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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

Man on meth steals truck (and goat) from adult video store, police say

A man who was allegedly high on methamphetamine carjacked a pickup truck with a sleeping passenger inside it and a goat in the bed, pistol-whipped the passenger and then led police on a low-speed chase before finally being caught on foot and arrested, police say. It began early on New Year’s Day outside an adult video store in Carthage, Missouri, which is near Joplin in the stateÂ’s southwestern corner. Reports say Brandon Wayne Kirby, a 40-year-old from Mannford, Oklahoma, stole the truck after the driver had gone inside the store but while the passenger was sleeping. When the passenger woke up, he saw a masked man driving and pointing a gun at his head. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Police say Kirby drove the GMC Sierra Heavy Duty Duramax diesel through parts of Missouri, Kansas and into Oklahoma, holding the passenger against his will. At some point, the passenger told police, Kirby ingested meth, pistol-whipped him and continued to threaten him with the gun. The passenger said Kirby eventually let him and his pet goat out on the side of the road in a rural area, which is when he was able to call 911. Police then called OnStar, which tracked down the stolen Sierra HD and slowed it down to around 15 mph. Police eventually used stop sticks to flatten the truckÂ’s tires in the city of Sand Springs and later had to nudge the truck into a ditch to end the low-speed vehicle chase. But Kirby at that point got out of the truck and fled on foot through the woods, dropping his mask and gun, which were both later recovered by police. Kirby was jailed and had charges listed as kidnapping, pointing a firearm and being a felon in possession of a firearm. HeÂ’s reportedly wanted in another county in Oklahoma for burglary and has multiple felony convictions for assault, burglary and possession of a stolen vehicle, according to KTUL-TV in Tulsa. The passenger and goat were transported back to the Creek County SheriffÂ’s Office. The Sand Springs Police Department said on Facebook: “OK 2020, it only took you 4.5 hours to get weird. Let's slow down on the carjacking-goatnapping calls for the remainder of the year.” Related Video:

REWIND: Watch the GMC Hummer EV live reveal right here

It has been a long wait to see the GMC Hummer electric pickup truck, which was teased way back at the Super Bowl in February of this year. And that wait ends tonight at 8 p.m. eastern time when GM pulls the covers off the truck. You can see the whole reveal right here, or during the World Series on Fox or "The Voice" on NBC. For everything we know about the truck, go to our reveal post here. The truck should be impressive. GMC has previously announced it will have up to 1,000 horsepower, and it will have a variety of fun features such as removable roof panels and four-wheel steering that can move the truck sort of sideways with "Crab Mode." The GMC Hummer will also be available in pickup and SUV forms. So be sure to tune in tonight for one of the biggest (figuratively and literally) vehicle reveals of the year. And keep an eye on Autoblog for all the latest on the Hummer and other vehicles.