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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.

2017 Chevy Bolt EV arrives in late 2016 with 200-mile range

For those keeping track, the production 2017 Chevy Bolt that was just revealed at CES in Las Vegas is, well, pretty much just what we were expecting. As promised, GM claims the EV crossover-ish hatch will have a 200-mile range, and be "affordable." While pricing hasn't been announced, we've posited in the past that "affordable" is code for around $30,000 after incentives. The Bolt will use a couple of features, both novel and expected, to enhance range. The EV is expected to use information on the owner's driving history, the weather outside, the terrain, and even the time of day to help manage and predict range. The nav system will optimize routes to conserve range, if needed, and show nearby charging stations. That should ease, if not eliminate, range anxiety. Another range-conserving feature is a low-draw Bluetooth system. Speaking of charging stations, there's no word so far about how long it'll take to recharge a Bolt, or the capacity of the battery pack. Inside, the large center-mounted MyLink screen measures a full 10.2 inches, and provides a display for the wide-angle rear camera with a birds-eye view capability. OnStar provides 4G LTE and a wifi hotspot to occupants, and the sorts of efficiency and driving habit apps you'd expect will be available. It seems like remote start and cabin preconditioning will be standard. Interestingly, the Bolt will feature "Gamification" features intended to promote efficient driving by pitting Bolt drivers against each other for green driving awards or rankings. Details on are sparse on this feature, but then again, information on the Bolt in general is a little sparse right now. If you want to know things like detailed specs, the specifics of chassis componentry, or even trims and options, you'll have to wait. Check out our first quick spin of a prototype Bolt in Las Vegas for a preview of what GM's EV is like on the road. Chevrolet Introduces 2017 Bolt EV First long-range, affordable EV with customer-focused connectivity LAS VEGAS – Chevrolet is introducing the 2017 Bolt EV at the Consumer Electronics Show, fulfilling its promise to offer a long-range, affordable electric vehicle for the masses. The Bolt EV, which will go into production by the end of 2016, will offer more than 200 miles of range on a full charge. It also features advanced connectivity technologies designed to enhance and personalize the driving experience.

The Jitterbugs somersaulted at the 1986 Chicago Auto Show for the Chevy Nova

Judging by the vintage videos that the Chicago Auto Show has been uploading, if you wanted to check out the latest vehicles and watch some dancers in the same place in the late '80s and early '90s, then the Windy City event was definitely the place to be. We've already seen the Footlockers pitching the Cavalier in '88 and a troupe of women singing about the Geo brand in '91. Apparently, the trend went back even further, though. Just take a look at this group called the Jitterbugs selling some badge-engineered products from Chevrolet at the 1986 show. Flanked by the Chevy Nova and Spectrum, these guys managed to do a few pretty impressive jumps and somersaults but mixed them with some rather uninspired spins, as well. Also, wait for 1:24 into the clip to see the least enthusiastic backup dancers that the world has ever known. The Jitterbugs are even further proof that Chevy's habit of mixing dancing and its vehicles goes back even further than the Volt. News Source: ChicagoAutoShow via YouTube Auto News Marketing/Advertising Chicago Auto Show Chevrolet Videos Chicago chevy nova