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General Motors posts record earnings, but global sales fall

General Motors started the year with record success. The automaker's $2.7 billion in adjusted earnings before interest and taxes was its highest ever in in the first quarter of 2016, up from $2.1 billion in from the same time period a year earlier. Net income grew to $1.95 billion, which was more than double the $953 million in the same period last year. The company's figures also beat analysts' predictions, according to the Detroit Free Press. Despite the financial growth, global sales actually decreased by 2.5 percent to 2.36 million vehicles. "We're growing where it counts, gaining retail share in the US, outpacing the industry in Europe and capitalizing on robust growth in SUV and luxury segments in China," CEO Mary Barra said in the company's financial announcement. GM did well in North America with an adjusted EBIT of $2.3 billion, up from $2.2 billion last year. Sales in the region also grew 1.2 percent to 800,000 vehicles. According to The Detroit Free Press, the company has been especially successful at selling more expensive models in the US. The company's average vehicle was $34,600 in Q1, about $3,000 more than the industry average. Elsewhere in the world, GM also showed improvement. Europe practically broke even after losing about $200 million last year, and Opel and Vauxhall sales grew 8.4 percent to more than 300,000 vehicles for the quarter. South America only lost $100 million, which was half as much as Q1 2015's $200 million loss. China remained flat at $500 million of income. Cadillac volume jumped 6.1 percent there, and Buick's deliveries increased 22 percent, thanks to the Envision crossover's success. GM Reports First-Quarter Net Income of $2.0 Billion 2016-04-21 EPS diluted of $1.24; First-quarter record EPS diluted-adjusted of $1.26 First-quarter record EBIT-adjusted of $2.7 billion GM Europe posts break-even performance DETROIT – General Motors Co. (NYSE: GM) today announced first-quarter net income to common stockholders of $2.0 billion or $1.24 per diluted share, compared to $0.9 billion or $0.56 per diluted share a year ago. Earnings per share diluted-adjusted for special items was a first-quarter record at $1.26, up 47 percent compared to the first quarter of 2015. The company set first-quarter records for earnings and margin, with earnings before interest and tax (EBIT) adjusted of $2.7 billion and EBIT-adjusted margin of 7.1 percent.

GM warning 800,000 owners that their cars may need oil changes more frequently than they say

The days of changing your engine oil every 3,000 miles are long gone thanks to most cars having automatic oil monitoring systems, but about 800,000 General Motors vehicles apparently have incorrect monitoring software that is leading to premature engine component wear. According to Autoweek, certain 2010-2012 Buick LaCrosse, Regal, Chevrolet Equinox and GMC Terrain models equipped with 2.4-liter four-cylinder engines could be going too long in between oil changes resulting in a higher-than-normal number of warranty claims for the engine's balance chain. The balance chain links the balance shaft to the crankshaft, and a worn one can produce higher noise levels.
As a fix, GM dealers will be reprogramming the software for the monitors in an effort to reduce the interval between oil changes, which varies based on driving habits and conditions. Through February 2015, the software update will be done at no cost to vehicle owners, but since this is not a recall, after that point, it will be up to the discretion of dealers as to whether or not they will charge for the service. What isn't immediately clear is whether GM plans on giving assistance to out-of-warranty customers who are experiencing engine issues from the worn chain.

Buick prepares Super Bowl ad blitz to introduce Cascada

Super Bowl 50 will kick off on February 7, and Buick will use the big game's massive audience to get the word out about the new Cascada convertible. The the broadcast spot will be paired with a humorous digital campaign to advertise the convertible online. Buick hasn't released the 30-second Super Bowl commercial yet, but a teaser image shows that it stars New York Giants wide receiver Odell Beckham, Jr. and actress Emily Ratajkowski, known for roles in the films Gone Girl and Entourage. The ad is part of the "Experience the New Buick" campaign, which aims to position the brand to appeal to a younger demographic. The brand also has Ellie Kemper, the star of Netflix's hilarious Unbreakable Kimmy Schmidt and Erin on The Office, to sell the Cascada, Regal, Encore, and Enclave in a new online campaign. She plays an exaggerated version of herself and flirts with a guy who thinks Kemper owns Buick's new convertible. The spot tries to capitalize on the quirky charm of the actor's Kimmy Schmidt character. Buick will cut the longer clip (below) into vignettes for ads on sites like YouTube. Buick spokesperson Crystal Wilson told Autoblog that viewers' reactions to Kemper's commercial have been "totally positive" so far. First-Ever Buick Super Bowl Ad Features Odell Beckham Jr. and Emily Ratajkowski Latest "Experience the New Buick" ad spotlights new Cascada convertible 2016-01-26 DETROIT – Buick's first-ever Super Bowl ad will bring the brand's award-winning "Experience the New Buick" campaign to the biggest night in TV advertising. The campaign launched in 2014 and challenges consumers' false perceptions of the brand. The 30-second spot, scheduled to air during Super Bowl 50, features Buick's all-new Cascada luxury convertible and stars New York Giants wide receiver Odell Beckham Jr. and actress/model Emily Ratajkowski. The spot will be the first new Buick commercial to air in 2016, a year where the brand will launch three new products. The Cascada, Buick's first convertible in 25 years, arrives in dealerships in the coming weeks. It features an athletic and sculptural beauty that delivers a distinctive profile, whether the top is up or down. Along with the perception-shifting Cascada, Buick showrooms will soon feature a redesigned LaCrosse sedan and the new Envision, a compact crossover. Both go on sale this summer.