Year 1962 Impala Two Door Hardtop, Completely Restored From Top To Bottom on 2040-cars

Auto blog

GM profit dips on truck changeover, but beats estimates

DETROIT — General Motors on Thursday reported a higher-than-expected quarterly profit despite a drop in production of high-margin pickup trucks, as it gears up for new models that are expected to boost profits next year. Like rivals Ford and Fiat Chrysler Automobiles, GM is banking on highly-profitable Chevy Silverado and GMC Sierra pickup trucks to lift profits, as consumers shift away from traditional passenger cars in favor of these larger, more comfortable trucks, SUVs and crossovers. During the first quarter, the process of changing over to GM's new pickups resulted in a drop in production of 47,000 units. GM Chief Financial Officer Chuck Stevens said the production drop had resulted in a drop in pre-tax profit of up to $800 million. Earlier this year, GM said its 2018 profits would be flat compared with 2017, but expected its all-new pickup trucks would boost margins starting in 2019. On Thursday, GM reiterated its full-year 2018 forecast for adjusted earnings in a range from $6.30 to $6.60 per share. The automaker said capital expenditures were more than $500 million higher in the quarter because of investments its new pickup trucks and a family of low-cost vehicles under development with Chinese partner SAIC Motor Corp. On Wednesday, rival Ford said it would stop investing in most traditional passenger sedans in North America. CFO Stevens told reporters on Thursday that GM has "already indicated that we will make significantly lower investments on a go-forward basis" in sedans. 2019 GMC Sierra View 21 Photos GM benefited from a lower effective tax rate in the quarter, but adjusted pre-tax margin fell to 7.2 percent from 9.5 percent a year earlier. Stevens said the company's profit margin should hit 10 percent or higher in the second quarter and for the full year. GM said material costs were $700 million higher in the first quarter, and it expects those costs to continue rising. The automaker said it would counter those increases with cost cutting measures. "It is a more difficult environment than it was three or four months ago," Stevens said when asked about rising commodity prices from potential steel and aluminum tariffs announced by the Trump administration. "But we are confident we can continue to offset that." The company reported quarterly net income of $1.05 billion or $1.43 per share, a drop of nearly 60 percent from $2.61 billion or $1.75 per share a year earlier. Analysts had on average expected earnings per share of $1.24.

Chevy Crossvolt name kept alive in new trademark application

In April 2011 General Motors submitted a trademark application with the US Patent and Trademark Office for the word "Crossvolt." In November of this year, the application expired for lack of a statement of use. But in August of this year, GM applied again for the same trademark, leading some to believe that it intends to apply the name to a vehicle. That vehicle could explain the mule in sliced-and-diced Chevrolet Orlando bodywork caught in several spy shots this year, theorized to be some kind of Toyota Prius V or Ford C-Max Hybrid competitor; or it could be a production version of the Chevrolet Volt MP5 concept showed off at the Beijing Motor Show in 2010, which was about the same size as the Chevy Orlando. Or it could be none of those things – but the fact that Chevrolet is keeping it current makes us believe it will be... something. Featured Gallery Beijing 2010: Chevrolet Volt MPV5 concept View 13 Photos News Source: Fox News, Trademarkia Green Chevrolet GM Crossover Hybrid trademark uspto

Chevy Spark EV could be coming to Midwest later this year

Ohio is not known as a hotbed of EV sales – if anything, the state is a bit anti-EV, thanks to a legislative fight against Tesla's direct sales model – but it might be on Chevrolet's short list to expand the market for the Spark EV in the near future. The latest official GM press release on the battery-powered Spark still says the car is "available exclusively in California and Oregon," but Hybrid Cars found four Ohio dealerships that list a Spark EV on their websites, with hints the the car will be coming to the Midwest state by the end of the summer. See, for example, here, here, here and here. But that's probably not going to happen, according to Randy Fox, GM communication's manager for passenger cars. Fox told AutoblogGreen that, "At this point in time, we don't have any official plans to expand the Spark EV beyond California and Oregon." The reason is that California and Oregon have the infrastructure to support EVs, Fox said, and GM wants to be able to support its EV customers. "We are continuing to look at other options," he said. "The selling point for electric cars today is not advertising, it's eyeballs, it's peer exposure" – John O'Dell John O'Dell, a senior editor at Edmunds.com, told AutoblogGreen that, "It makes sense for [GM] to expand sales and it makes sense to do it in a quiet manner, to get these vehicles on the road. The selling point for electric cars today is not advertising, it's eyeballs, it's peer exposure. If someone in my neighborhood has one and he likes it, then maybe I can trust him. So it's important to get these vehicles on the road." Chevy sold 182 Spark EVs last month, a significant increase over the 98 sold in April. That's still small potatoes compared to the 3,000+ Nissan Leaf EVs sold last month, but making the electric Spark available in Ohio, say, or GM's home state of Michigan could boost those numbers. AutoblogGreen called a few dealerships in Michigan to see what they had heard. One salesman said he didn't think GM had started production yet but the inventory manager for another dealership said the Spark EV is scheduled to arrive in the Midwest in "roughly the fourth quarter." What would GM's incentive be to offer the car in markets outside of California where it can gain ZEV credits with each sale?