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GM sees 'strong year' in 2018, then gold in Chevy Silverado for 2019

DETROIT — General Motors said on Tuesday it expects earnings in 2018 to be largely flat compared with 2017, but that profits should pick up pace in 2019 as its revamped line of high-margin pickup trucks hits the U.S. market. The 2018 earnings outlook was above market expectations, sending GM shares up more than 3 percent in premarket trading. "GM had a very good 2017 as we continued to transform our company to be more focused, resilient and profitable," GM Chief Executive Mary Barra said in a statement. "We are positioned for another strong year in 2018 and an even better one in 2019." GM and its Detroit rivals, Ford and Fiat Chrysler Automobiles, are bringing on new trucks at a time when overall U.S. new vehicle sales have been falling, but truck sales continue to grow as consumers abandon passenger cars in favor of pickups, SUVs and crossovers. GM on Saturday fired a new round in the battle for profits from one of the U.S. auto industry's most lucrative segments when it showed a new generation of its Chevrolet Silverado pickup truck at the Detroit auto show. The new Silverado, a highlight of the event, is the successor to GM's best-selling vehicle in North America. Sales of the current Silverado rose nearly 2 percent to 585,000 vehicles in 2017. In the coming months, the company will also reveal a revamped GMC Sierra pickup truck. U.S. new vehicle sales fell 2 percent in 2017 after hitting a record high in 2016, and are expected to drop further in 2018 as interest rates rise and more late-model used cars return to dealer lots to compete with new ones. GM said on Tuesday that while it retools a factory in Ft. Wayne, Indiana, to make the new pickup trucks, it will shift some production to an Oshawa, Ontario, plant in order to avoid missing sales in a hot market for the vehicles. The No. 1 U.S. automaker said it will record a $7 billion non-cash charge for its fourth-quarter 2017 earnings related to deferred tax assets. GM said it expects capital expenditure in 2018 of around $8.5 billion, about $1 billion of which will go toward funding self-driving car technology. Last week, the company said it is seeking U.S. government approval for a fully autonomous car — one without a steering wheel, brake pedal or accelerator pedal — to enter the automaker's first commercial ride-sharing fleet in 2019. GM said it expects 2017 earnings per share at the high end of its previously forecast range of $6 to $6.50.

Buick Velite 6 to come in PHEV, electric versions for China

In addition to the all-electric Enspire crossover concept revealed this week ahead of the Beijing Auto Show, Buick is adding a new production variant to its Velite series of electrified vehicles for China. It's called the Velite 6, a plug-in hybrid that will launch this year in Buick's largest market. A full-electric version, shown in the lead photo above at right, is coming later. Buick already sells a vehicle called a Velite 5 in China, which is essentially a rebadged Chevrolet Volt, only with a higher electric-only driving range. This one is based on the Velite concept PHEV introduced in late 2016 at Auto Guangzhou. The PHEV and battery-electric versions look nearly identical, with a wide stance, plenty of creases and a hatchback design that bears some similarities to the longer 2018 Regal TourX wagon. The Velite 6 uses two AC permanent-magnet synchronous motors, a lithium-ion battery and a 1.5-liter four-cylinder combustion engine. Buick says combined gas-electric driving range is 435 miles, which is 15 miles greater than the Volt. Buick will assemble what it calls the "new-generation" ternary battery pack at its new SAIC-GM Power Battery Development Center in Shanghai. The company says the Velite 6 electric vehicle "will adopt a new-generation pure electric drive system to offer customers a smooth, quiet and natural driving experience." Both models get the cloud-based Buick eConnect technology, which allows over-the-air software updates, real-time integration with China's WeChat social media network, and other digital perks. Owners will also be able to use their smartphone as the vehicle's key, and they can also authorize others to use the car through their phones. China has long been Buick's largest market, with more than 1.18 million vehicles sold in 2017 compared to just 219,231 in the U.S., and the country has established aggressive mandates for production of electric vehicles. GM has plans to add 20 new electric and fuel-cell vehicles globally by 2023. Related Video:

Early 2024 Buick Envision pricing is out, and there's some good news

Early price guide data is out for the refreshed 2024 Buick Envision, although we're still waiting for the Envision to emerge for behind-the-scenes drama. The automaker announced its handsome midsizer with a single photo last June, promising the debut of Super Cruise and more information before the end of the year. There have been no official updates since then. The last unofficial update came from GM Authority, the rumored intel being GM pushed the Envision's market launch to the end of this year, and Super Cruise had been nixed from the menu.  Autodata reported not long after the online reveal that Buick was culling front-wheel-drive Envision trims, and that's borne out by pricing. This move usually raises prices by four figures before inflation, the profit motive, and Wall Street obligations exert their pressure; such is the case here, too. The 2023 Envision Preferred FWD still shown on the Buick retail site starts at $34,745, but the early MSRPs show buyers will need another $2,500 for a chance to open the door on a 2024 Envision. However, there's good news for everyone who wanted an AWD Envision. Assuming destination holds steady at $1,395, the AWD base prices and their differences from 2023 AWD trims are: Preferred: $37,295 ($1,150 less) Sport Touring: $39,795 ($900 less) Avenir: $48,395 ($460) Hard to complain about two of three trims costing less, and the flagship trim only costing $460 more. Oh, and the middle trim was called the Essence in 2023, we'll eventually learn if the name change to Sport Touring involves a new feature set.   As to changes, Buick designers gave the SUV's front end a complete overhaul up front. A bigger grille is positioned lower on the front fascia, there's reworked bright trim, and the new Buick emblem on the hood. Headlights are now integrated into the bumper, Jeep Cherokee-style, and LED daytime running lights replace the outgoing Envision's headlights. The revamped look brings the Envision in line with other recent additions to the Buick range, like the Encore. Because Buick released one picture for the summer reveal, we still have no idea what the Envision's back end and interior look like. In our previous post on the delay, we mused that GM might get good news and move the production date up from year-end. GMA says that's what's happened, production now slated for Q1 of this year at one of Buick's plants in China.