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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.

Gimp Pimp and Aqua Volvo at 24 Hours of LeMons | Car Club USA

Car Club USA heads to Sonoma, CA where the Gimp Pimp Cadillac and Aqua Volvo will take on all the crazy, sub-$500 competition at the 24 Hours of LeMons endurance race. "Over the last 30 years, car racing has gotten extremely serious and extremely expensive and it just seemed like there was a real need to make it accessible again," said LeMons founder Jay Lamm. The result is a series of endurance races across the US and Australia where all you need to join the fun is a junky car and some basic safety equipment. "It's just fun, compared to pro racing," said Wendy Epstein, driver of a 1979 Volvo 242 in bright "Aqua Volvo" livery. "24 Hours of LeMons is a form of racing that is designed to be cheap and easy, and anybody can do it," said Bill Manfroy, driver of the Gimp Pimp, a 1996 Cadillac SLS with some important modifications. "Part of what makes the Gimp Pimp Cadillac so special is that it does have hand controls, so it gives access to people like me that ordinarily get to race." "Which makes it perfect for LeMons." Each Car Club USA episode features a different car club or event from across the US, where passionate owner communities gather to share automotive experiences and embark on incredible adventures. From Main Street cruises to off-road trails, catch all the latest car club activity on Autoblog. Motorsports Weird Car News Cadillac Volvo Driving Racing Vehicles Car Club USA Videos Original Video viral video

Cadillac welcomes back Entourage favorite Ari Gold

With publicity for the long-awaited Entourage movie ramping up, we're finding that one of the stars of the film happens to be the handsome Cadillac Ciel Concept convertible. It makes a number of appearances in the trailers with Vince, E, Turtle, and Johnny Drama cruising about, despite the fact that it isn't actually a production vehicle. We guess it pays to be Aquaman and Enzo Ferrari. Supporting its tie-in with the flim, Cadillac has enlisted Jeremy Piven, famed for his roll as outrageous, obnoxious, abrasive, and amusing talent agent Ari Gold, to star alongside its droptop sedan. The pair are the focus of a four-minute featurette welcoming the actor's character back while expounding on the series-ending cliffhanger that basically made the movie a sure thing. Take a look at the spot, which was directed and written by Entourage creator Doug Ellin. And be sure to check out the brotastic HBO series when it makes the jump to the big screen on June 3.