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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

Chevrolet Malibu gets aggressive redesign for 2016

Cars like the Ford Fusion, Kia Optima and Chrysler 200 have recently raised the styling bar in the midsize sedan game is. In that regard, the rather anonymous Chevrolet Malibu has suffered in recent years. That no longer appears to be an issue with the 2016 Malibu, which is simply caked with interesting elements. The wide, aggressive grille, expressive headlights and angled LED running lamps make the Malibu look like the Impala's much angrier little brother. In back, the Impala inspiration is there, but like the fascia, it's noticeably more aggressive, with a sharper cant to the taillights and a pair of large, integrated dual exhausts (at least on the 2.0-liter, turbocharged model being featured by Chevy). Designers also worked to give the 'Bu a bit more character in the profile, adding a pair of character lines to cut back on the last-gen car's slab-sided looks. While the exterior could almost be described as sporting, the brown-and-beige color scheme in the cabin is noticeably more relaxed. A large, central MyLink system sits atop the dash, while drivers will also have access to a dedicated display in the instrument cluster. A thick-rimmed, three-spoke steering wheel is a bit on the large side, but still looks like a nice piece to work. You can read a lot more about the new 2016 Malibu in our original post from early this morning. But before you do that, have a look at our full gallery of live images from the floor of the Javits Center. All-New Malibu is Larger, More Technological and Efficient New hybrid sedan projected to offer combined rating north of 45 MPG DETROIT – Chevrolet today introduced the all-new 2016 Malibu – a completely restyled midsize sedan engineered to offer more efficiency, connectivity and advanced safety features than ever. An all-new hybrid powertrain, which leverages technology from the Chevrolet Volt, will help offer a GM-estimated combined rating north of 45 mpg. The Malibu's standard 1.5L turbo powertrain is projected to offer 37 mpg highway. The 2016 Malibu is also longer and lighter, with more interior space and improved fuel efficiency. Its wheelbase has been stretched close to four inches (101 mm), and it is nearly 300 pounds (136 kg) lighter than the current model. "Midsize customers tell us they want great fuel economy, connected technologies, wrapped in a gorgeous exterior. This is exactly what the 2016 Malibu was engineered to do," said Jesse Ortega, Malibu chief engineer.

Is this '47 Chevrolet a rat rod or a sports car?

These days there are plenty of vehicles that blur the conventional automotive class structures. For instance, was the Honda Crosstour a wagon or an SUV? And what exactly was the Nissan Murano CrossCabriolet? Regardless, those line-blurring cars (or trucks) are out there, and though this one didn't roll off a production line, it's still quite the automotive head-scratcher. Hailing from Missouri, this epic creation is one part mad science experiment, one part 1947 Chevrolet pickup, and one part '95 Mercury Cougar. Add it all up and you get an awesome truck-sports-car hybrid, complete with an outrageous wing and a V8 to boot. And interestingly enough, it's up for sale . RELATED: Check out this Wild-Styled Lamborghini Rat Rod So how does it all come together? According to the listing, the Chevrolet truck cab (which had previously been chopped) was sanded down to bare metal and given a thorough shellacking of clear coat. It was then melded together with the front end of a 1995 Chevrolet S10 pickup truck, and set low to the ground on Bilstein suspension drop spindles. Stance achieved. But instead of fielding an engine from either of those pickups, it pulls its heart from a 2005 Chevrolet Tahoe SUV—a big 5.3-liter V8 heart, that is. It comes backed-up to a GM Turbo 400 automatic transmission. Towards the rear however is where things get really interesting. A Copper Pearl coated tube frame chassis both attaches the rear independent suspension (a la Mercury Cougar) to the racy spoiler, as well as secures the rat rod's rear-mounted radiator, fan, and fuel tank. I'm not quite sure why, but it just looks glorious. RELATED: Reports Say Mid-Engine Corvette Will Arrive in 2018 Inside the vintage cab, the Chevrolet furthers its racing proclivities (it's said to have won burnout and auto-cross events) with a pair of harnessed racing seats, a drift brake, a detachable steering wheel, and a tachometer with oil and temperature gauges, but oddly no speedometer. The shifter is a crescent wrench. And its shift boot? That's a Crown Royal Purple bag. All in all, this grin-worthy Frankenstein creation tallies up bits and pieces from four different vehicles (five if you include the Camaro wheels), which make it truly a mash-up of epic proportions. Internet, what do you think? Related Video: This article by Zach Doell originally appeared on Boldride. Design/Style Chevrolet Mercury Auctions Coupe Special and Limited Editions Classics eBay rat rod