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GM posts $4 billion third-quarter profit thanks to trucks and SUVs

DETROIT — General Motors is posting huge third quarter numbers, pulling in $4 billion in profit over three months after losing money due to the virus outbreak. GM's adjusted earnings were $2.83 per share, easily outpacing Wall Street's per-share projections of $1.43, according to a survey by FactSet. Revenue of $35.5 billion also edged out most expectations. Shares jumped almost 6% before the opening bell Thursday. The company swung back from a $806 million loss in the second quarter, when it was restarting factories shuttered for safety during the early stages of the pandemic. The Detroit automaker joined most global automakers in reporting better-than-expected earnings from July through September as sales across the globe started to rebound from coronavirus lockdowns, especially in China. GM sales in China jumped 12% in the third quarter, with sales of its Buick and Cadillac brands both rising more than 25%. In the U.S., GMÂ’s most profitable market, sales fell 9.9% in the third quarter compared with a year ago, but were a dramatic improvement over the 34% drop in the second quarter. Sales improved sequentially each month, the automaker said, an encouraging trend. GMÂ’s profit was boosted by higher-priced pickup trucks and large SUVs, which have seen strong sales in the U.S. through the pandemic. It was the best quarter on record for GM's Chevrolet Blazer. Sales of the Cadillac XT6 spiked 45% in the U.S. over last year. Large pickups also sold well. GM also said it was pumping $2 billion into its Spring Hill, Tennessee manufacturing plant to push its transition to produce electric vehicles. Last week, crosstown rivals Fiat Chrysler and Ford reported strong third-quarter net income. FCA said it made $1.4 billion for the period, while Ford earned $2.39 billion. Related Video: Earnings/Financials Buick Cadillac Chevrolet GM GMC

Artist imagines eerie world where cars have no wheels

The wheel ranks right up there with the telescope and four-slice toaster in the pantheon of inventions that have moved humankind forward. But what if a circle in three dimensions had never occurred to anyone, and we all had just moved on without it? Perhaps we'd be driving around in Lucas Motors Landspeeders with anti-gravity engines. Or maybe we'd have the same cars we do today, just without wheels.
That's the thought experiment that seems to have led French photographer Renaud Marion to create his six-image series called Air Drive. The shots depict cars throughout many eras of motoring that look normal except for one thing: they have no wheels. The models used include a Jaguar XK120, Cadillac DeVille (shown above), Chevrolet El Camino and Camaro, and Mercedes-Benz SL and 300 roadsters.
Perhaps one day when our future becomes our past, you'll be able to walk the street and see with your own eyes the rust and patina of age on our nation's fleet of floating cars. Until then, Monsieur Marion's photographs will have to do.

Chevy might've pulled out of NASCAR if it weren't for new Gen 6 car

We've been on the fence with NASCAR for some time now. On one hand, it's some of the closest racing anywhere in motorsports, with actual passing and door-handle-to-door-handle action as a matter of course. But on the other, it's become template racing - a personality-driven sport more about the drivers than any sort of loyalty to a particular automaker. The Car Of Tomorrow format really rammed that message home, with a racecar's identity coming down to little more than headlamp stickers slapped on the nose. That's not necessarily a bad thing in and of itself, but we've wondered for some time what's in it for the automakers, who pay big money to stay in a series that has had little increasingly little do with street car sales, let alone innovation.
Apparently General Motors was beginning to wonder the same thing. In a new ESPN report, Rick Hendrick, team owner of Hendrick Motorsports, suggests that GM would have seriously considered leaving NASCAR if it wasn't for the move away from the COT to the new Gen 6 racer. According to Hendrick, GM North America boss Mark Reuss spearheaded the charge away from the 2007 COT and toward a racecar with clearer automaker ties - cars like the new Chevrolet SS racer shown above. Learn more about the fight for a closer-to-production look in the ESPN story at the link.
Now, if we could just get more rear-wheel drive V8 coupes into showrooms....