2004 Chevrolet Colorado 4 Door Crew Cab "very Rare* 2wd Z71 Suspension White on 2040-cars

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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.

GM won't pay owners of recalled cars for lost value

Kenneth Feinberg, the man in charge of the General Motors compensation fund dealing with the its widespread ignition switch woes, has issued an informal, two-letter response to the plaintiffs in more than 70 lawsuits seeking redress for lost resale value of their Cobalts: "No." The cases were recently combined into one, but Feinberg told The Detroit News that the fund will deal "only with death and physical injury claims," and that "perceived diminished value" will get no consideration.
ALG, the firm specializing in establishing residual values, determined that Cobalt owners had lost $300 compared to the segment competition and doesn't envision any long-term effects from the recall situation. Feinberg's statement comes in advance of public details on how the compensation fund will work and adheres to GM's long-held position on the matter. The company has already asked a judge to throw out such suits using the pre-bankruptcy defense, even as it stopped using that defense in cases of injury and death.
With plenty of potential gain from the GM suit, however, don't expect the plaintiffs to give up yet. When Toyota was sued for the same reason during the unintended acceleration debacle, it eventually settled the case for between $1 billion and $1.4 billion just to get it over with. Since the 85 law firms involved in the Toyota litigation took home more than $250 million of that total, we shouldn't expect the attorneys to give up on a GM payout, either.

Cadillac Celestiq, Lyriq, Hummer, other future GM electric cars: Here's everything we saw at ‘EV Day’

WARREN, Mich. — Today, General Motors held an “EV Day” event at its Warren, Michigan, campus to present its new “Ultium” battery technology, modular electric vehicle architecture and soon-to-come electric vehicles. Unfortunately, we were forbidden from bringing cameras into the event, so while we canÂ’t show you what we saw, we can tell you more about it. While we saw the previously teased Cadillac EV (which we now know to be called the Lyriq) and the GMC Hummer pickup teased during the Super Bowl, there were a number of other future cars at the event, which GM President Mark Reuss assured us are all real vehicles in the works. The biggest surprise came at the end of the event, though, in the Cadillac Celestiq electric sedan, which Reuss described as a future flagship that would be hand-built “very locally.” It had been hiding under a dark sheet all morning, with the front and rear illuminated Cadillac emblems shining from underneath. When the wraps came off, we saw a long, white, four-seat fastback sedan. The 23-inch wheels were pushed out to the very corners of the car, giving it what appeared to be a very long wheelbase. The model on the stage had no side mirrors or visible door handles. The grille mirrored that of the Lyriq crossover next to it, with integrated lighting in lieu of the usual mesh or slats youÂ’d see in an internal combustion car. The entire roof, all the way until it tapered to the tail of the vehicle, was tinted glass. In back, vertical tail lighting ran down the C-pillar before turning rearward across the top of the trunk. Inside, everything below the beltline of the windows — essentially all but the headrests and top portion of the steering wheel, was hidden from view. Behind the Celestiq, a large digital display showed a rendering of its interior. The dash consists of a pillar-to-pillar curved LED display serving as both instrument panel and infotainment system. Protruding forward between the front seats was another touchscreen that appeared to house some more controls, with open area, probably for storage, below it. The rear seats had the same sort of touchscreen between them. Built into the back of the front seats were a pair of rear-seat entertainment screens, much like we saw in the Lyriq. The door panels blended wood, metal and animated lighting to give character and a sense of opulence. GM interior design manager Tristan Murphy was on hand to tell us a bit more about the Celestiq.