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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

Leveling kit now available for Chevy Colorado, but not yet for GMC Canyon

In various bits of news this year concerning the Chevrolet Colorado and GMC Canyon pickups, we kept hearing about a front leveling kit. GM Authority found a few details in early order guides in January. In February, the kit came up in relation to the Canyon's AT4 Off-Road Performance Package, and again with AEV's upgraded Colorado Bison. After three months of waiting, GMA has more info. The kit eliminates the trucks' raked stance by raising the front by one inch, using an electro-coated upper spacer and a polyurethane lower spacer in order to maintain the proper suspension geometry. Installation is a bolt-on job with low-profile nuts, but the task will require a spring compressor. Fitted properly, the kit doesn't void GM's new vehicle warranty on the Colorado. Why do we only mention the Colorado? Because for some reason, the kit isn't available for the Canyon yet as a standalone component; the GMC stays raked without one of the aforementioned option packages. For Chevy, the leveling kit is compatible with any trim in four-wheel drive except the ZR2. It cannot be installed on two-wheel-drive trucks, nor any truck wearing wheels that are 20 inches or above. The kit is available now, ordered through any Chevy dealer for $150. There is a treat in store for GMC buyers, though, but it requires spending a lot more money. GM Authority discovered that the 2021 Yukon will offer the brand's first illuminated emblem. Priced at $475 as a dealer-installed option, a backlit glow will show off the GMC logo in the grille. The brand makes the logo in red and black, it's thought the red logo will get the nod, at least at first. Only the front logo earns the spotlight, not the one on the tailgate. GMA says the tchotchke will be available on all four trims when the new full-size crossover goes on sale in a few months.

2014 Chevy Silverado details continue to dribble out

PickupTrucks.com has gotten its hands on a few more details concerning the 2014 Chevrolet Silverado and the 2014 GMC Sierra. General Motors held a conference call on the two trucks, allowing Jeff Luke, executive chief engineer for both, to answer a few questions. Luke said truck buyers are largely concerned with power and fuel economy, and as such, GM will continue to explore new methods of providing both. That may translate into any number of drivetrain permutations, including light-duty diesel engines, eight-speed transmissions or even a twin-turbocharged V6.
What's more, both the 2014 Silverado and its GMC twin will boast a tow rating of 11,500 pounds, but only when equipped with a max-trailering package. Without that special package, the rating drops to 10,200 lbs for regular cabs and 9,700 lbs for crew cabs. Buyers will no longer be able to opt for a 4.10 gear ratio.
We're also excited to hear that GM plans on making the Z71 package into something more than just a few a stickers. While Luke didn't go into details, PickupTrucks.com says "it will get significant improvements in the future." Head over to the site for a quick rundown of the call's highlights.