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GM moving international sales HQ to Singapore from Shanghai

General Motors has announced that it will be moving its international headquarters from Shanghai to Singapore, a move that will see 120 employees working from the city-state by the time business opens in 2014. Meanwhile, 250 to 300 of the employees at the Shanghai office will remain in China, according to a report from The Wall Street Journal.
The shuffle is part of a bigger reorganization that will see GM isolate its operations in the People's Republic from its broader international efforts. This sort of divide-and-conquer strategy will allow GM to still react to emerging markets while, according to the WSJ, providing a dedicated management team for the Chinese market. The team in Singapore will be responsible for operations in Africa, southeast Asia, Australia, India, South Korea and the Middle East, on top of managing Chevrolet and Cadillac in Europe, according to a statement from GM.
The shift to Singapore "will help us to create a renewed identity for CIO (Consolidated International Operations) and lead GM's umbrella strategy for the region," said GM Executive Vice President of CIO, Stefan Jacoby.

Cadillac ELR update delayed over autonomous drive systems issues

Rumors had been circulating that the 2016 Cadillac ELR would bow in Los Angeles recently, featuring, in Cadillac's own words, "engineering enhancements." The rumors and that quote are as far as it got – the updated ELR pulled a no-show in LA, and no one outside of the brand appears to know when it will appear. GM Inside News says its sources at Cadillac pinned the ELR's absence on some autonomous driving features not being ready to reveal. According to GMI, Cadillac insiders say the upgraded ELR will be a "highly autonomous vehicle," and the company needs more time to gets its systems polished. The site says "it's not unreasonable to assume that ELR will be [the] vehicle" that gets Cadillac's Super Cruise technology, but that seems a lot more involved than "engineering enhancements," and in September Cadillac said we'd see it sometime in the next two years. It's possible the wait for the 2016 ELR and its secrets might only be a couple of months: the next-generation Chevrolet Volt, which shares a platform with the ELR and whose engineering updates we know quite a bit about, is scheduled to appear at the 2015 Detroit Auto Show in January.

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.