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GM earnings rise 1% as buyers pay more for popular pickups

DETROIT — General Motors said Thursday that higher prices for popular pickup trucks and SUVs helped overcome slowing global sales and profit rose by 1% in the second quarter. The Detroit automaker said it made $2.42 billion, or $1.66 per share, from April through June. Adjusting for restructuring costs, GM made $1.64 per share, blowing by analyst estimates of $1.44. Quarterly revenue fell 2% to $36.06 billion, but still beat estimates. Analysts polled by FactSet expected $35.97 billion. Global sales fell 6% to 1.94 million vehicles led by declines in North America and Asia Pacific, Middle East and Africa. The company says sales in China were weak, and it expects that to continue through the year. In the United States, customers paid an average of $41,461 for a GM vehicle during the quarter, an increase of 2.2%, as buyers went for loaded-out pickups and SUVs, according to the Edmunds.com auto pricing site. The U.S. is GM's most profitable market. Chief Financial Officer Dhivya Suryadevara said she expects the strong pricing to continue, especially as GM rolls out a diesel pickup and new heavy-duty trucks in the second half of the year. "We think the fundamentals do remain strong, especially in the truck market," she said, adding that strength in the overall economy and aging trucks now on the road should help keep the trend going. Light trucks accounted for 83.1% of GM's sales in the quarter, and pickup truck sales rose 8.5% as GM transitioned to new models of the Chevrolet Silverado and GMC Sierra, according to Edmunds, which provides content to The Associated Press. As usual, GM made most of its money in North America, reporting $3 billion in pretax earnings. International operations including China broke even, while the company spent $300 million on its GM Cruise automated vehicle unit. Its financial arm made $500 million in pretax income. Suryadevara said GM saw $700 million in savings during the quarter from restructuring actions announced late last year that included cutting about 8,000 white-collar workers through layoffs, buyouts and early retirements. The company also announced plans to close five North American factories, shedding another 6,000 jobs. About 3,000 factory workers in the U.S. whose jobs were eliminated at four plants will be placed at other factories, but they could have to relocate. GM expects the restructuring to generate $2 billion to $2.5 billion in annual cost savings by the end of this year.

Buick Century attracts 15,000 bees searching for new hive

By most accounts, the fifth-generation Buick Century isn't considered a desirable place to live. For a swarm of 15,000 bees, however, the lure of the front-drive A-body proved irresistible, much to the chagrin of the car's Las Cruces, N.M. owner. The unidentified man had gone shopping in an Albertson's grocery store, returned to his car, placed his purchases in the car, and began driving away. Then he noticed that something was, according to the New York Times, "amiss." The Buick owner called 911, which dispatched the Las Cruces Fire Department to the scene. Luckily, one firefighter and paramedic in the brigade, Jesse Johnson, is a hobbyist beekeeper. Though he was off duty at the time, Johnson sprung into action and arrived at the Buick with equipment to transfer the bees safely, including an empty hive box, a beekeeper's outfit and lemongrass oil, which mimics the scent of the queen. Johnson told the Times that bee colonies will often split in springtime, with a swarm following a queen to search for a new home. Apparently, the partially open window of a 1982-96 Buick Century looked like an inviting, perhaps temporary, location as the bees relocated. Johnson removed 3.5 pounds' worth of bees in a span of less than a half hour. He is rehabitating the bees at his home, where he maintains other hives. “IÂ’ll do anything to keep people from killing the bees,” Johnson told the Times. He also explained that when bees swarm like this, they are typically pretty docile. Amazingly, the Buick owner was only in the store for 10 minutes, the paper reports. Johnson believes the bees came from a nearby neighborhood. Fortunately, no one was injured during the incident. One Albertson's security guard was stung, according to the Las Cruces Fire Department, and another firefighter was stung on the lip. For the record, the Las Cruces Fire Department says they don't routinely handle bees. It was just fortunate that Johnson was around. It's not clear if the bees would have flocked to a similar era Chevy Celebrity or Oldsmobile Cutlass Ciera. Related Video:

Junkyard Gem: 1997 Oldsmobile Eighty-Eight LSS Supercharged

Oldsmobile got terminated by The General in 2005, in part because the marketing suits decided that the first three letters of the marque's name made the cars undesirable to the under-75 set (never mind that 21st-century rappers continue to venerate Oldsmobiles). Not long before the demise of Olds, though, you could buy an Eighty-Eight with the supercharged L67 V6, known as the Luxury Sports Sedan or LSS. These cars are very rare today, but I spotted this '97 in a Denver self-service wrecking yard. These Eaton blowers are now so easy to find in wrecking yards that most of them go unpicked by customers. The going rate for this supercharger is about 50 bucks, because everyone who wants one already has a big hoard of the things. If you have ever wanted to drop a supercharger onto your crapcan race car's engine, now is the time. Performance was respectable for the era, with output of 240 hp and 280 lb-ft. The 3800 was the descendant of the ancient Buick V6, which debuted way back in 1962, so GM had had many decades in which to make it a dependable (though not very smooth-running) powerplant. Yes, you could still buy big ol' sedans with rear drums at the dawn of the 21st century. Did the LSS steal any sales from potential BMW or Mercedes-Benz buyers? Probably not many, though its $27,695 price tag must have looked pretty tempting when compared to that of the much slower $32,960 Lexus ES 300 in 1997. Right now is the best time to make a resolution you'll enjoy sticking with. The reviewers at Popular Mechanics were unable to break the first-year LSS. Related Video: Featured Gallery Junked 1997 Oldsmobile Eighty-Eight LSS View 12 Photos Auto News Buick Economy Cars Classics Sedan supercharger