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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.

GM executive chief EV engineer says reducing cost of plug-in vehicles is 'huge priority'

As we know, another major automaker investing heavily in electrified vehicles is General Motors, and it's doing things much differently than rivals BMW, Ford or Nissan. The Chevrolet Volt extended-range EV is a modest seller at its $35,000 sticker price but a huge hit with owners. The Chevy Spark BEV, still in limited availability, puts smiley faces on its owners and drivers. The just-introduced Cadillac ELR, a sharp-looking, fun-driving $76,000 luxocoupe take on the Volt's EREV mechanicals, has admittedly low sales expectations. With this interesting trio in showrooms and much more in the works, the third vehicle electrification leader I collared for an interview at Detroit's North American International Auto Show (see #1 and #2) was Pam Fletcher, GM's executive chief engineer, Electrified Vehicles. ABG: Why do your EREVs need four-cylinder power to extend their range when BMW's i3 makes do with an optional 650 cc two-banger? "We designed [the Volt and the ELR] to go anywhere, any time" - Pam Fletcher PF: I get that question all the time: why not something smaller? You don't really need that much. You use the electric to its ability, then you just need to limp. But we designed those cars to go anywhere, any time, and we don't want their performance to be compromised. If you're driving through the mountains, we don't want you to be crawling up grades, or to be limited on any terrain. So it's optimized to be able to travel literally the biggest grades and mountain roads around the globe at posted speeds. Because what if you can't? Another good reason: when the engine is on, you have to run it wide open throttle, max speed, most of the time. And while we can do a lot with acoustics, and the ELR has active noise cancelation, a small-displacement, low cylinder-count engine at high speed, high load all the time isn't something you want to live with. That's how we came up with the balance we did among the key factors of performance, NVH [noise, vibration and harshness] and range. ABG: Where you go from here? Is the range-extender engine due for an update? PF: We know and love the current Volt, and there is still a lot of acclaim about it, so we think it's a good recipe. But we are heavily in the midst of engineering the next-generation car, which I think everyone will love and be excited about.

2015 Cadillac Escalade is exactly what you expect [w/video]

Leading up to the debut of the 2015 Cadillac Escalade, we were told that the new luxo-SUV would be "much less ostentatious" and that we could expect greater differentiation from its Chevy Tahoe/Suburban and GMC Yukon siblings. And while those things may be true to some extent, after digesting the full raft of Escalade information and photography, we can say that this new 2015 model is exactly what we were expecting all along.
No, there isn't a single part of the new Escalade package makes us go "wow" or "ooh," but it still looks like a solid, nicely updated offering that will surely attract the same sort of baller status when it hits the road. For starters, the new front end has been completely redesigned, where cleaner, tauter lines work with the full-LED headlamps and running lamps to create a face that, while familiar, falls right in line with the rest of Cadillac's lineup. Around the sides, the shape is exactly the same as the rest of the SUV's platform mates, with better-fitting body panels and a handsome, upright design. Of course, 20-inch wheels are standard, and hifalutin' 22-inch rollers are available (in chrome, we assume). Things get really interesting around back, where full-LED taillamps extend from the bumper all the way up to the top of the tailgate, and - like the Tahoe/Suburban/Yukon - the rear window wiper has been integrated into the top of the hatch for a cleaner look. It all looks pretty modern and good, but doesn't really tone down the otherwise flashiness of the Escalade package.
Like its predecessor, the new Escalade will be available in standard- and extended-wheelbase formats (bring on the EXT!). Only one engine is available: GM's 6.2-liter EcoTec3 V8, good for 420 horsepower and 460 pound-feet of torque, mated to a six-speed automatic transmission. Both two- and four-wheel drive configurations will be offered, and the new Escalade should be a bit better to drive than the previous model, with a new coil-over front suspension and five-link rear setup, a wider track, variable-assist electric power steering and Cadillac's Magnetic Ride Control system with Tour and Sport modes.