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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

Chevy to resume engine-building program for 2015 Corvette Z06

One of Chevrolet's most popular and unique customer features is set to return for 2015, as the company has announced that the Engine Build Experience is back. Interested owners will be able to screw together their engines beginning in March. The $5,000 option (which does not include the cost of travel) will give future owners of the 2015 Corvette Z06 the chance to screw together their car's actual 6.2-liter, supercharged V8. Available on each of the Z06's three trims, the Engine Build Experience includes a day at the Performance Build Center, instruction from an engine assembly tech, photographs of the experience and a personalized engine plaque. Once the build process is completed, the engine will (eventually) be fitted under the hood of the customer's personal Z06. "Chevrolet recognizes the passion customers have for Corvette and the Engine Build Experience offers them a truly unique opportunity for hands-on involvement in the creation of the heart of their new car," Corvette product manager Harlan Charles. "It's important for customers to understand their engine won't be installed the day after they built it. It will flow into the scheduling process for vehicle assembly, which depends on a number of logistical variables." Scroll down for the official announcement of the Z06's Engine Build Experience, available below. Exclusive Corvette Engine Build Experience Returns Program renewed for supercharged LT4 engine at new Bowling Green build center 2015-01-07 BOWLING GREEN, Ky. – Chevrolet announced today it is resuming the exclusive Engine Build Experience for Corvette Z06 customers – the only program of its kind for supercar customers. Starting in March 2015, Corvette Z06 customers will be able to assemble the 650-hp supercharged LT4 engine for their cars at the new Performance Build Center inside the Bowling Green Assembly Plant. "Chevrolet recognizes the passion customers have for Corvette and the Engine Build Experience offers them a truly unique opportunity for hands-on involvement in the creation of the heart of their new car," said Harlan Charles, Corvette product manager. "It's a chance to bond with their new car." The Engine Build Experience is selected with order code PBC and is offered on all Z06 trim levels.

Chevy Colorado gets box delete option designed for upfitters

The Colorado, which marks the return of Chevrolet to the midsize truck segment, is receiving critical praise, and now it's time for the pickup to get to work. At the National Truck Equipment Association Work Truck Show in Indianapolis, IN, Chevy is unveiling a box delete option package for the model that allows businesses to custom tailor the Colorado to their needs. The choice to remove the bed is exclusively available on the Colorado Work Truck trim in the rear-wheel drive, extended cab model with a 305-horsepower, 3.6-liter V6 and six-speed automatic gearbox, and Chevy claims this is the only option of its type in the segment. Beyond the obvious loss of the rear, these trucks feature eight mounting points on the frame for upfitters to install any necessary modifications. They also get the Z82 trailering package and a locking differential. The versions with the box delete package carry a payload rating of 2,200 pounds an a gross vehicle weight rating of 6,001 pounds. "It's ideal for utility companies requiring service bodies, as well as landscapers and other businesses needing the utility of a flatbed," Ed Peper, US Vice President for General Motors Fleet and Commerical, said in the option's announcement. Further options with the package are limited to choosing a repositioned fuel filler for the upfitter to install and deleting the rear seat for extra interior capacity. The box delete becomes available in mid-April, and buyers get a $300 credit off the price of the Colorado when it's selected. Colorado 'Box Delete' Expands Options for Businesses Chevrolet package offers unique midsize pickup platform for alternative uses 2015-03-04 INDIANAPOLIS – With a box delete option, business owners and fleet managers can have it their way when it comes to customizing the back end of the 2015 Chevrolet Colorado. Chevrolet today announced availability of the package in mid-April. It is on display this week at the annual National Truck Equipment Association Work Truck Show in Indianapolis. It is the only such option offered in the midsize truck segment. "With the segment-leading efficiency and maneuverable size, the Colorado makes a great, flexible choice for urban businesses and fleets to make the most of a midsize truck," said Ed Peper, U.S. vice president, GM Fleet & Commercial.