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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.

GM and Ford quarterly sales continue to slump in China

BEIJING — General Motors and Ford announced their quarterly sales in China fell, albeit at a slower pace sequentially, as the U.S. automakers were hit by a slowing economy amid the Sino-U.S. trade war. GM's vehicle sales in China for the quarter ended June 30 dropped 12.2%, while Ford's sales slumped by 21.7%. While GM also suffered from heightened competition in its key mid-priced SUV segment, Ford was hurt by the limited new models for customers to choose from. For the first quarter of this year, Ford's sales in China tumbled 35.8 percent while GM's skid 17.5 percent. Still, the numbers from GM, the second biggest international automaker in China by sales, and Ford portend more uncertainty for the industry which is trying to rebound from a downward spiral that led to its first annual sales decline last year in more than two decades. GM delivered 1.57 million vehicles in China in the January-June period this year, while Ford delivered 290,321 vehicles. China's factory activity shrank more than expected in June, highlighting the need for more economic stimulus amid higher U.S. tariffs and weaker domestic demand. Annual car sales in China fell last year for the first time since the 1990s, and they are expected to fall this year too. Sales tumbled 16.4% in May from the same month a year prior, the China Association of Automobile Manufacturers (CAAM) said. That marked the 11th consecutive month of decline and followed falls of 14.6% in April and 5.2% in March. U.S. car companies' share of total China passenger vehicles sales fell to 9.6% in the first five months of this year from 10.9% in the year-ago period, according to CAAM. Over the same period, German car makers' share has risen to 23.3% from 20.9% and Japanese auto makers' to 21.3% from 17.3%. CAAM is set to announce June sales next week, which industry analysts forecast will be negative.   New models In China, GM has a joint venture with SAIC Motor Corp, in which the Buick, Chevrolet and Cadillac are made. It also has another venture, with SAIC and GuangxiAutomobile Group, in which they make no-frills minivans and have started to make higher-end cars. Sales of GM's affordable brand Baojun dropped 31.8% for the latest quarter. But luxury brand Cadillac's sales jumped 36.6%. GM sold 3.64 million units in China last year, down from 4.04 units in 2017. Ford makes cars in China through its joint venture with Chongqing Changan Automobile Co and Jiangling Motors Corp (JMC).

Kia leads J.D. Power's Vehicle Dependability Study for 2022

For the first year ever, Kia leads J.D. Power's annual Vehicle Dependability Study with a score of 145 problems per 100 vehicles. Buick (147) and Hyundai (148) round out the top three. The highest premium brand on the list is Genesis, with a score of 148. It's common for so-called "mass market" brands to lead this particular study, according to J.D. Power, as "premium" brands "typically incorporate more technology in their vehicles, which increases the likelihood for problems to occur" and aren't necessarily built to a higher standard that less-expensive brands. The highest-rated single nameplate is the Porsche 911. It's the third time out of the past four years and the second year in a row that Porsche's quintessential sports car has taken top honors. Porsche as a brand sits in seventh place (162) just behind Lexus (159) and ahead of Dodge (166). At the very bottom of the list is Land Rover with a dismal score of 284; the SUV specialist held the same unfortunate distinction on last year's list. Ram (266), Volvo (256), Alfa Romeo (245) and Acura (244) also performed poorly. The overall industry average score sits at 192 — mass market brands average a score of 190 while premium brands sit 14 points lower at 204. While Tesla is unofficially included in some of J.D. Power's results, the agency says the sample size it has access to for this study is too small to include. As has been the case for the past several years, infotainment systems dominate the list of problems reported by owners. Popular (or unpopular, depending on your point of view) complaints include built-in voice recognition (8.3 PP100), Android Auto/Apple CarPlay connectivity (5.4 PP100), built-in Bluetooth system (4.5 PP100), not enough power plugs/USB ports (4.2 PP100), navigation systems difficult to understand/use (3.7 PP100), touchscreen/display screen (3.6 PP100), and navigation system inaccurate/outdated map (3.6 PP100). While problems with the car's infotainment and technology packages are indeed bothersome, it's important to remember that such issues aren't usually leaving owners stranded with an immovable vehicle like a broken transmission or blown engine would. Culling infotainment complaints from the results would reduce the average problem-per-100-vehicle score by a staggering 51.9 points. The vehicles included in this study are from the 2019 model year. That means owners have had three years to get to know their cars and trucks. It's the 33rd year that J.D.