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GM might lose 90-year U.S. sales crown over chip shortage

Automotive News editor Nick Bunkley tweeted on October 1 that according to AutoNews data, General Motors "has been the largest seller of vehicles in the U.S. every year since passing Ford in 1931." With automakers having turned in light car and truck sales data for the first three quarters of 2021, GM's 90-year-run might not reach 91. According to AN figures, Toyota was 80,401 vehicles ahead when the October workday started. Worse, GM is so far behind its historic pace that it might only sell enough light vehicles in the U.S. to match its numbers from 1958.  Meanwhile, the New York Times put a few more salient numbers to the pain GM and Toyota are enduring alongside the the rest of the industry. GM sold 33% fewer cars in Q3 2021 than it did in Q3 2019 during the dark days of the pandemic, 446,997 units this year as opposed to 665,192 last year. GM's Q3 2020 was only down 13% on Q3 2019. Over at Toyota, the bottom line showed a 1% gain in Q3 2021 compared to 2020, with 566,005 units moved off dealer lots. The finer numbers show two steps forward and one step back, though; Toyota's September sales were down 22% compared to last year.  GM remains optimistic about what's ahead, GM's president of North American operations telling the NYT, "We look forward to a more stable operating environment through the fall." We'd like to see that happen, but we don't know how it happens. The chip shortage said to have been the inciting incident for the current woes isn't over, and not only can no one agree when it will be over, the automakers, chip producers, and U.S. government still can't get on the same page about who needs what and when. Looking away from that for a second shows articles about "No End In Sight" for supply chain disruptions in early September, before China had to start working through power supply constraints, global supply chain workers started warning of a "system collapse," and roughly 500,000 containers sat waiting to be unloaded at Southern California ports — a record number seemingly broken every week. And back to chips, we're told just a few days ago the chip shortage is "worse than we thought."   For now, the NYT wrote that GM dealer inventory is down 40% from June to roughly 129,000 vehicles, and down 84% from the days when dealers would cumulatively keep about 800,000 light vehicles in stock. However, GM just announced it would have almost all of its U.S. facilities back online next week, although some would run at partial capacity.

Cadillac confirms 'Blackwing' name, manual gearboxes for pumped-up CT4-V, CT5-V

Cadillac officially confirmed Tuesday that the high-output variants of its new CT4-V and CT5-V sedans will be dubbed "Blackwing," sharing a nameplate with GM's stillborn twin-turbocharged V8. As an added bonus, company representatives said for certain that both of Cadillac's new super-sedans will be offered with a manual transmission, confirming long-standing rumors to that effect.  "The Blackwing name has come to represent the very best of Cadillac performance engineering, craftsmanship and technology," said Cadillac chief engineer Brandon Vivian. "The new CT4-V Blackwing and CT5-V Blackwing build on the brand’s respected legacy of ultimate-performance driving experiences and elevate them even further." Cadillac says the two Blackwing sedans, which are successors to the critically acclaimed ATS-V and CTS-V, will represent "the apex of Cadillac performance and driver engagement." The company also remained mum on just what to expect in terms of capability, teasing only the fact that both the CT4-V and CT5-V Blackwing posted quicker lap times in testing at Virginia International Raceway earlier this year than their predecessors did.   Rumors have pointed to the CT5-V Blackwing making use of the company's supercharged 6.2-liter V8, which also powered its predecessor. The 6.2 shares its architecture with the company's flagship, naturally aspirated V8, making it an economical choice for powering performance cars. The smaller CT4-V is likely to be motivated by a turbocharged 6-cylinder. They will also be available in limited numbers, though Cadillac's announcement did not elaborate on just how many (or few, as the case may be) will eventually be built, or how many model years to expect. The CT6-V, which carries the 4.2-liter V8 that shares the "Blackwing" name, saw only limited production before being axed.  The V8 itself may find a new home down the road, but for the time being, it's toast.  Cadillac assured us that more information on the new CT4-V and CT5-V Blackwing will be come along soon enough. For now, at least we know what they're going to be called.  Related Video:    

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.