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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

GM looks to combat high theft rates on SUVs with added tech

The Cadillac Escalade has been at or near the top of most-stolen and insurance-loss lists for more than seven years, until it dropped to number six earlier this year. In 2011 it was fitted with a host of new security features to address its easy-to-override features and that has brought the number of thefts down, but when eight of the ten most stolen rides are large SUVs from General Motors, no one will argue that something else needs to be done.
Thus, GM has fitted this same theft-deterring tech to the 2015 Suburban, Tahoe and Yukon. The Suburban and Tahoe will get the steering lock that the Escalade and Yukon already get, plus bolted-down third-row seats to deter thefts like this, stronger door lock cylinders and shields, and side-cut keys to inhibit picking.
Additional security measures in a Theft Protection Package can be purchased for $395, consisting of sensors on the greenhouse glass and interior, an incline/tilt sensor and added "key control systems" to make it more difficult for the men in black balaclavas to steal what you bought.

2020 GMC Acadia AT4 Review | A soft-roader in steel-toed boots

For carmakers today, the perfect lineup would be focused almost entirely on trucks and crossovers, favoring profitability at the expense of diversity. Just look at FCA’s Ram and Jeep showrooms. In the General Motors portfolio, that brand is GMC, with not a car to be found in its lineup and several body-on-frame offerings meant to take a serious beating. It should be a license to print money. But a lineup of trucks and SUVs isnÂ’t enough. Some folks want the rough-and-tumble edge of an off-road vehicle, albeit one that can still credibly serve duty in the school pickup line. Enter the AT4 trim level, an off-road package that spans the gap between the GMC's upscale professional image and the off-road oriented buyer. The 2020 GMC Acadia AT4 is the latest member of the family AT4 slots in between the mid-grade SLT and the range-topping Denali, but simply saying itÂ’s the second-most expensive Acadia variant isnÂ’t really doing it justice. If the SLT trim is understated, and the Denali trim opulent, the AT4 trim promises ruggedness and adventure – even if it canÂ’t deliver it.  The Acadia is definitely a soft-roader and AT4 doesnÂ’t do much to change that – itÂ’s effectively an appearance package. It adds a unique grille, 17-inch wheels and AT4 badges — all blacked out — plus a set of Continental TerrainContact A/T tires engineered to offer a comfortable ride while still enabling some off-pavement excursions. There are several unique interior treatments as well, including “AT4” embroidery on the seats, regardless of whether you go with the base upholstery or the upgraded perforated leather ($1,000) that was added to our test vehicle. Note that we didnÂ’t mention anything beyond the small wheels and meaty tires that would actually make the AT4 any better off pavement. ThereÂ’s no extra ground clearance (it remains a meager 7.2 inches), low range 4x4 system or suspension enhancement to be found here. This would be a departure from other GMC AT4 models, including the Sierra 1500 and upcoming 2021 Yukon, which get extra ground clearance, underbody protection and a rugged suspension, but it won't be an outlier. The similarly soft-roading Terrain AT4 has already been announced.  Yet, off-road models tend to get hammered with on-road handling and ride quality criticism and here's where the Acadia AT4 being more of an appearance package pays off.