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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

2020 GMC Sierra 2500 HD and 3500 HD spied on public roads

We saw spy shots of the Chevrolet Silverado HD a short time ago, and now it looks like GM has got the 2020 GMC Sierra Heavy Duty trucks running around in public too. The one we're looking at here appears to be a 2500 Denali Crew Cab, distinguished easily by the same Denali grille on the 2019 Sierra 1500. Aesthetic differences between the front fascias on the 1500 and 2500 HD are small, but the 2500 is a bit more muscular in the hood and lower trim treatment. GMC doesn't look like it's hiding a whole lot with this camouflage, since the sheets over the grille and headlights are mostly transparent. The black tarp over what appears to be a hood scoop leads us to believe it will have the same type of hood design as the 2018 HD. Other interesting bits revealed here are around the rear of the pickup. We can see the same interface for the MultiPro six-way tailgate on this truck as the 1500, so at least the Denalis will have the trick tailgate (we'd expect every trim to have it, though). Just like we saw on the Silverado, the Sierra HD gets the stepside feature just ahead of the rear wheels. LED taillights are clearly visible through the thin veiling, and GM's rear steps remain as well. in addition to this 2500 HD, our spy photographers also caught a 3500 HD model. This one isn't a Denali, as the grille shows its hand again. The grille is different than any of GM's designs on the new trucks we've seen thus far, actually. GMC showed us a teaser of what a new Silverado HD grille would look like months ago, but this differs even further than that. It looks rather minimalistic under the sheet for now, with strong horizontal slats. The actual shape and design of the truck is revealed for the most part, since it's just wearing a thin body wrap. Its mirror design appears to be different from last year's, as the arm is completely solid. A sidestep right in front of the rear wheels carries over from the 2500 HD too. We imagine both this truck and the Silverado HD will debut early next year during auto show season. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

2023 J.D. Power APEAL Study shows new-car customer satisfaction scores slip

J.D. Power survey results have been slightly up but mostly down for automakers this year, literally. In February, the 2023 Vehicle Dependability Study showed an overall decline compared the 2022 a month before the Customer Service Index Study did the same. The trend reversed in June with a better overall score on the 2023 U.S. Electric Vehicle Consideration Study than in 2022, then declined again the same month on with a lower overall score on the 2023 Initial Quality Study. The declines continue with the 2023 J.D. Power U.S. Automotive Performance, Execution and Layout (APEAL) Study, overall satisfaction among the 84,555 respondents down two points overall compared to 2022, to 845 out of 1,000 points. Because last year's score dropped compared to 2021, this year marks the first consecutive decline in the study's 28-year history. The study tries to "[measure] owners' emotional attachment and level of excitement with new vehicle" after 90 days of ownership by asking new owners to rate 37 attributes in 10 areas around the vehicle, such as the feeling they get when they hit the accelerator. Satisfaction with nine of the attributes is down this year versus last, fuel economy the only segment to show better results with 15 points more satisfaction. Styling and infotainment are big drags on satisfaction. Responses to new car exterior looks tallied 888 points, down from 894 last year, the largest drop in this year's study. On the digital side, less than half of those surveyed this year said they prefer using a manufacturer's built-in infotainment. From 70% of respondents in 2020 preferring to use a manufacturer's in-house software to play audio instead of Android Auto or Apple CarPlay, that's 56% in 2023. Going all-in on Google appears to have the best effect. J.D. Power said that vehicles with both Google's Android Automotive Operating System (AAOS) and Google Automotive Services (GAS) "score higher in the infotainment category than those with no AAOS whatsoever. AAOS without GAS receives the lowest scores for infotainment of the three categories."  Frank Hanley, senior director of auto benchmarking at J.D. Power, said, "Despite the technology and design innovations that manufacturers put into new vehicles, owners are lukewarm about them. While innovations like charging pads, vehicle apps and advanced audio features should enhance an owner’s experience, this is not the case when problems are experienced.