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Opel Insignia, the harbinger of a Buick, rolls out at Geneva

GM's sale of Opel/Vauxhall to French automaker PSA Groupe will take effect later this year, but new models roll out regardless, as Opel debuted its all-new 2018 Insignia flagship (and Buick Regal clone) Tuesday at the Geneva Motor Show. The midsize Insignia, which bears a great resemblance to a Mazda6, will come in Grand Sport and Sports Tourer (that is, a wagon - will Buick offer a wagon?). It is built in Russelsheim, Germany. As part of the GM-PSA deal, the two companies agree that PSA, maker of Peugeot and Citroen, will continue to supply some Holden and Buick models; Opel models form the basis for several of Buick's core products, including the Encore small crossover and Regal sedan. But as the two brands part ways, we may well see Buicks remaining Buick-y, and Opels evolving away from GM parts and designs. Seeking a little clarity on what the sale of Opel means, we asked Buick and were directed to a statement: General Motors announced an historic agreement to sell the company's Opel business to PSA Group. This is a major milestone and one that we believe will improve the business prospects of each company and deliver significant value to shareholders, customers and employees around the world. Buick and Opel have historically cooperated on a number of product programs. Buick products will not be impacted by today's announcement. We will continue to deliver our product plans with excellence and precision. Buick has delivered three consecutive years of record global sales, we are General Motors' second largest international brand, and we have built an excellent reputation for quality and customer service. The new products Buick will announce in 2017 will help us build on this momentum. The new Regal/Insignia is expected to use the same platform as the new Buick LaCrosse, which is also shared by the Chevy Malibu and Impala. They should once again be available with front- or all-wheel drive. With the Opel versions debuting at Geneva, the Buick Regal will possibly follow at the New York auto show in April. The Insignia will start at about $25,500 and has the now-customary roster of high-tech options such as active lane keeping, a heads-up display, 360-degree-vew cameras, a hood designed to increase pedestrian safety and a new Opel OnStar Personal Assistant to help book hotel rooms on the fly or search for parking spots. The car comes with turbocharged four-cylinder engine options, an eight-speed automatic, and it's 400 pounds lighter than its predecessor.

Trump prods General Motors over its auto plants in China

WASHINGTON — U.S. President Donald Trump, who is engaged in a trade war with Beijing, said on Friday that the largest U.S. automaker, General Motors, should begin moving its operations back to the United States. "General Motors, which was once the Giant of Detroit, is now one of the smallest auto manufacturers there. They moved major plants to China, BEFORE I CAME INTO OFFICE. This was done despite the saving help given them by the USA. Now they should start moving back to America again?" Trump said in a post on Twitter. Trump appeared to be referring to a Bloomberg News story that reported GM's hourly workforce of 46,000 U.S. workers has fallen behind that of Fiat Chrysler as the smallest of the Detroit Three automakers. Over the past four decades, GM has dramatically cut the size of its overall U.S. workforce, which numbered nearly 620,000 in 1979. GM did not directly comment on Trump's tweet. "GMÂ’s China operations are not a threat to U.S. jobs," the company said in a fact sheet, noting that its joint ventures have sent $16 billion in equity income to GM since 2010 and that it has invested $23 billion in U.S. operations since 2009. GM's U.S. hourly workforce has fallen by about 4,000 jobs since the end of 2018 to about where it was a decade ago. Trump's ire with GM comes as contract talks with the United Auto Workers union with the Detroit Three automakers intensify ahead of a Sept. 14 deadline. Trump has previously attacked GM for building vehicles in Mexico and for ending production at plants in Michigan, Ohio and Maryland and threatened to cut GM subsidies in retaliation. GM's decision to close four plants in the United States is a central issue in the contract talks. Trump has made boosting auto jobs a key priority and has often attacked automakers on Twitter for not doing enough to boost U.S. employment. His 2020 re-election bid will hinge on holding key industrial battleground states like Wisconsin, Pennsylvania and Michigan that narrowly voted for him in 2016. China is the worldÂ’s largest auto market, and government policy favors automakers assembling vehicles there, and not importing them from overseas. In response to TrumpÂ’s latest tariffs, China said last week it will reinstitute 25% tariffs on U.S.-made vehicles. The U.S. is imposing 15% tariffs on more than $125 billion in Chinese goods starting Sunday. GM sold 3.6 million vehicles in China last year accounting for 43% of its worldwide sales.

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