favor of pickups, SUVs and crossovers. GM on Saturday fired a new round in the battle for profits from one of the U.S. auto industry's most lucrative segments when it showed a new generation of its Chevrolet Silverado pickup truck at the Detroit auto show. The new Silverado, a highlight of the event, is the successor to GM's best-selling vehicle in North America. Sales of the current Silverado rose nearly 2 percent to 585,000 vehicles in 2017. In the coming months, the company will also reveal a revamped GMC Sierra pickup truck. U.S. new vehicle sales fell 2 percent in 2017 after hitting a record high in 2016, and are expected to drop further in 2018 as interest rates rise and more late-model used cars return to dealer lots to compete with new ones. GM said on Tuesday that while it retools a factory in Ft. Wayne, Indiana, to make the new pickup trucks, it will shift some production to an Oshawa, Ontario, plant in order to avoid missing sales in a hot market for the vehicles. The No. 1 U.S. automaker said it will record a $7 billion non-cash charge for its fourth-quarter 2017 earnings related to deferred tax assets. GM said it expects capital expenditure in 2018 of around $8.5 billion, about $1 billion of which will go toward funding self-driving car technology. Last week, the company said it is seeking U.S. government approval for a fully autonomous car — one without a steering wheel, brake pedal or accelerator pedal — to enter the automaker's first commercial ride-sharing fleet in 2019. GM said it expects 2017 earnings per share at the high end of its previously forecast range of $6 to $6.50.

Race Recap: Rolex 24 at Daytona was fast and feisty

Let the record show that victory at the 2015 Rolex 24 at Daytona went to the No. 02 Chip Ganassi Racing with Felix Sabates Target/Ford EcoBoost Riley DP driven by Verizon IndyCar drivers Scott Dixon and Tony Kanaan and NASCAR drivers Jamie McMurray and Kyle Larson. The winner did 740 laps to cover 2,634.3 miles in 24 hours and 57.667 seconds. That's a statement to this year's pace in spite of 18 cautions, two more than last year: the Michael Shank Racing Ligier got pole with a time of 1:39.194, slower than last year's pole time of 1:38.270; however, the winning car last year only did 695 laps. The fight for top honors was shaved to a four-car battle over the first third of the event. The No. 02 Ganassi car took the lead on the first lap, swapping it well into the night with the No. 01 Ganassi car, the No. 10 Wayne Taylor Racing Corvette DP, and the defending champion No. 5 Action Express Corvette DP, all of them staying within about 20 seconds of one another. The Action Express car had a fuel connector come loose and lost three laps getting towed back to the pits to have it reattached, but was back in the lead 18 hours in. The No. 01 Ganassi car dropped out with recurring clutch problems 22 hours in, retiring not long after. A race-within-the-race is where the concluding action happened, a seven minute, 30-second dash from the end of the last caution to the checkered flag. During the penultimate pit stops with an hour to go, Dixon was in second place followed Jordan Taylor in the Wayne Taylor Racing DP into the pits but beat him out, taking the lead. The Action Express car was in third. In the last pit stops of the race, Dixon gained even more time, getting a four-second advantage over Taylor. Then a full-course caution came out twenty minutes before the finish when a Prototype Challenge car hit the wall and caught fire, bunching up the field. That closed the pits, but the Wayne Taylor Racing car had to pit during that yellow because of a miscalculation of driver time. No driver can be behind the wheel for more than four hours in a six-hour period but Jordan Taylor was going to go over, so he came in to swap out for brother Ricky. That cost the team any chance of second place, since they took an additional drive-through penalty for entering closed pits. When the track went green again, Sebastien Bourdais in the Action Express car stayed all over Dixon for the final five laps but couldn't get around him.

Chevy Bolt-based prototype may be a Buick EV for China

Late last spring, we got a look at a GM prototype that was clearly based on the Chevy Bolt EV, but with updated styling. It seemed like it could be a more crossover-styled Bolt, given the recently trademarked name of EUV. Now we get another look at the prototype, but the bodywork seems less suggestive of a Chevy, and more of a Buick. This vehicle definitely still appears to be based on the Bolt, rather than on another small GM platform. In the photos of it next to the current model, the size, wheelbase and profile are extremely similar. There are differences, though. The nose isn't as sloped or as rounded, and the rear window kicks up a little earlier. The biggest changes are in the front and rear fascias, and it's here that we see hints of Buick. There are prominent air inlets on each side of the front bumper that give the car a more aggressive look. The headlights still have a fairly rounded, organic look, but with little extensions like fangs underneath. The styled running-light section, rounded shape and the smoked lenses seem very Buick-like. The grille features a large badge that doesn't fit the shape of a bow-tie, and is more that of a round logo like Buick's. Around at the back, the full-width taillights stand out, and in the middle there is obviously a round badge, again like a Buick. The wide taillights would also be a natural evolution of Buick's current light design language that uses somewhat wide and thin lights. The rear bumper has been redesigned with new lower taillights. Now that we've established that this seems very much like a Buick, we don't think we'll see this particular version offered here with the badge. This is more likely a Buick version of the Bolt for the Chinese market, where the brand is associated with luxury and has been the spearhead for GM's electric and hybrid models. In fact, the Chevy Volt hybrid was sold there as the Buick Velite 5, which was part of a family of a electrified Velite models. This would probably also carry a Velite badge as well. While we might not see this specific Buick variant, we probably will see it offered as a Chevy in some form. With its more aggressive, crossover shape, it could be the rumored EUV model. Or it could be just a refresh of the current Bolt, since the model has been largely unchanged since its introduction for the 2017 model year. And extrapolating from this prototype, we can see how the headlights could be tweaked to tie into those air scoops as on the Suburban and Silverado.