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GM sees 'strong year' in 2018, then gold in Chevy Silverado for 2019

DETROIT — General Motors said on Tuesday it expects earnings in 2018 to be largely flat compared with 2017, but that profits should pick up pace in 2019 as its revamped line of high-margin pickup trucks hits the U.S. market. The 2018 earnings outlook was above market expectations, sending GM shares up more than 3 percent in premarket trading. "GM had a very good 2017 as we continued to transform our company to be more focused, resilient and profitable," GM Chief Executive Mary Barra said in a statement. "We are positioned for another strong year in 2018 and an even better one in 2019." GM and its Detroit rivals, Ford and Fiat Chrysler Automobiles, are bringing on new trucks at a time when overall U.S. new vehicle sales have been falling, but truck sales continue to grow as consumers abandon passenger cars in favor of pickups, SUVs and crossovers. GM on Saturday fired a new round in the battle for profits from one of the U.S. auto industry's most lucrative segments when it showed a new generation of its Chevrolet Silverado pickup truck at the Detroit auto show. The new Silverado, a highlight of the event, is the successor to GM's best-selling vehicle in North America. Sales of the current Silverado rose nearly 2 percent to 585,000 vehicles in 2017. In the coming months, the company will also reveal a revamped GMC Sierra pickup truck. U.S. new vehicle sales fell 2 percent in 2017 after hitting a record high in 2016, and are expected to drop further in 2018 as interest rates rise and more late-model used cars return to dealer lots to compete with new ones. GM said on Tuesday that while it retools a factory in Ft. Wayne, Indiana, to make the new pickup trucks, it will shift some production to an Oshawa, Ontario, plant in order to avoid missing sales in a hot market for the vehicles. The No. 1 U.S. automaker said it will record a $7 billion non-cash charge for its fourth-quarter 2017 earnings related to deferred tax assets. GM said it expects capital expenditure in 2018 of around $8.5 billion, about $1 billion of which will go toward funding self-driving car technology. Last week, the company said it is seeking U.S. government approval for a fully autonomous car — one without a steering wheel, brake pedal or accelerator pedal — to enter the automaker's first commercial ride-sharing fleet in 2019. GM said it expects 2017 earnings per share at the high end of its previously forecast range of $6 to $6.50.

Cadillac ELR getting massive discounts, some up to $14,000

Well, that didn't go as planned. General Motors had marketed the Cadillac ELR extended-range plug-in as a premium version of the Chevrolet Volt with some Caddy refinements. Now, it looks like that premium, at least from a price standpoint, is shrinking. Shoppers in a number of states are reporting that GM and its dealers are discounting the ELR in order to move more off dealer lots. The issue is that few people are biting at the official price tag of about $76,000, so GM has started offering as much as $8,000 worth of dealer and customer incentives, Transport Evolved reports. More recently, dealers in states such as Florida, Texas and Maryland are offering discounts in the $12,000-to-$14,000 range, and that's before any federal and state plug-in incentives kick in. It's not difficult to guess why. Through the first half of the year, GM sold fewer than 400 ELRs. Last month, Caddy moved just 97 units, or about as many as Tesla sells of its Model S in a day. Perpahs recent spy shots that reveal a test ELR that appears to up the sportiness quotient, with touches such as larger wheels and brakes, will also help sales. Check out Autoblog's "First Drive" impressions of the ELR here.

2017 GMC Canyon steals Cadillac's V6 for a little more power

GMC is fortifying the Canyon with a new powertrain and two new trim levels for 2017. GMC will give the Canyon the 3.6-liter V6 found in the Cadillac ATS, CTS, CT6, and XT5 crossover. The engine will be matched to an eight-speed automatic transmission, which also can be found on Cadillacs, the new 2017 Colorado, and other General Motors vehicles. The new engine comes with variable valve timing, improved direct injection, and Active Fuel Management, which is a form of cylinder deactivation that shuts off two cylinders to increase fuel efficiency and performance. Power is up from 305 to 308 horsepower, while torque increases from 269 to 275 pound-feet of torque compared to the old 3.6-liter V6. With the new transmission, the Canyon benefits from a higher first gear ratio, which should help drivers get off the line more easily when towing large cargo, and lower overdrive ratios for improved fuel efficiency. The 2016 model had a six-speed automatic. The Colorado also gets the eight-speed transmission for '17. GMC previously announced the All Terrain X and Denali models. The All Terrain X trim is offered on the SLE model and comes with the new 3.6-liter V6 engine or the 2.8-liter Duramax turbo-diesel. The All Terrain X gets Goodyear Wrangler DuraTrac P225/65R17 all-terrain tires, a body-color grille surround and matching rear step bumper, bespoke 17-inch aluminum wheels, and a spray-on bedliner. The truck also is fortified with Hill Descent Control and an off-road suspension. The Denali carries the flag as the most luxurious Canyon model and gets a Bose seven-speaker audio system, more chrome, and interior upgrades. In addition to the new models and the powertrain, the 2017 Canyon will be offered with new colors – Dark Slate Metallic, Mineral Metallic, and Red Quartz Metallic – a new IntelliLink radio with a seven-inch touchscreen, a heated steering wheel as an optional extra, and Standard Teen Driver Mode. The 2017 Canyon, with all of its changes, will be available in the fourth quarter of the year. Related Video: Featured Gallery 2017 GMC Canyon Denali: LA 2015 View 14 Photos News Source: GMC Cadillac GMC Truck Luxury Off-Road Vehicles engine gmc canyon chevrolet colorado