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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.

Buick Avista concept is 'buildable', but not a priority

Buick could build the striking Avista concept that debuted at the Detroit Auto Show, though it's not a top priority, the brand's top executive said Tuesday in New York. "The reaction's been so great, we'll try to run the numbers and see if there's a business case," said Duncan Aldred, Buick vice president of sales, service, and marketing. Buick will show the Avista in red this week at the New York Auto Show as a followup to its Detroit debut. Buick actually built two prototypes, which are being used to promote the brand's performance potential at auto shows around the world this year. "It's very buildable," Aldred told reporters after the reveal of the reveal of the 2017 Encore small crossover before the New York Auto Show. "Ultimately, it comes down to priorities." He added, "We'd love to do it. We could do it, but [there's] lots of things we'd love to do... Nothing to confirm or deny." The Avista concept suggests a sports car with a twin-turbo V6 with 400 horsepower put to the rear wheels. The two-door followed another impressive Buick concept, the Avenir, which was four-door styling exercise from the 2015 Detroit show. Though the Avista remains on the minds of enthusiasts – helped in part by Buick – the priorities for the brand are crossovers. The Avista offers style, but the freshened Encore is the substance for Buick in New York, which along with the Envision, launches this year into the red-hot utility segment. The new Cascada convertible and redesigned LaCrosse also are joining Buick's lineup this year. While the Avista is doable, the brand clearly has other priorities ahead of it. Related Video:

Buick teases the next-gen LaCrosse

Buick continues to play coy about the next-generation LaCrosse, but the latest teaser hints at a swoopy profile for the upcoming sedan. While mostly just a silhouette, the teaser does provide a glimpse of the flowing roof and upward crease around the rear fenders – especially handsome touches. The rest of the LaCrosse remains a mystery. The only other part that we've seen is the Avenir-inspired grille, which features a more angular surround and chrome wings jutting from emblem in the center. Styling aside, the brand claims that the sedan is now more engaging behind the wheel thanks to a stronger, lighter chassis and five-link rear suspension. Powertrain rumors are rather vague but suggest the 3.6-liter V6 will be available when the model arrives at dealers in 2016. One thing we know for certain about the LaCrosse is that it debuts at the Los Angeles Auto Show in November. That only leaves a few more weeks for Buick to keep this mystery going. Related Video: