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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.

GM recalls 500K Chevy Camaros for ignition-switch defect

General Motors issued a recall for more than a half million Chevrolet Camaros on Friday morning because of an ignition-switch safety hazard that mirrors the one at the center of the company's current crisis.
The problem affects Camaro models from the 2010 to 2014 model years. Approximately 464,712 cars are impacted in the United States, and 511,528 overall in North America. GM will alter the Camaro key to a more standard design, and will notify car owners with a recall notice in the mail.
In an announcement, the company said the ignition switches on the Camaros are fundamentally different parts than the older ignition switches found on defective cars that are responsible for killing at least 13 people and causing 54 crashes.

2018 Buick Regal TourX First Drive Review | Pop the champagne, it's another wagon!

As a newborn member of an endangered species, we should probably pop open the Dom to fete the arrival of the 2018 Buick Regal TourX. It's a wagon, after all, and if there's anything we automotive writers have been clamoring for is more wagons. "Forget those SUVs," we've implored. "This wagon over here is better! Just as much cargo space, better to drive! And have you seen it in brown?" Well, it seems like our collective proselytizing is starting to pay off, or perhaps far more likely, consumer tastes are shifting a bit to appreciate the wagon. Sure, they need to be lifted a bit and sport plastic fender flares to add a wee bit of SUV-ish flavor, but who the hell cares? Beggars, choosers, etc. It's a wagon, and we should be happy it's here. And we are, the Regal TourX is a pretty good one that thankfully offers more than just its mere existence. It especially delivers on the space front, which is refreshing since most of today's wagons are not as cargo friendly as the collective "we" would like to admit. An Audi Q5 regrettably does have more cargo space than an Audi A4 Allroad. Yet, the TourX has more than both – considerably more in fact, coming in at a certifiably huge 73.5 cubic feet of maximum space. The difference is palpable between it and the 53.5-cubic-foot Allroad, which Buick considers the TourX's closest competitor. As the below video (somewhat) demonstrates, I was able to cram 12 Patagonia duffle bags into the Allroad, filling up most of the cabin. The same amount in the TourX left tons of residual space, you could still see out the back and loading it all in didn't require a degree in Advanced Tetris. There's also a far more useful amount of space with the back seat raised (32.7 vs. 24.2). That area is especially lengthy, and with the large rear quarter windows and reasonably square roofline, it should be a good choice for dog owners. There's no built-in dog net behind the back seat as you'll find in the Allroad and BMW 3 Series wagon (you'd have to go the aftermarket route), but your four-legged buddy should at least appreciate the lower liftover/jump-aboard height. Which brings us to the next wagon benefit: the lower roof height. According to Buick's marketing folks, people who buy off-roadish wagons like the Regal TourX are far more likely to actually live the outdoorsy active lifestyles the owners of SUVs usually only envision for themselves.