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GM Beats Estimates as Earnings Rise 34%

Pickups, SUVs and CUVs deliver.

by on Apr.28, 2017

Keep on trucking: General Motors' light trucks helped the maker drive a big surge in earnings.

General Motors’ fleet of big pickups and SUVs helped the automaker overcome all obstacles for the first quarter of 2017, earnings rising 34% to handily top Wall Street’s expectations and set a new quarterly record.

With a net income of $2.6 billion, GM was the last of the three Detroit-based automakers to report 1Q earnings and one of two to outperform market forecasts. Only Ford, which was off by 35%, posted a year-over-year decline – though it also benefited from booming demand for high-profit light trucks.

By the Numbers!

“We are executing our plan and it’s delivering results,” Chief Financial Officer Chuck Stevens said during a Friday morning news conference at General Motors headquarters. “This sets us up for another strong year.”

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Workers Lose Jobs as Small Car Sales Slide

Growth of trucks due to gas prices forces change.

by on Jun.15, 2015

Sales of the Chevrolet Sonic subcompact have fallen off sharply this year.

U.S. new car sales are on a torrid pace, but that’s small comfort to the 100 workers at General Motors’ Orion Township assembly plant who will be idled for at least six months.

Demand for the small Chevrolet Sonic and Buick Verano models they build at the suburban Detroit facility has fallen by double digits since the beginning of the year, with analysts seeing little likelihood of a turnaround anytime soon. But GM isn’t alone. Ford Motor is in the process of cutting about 700 jobs at the plant near Detroit that produces models such as the compact Focus sedan and C-Max people-mover.

We'll Keep You In the Know!

Further cuts could follow across the industry, analysts caution, as American buyers drift away from the small, fuel-efficient models they craved when gas was nearing record levels earlier in the decade in favor of bigger SUVs, pickups and other less-efficient models.

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GM Enjoying Strong October Sales

Full-size pickups leading maker to another strong month.

by on Oct.15, 2014

In October, strong sales of the Chevrolet Silverado are pushing GM to a repeat of last month's results.

With sales of truck and utility vehicles going strong, early returns indicate October will be another good month for General Motors, executives said this week.

Sandor Piszar, Chevrolet director of Truck Marketing, said before a presentation on GM’s truck sales that overall sales of new vehicles have remained strong during the first part of October. So far this month, sales have basically continued on the same path as they were on during September, according to the reports from dealers, he said.

Power Up!

Chevrolet sold more than 50,000 Silverado trucks in September, resulting in a share gain of 6.5 percentage points in the large pickup truck market and making it the current-generation Silverado’s best sales month since its launch. (more…)

GM Truck Sales Exceeding Maker’s Expectations

Both old and new models commanding higher prices than forecast.

by on Aug.15, 2013

GM's 2014 pickups could add a billion dollars to its bottom line, according to one forecast.

As it sells off its old full-sized pickups while ramping up production of two all-new models, things are going markedly better than forecast, according to several top General Motors executives, with sales exceeding expectations and the old truck commanding a higher price than planned.

The overall U.S. market has been rebounding faster than almost anyone has expected this year, with sales now forecast to reach or exceed 15.5 million for all of 2013, about 1 million more than last year. And full-size pickups have been leading the charge, the segment up more than 20% for the past seven months.

News You Can Trust!

But GM pickup sales surged a whopping 44% in July compared to year-earlier numbers, with the outgoing 2013 model accounting for 85% of total volume for the month.

“It’s a nice transition,” said Chris Perry, general marketing manager for the Chevrolet Division which markets the most popular of GM’s two full-sized trucks, the Silverado. The other model is the GMC Sierra.

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