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Cadillac teases camo'd ELR ahead of Detroit debut

With the 2014 Cadillac ELR being introduced next week at the Detroit Auto Show, General Motors has revealed another picture of its luxury range extended electric vehicle. Last month, we saw a dark, teaser photo showing some of the body detail for the electric coupe, but this recent photo shows the Cadillac in full camouflage testing in California back in September.
If this car looks familiar, it's because our spy shooters got a jump on GM by catching the car in action and providing pictures from all angles. There are still no official details for the ELR yet aside from the fact that it will share the Voltec system with the Chevrolet Volt, but we'll finally see the car unveiled in Detroit a week from today.

GM earnings rise 1% as buyers pay more for popular pickups

DETROIT — General Motors said Thursday that higher prices for popular pickup trucks and SUVs helped overcome slowing global sales and profit rose by 1% in the second quarter. The Detroit automaker said it made $2.42 billion, or $1.66 per share, from April through June. Adjusting for restructuring costs, GM made $1.64 per share, blowing by analyst estimates of $1.44. Quarterly revenue fell 2% to $36.06 billion, but still beat estimates. Analysts polled by FactSet expected $35.97 billion. Global sales fell 6% to 1.94 million vehicles led by declines in North America and Asia Pacific, Middle East and Africa. The company says sales in China were weak, and it expects that to continue through the year. In the United States, customers paid an average of $41,461 for a GM vehicle during the quarter, an increase of 2.2%, as buyers went for loaded-out pickups and SUVs, according to the Edmunds.com auto pricing site. The U.S. is GM's most profitable market. Chief Financial Officer Dhivya Suryadevara said she expects the strong pricing to continue, especially as GM rolls out a diesel pickup and new heavy-duty trucks in the second half of the year. "We think the fundamentals do remain strong, especially in the truck market," she said, adding that strength in the overall economy and aging trucks now on the road should help keep the trend going. Light trucks accounted for 83.1% of GM's sales in the quarter, and pickup truck sales rose 8.5% as GM transitioned to new models of the Chevrolet Silverado and GMC Sierra, according to Edmunds, which provides content to The Associated Press. As usual, GM made most of its money in North America, reporting $3 billion in pretax earnings. International operations including China broke even, while the company spent $300 million on its GM Cruise automated vehicle unit. Its financial arm made $500 million in pretax income. Suryadevara said GM saw $700 million in savings during the quarter from restructuring actions announced late last year that included cutting about 8,000 white-collar workers through layoffs, buyouts and early retirements. The company also announced plans to close five North American factories, shedding another 6,000 jobs. About 3,000 factory workers in the U.S. whose jobs were eliminated at four plants will be placed at other factories, but they could have to relocate. GM expects the restructuring to generate $2 billion to $2.5 billion in annual cost savings by the end of this year.

GM Cadillac chief: New CT5 will replace 3 sedans; EVs coming

DETROIT - The head of General Motors' Cadillac luxury division said on Thursday the brand will shrink its lineup of sedans and expand its offerings of sport utility vehicles and hybrid and electric vehicles in response to market shifts. Expanding Cadillac's global sales is central to GM's overall profit strategy, and Cadillac has reported a 27 percent increase in worldwide sales through the first half of the year. However, in the United States, now the brand's second largest market behind China, Cadillac sales are down 1.6 percent and combined sales of the brand's four sedan models have plummeted 16.3 percent through the first half of the year. That has forced GM to order layoffs at two Michigan factories that build Cadillac cars, and raised questions about the long term future of the plants. "We have to rebalance our sedan portfolio," Johan de Nysschen told Reuters in interview, offering new details about the strategy. Cadillac will not directly replace the current XTS, CTS or ATS sedans when they end their life cycles in 2019, he said. Instead, Cadillac will use a single new car called the CT5 to appeal to consumers shopping for sedans priced between $35,000 and $45,000. New versions of the CT6 sedan will be offered to customers who want a larger car starting at $50,000. Sources had told Reuters last week that GM was considering ending production on six cars including the CT6 and XTS and models from Chevrolet and Buick. That report now appears only half-right as far as Cadillac is concerned. The new CT5 will be built at a factory near Lansing, Michigan, that currently builds the slow-selling Cadillac ATS and CTS models. A small luxury sedan to compete with the Audi A3 will be built in the same plant, de Nysschen said. Cadillac will offer more SUVs, starting with a compact model called XT4, followed by a larger SUV with three rows of seats due by 2019 to compete with vehicles such as Volvo's current XC90 model. Volvo, owned by China's Zhejiang Geely Holding Group, scored a public relations coup by announcing plans earlier this month to power all its vehicles with either hybrid or all-electric technology starting in 2019. The move challenges Tesla, which has eclipsed more established brands with tech savvy luxury buyers. Cadillac has plans "not dissimilar to what Volvo has announced," with more electrified vehicles launching in the second half of the next decade, de Nysschen said.