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Is this GM's next electric crossover?

GM made headlines this week when CEO Mary Barra presented the company's electrification and automation plans at the Barclays Global Automotive Conference in New York. "We are committed to a future electric vehicle portfolio that will be profitable," Barra said, which could be taken as a jab at Tesla. In the presentation ( PDF here), though, we see a new vehicle in a slide titled "Leveraging existing BEV platform to expand in near term." The vehicle, seen above, accompanied the captions "New CUV entries" and "two entries by 2020." Is this a sneak preview of an upcoming electric crossover from GM? The image seems too realistic and intentional to be a random placeholder. If this is, indeed, an upcoming battery-electric CUV based on the Bolt, the question remains: Will it be a Chevy or a Buick? It has no visible badging, but it shares DNA from both brands. As Inside EVs points out, though, it does bear a resemblance to the Chevrolet FNR-X concept unveiled in Shanghai earlier this year. With two CUVs on the way, it's not unthinkable that there could be a version for each brand. In addition to this slide, the presentation includes plans for an "All new multi-brand, multi-segment platform" launching in 2021. The all-new modular battery system will cost less than $100 per kWh, providing higher energy density and faster charging. The platform will host at least nine different vehicles, including a compact crossover, seven-seat luxury SUV and a large commercial van. GM has said it will launch 20 new EVs by 2023, and that it targets 1 million EV sales per year by 2026. Many of those sales will be in China. Related Video:

Buick Blackhawk concept headed to auction block again

While the collector car auction market is often criticized for inflating the price of vintage models out of the realm of affordability for many buyers, these sales do give us an opportunity to look back on some of the beautiful, rare designs of the past. Just take a glance at this Buick Blackhawk concept with a shape right out of the '40s or '50s. Despite the heritage styling, it was pieced together from older pieces for Buick to celebrate itself in the early 2000s With styling inspiration from the classic Buick Y-Job concept car, the Blackhawk mixes actual vintage components to create its curvaceous shape. However, the power retractable top is thoroughly modern being made from carbon fiber and stows in the deck lid when the roof needs to go down. After so much work on the outside, the Buick has something equally surprising under the hood. It's a 1970 455-cubic-inch (7.5-liter) V8 GS Stage III V8 with a claimed 463 horsepower and 510 pound-feet of torque, and for easy cruising the mill is linked to a four-speed automatic. Built in-house by Buick, the Blackhawk was once part of the General Motors Heritage Fleet, but the automaker sold it off in 2009 at the Barrett-Jackson auction in Scottsdale, AZ, along with many other members of the collection. The concept went for $522,500 after the buyer's premium, according to the auctioneers. Now, it's crossing the block again with no reserve as part of RM Auctions sale of the Andrews Collection on May 2, 2015, in Fort Worth, TX. The 75-car auction also includes highlights like one of seven 1962 Ferrari 400 Superamerica SWB Cabriolet models bodied by Pininfarina. Featured Gallery Buick Blackhawk Concept News Source: RM Auctions, Barrett-Jackson AuctionsImage Credit: Darin Schnabel Courtesy of RM Auctions Design/Style Buick Auctions Convertible Concept Cars

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.