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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

GM Halts Sale Of Most Chevy Cruze Models

General Motors has told dealers to stop selling some 2013 and 2014 Chevrolet Cruze compact cars. But the company won't say why. Dealers say stop-sale orders are routine and almost always made to fix a safety problem. They received the order in an e-mail Thursday, but no reason was given. The move comes as GM deals with fallout from a delayed recall of 1.6 million older small cars to fix an ignition switch problem. The company says the switches can slip out of the run position and shut down the engine. That causes loss of power steering and brakes and disables air bags. GM says the problem has been linked to 31 crashes and at least a dozen deaths. Spokesman Greg Martin says he has no details on the Cruze. Related Gallery Chevy Impala Earns Highest Accolades From Consumer Reports Recalls Chevrolet GM Cruze

Cars with the most reckless drivers are full of surprises

Insurify is a site for comparing auto insurance quotes. Because insurance shoppers need to submit information like the vehicles they're driving and the infractions they've compiled while driving those vehicles, Insurify has quite the database of correlations tying certain models to a habit of breaking certain laws. When the site's data analysts decided to compile a list of the top ten models for reckless driving citations in the decade from 2010 to 2019, the ranking contained a few wild entries. The Dodge Challenger making the countdown will surprise precisely zero people. But the Saturn L200? First, a definition: USLegal.com defines reckless driving as "driving with a willful or wanton disregard for safety. It is the operation of an automobile under such circumstances and in such a manner as to show a willful or reckless disregard of consequences." So this list is a caution about particular drivers more than the cars. For a baseline, according to Insurify data, for any random model, 15 out of 10,000 people who drive that model have picked up one citation for reckless driving. Back to that Challenger, then. No shocker for being here, but it's actually number 10, with 44 out of 10,000 Challenger drivers nabbed for a willful disregard of consequences on the road. That's better than the first surprise entry, the Saturn L200, a sedan only on sale for six years, with the least horsepower on the list, and out of production since 2005. The data set put drivers of GM's extraterrestrial sedan at 45 reckless pilots per 10,000 drivers. There are two pickups on the list, the only modern one being the Ram 1500 at eighth, with a rate of 46 in 10,000. Somehow, drivers of the third-best-selling pickup in the U.S. outrun the overwhelming numerical superiority of the best-selling vehicle in the States, the Ford F-150. The other pickup is the Chevrolet K1500 at number five, with a rate of 56 in 10,000. This is not only the oldest vehicle on the list, it went out of production in 2002, before any other vehicle on the list. Between the trucks, the Volkswagen CC slotted in at seven with 47 in 10,000 reckless driving chits, the Cadillac ATS slipped into sixth with 48 in 10,000.  The top four is a bag of unexpected. The Nissan 370Z is the first hardcore sports car on the list at number four, with 61 in 10,000 Z drivers flaunting their Fairladys in the face of Johnny Law.