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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

Next-generation GMC Canyon, Chevy Colorado spied together

With the debut of the next-generation GMC Canyon coming in a couple of months (in off-road-ready AT4 guise no less), it's no surprise that both it and the Chevy Colorado are out testing without the heavy coverings of early prototypes. One of our spy photographers caught examples of both trucks with close-fitting vinyl wraps. This gives us a great opportunity to see each pickup more clearly, but also to compare and contrast the designs. From the front, the GMC features a narrower, but seemingly taller grille. At the top are slender lamps. They seem to be daytime running lights, though, and below them are much larger units that will function as the actual headlights. The prototype shown seems to be one of the AT4 variants, based on the lack of a lower air dam and the opened up corners of each bumper. Small fog lights show up in the lower bumper, too. As for the Chevy, its grille is wider, and it blends into the headlights. The lights are at the top of the grille, and they seem to incorporate the actual headlights, not just running lamps. The grille mesh has some interesting detailing, and there are auxiliary lights below the main headlights. This one seems to be a more mainstream Colorado model since it still has a front air dam, possibly a Z71 model, considering the chunky tires. Not surprisingly, the two trucks are very similar from the sides and the rear. They have cabins that look lower, longer and more squared-off than the current models. The fenders look more punched out and aggressive, too. The main differentiator between the Chevy and GMC are the wheel openings. The GMC has sharp corners and the Chevy has more rounded ones, as is the case with the full-size trucks. As previously mentioned, the GMC Canyon AT4 will be revealed this summer, so likely in just a month or two. The Colorado will likely be revealed this summer, too. It's expected that it will use the turbocharged 2.7-liter four-cylinder shared with the Silverado. Naturally, it will be available with two- and four-wheel drive and a variety of trim levels including the AT4 and ZR2 off-road versions. Related video:

2015 Chevy Silverado, GMC Sierra heavy duty trucks unveiled

Proving just how important trucks are in the Lone Star State, General Motors has chosen the State Fair of Texas to reveal its new heavy-duty trucks from Chevrolet and GMC. Looking to take some of the wind out of the sails of the 2014 Ram HD and 2015 Ford F-Series Super Duty, the 2015 Chevy Silverado HD and 2015 GMC Sierra HD will have plenty to brag about when they go on sale in the first quarter of next year.
The bragging starts right up front with two available engines. The standard engine is a Vortec 6.0-liter V8 that produces 360 horsepower in the 2500HD and 322 hp in the 3500HD to go along with 380 pound-feet of torque in all applications. The true benefit of this powerplant is that buyers can opt for it to run on straight gasoline, E85 FlexFuel or even compressed natural gas (CNG). For maximum towing and even more flexibility, the 6.6-liter Duramax turbodiesel B20-capable V8 is the way to go, with its carryover 397 hp and 765 lb-ft of torque. Though the max towing abilities of 23,200 pounds (with a fifth-wheel trailer) are less than the 30,000-pound rating of the new Ram, the GM HD trucks offer better conventional trailer towing (19,600 pounds) and payload (7,374 pounds) than rival heavy-duty trucks...for now. The Duramax is paired with a six-speed Allison automatic transmission, while the gas engine gets GM's six-speed Hydra-Matic - no manual transmissions are offered.
Including the engines, GM continues to offer a broad range of configurations (more than 150, to be exact) including three cabs, two cargo bed lengths, numerous trim levels and, of course, the choice of single- or dual-rear wheels on the 3500. The HD trucks have faces that are similar to their half-ton counterparts, with the exception of a larger grille and bigger for improved air flow, and like the current HD offerings, the new Silverado HD and Sierra HD DRW models feature a one-piece bed design incorporating the fender extensions.