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Slowing Sales Fail to Damper GM as Earnings Set Record

Q3 numbers suggest focus on retail market is paying off.

by on Oct.25, 2016

GM CEO Mary Barra: "Determin(ed) to deliver earnings and enhance shareholder value."

(This story has been updated to reflect comments made by GM officials during an earnings conference call.)

General Motors earnings more than doubled during the third quarter to a record $2.77 billion, or $1.76 a share, despite slowing demand in the U.S. market.

But the maker says it benefited from a shift in focus away from low-profit fleet sales to the more lucrative retail market, as well as a rebound in the Chinese automotive market.

Earnings News!

The Detroit maker handily outperformed Wall Street’s expectations. Excluding a one-time gain, GM earned $1.72 a share for the quarter compared with a consensus forecast of $1.46. In a statement, the automaker credited “robust retail sales in the United States, strong performance in China, growth in wholesale volume and effective cost performance.”


Buick Breaks Streak, Takes Third on Consumer Reports’ Most Reliable List

Brand's small line-up helps push rankings.

by on Oct.24, 2016

The Buick Encore's strong finish was matched by the rest of the brand's line-up, giving it a third-place result in this year's Consumer Reports survey.

Consumer Reports regularly puts all of the automakers through their paces trying to determine which brands should be deemed most reliable.

And reliably, Asian brands tend to dominate the top 10 list – except this year.

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Buick hatched a surprise and finished third in this year’s listing of the Most Reliable Brands behind Lexus and Toyota. The result marked the first time in three decades that a Detroit-based brand make the top 10 list. (more…)

Tesla Warns of Slow Model 3 Deliveries.

Bad news for Tesla could be good news for Chevrolet’s new Bolt.

by on Oct.19, 2016

Tesla still hopes to have the first Model 3 sedans in production during the 2nd half of 2017.

Looking to buy one of Tesla’s new Model 3 battery-cars? You can look for a long wait.

Those who put in an early reservation for the carmaker’s first mainstream model might yet get a Model 3 delivered before the end of next year, Tesla now says more recent orders won’t be fulfilled until 2018. And some analysts questions whether the company will even meet that goal, considering its history of missing targets with new products.

Stay Plugged In!

That could be good news for Chevrolet, however. The Detroit maker expects to start delivering the first of its own affordable, long-range electric vehicles before year-end, and battery supplier LG Chem said this week that it believes there will be demand for as many as 30,000 Chevy Bolt EVs in 2017.


GM’s Barra Almost Got a Much Bigger Promotion: U.S. Vice President

WikiLeaks latest release reveals CEO was considered as Clinton's running mate.

by on Oct.18, 2016

GM Chairman and CEO Mary Barra made the first round of cuts to be Hillary Clinton's running mate this year.

General Motors CEO Mary Barra’s spent her entire career with one company. However, the history-making executive was under consideration for a bigger title than the “Chairman” that she added last year: Vice President of the United States.

Barra, who has never publicly espoused any political aspirations, was listed among 39 potential candidates to be Hillary Clinton’s running mate, according to a hacked email released today by WikiLeaks.

Political News!

In a list broken down by adviser John Podesta into what he labeled as “food groups,” Barra found herself mentioned with several other top executives, including: Michael Bloomberg, chairman of the news group that bears his name and former mayor of New York City; Microsoft Founder Bill Gates, as well as his wife, Melissa; Apple CEO Tim Cook; Starbucks CEO Howard Schultz; and several others. (more…)

Ford Takes the Hit, But GM, Other Automakers Continue Expanding in Mexico

Trump’s tirade forcing makers to be more cautious about discussing plans.

by on Oct.17, 2016

CEO Bill Ford met with Donald Trump to discuss his attacks on Ford Motor Co.

Even as Ford Motor Co. has been forced to repeatedly defend its plans to move small car production from the U.S. to Mexico, a Who’s Who list of other automakers is set to expand operations of their own South of the Border.

An all-new Audi plant went into production at the end of September, while Nissan is set to begin producing Infiniti models at a plant it will eventually share with Daimler AG’s Mercedes-Benz brand. General Motors, meanwhile, is investing $800 million in its own small car operations in Mexico, including a retooled plant in San Luis Potosi.

Production News!

While the Audi and Infiniti/Mercedes operations show that Mexico is now attracting high-end manufacturers, much of the focus remains on small car production where low labor costs are critical to profitability. (more…)

GM Adding Third Shift at Tennessee Plant

Spring Hill expands XT5, Acadia production.

by on Oct.12, 2016

GM is adding a third shift to its Spring Hills, Tennessee, plant to build more GMC Acadia and Cadillac CT5 crossovers.

General Motors has announced plans to add a third shift and 650 jobs to its Spring Hill, Tennessee, plant to increase production of the Cadillac XT5 and GMC Acadia.

The news comes on the heels of GM’s commitment to Unifor, the union representing Canadian Auto Workers, to upgrade an assembly plant in Oshawa, Ontario, outside of Toronto.

Auto News!

The announcements boosting GM’s production capacity also reflect the apparent optimism of GM’s senior management, which believes sales of utility vehicles will remain steady and provide automaker with ample room to grow sales. (more…)

GM, U.S. Army Unveil Colorado Fuel-Cell Pickup

Project could take hydrogen power to the front lines.

by on Oct.03, 2016

The Chevrolet Colorado ZH2 prototype is a stretched and ruggedized version of the midsize pickup.

By the end of the year, three automakers plan to be selling hydrogen cars in a few select California markets, but General Motors and the U.S. Army are teaming up to see if hydrogen power has the stuff it takes to go to war.

GM and the Army today unveiled a prototype fuel-cell military vehicle based on the Detroit maker’s midsize pickup. Dubbed the Chevrolet Colorado ZH2, the military is looking to see if the technology is not only clean and green, but robust enough for front-line operations. Hydrogen power offers a number of other attractive features, the Army believes.

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“Fuel cells have the potential to expand the capabilities of Army vehicles significantly through quiet operation, exportable power and solid torque performance, all advances that drove us to investigate this technology further,” said Paul Rogers, director of the U.S. Army Tank Automotive Research, Development and Engineering Center, or TARDEC, in a statement.


Buick Launching All-New Avenir Sub-Brand

Patterned on company’s “Denali” label, it arrives in 2018.

by on Sep.30, 2016

Coming in 2018, Buick hopes Avenir will bring the same returns that Denali does for GMC.

Buick, an automaker long associated with smooth, “boulevard” driving is about to launch a new sub-brand dubbed “Avenir.”

The name means “future,” in French, and is meant to cover the most exclusive of Buick’s future models. Avenir first appeared on a wildly popular Buick concept vehicle that made its debut at the 2015 North American International Auto Show in Detroit.

Branding News!

“Through the first half of 2016, Buick has been the industry’s fastest-growing major international brand, and Avenir is key to future growth and delivering on the high expectations of new customers coming to our showrooms,” said Duncan Aldred, vice president of global Buick sales, service and marketing. “Avenir will be Buick’s signature.” (more…)

GM, Hyundai/Kia Take Lead as NACTOY Narrows List of Year’s Best

Annual awards add third category for utility vehicles.

by on Sep.27, 2016

The new Genesis G90 is one of four semifinalists from Hyundai and Korean sibling Kia.

It’s been a busy year for the auto industry, with scores of new cars, trucks and utility vehicles making their debut. And that’s kept the 60 jurors from the North American Car and Truck/Utility of the Year equally busy.

Of the 44 eligible 2017 models, they’ve taken a first cut, narrowing the field down to 29 semifinalists that, for the first time, fall into three separate categories. For the coming model-year, the NACTOY jurors will be selecting winners in three separate categories: Car, Truck and Utility Vehicle.

Award Winner!

The initial cut includes a wide variety of Asian, American and European brands, but two manufacturers stand out, General Motors leading the list with a total of seven nominees, the Hyundai/Kia Motor Group close behind with four separate semifinalists.


GM Expects Improved Second-Half Earnings

Company's positive news runs counter to that of Ford.

by on Sep.22, 2016

GM Chairman and CEO Mary Barra appears to be on track for another solid year as the company re-affirmed its financial guidance for the 2016.

General Motors Co. re-affirmed its earlier forecast, calling for the company to make up to $6 per share and said it expects to exceed its cost-savings target of $5.5 billion, which will be more than enough to offset increased spending on new technology and ride-sharing.

The optimistic outlook was in sharp contrast from its crosstown rival Ford Motor Co., which reduced its profit forecast for the second half. Ford expects slower sales as well as higher costs for incentives and the launch of new vehicles and other initiatives.

Financial News!

GM also released a new report aimed providing additional insights about the company for the investment community. (more…)