2013 Chevrolet Corvette Coupe W/3lt on 2040-cars

Auto blog

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.

2020 Ford Escape hybrids vs other crossover fuel sippers: How they compare on paper

Along with a new generation of Escape, Ford also reintroduced the world to the 2020 Ford Escape Hybrid. And if that weren't enough, Ford is adding a plug-in hybrid version. This is a sign of the times: people are more crossover crazy than ever, but are also seeking ways to use less fuel, whether it's for environmental or purely money-motivated reasons. The Ford hybrids aren't the only fuel-efficient compact crossovers on the market. They will be going head-to-head with conventional hybrids including the 2019 Kia Niro, 2019 Nissan Rogue Hybrid and 2019 Toyota RAV4 Hybrid. There are other plug-in hybrids including the 2019 Subaru Crosstrek PHEV, 2019 Mitsubishi Outlander PHEV and the plug-in version of the 2019 Kia Niro. There are even a couple diesels in the form of the 2019 Chevy Equinox and 2019 GMC Terrain. So we've rounded up the details on all these crossovers to see who leads and lags in criteria such as power, fuel efficiency, space and price. Check out all their details below. 2019 Subaru Crosstrek Hybrid View 68 Photos How do their engines and fuel economy compare? Conventional Hybrids and Diesels Let's face it, if you're buying one of these crossovers, one of the things that matters most to you is just how frugal with fuel they are. We'll start off with the conventional hybrids and diesels, and the clear victor is the Kia Niro, which in base FE trim, manages to hit 50 mpg combined. This is thanks to it sharing its powertrain with the Hyundai Ioniq, the Hyundai equivalent of the Toyota Prius. Buyers should take note that only the FE returns such high fuel economy. The LX and EX drop to 49 mpg, and the S Touring and Touring get 43. Even then, the least efficient Niro is the most efficient of the normal hybrids and diesels. It is nearly the least powerful, though, with 139 horsepower. Just behind it is the Toyota RAV4 Hybrid. It delivers 40 mpg combined, and it has an ace up its sleeve: it comes standard with all-wheel drive. Every other vehicle in this powertrain group has front drive standard, and the Niro isn't available with all-wheel drive at all. If that weren't enough, the RAV4 Hybrid also boasts the most power at 219 horses. While we can't say anything about Escape Hybrid fuel economy, we do know that it will make 198 horsepower, which is close to the class-leading RAV4. The least powerful of these is the Equinox and Terrain, and they return the worst fuel economy at 32 mpg.

Recharge Wrap-up: Panasonic, Tesla on Gigafactory deal?

Bentley has been awarded the Carbon Trust Standard for reductions of carbon, water use and waste production in manufacturing. The Carbon Trust is an organization that helps groups such as businesses and governments reduce carbon emissions, use of energy and resources, and waste output. From 2011 to 2013, Bentley reduced CO2 emissions by 16 percent per car manufactured, curtailed water use by 35.7 percent, and saw significant waste reductions. Darran Messem of Carbon trust says, "Bentley is clearly passionate about continuing to improve its environmental performance, which is reflected by the fact the company has consistently invested in new technology." Read more in the press release below. Chevrolet is giving 12 Volts to MBAs Across America. The organization will use the range-extended electric cars in its efforts to help MBA students learn from and work with small business owners. As part of the MBAs Across America program's first year, four students drove 8,000 miles to provide entrepreneurs with free business counseling. The program has expanded, and this year, teams of MBAs will use the Volts to travel to 25 cities to offer their services. Learn more about the partnership between Chevrolet and MBAs Across America in the press release below. A professor from the University of Michigan has found fuel cycle analysis to be too flawed to be relied upon for measuring CO2 impacts of transportation fuels. Professor John DeCicco of the university's Energy Institute feels that the flaws in calculating the carbon footprint of liquid fuel production and combustion make such lifecycle analysis impractical. He suggests, instead, to focus to carbon capture. Since capturing CO2 directly from a vehicle is probably never going to happen, DiCicco believes the solution is to capture carbon from the atmosphere in sectors outside of transportation. Says DiCicco, "Research should be ramped up on options for increasing the rate at which CO2 is removed from the atmosphere and on programs to manage and utilize carbon fixed in the biosphere, which offers the best CO2 removal mechanism now at hand. Such strategies can complement measures that control the demand for liquid fuels by reducing travel activity, improving vehicle efficiency and shifting to non-carbon fuels." Read more at Green Car Congress. Global transportation energy consumption is expected to increase by 25.4 percent by 2035, according to a report by Navigant Research.