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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

Do you guys like trucks?

Do you guys like trucks? If the answer is yes, boy do we have the show for you! The 2018 North American International Auto Show is lousy with 'em. Yeah, we saw the new Ram 1500, Chevy Silverado and Ford Ranger, but that's just scratching the surface. There are big trucks, little trucks, clean trucks, dirty trucks, old trucks, new trucks, red trucks, blue trucks. It's like a Dr. Seuss book. Anyway, we made a little video for you truck nuts (see what I did there?). Check it out above, and if you're looking for more serious coverage of the Detroit Auto Show, we've got it, along with a ton of images and other videos from the show floor. Enjoy! Related Video: Humor Detroit Auto Show Chevrolet Ford GMC Honda Lincoln Nissan RAM Toyota Truck Videos Original Video 2018 detroit auto show

GMC goes to the dark side with Terrain and Acadia Black Edition

GMC recognizes how many of its SUVs are customized immediately after purchase. It's not uncommon for a big SUV to be ordered in black, and then to receive a murdered-out look on top of that: black wheels, black tint, black trim. According to GMC, roughly 1 in 5 new SUV buyers gets their new vehicle customized, and to better serve those customers, GMC is now saving them the trouble of doing it aftermarket. As per GMC's statement: "Black Editions answer the specific desire for a blacked-out effect and come direct from the factory ingrained with distinct personality." Both the 2019 GMC Terrain and Acadia will be available in the special "Black Edition" from this summer on. They both feature blacked-out grilles, roof rails, mirror caps and trim. The Terrain's Black Edition, available on SLE and SLT spec, gets 19-inch gloss black aluminum wheels, and the SLT-only Acadia Black Edition gets 20-inch machined aluminum wheels with black accents. Despite the name, the Black Editions are both available in four colors other than just black — even if those are mainly shades of grey with an option for white as well. Related Video: