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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

'84 MotorWeek Cherokee, Bronco and Blazer comparison indulges your SUV nostalgia

These days, truck-based, full-frame SUVs are somewhat of a rarity on the auto landscape due to the rapid rise in popularity of easier-driving, car-based crossovers. Although, without the gradually building popularity of these chunky, high-riding vehicles decades ago, it's unlikely that America's roads would be filled with so many CUVs today. In its latest dig into the archives, MotorWeek has found a 1984 comparison test of a trio of these early Sport Utility Wagons, as long-time host John Davis called them, that helped get acceptance of this segment going. This is a red, white and blue test of the SUVs from American automakers at the time and pits the Chevrolet Blazer, Ford Bronco and Jeep Cherokee (specifically in Wagoneer guise) against each other. Driving manners and interior usability are considered in the evaluation, but Motorweek actually takes these vehicles off road, too. Among the bigger revelations is the improvement in on-road ability in the past 30 years. While specific 0-60 times aren't given, all three models take around 10 seconds just to get to around 50 miles per hour in the 500-feet on-ramp acceleration test. Check out this clip to see just how far this segment has progressed in the past three decades or just get a blast of nostalgia from these now vintage models. News Source: MotorWeek via YouTube Chevrolet Ford Jeep SUV Off-Road Vehicles Classics Videos Ford Bronco chevy blazer

Chevy Corvette gets Valet Mode with Performance Data Recorder [w/video]

For the 2015-model-year, Chevrolet introduces Valet Mode for the Corvette, an enhancement to the Performance Data Recorder (PDR) already available and to your peace of mind. The PDR already captures 720p HD video with a windshield-mounted camera, records interior audio with a cabin microphone and gathers telemetry data using GPS, saving the data to an SD card in the glovebox. You can then watch your track-day antics with various information overlays on the center console screen.
Valet Mode will let you hit 'Replay' when your car gets pulled up front smelling vaguely of fricasseed clutch. Turned on by entering a four-digit code, it also locks the interior storage spaces and turns off the infotainment system. It can't be turned off until the code is re-entered. There's a press release below with more information as well as a video that explains how it works, with the obligatory dig at the 'Vette's biggest foe.