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GM posts $4 billion third-quarter profit thanks to trucks and SUVs

DETROIT — General Motors is posting huge third quarter numbers, pulling in $4 billion in profit over three months after losing money due to the virus outbreak. GM's adjusted earnings were $2.83 per share, easily outpacing Wall Street's per-share projections of $1.43, according to a survey by FactSet. Revenue of $35.5 billion also edged out most expectations. Shares jumped almost 6% before the opening bell Thursday. The company swung back from a $806 million loss in the second quarter, when it was restarting factories shuttered for safety during the early stages of the pandemic. The Detroit automaker joined most global automakers in reporting better-than-expected earnings from July through September as sales across the globe started to rebound from coronavirus lockdowns, especially in China. GM sales in China jumped 12% in the third quarter, with sales of its Buick and Cadillac brands both rising more than 25%. In the U.S., GMÂ’s most profitable market, sales fell 9.9% in the third quarter compared with a year ago, but were a dramatic improvement over the 34% drop in the second quarter. Sales improved sequentially each month, the automaker said, an encouraging trend. GMÂ’s profit was boosted by higher-priced pickup trucks and large SUVs, which have seen strong sales in the U.S. through the pandemic. It was the best quarter on record for GM's Chevrolet Blazer. Sales of the Cadillac XT6 spiked 45% in the U.S. over last year. Large pickups also sold well. GM also said it was pumping $2 billion into its Spring Hill, Tennessee manufacturing plant to push its transition to produce electric vehicles. Last week, crosstown rivals Fiat Chrysler and Ford reported strong third-quarter net income. FCA said it made $1.4 billion for the period, while Ford earned $2.39 billion. Related Video: Earnings/Financials Buick Cadillac Chevrolet GM GMC

Best and Worst GM Cars

Oh yes, because we just love receiving angry letters from devoted Pontiac Grand Am enthusiasts, we have decided to go there. Based on a heated group Slack conversation, the topic came up about the best and worst GM cars. First of all time, and then those currently on sale, and then just mostly a rambling discussion of Oldsmobiles our parents and grandparents owned (or engineered). Eventually, three of us made the video above. Like it? Maybe we can make more. Many awesome GM cars are definitely going unmentioned here, so please let us know your bests and worsts in the comments below. Mostly, it's important to note that this post largely exists as a vehicle for delivering the above video that dives far deeper into GM's greatest hits and biggest flops, specifically those from the 1980s and 1990s. What you'll find below is a collection of our editors identifying a best current and best-of-all-time choice, plus a worst current and worst-of-all-time choice. Comprehensive it is not, but again, comments. -Senior Editor James Riswick Best Current GM Vehicle Chevrolet Corvette We were flying by the seats of our pants a bit in this first outing and my notes were similarly extemporaneous. When it came time to tie it all together on camera, I failed spectacularly. Thank the maker for text, because this gives me the opportunity to perhaps slightly better explain my convoluted reasoning. I chose the C8 Corvette because it's simply overwhelmingly good, and it's merely the baseline from which this generation of Corvette will be expanded.  While the Cadillac CT5-V Blackwing (more on that in a minute) is an amazing snapshot of GM's current performance standing and its little sibling so enraptured me that I went out and bought one, their existence is fleeting. Corvette will live on; forced-induction Cadillac sport sedans, not so much. So while all three are amazing machines when viewed in a vacuum, the Corvette stands above them as both a reflection of GM's current performance credentials and a signpost of what is to come. So, given the choice between the C8 and the 5V-Blackwing right now, I'd choose the C8. In 10 years, when the Blackwing is no longer in production and Corvette is in its 9th generation? Well, that might be a different story. Now, just pretend I said something even remotely that coherent when we get to the part of the video where I try to make an argument for the 5-V Blackwing as best GM car I've ever driven. Or just laugh at me while I ramble incoherently.

2020 Buick Encore GX First Drive | Bringing serenity to the subcompact market

With Buick seeing sales success in our crossover-crazed world, it’s no wonder the company is adding to its crossover lineup with the 2020 Buick Encore GX. It sits just above the existing Encore, and it offers more space and new turbocharged engines for just a bit more money. In fact, as it starts at just $900 more than the existing Encore and offers more power, space and fuel economy, itÂ’s unquestionably the Encore version to get when heading to your Buick dealer. But compared with other crossovers, the BuickÂ’s only real advantage is in its quietness, refined powertrain and upmarket badge. Otherwise it's a fine but unexceptional crossover. Powering the Encore GX is your choice of small turbocharged three-cylinder engines. The standard engine, available with every trim, is a 1.2-liter unit making 137 horsepower and 162 pound-feet of torque. ItÂ’s only able to be paired with a CVT and front-wheel drive. ItÂ’s also not the most efficient powertrain offering, returning 28 mpg in town, 31 on the highway, and 29 combined. The optional engine, available only on the upper two trims Select and Essence, is a 1.3-liter example making 155 horsepower and 174 pound-feet of torque. This engine can be paired with a CVT and front-wheel drive, or a nine-speed automatic transmission with all-wheel-drive. Also, because of efficiency boosters such as an offset crankshaft, electric oil pump, electric brake booster and electric turbo wastegate, itÂ’s the most efficient choice. With the CVT and front-wheel drive, the Encore GX manages 30 mpg in the city, 32 on the highway, and 31 combined. The all-wheel-drive version only gets 26 mpg in town, 29 on the highway and 28 combined. Our test car was an Encore GX with the 1.3-liter engine and the CVT, and on paper, itÂ’s the engine to go with. ItÂ’s more power with less fuel use. And while itÂ’s not the most powerful car in its segment, its torque is accessible throughout the rev band, so it never feels slow. Buick has done an excellent job keeping the engine quiet, either through powertrain refinement or through extensive sound deadening. YouÂ’ll never hear more than a faint growl from under the hood. The CVT is absolutely the transmission to choose, too. ItÂ’s amazingly smooth and unobtrusive. The revs are always kept low and thereÂ’s just enough variance in them that it doesnÂ’t feel like a rubber band. It responds fast to your right foot, too, so you arenÂ’t waiting for more rpm when needing to accelerate faster.