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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.

2016 Cadillac CT6 to get an aluminum body?

Well this is interesting: A hot-off-the-press report in Automobile claims the coming Cadillac CT6 will have an aluminum body. Most write-ups on the CT6 claim it will have a body that's a combination of aluminum and high-strength steel - Automobile itself wrote of "high-strength steel, aluminum, and steel stampings" in October. An all-aluminum body would be quite the reversal, contradicting the last four months of reportage and company statements on the matter. Mark Reuss, EVP of global development at General Motors, told The Detroit News in October, "We will create with the CT6, the world's most advanced body structure... [and] it's not aluminum. It's a stronger, smarter, safer premium luxury vehicle." It echoed the earlier Automobile story in saying the CT6 would use GM's "patented welding technology with high-strength steel, aluminum and steel stampings and castings." That same month, the Wall Street Journal ran a piece titled, "GM Won't Follow Aluminum Strategy in Future Cars," in which Reuss said, "making big statements around all carbon fiber, all aluminum, all magnesium, they're very interesting," and that GM wouldn't be doing it. That piece also circled back to a material mix and GM's special welding process, saying the CT6 "will have a body made of aluminum, high-strength steel and other materials, and will be 100 kilograms (220 pounds) lighter than a similar-sized car made of high-strength steel." We don't know what kind of body Cadillac's new assault on luxury is going to wear, but now we can't wait to find out. Featured Gallery Cadillac Elmiraj Sedan: Spy Shots View 22 Photos News Source: AutomobileImage Credit: Chris Doane Automotive Cadillac GM Luxury Sedan aluminum cadillac ct6

Cadillac to bolster CT sedans with XT crossovers

Cadillac is moving swiftly to change up its naming scheme. Barely over a week ago we received our first indication that it was considering a different name its the upcoming flagship sedan previously known as LTS. Then Cadillac not only revealed the model would be called CT6, but announced that it would set the stage with a massive overhaul of its model nomenclature. And now we have another piece of the puzzle.
According to Forbes, Cadillac will not only rename its sedans with the letters CT, but will realign its utility vehicles under the banner of XT - both to be followed by a number indicating its place in the lineup. The one exception will be the Escalade, whose nameplate has such a strong following that it would be foolish for Cadillac to cast it aside. That leaves only the SRX (pictured above), but makes room for a new crop of crossovers said to be in the works.
It's a similar approach which Cadillac's new boss Johan de Nysschen took in revising the naming scheme at Infiniti. While it's bound to ruffle some feathers and scratch some heads in the beginning - especially since the company's current flagship sedan is called XTS - it's equally sure to make sense of it all in the long run. All we need to know now is what Nysschen and his marketing chief Uwe Ellinghaus plan to call the coupes.