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GM sees 'strong year' in 2018, then gold in Chevy Silverado for 2019

DETROIT — General Motors said on Tuesday it expects earnings in 2018 to be largely flat compared with 2017, but that profits should pick up pace in 2019 as its revamped line of high-margin pickup trucks hits the U.S. market. The 2018 earnings outlook was above market expectations, sending GM shares up more than 3 percent in premarket trading. "GM had a very good 2017 as we continued to transform our company to be more focused, resilient and profitable," GM Chief Executive Mary Barra said in a statement. "We are positioned for another strong year in 2018 and an even better one in 2019." GM and its Detroit rivals, Ford and Fiat Chrysler Automobiles, are bringing on new trucks at a time when overall U.S. new vehicle sales have been falling, but truck sales continue to grow as consumers abandon passenger cars in favor of pickups, SUVs and crossovers. GM on Saturday fired a new round in the battle for profits from one of the U.S. auto industry's most lucrative segments when it showed a new generation of its Chevrolet Silverado pickup truck at the Detroit auto show. The new Silverado, a highlight of the event, is the successor to GM's best-selling vehicle in North America. Sales of the current Silverado rose nearly 2 percent to 585,000 vehicles in 2017. In the coming months, the company will also reveal a revamped GMC Sierra pickup truck. U.S. new vehicle sales fell 2 percent in 2017 after hitting a record high in 2016, and are expected to drop further in 2018 as interest rates rise and more late-model used cars return to dealer lots to compete with new ones. GM said on Tuesday that while it retools a factory in Ft. Wayne, Indiana, to make the new pickup trucks, it will shift some production to an Oshawa, Ontario, plant in order to avoid missing sales in a hot market for the vehicles. The No. 1 U.S. automaker said it will record a $7 billion non-cash charge for its fourth-quarter 2017 earnings related to deferred tax assets. GM said it expects capital expenditure in 2018 of around $8.5 billion, about $1 billion of which will go toward funding self-driving car technology. Last week, the company said it is seeking U.S. government approval for a fully autonomous car — one without a steering wheel, brake pedal or accelerator pedal — to enter the automaker's first commercial ride-sharing fleet in 2019. GM said it expects 2017 earnings per share at the high end of its previously forecast range of $6 to $6.50.

Junkyard Gem: 1987 Chevrolet Turbo Sprint

Fifteen years ago, I wrote my first-ever automotive article under the name Murilee Martin, and it didn't take me long to start writing about one of my favorite automotive subjects: the junkyard. Before I'd refined my system for documenting discarded vehicles, however, I shot a lot of boneyard photos that never got used. For today's Junkyard Gem, I have four shots from early 2007 of one of the rarest turbocharged machines of the 1980s: the Chevrolet Turbo Sprint. The Chevrolet Sprint was really a rebadged Suzuki Cultus, from the pre-Geo era when General Motors sold the Isuzu Gemini as the Chevrolet Spectrum, the Daewoo LeMans as the Pontiac LeMans and the Toyota Corolla as the Chevrolet Nova (soon enough, the Spectrum became a Geo, and the Nova became the Prizm). The second-generation Cultus appeared in 1988, becoming the Geo Metro on our shores the following year. The Turbo Sprint was available for just the last two years of the Sprint's 1985-1988 American sales run, and it appears that just a couple of thousand were sold; if I'd known at the time just how rare they were, I'd have shot more photos of this one at the now-defunct Hayward Pick Your Part. The turbocharged 993cc three-cylinder produced 70 horsepower, 22 better than the naturally-aspirated version. Since the Turbo Sprint weighed just 1,620 pounds (that's about 500 pounds lighter than a barely more powerful '22 Mitsusbishi Mirage), it was plenty of fun to drive. For 1988, the regular Sprint hatchback cost $6,380 while the Turbo Sprint listed at $8,240 (that's about $15,375 and $19,855 today, respectively). Believe it or not, a Turbo Sprint actually raced in the 24 Hours of Lemons 10 years ago, though it didn't end well. This ad is for the regular Cultus, not the Cultus Turbo, but the screaming guitars sound reasonably turbocharged. For the most part, Chevy Sprint marketing was all about cheap purchase price and stingy fuel economy… at a time when gasoline prices were cratering. Related Video:

Chevy gets cracking on Cruze EV fleet testing

Chevrolet Cruze EV - Click above for high-res image gallery
The Chevrolet Volt hasn't yet gone on sale, but General Motors is looking at ways of expanding its electric vehicle lineup. Chevy, along with partner LG, is employing a group of all-electric cars in the form of the Cruze. The sedans are part of a demonstration fleet which is located in Seoul, South Korea and is being used to provide data in an electric vehicle research project. The goal is to gather information on driving patterns and charging behavior in addition to consumer acceptance.
The Cruze EVs, along with some Daewoo Lacetti Premieres EVs, are the first fleet of full-size electric vehicles and should provide invaluable information for The General. Staying full-size means not sacrificing cargo space, so the battery pack is mounted to the underbody, leaving the trunk area open for plenty recyclable, canvas grocery bags.