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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.

Buick confirms 2017 Encore for New York Auto Show

Buick will unveil the refreshed 2017 Encore at the New York Auto Show in March, company spokesperson Stuart Fowle tells Autoblog. The brand isn't ready to divulge info about the updated compact crossover, but a recent revision to the Encore's European platform-mate, the Opel Mokka (above), might provide hints about what to expect. "While we have no additional details to announce, we're excited to confirm that media and customers will see the new 2017 Encore at next month's New York Auto Show. The Encore joins the Cascada convertible, Envision crossover, and LaCrosse sedan as the fourth new product arriving in Buick showrooms this year," Fowle said to Autoblog. Expect the 2017 Encore to have its own twist on the the Mokka's (now called the Mokka X) exterior styling, and spy shots hint the Buick has a new front end with a smaller grille. The Encore could benefit from the Opel's redesigned dashboard, which integrates the infotainment system into the center stack. It's a very attractive change, and we hope to see the switch in the US. The Mokka X also gets improved safety tech. The German compact CUV now sports adaptive LED headlights that adjust to traffic. US law doesn't allow these intelligent parts, but the Encore might get dumber LED lights. The Opel's improved front-mounted camera also increases the traffic sign detection rate. The Mokka X is available with the updated powertrain from the Encore Sport Touring, so there might not be any engine upgrades for the Buick. Buick needs to keep the Encore fresh, as the compact CUV is the brand's best selling model. It delivered 67,549 of them in 2015, a 38.2-percent jump over the previous year. The popularity continued into January 2016 with 4,920 deliveries – up 42 percent. Related Video:

2016 Buick Regal prices slashed

The Buick Regal is getting an aggressive price cut for the 2016 model year to keep pace in a crossover-centric world and its own hyper-competitive midsize sedan segment. The 2016 Buick Regal GS now starts at $35,915, after a $925 destination charge, which amounts to a $3,320 price cut compared to 2015. There's no de-contenting associated with the cost decreases either, and the vehicles are now available with Apple CarPlay. The lower prices follow through much of the lineup. The 1SP Premium model sees a $2,535 savings at $33,415 after destination; the 1SL trim falls $1,000 to $30,840; and the 1SV maintains at $28,915. The decision to make these cuts is meant to better position the midsize sedan against its rivals. "We know consumer sentiment towards sedans has decreased," Buick spokesperson Nick Richards said to Autoblog. CUVs like the company's own Encore are where buyers are moving. "Repositioning the Regal to more aggressively compete in the midsize sedan segment is the first of many steps we are taking in advance of next year's product offensive," Buick sales vice president Duncan Aldred said in a letter to dealers, according to USA Today. The decision probably couldn't have come at a better time because the Regal has suffered so far in 2015. Through July, the company has delivered 10,928 of them, down a significant 19.3 percent from the same period last year. A recent study also found that the model was among the most likely in the US to be sold after just one year of ownership.