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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.

GMC Terrain Nightfall Edition is murdered-out for the masses

We've lost track of how many special edition Chevrolet Silverado and GMC Sierra pickups there have been over the past few years. But while some special editions can be kitschy, there's nothing overtly bad about the GMC's Nightfall line. We've already seen the blacked-out look on Canyon Nightfall and Sierra All Terrain X pickups, and now, it's being applied to the Terrain. As with the trucks, the Terrain Nightfall's changes are simple: the chrome-heavy finish is replaced with gloss-black accents where applicable. That's what you'll find on the grille surround, the front and rear fascia accents, the license-plate surround, mirror caps, and roof rack. Like Jay Z said, all black everything. Except for the wheels, of course – those have machined faces with black spokes. The grille inserts aren't strictly black either (they're charcoal), and as counterintuitive as it may seem, owners can choose from three body paints in addition to Onyx Black (Summit White, Graphite Gray, and Crimson Red). The Terrain Nightfall Edition will be offered on the SLE-2 and SLT trims, with prices to be announced closer to its fall 2016 on-sale date. GMC Introduces 2017 Terrain Nightfall Edition The News Ahead of its debut at the New York International Auto Show, GMC today introduced the 2017 GMC Terrain Nightfall Edition – a stylized special edition combining blacked-out exterior details and wheels, with popular technologies such as IntelliLink with available 4G LTE connectivity and Wi-Fi hotspot. It joins the Canyon Nightfall Edition and the all-new Sierra All Terrain X as the latest GMC vehicle to offer an exclusive, personalized appearance with the Terrain's premium features and refinement. Product Details The Terrain Nightfall offers an edgy appearance with 18-inch machine-faced aluminum wheels and gloss black spokes, a charcoal grill with a gloss black surround and accents, gloss black front and rear fascia accents, gloss black rear license plate surround trim, gloss black outside mirrors and black luggage rails. Terrain Nightfall Edition will be offered on SLE-2 and SLT models with four exterior color options: Summit White, Onyx Black, Graphite Gray Metallic and Crimson Red Metallic. On Sale Fall 2016 Quotable "Building on its best year ever, Terrain continues to attract new and style-conscious customers to GMC," said Duncan Aldred, vice president of GMC Sales and Marketing.

GM diesel pickups first to undergo extra EPA, CARB testing

The effects of Volkswagen's long-running diesel emissions evasion are starting to spill over to other automakers, but General Motors is taking things in stride. The 2.8-liter, four-cylinder Duramax in the 2016 Chevrolet Colorado and GMC Canyon is the first engine to get extra scrutiny by the Environmental Protection Agency and the California Air Resources Board, Automotive News reports. Rather than just the usual in-lab test, it's also being checked on the road. However, the extra evaluation shouldn't have any impact on when the trucks with his mill hit dealers later this fall. "We're in our final stages of the EPA certification, and our launch is on track," Chevy spokesperson Otie McKinley tells Autoblog. The four-cylinder diesel in the trucks makes 181 horsepower and 369 pound-feet of torque, and the automaker is touting low NOx production. In the announcement for the Colorado's specs, the company calls it "the cleanest diesel truck engine ever produced by General Motors." The tech includes exhaust gas recirculation to lower combustion temperatures and improve emissions. There's also a urea tank like on the bigger diesels for full-size trucks, and it gets refilled in time with oil changes. An indication on the instrument panel lets drivers know when that's needed, too. Even with the more demanding testing, the company doesn't seem too worried about the four-cylinder passing. "Part of our development process is on-road and off-road [laboratory] testing," Scott Yackley, Chevy Trucks assistant chief engineer, said to Automotive News. In the wake of the VW scandal, the EPA has pledged more rigorous testing. Before, on-road emissions evaluations were largely limited to heavy-duty vehicles, but the agency has decided to apply the checks more often to other models. There's also now greater cooperation with Canadian authorities.