2010 Buick Enclave Cxl Sport Utility 4-door 3.6l on 2040-cars

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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.

J.D. Power: Mini, Lexus again offer most satisfying sales experience

JD Power has released its annual Sales Satisfaction Index Study, and once again Mini and Lexus have taken top honors. Overall, buyers are more satisfied with the auto-buying sales experience than they were last year, with those surveyed reporting an average score of 664 points on a 1,000-point scale. That's up from 648 in 2011. Dealer satisfaction also increased by five points over last year as well.
All told, Lexus brought home an index score of 737, which was high enough to put it atop the luxury brands for the second year in a row. JD Power says Infiniti came in second in that category with a score of 728 and Cadillac rounded out the podium with it's rating of 725. Speaking of Infiniti, that brand saw the single largest jump in sales satisfaction of any brand on the survey, popping up 52 index points over 2011.
Among mass-market brands, Mini ranked highest with a score of 712, followed closely by Buick with 706 and GMC farther down the line with 683. You can check out the full press release below for more information.

Buick resurrects the Electra nameplate on a science fiction-like electric concept

Buick plans to broaden its range of electric cars in the coming years, and it still owns the rights to the heritage-laced Electra nameplate, so it was only a matter of time before the past and the future met head-on. Buick resurrected the name it used between the 1959 and 1990 model years on a futuristic, battery-powered concept car. Created by a Shanghai-based design studio, the Electra concept takes the form of either a tall sedan or a low crossover, depending on your perspective. While it's not officially a preview of an upcoming production model, it ushers in a design language named Potential Energy that will permeate most of the electric cars the firm will release during the 2020s. It's inspired by a space capsule, according to Buick, so its greenhouse was drawn to resemble a glass pod. Its surfaces are sculpted but not chiseled, and its front fascia wears LED lights with a three-dimensional effect. Fear not: Stylists didn't forget the seemingly obligatory back-lit emblem. Butterfly doors provide access to the cabin, where the space capsule theme continues. Buick packed the Electra with cutting-edge technology features, but it concealed them rather well to avoid a tech overload. The driver faces a rectangular steering wheel that retracts when it's not needed, behind which is a wide, curved screen that replaces all of the buttons, knobs, and switches normally found in a car's interior. An electric motor is far more compact than a comparable four- or six-cylinder engine, so designers were able to carve out a generously sized interior. Engineers embedded technology into the Electra from the project's earliest stage. It's equipped with software named eConnect that supports over-the-air updates, provides on-demand information about a specific trip, and gives details about the various electronic driving aids. An artificial intelligence-powered assistant lets users perform various tasks, such as setting the air conditioning or controlling home devices, with voice commands. Buick noted the Electra offers about 410 miles of driving range thanks in part to the Ultium battery technology developed by General Motors to power a wide selection of electric models, including the Cadillac Lyriq, the GMC Hummer, and a pair of Honda-badged models scheduled to go on sale for the 2024 model year.