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GM profit dips on truck changeover, but beats estimates

DETROIT — General Motors on Thursday reported a higher-than-expected quarterly profit despite a drop in production of high-margin pickup trucks, as it gears up for new models that are expected to boost profits next year. Like rivals Ford and Fiat Chrysler Automobiles, GM is banking on highly-profitable Chevy Silverado and GMC Sierra pickup trucks to lift profits, as consumers shift away from traditional passenger cars in favor of these larger, more comfortable trucks, SUVs and crossovers. During the first quarter, the process of changing over to GM's new pickups resulted in a drop in production of 47,000 units. GM Chief Financial Officer Chuck Stevens said the production drop had resulted in a drop in pre-tax profit of up to $800 million. Earlier this year, GM said its 2018 profits would be flat compared with 2017, but expected its all-new pickup trucks would boost margins starting in 2019. On Thursday, GM reiterated its full-year 2018 forecast for adjusted earnings in a range from $6.30 to $6.60 per share. The automaker said capital expenditures were more than $500 million higher in the quarter because of investments its new pickup trucks and a family of low-cost vehicles under development with Chinese partner SAIC Motor Corp. On Wednesday, rival Ford said it would stop investing in most traditional passenger sedans in North America. CFO Stevens told reporters on Thursday that GM has "already indicated that we will make significantly lower investments on a go-forward basis" in sedans. 2019 GMC Sierra View 21 Photos GM benefited from a lower effective tax rate in the quarter, but adjusted pre-tax margin fell to 7.2 percent from 9.5 percent a year earlier. Stevens said the company's profit margin should hit 10 percent or higher in the second quarter and for the full year. GM said material costs were $700 million higher in the first quarter, and it expects those costs to continue rising. The automaker said it would counter those increases with cost cutting measures. "It is a more difficult environment than it was three or four months ago," Stevens said when asked about rising commodity prices from potential steel and aluminum tariffs announced by the Trump administration. "But we are confident we can continue to offset that." The company reported quarterly net income of $1.05 billion or $1.43 per share, a drop of nearly 60 percent from $2.61 billion or $1.75 per share a year earlier. Analysts had on average expected earnings per share of $1.24.

Best car infotainment systems: From UConnect to MBUX, these are our favorites

Declaring one infotainment system the best over any other is an inherently subjective matter. You can look at quantitative testing for things like input response time and various screen load times, but ask a room full of people that have tried all car infotainment systems what their favorite is, and you’re likely to get a lot of different responses. For the most part, the various infotainment systems available all share a similar purpose. They aim to help the driver get where they're going with navigation, play their favorite tunes via all sorts of media playback options and allow folks to stay connected with others via phone connectivity. Of course, most go way beyond the basics these days and offer features like streaming services, in-car performance data and much more. Unique features are aplenty when you start diving through menus, but how they go about their most important tasks vary widely. Some of our editors prefer systems that are exclusively touch-based and chock full of boundary-pushing features. Others may prefer a back-to-basics non-touch system that is navigable via a scroll wheel. You can compare it to the phone operating system wars. Just like some prefer Android phones over iPhones, we all have our own opinions for what makes up the best infotainment interface. All that said, our combined experience tells us that a number of infotainment systems are at least better than the rest. WeÂ’ve narrowed it down to five total systems in their own subcategories that stand out to us. Read on below to see our picks, and feel free to make your own arguments in the comments. Best infotainment overall: UConnect 5, various Stellantis products Ram 1500 Uconnect Infotainment System Review If thereÂ’s one infotainment system that all of us agree is excellent, itÂ’s UConnect. It has numerous qualities that make it great, but above all else, UConnect is simple and straightforward to use. Ease of operation is one of the most (if not the single most) vital parts of any infotainment system interface. If youÂ’re expected to be able to tap away on a touchscreen while driving and still pay attention to the road, a complex infotainment system is going to remove your attention from the number one task at hand: driving. UConnect uses a simple interface that puts all of your key functions in a clearly-represented row on the bottom of the screen. Tap any of them, and it instantly pulls up that menu.

Autoblog Minute: VW finds CO2 'irregularities', Takata dropped by automakers, SEMA recap

Volkswagen's diesel emissions scandal gets a new wrinkle, US regulators hit Takata Corporation with a substantial fine, and we head to Las Vegas for a look at tuner paradise at the 2015 SEMA show. Autoblog senior editor Greg Migliore reports on this edition of Autoblog Minute Weekly Recap. Show full video transcript text [00:00:00] Volkswagen's diesel emissions scandal gets a new wrinkle. US regulators issue a significant fine to Takata Corporation. And we take a peek inside tuner paradise at the 2015 SEMA show. I'm senior editor Greg Migliore and this is your Autoblog Minute Weekly Recap. The VW diesel emissions scandal, first brought to light in September, gets a new wrinkle, as an internal investigation by the German automaker revealed [00:00:30] irregularities in CO2 emissions that could affect approximately 800,000 vehicles. VW estimates the issue could pose a 2-billion euro economic risk. VW claims that most of the vehicles affected have diesel engines, but industry analysts say a 1.4-liter gas engine is also affected. VW says that fuel consumption figures were set too low during the CO2 certification process. During all of this, sales of some diesel-powered Volkswagen, Audi, and Porsche models [00:01:00] have been halted. Takata Corporation is back in the news in connection with its deadly airbag scandal. Federal regulators fined Takata $70 million. If the parts supplier does not comply, the fine could balloon to $200 million. Takata was also dropped this week by its biggest customer, Honda. And now, Toyota and Mazda will be following Honda's lead in dropping Takata. We're also hearing that Mitsubishi and Subaru are considering a switch in air-bag inflator suppliers. SEMA 2015 [00:01:30] came and went. We saw offerings from Mopar, like the AWD Challenger concept. Honda unveiled a Ridgeline that it will race at the Baja 1000, which gives us a hint at what future production model could look like. The celebrity presence was also felt in Vegas as it always is. Kid Rock brought a Duramax Diesel Chevy Silverado, and Acura restored and presented Ludacris with his now famous 1993 Acura Legend. Those are the highlights from the week that was. Be sure to come back on Saturday for my full recap, [00:02:00] where I'll have some added insight into Hyundai's foray into the luxury sector. For Autoblog, I'm Greg Migliore. Autoblog Minute is a short-form video news series reporting on all things automotive.