04 Gmc Envoy Sle 2 Wd Cloth Interior One Owner Clean Car Fax 3 Row Seats on 2040-cars

Auto blog

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

2015 Chevy Silverado, GMC Sierra recalled for steering issues

DETROIT — General Motors Co is recalling more than 1 million pickup trucks and sport utility vehicles in the United States due to issues with a temporary loss of power steering, the National Highway Traffic Safety Administration said. The recall is for 2015 models. They are: the Chevy Silverado 1500, Suburban and Tahoe, GMC Sierra 1500, Yukon and Yukon XL and Cadillac Escalade. The problem may cause difficulty steering the vehicle, especially at low speeds, increasing the risk of a crash, the auto safety regulator said in a document dated Sept. 12. The document did not highlight any reports of accidents and injuries, because of the power steering issue. GM dealers will update the power steering module software, free of charge for owners of the affected vehicles. In 2014, the No.1 U.S. automaker had recalled nearly 800,000 pickup trucks worldwide because of the same problem. GM did not immediately respond to a request for comment.Related Video:

WI dealer under fire for selling new GMC to dying, blind 89-year-old WWII vet [w/video]

You know, people, getting through this life from one end to the other in one piece really does require just one rule: don't be a prick. If you ever find yourself in a situation of dubious moral standing, take a step back and ask yourself, "Am I being a prick to any person or thing?" If the answer is "yes," then stop what you're doing, apologize and go home. One dealership in Wisconsin could possibly have benefitted from that course of action when it reportedly helped David McMurray con his elderly and disabled parents into buying a brand-new $42,000 GMC Terrain for his use.
According to local news reports, a representative from Palmen Motors visited Harold and Christen Thomsen's home to collect signatures for a loan agreement three weeks before the 89-year-old, legally blind Harold passed away. The World War II veteran was on morphine and in hospice when he signed for the GMC, and his 90-year-old wife suffers from dementia. Even so, upon being discovered, the dealer initially said everything was done "legally." According to Barb Tinkler, McMurray's sister, the sale was a scam that remained hidden until he was busted for an unrelated criminal charge.