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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.

The new presidential limo is almost ready and way bigger than a Suburban

If you're familiar with the current presidential limo, which is nicknamed The Beast, you know it's based on a medium-duty truck platform. This new one, shown in aerial spy photos, appears to be just as huge. The vehicles flanking it in these shots are Chevrolet Suburbans, basically the largest passenger vehicle you can buy. And while the limo looks car-shaped, it's very tall and much longer than the three-row SUV. You might say it's yuge. Like its predecessor, The Beast 2.0 is being developed in secret because all of its various systems and defenses are matters of national security. We are fairly confident that it has lots of armor protection, glass that's about five inches thick, and special systems to clean the air in the event of a biological warfare attack. The current Beast is also said to carry a pint or two of the President's blood type just in case something does happen. When the President is being transported in a motorcade, he is at his most vulnerable, so Cadillac One and the vehicles that surround it have to be prepared for almost anything. In fact, two identical presidential limos travel together to make it harder for would-be attackers to do bad stuff. The Suburban escort it's getting here at the GM proving grounds is appropriate, since most of the vehicles used by the Secret Service to accompany the President's motorcade are big GM SUVs. By the looks of this camouflaged prototype, GM is nearing completion of testing the new Presidential car. The styling is a mix of CT6 sedan and Escalade, with a little XTS thrown in, and it looks a lot more sleek by comparison than the current blocky Beast. When it's ready, President Donald Trump will be the first to ride in it on official business and the current beasts will probably be retired and end up in a museum. Related Video: Featured Gallery Cadillac One Presidential Limo Spy Photos View 13 Photos Image Credit: Chris Doane Automotive Government/Legal Spy Photos Cadillac Luxury Sedan the beast cadillac one

Why Cadillac is willing to lose 43 percent of its dealers

Cadillac is offering about 400 dealers in the United States a lump sum of money to close down. That represents over 40 percent of Cadillac dealers in America. Offers start at $100,000 and top out at $180,000. The average offering is around $120,000. According to Automotive News, Cadillac chief Johan De Nysschen estimates it will cost the automaker around $50 million to close these dealers. Any dealer that chooses to remain open will have to submit to Cadillac's ambitious Project Pinnacle, which will divide dealers into incentive categories based on how many units they sell. "Every single Cadillac dealer will have the potential to earn significantly higher profits than they do today," says De Nysschen. Dealers have until November 21 to decide if they want to take the cash or submit to Project Pinnacle. A logical question: Why is Cadillac willing to spend $50 million to close down 43 percent of its dealers? First, GM's luxury brand has way more dealerships than it needs. Second, the 400 dealers with offers to shutter each sold 50 or fewer vehicles in 2015, representing just 9 percent of its sales volume in America. So, while closing these smaller dealerships may have a small initial impact on sales, it's not going to be a major hit to Cadillac. Related Video: News Source: Automotive News - sub. req.Image Credit: Gary Cameron / Reuters Cadillac Car Dealers Luxury Performance