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GM sees 'strong year' in 2018, then gold in Chevy Silverado for 2019

DETROIT — General Motors said on Tuesday it expects earnings in 2018 to be largely flat compared with 2017, but that profits should pick up pace in 2019 as its revamped line of high-margin pickup trucks hits the U.S. market. The 2018 earnings outlook was above market expectations, sending GM shares up more than 3 percent in premarket trading. "GM had a very good 2017 as we continued to transform our company to be more focused, resilient and profitable," GM Chief Executive Mary Barra said in a statement. "We are positioned for another strong year in 2018 and an even better one in 2019." GM and its Detroit rivals, Ford and Fiat Chrysler Automobiles, are bringing on new trucks at a time when overall U.S. new vehicle sales have been falling, but truck sales continue to grow as consumers abandon passenger cars in favor of pickups, SUVs and crossovers. GM on Saturday fired a new round in the battle for profits from one of the U.S. auto industry's most lucrative segments when it showed a new generation of its Chevrolet Silverado pickup truck at the Detroit auto show. The new Silverado, a highlight of the event, is the successor to GM's best-selling vehicle in North America. Sales of the current Silverado rose nearly 2 percent to 585,000 vehicles in 2017. In the coming months, the company will also reveal a revamped GMC Sierra pickup truck. U.S. new vehicle sales fell 2 percent in 2017 after hitting a record high in 2016, and are expected to drop further in 2018 as interest rates rise and more late-model used cars return to dealer lots to compete with new ones. GM said on Tuesday that while it retools a factory in Ft. Wayne, Indiana, to make the new pickup trucks, it will shift some production to an Oshawa, Ontario, plant in order to avoid missing sales in a hot market for the vehicles. The No. 1 U.S. automaker said it will record a $7 billion non-cash charge for its fourth-quarter 2017 earnings related to deferred tax assets. GM said it expects capital expenditure in 2018 of around $8.5 billion, about $1 billion of which will go toward funding self-driving car technology. Last week, the company said it is seeking U.S. government approval for a fully autonomous car — one without a steering wheel, brake pedal or accelerator pedal — to enter the automaker's first commercial ride-sharing fleet in 2019. GM said it expects 2017 earnings per share at the high end of its previously forecast range of $6 to $6.50.

GMC Hummer EV EarthCruiser upfit finally here, for going out there

The GMC Hummer EV EarthCruiser upfit can now be seen in the wide open bright light, the battery-electric overlanding rig soon available to Hummer EV pickup owners to head back into the bush for extended stays. The camper's made of carbon fiber and features EarthCruiser's hallmark pop-top roof. When closed, the camper takes the Hummer EV's 79-inch stock roof height up to 90 inches. Springing the three-layer, insulated roof to bivouac increases height to 117 inches. The upfit keeps the Hummer EV's 217-inch length, and it appears the side storage bins don't extend beyond the 87-inch width of the electric pickup's wheel arches. The driver's side exterior bin holds recovery gear, the passenger's side storage holds tanks for filtered water.  Sized to sleep two people, there's a full-sized RV bed with 35 inches of headroom under the raised top. Tall outdoorsy types are well served by the 76 inches of headroom standing in the hallway, and 80 inches at the rear entrance. Power comes from 605 watts of solar panels on the roof, energy stored in a 12-volt lithium battery array that adds up to 6 kilowatt-hours or 460 amp-hours of energy, running through a 1,500-watt inverter. EarthCruiser says the batteries will be enough to juice hungry appliances like the refrigerator/freezer combo for about a week. That means owners would need to be more careful with water than with power, there being a 13.5-gallon freshwater tank — which the sun can't refill — and a seven-gallon gray water hold. Other amenities include an induction cooktop, sink, filtered and unfiltered water taps, flat-pack toilet, indoor and outdoor showers and 12-volt water heater, 120-volt and 12-volt outlets, and lots of dimmable lighting. Liveaboards control the interior through a seven-inch touchpad. Outside, an exterior keypad manages exterior lighting and systems. No mention of an indoor heater, but there's plenty of storage in the galley drawers and cabinets, and under the bed for a portable unit.   The GMC Hummer EV EarthCruiser upfit greets the public at this weekend's Overland Expo Mountain West in Loveland, Colorado, welcoming all gawkers from August 25-27. Pricing should come later this year, before EarthCruiser begins offering the unit to owners next year. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

GM invests $24 million to build more crew cab trucks in Fort Wayne

The full-size pickup truck arms race continues unabated here in the United States as Ford, General Motors and Fiat Chrysler battle back and forth for sales supremacy. The Ford F-Series of trucks continues to lead the field in sales (214,611 units sold through the first quarter of 2019), but the race for second place has been a lot more interesting to watch. That's because Ram, long a distant third in truck sales, eked its way past Chevrolet late in 2018 and has managed to hold the position so far in 2019. Don't take this to mean that sales of GM's trucks have been poor across the board. In fact, the automaker reports that sales of its four-door crew cab pickups are up 20 percent in 2019 over the same period a year ago. And that's what makes GM's announcement today so interesting. The automaker is investing $24 million into its assembly plant in Fort Wayne, Indiana to build more Chevy Silverado and GMC Sierra pickup trucks, and the focus will continue to be on crew cab models. "We are building Chevrolet and GMC crew cab pickups at record volume and mix levels to meet customer demand and the $24 million investment will allow us to build even more," said GM chief Mary Barra in a statement. "Crew cab sales have been very strong, and we are expanding customer choice with new models, more cab choices and innovative new powertrains." It's worth noting that, if crew cab sales are up 20% this year, but overall sales are down (over 15% for Silverado and around 2% for GMC), that means it's the cheaper regular cab and double cab models that are lagging. At the same time, sales of the midsize Chevy Colorado have surged 16%. And finally, if you combine sales of the Silverado and Sierra into one bucket, GM still has a comfortable lead over Ram overall. If there's a takeaway here, it's that trucks of all shapes and sizes have been, currently are and will surely remain hot in America, and automakers will continue to invest money into making sure they are able to satiate consumer demand.