1984 Buick Riviera on 2040-cars

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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

Junkyard Gem: 1983 Buick LeSabre Estate Station Wagon, Rocky Mountain High Edition

If you live in Colorado and want an affordable chariot to haul you and your snowboarding droogs to the slopes, you could get one of the obvious cheapskate choices, e.g., a Tercel 4WD, a Corolla All-Trac, or an 80s 4WD Subaru wagon. However, if you want to channel the spiritual forefathers of early-1980s punk rock (and you do), you'll need a big, battered, Detroit bomb. This '83 LeSabre, spotted in a Denver self-service wrecking yard, is such a car. As you can see in 1984's Suburbia, you're pretty much halfway to being a member of The Vandals when you drive a couple of tons of once-luxurious Detroit Iron. 1983 was the final year of the Malaise Era, and so you didn't get much power from the V8s back then. The standard engine for the LeSabre that year was an Olds 307 generating a mere 140 horsepower. The only way to get a burnout out of this setup was to pour a case of Lucky Lager over the right rear tire, then neutral-drop the transmission while floating the valves. Chrysler and Nissan dominated the Whorehouse Red car interiors during the 1980s, but GM made a respectable showing with this scratchy, velour-influenced stuff. When you know you're a car's last owner, nothing holds you back from decorating it to suit your tastes. Ron Paul, the Snowboarders + Skiers For Christ, and many other icons of Buick-driving snow enthusiasts are represented upon the ample flanks of this wagon. How many miles are on it? With a five-digit odometer, there's no telling. The Colorado sun is rough on interiors, but this car may have spent its first couple of decades parking in a garage, or maybe it came from cloudy Oregon. Advertising for this generation of LeSabre emphasized fuel economy, which may have been a less-than-convincing approach. Related Video:

Lutz dishes dirt on GM in latest Autoline Detroit

Bob Lutz sits down for Autoline Detroit - Click above to watch video after the jump
Autoline Detroit recently played host to Bob Lutz, and, as is always the case, the former General Motors vice chairman dished out some great commentary. Lutz was promoting his new book Car Guys vs. Bean Counters: The Battle for the Soul of American Business, and talk quickly turned to his role as it related to product development and high-level decision making at GM. While on the topic of brand management, Lutz revealed a few rather interesting tidbits about his former employer:
All Chevrolet vehicles were required to have five-spoke aluminum wheels and a chrome band up front, as part of the Bowtie brand's overall image.