Jump to content
  • Drew Dowdell
    Drew Dowdell

    Q3 2018 - GM Posts $2.5 Billion Profit

      Revenue and Income both up strongly

    GM reported an income of $2.5 Billion for the third quarter of 2018 today with strong showings in North America, China, and GM Financial.  Automotive operating cash flow was up by $1.3 billion to $2.5 billion. Overall earnings per share diluted was $1.75.

    In North America, margin is up to 10.2% driven mostly by sales of all-new full-size trucks and continued good sales of crossovers, China reported equity income of $0.5 billion, while GM Financial reported revenues of $0.5 billion. 

    During the period, GM delivered nearly 700,000 vehicles in the US with average transaction prices of $36,000.  In China, sales were up 10% year to date to nearly 836,000 vehicles. In China, Cadillac continues to do well, up 4% year over year and up 20% year to date.  Bolt EV production is being increased by 20% to meet growing demand.

    Source:  General-Motors-Q3-2018-Earnings-Press-Release.pdf

    • Upvote 1


    User Feedback

    Recommended Comments



    That is awesome, clearly they are doing it right in the profit department. I am excited for this auto show season to see what new EVs GM brings to market.

    Share this comment


    Link to comment
    Share on other sites
    1 hour ago, ccap41 said:

    How big of a back seat do those EV's have? 

    Asking for a friend. 

    Are you talking about the BOLT? If so, I can tell you it has plenty of head, shoulder, hip and leg room in the back seat even when I set it for me sitting in front of my self.

    IMG_1580.JPG

    IMG_1577.JPG

    • Haha 4

    Share this comment


    Link to comment
    Share on other sites

    LOL Your head is hunched forward and that door cannot close with your leg NEXT TO the driver's seat. You have no clue how happy I am to see you not comfortably fit in the back of the Bolt after all you preach about it. 

    @ocnblu 

    • Like 1
    • Haha 3

    Share this comment


    Link to comment
    Share on other sites
    12 minutes ago, ccap41 said:

    LOL Your head is hunched forward and that door cannot close with your leg NEXT TO the driver's seat. You have no clue how happy I am to see you not comfortably fit in the back of the Bolt after all you preach about it. 

    @ocnblu 

    That is funny.  The Bolt is a small car, smaller than the Sonic even, it is tiny.  Also why I don't think it is worth the price.  Now when they get a bigger EV, like Cruze or Equinox size then it is a different story because and EV the size of a Cruze on the outside will have interior space like a Malibu.

    2 hours ago, William Maley said:

    Should be noted that GM is offering voluntary buyouts to about 18,000 salaried employees "who have 12 years or more experience." According to Automotive News, this is a ""proactive" measure" to address the expectation of slowdown in North America and China. - 

    Making money and downsizing the workforce.  The American way in action.

    Share this comment


    Link to comment
    Share on other sites
    36 minutes ago, smk4565 said:

    That is funny.  The Bolt is a small car, smaller than the Sonic even, it is tiny.  Also why I don't think it is worth the price.  Now when they get a bigger EV, like Cruze or Equinox size then it is a different story because and EV the size of a Cruze on the outside will have interior space like a Malibu.

    Making money and downsizing the workforce.  The American way in action.

    The Volt is the Cruze.. so for almost 60 miles... the option is there

    • Upvote 1

    Share this comment


    Link to comment
    Share on other sites

    Doesn't it alarm anyone else that GM is making BIG profits selling vehicles that people WANT to spend their money on (trucks and SUV's) so they can put R&D money into building (pathetic, electrified COMPLIANCE) vehicles that people have demonstrated time and time again that they DO NOT want?  HOW is this good for the corporation's future once the desirable stuff is priced (or legislated) out of reach of the customers they have today?  They will have NO customers!  Stupidest thing I've ever heard.

    4 hours ago, dfelt said:

    Are you talking about the BOLT? If so, I can tell you it has plenty of head, shoulder, hip and leg room in the back seat even when I set it for me sitting in front of my self.

    IMG_1580.JPG

    IMG_1577.JPG

    You're such a goof OMG, you crack me up!  Look at you crammed in the back of that Bolt!

    Share this comment


    Link to comment
    Share on other sites
    18 minutes ago, ocnblu said:

    Doesn't it alarm anyone else that GM is making BIG profits selling vehicles that people WANT to spend their money on (trucks and SUV's) so they can put R&D money into building (pathetic, electrified COMPLIANCE) vehicles that people have demonstrated time and time again that they DO NOT want?  HOW is this good for the corporation's future once the desirable stuff is priced (or legislated) out of reach of the customers they have today?  They will have NO customers!  Stupidest thing I've ever heard.

    You're such a goof OMG, you crack me up!  Look at you crammed in the back of that Bolt!

    Your alarm is unwarranted, especially given that Tesla is making profits now.  Forget Faraday, they are done.  GM simply does not want to caught off guard like they were with Toyota in the 70s and Lexus starting in 1990.

    • Upvote 1

    Share this comment


    Link to comment
    Share on other sites
    5 hours ago, ccap41 said:

    LOL Your head is hunched forward and that door cannot close with your leg NEXT TO the driver's seat. You have no clue how happy I am to see you not comfortably fit in the back of the Bolt after all you preach about it. 

    @ocnblu 

    Actually the door does close just fine and I am not crunched up or sardine tight. The interior is bigger than you realize.

    Share this comment


    Link to comment
    Share on other sites
    59 minutes ago, riviera74 said:

    Your alarm is unwarranted, especially given that Tesla is making profits now.  Forget Faraday, they are done.  GM simply does not want to caught off guard like they were with Toyota in the 70s and Lexus starting in 1990.

    Caught off guard on what, exactly?  Government mandates can only go so far.  Forcing the public at large to contribute, through tax breaks, to the failed attempt to get people to change their minds on electrics can (and has gone) only so far.  There simply is not enough interest in the concept to keep it going.  When are these governments going to listen to the people they supposedly represent?

    Share this comment


    Link to comment
    Share on other sites
    1 hour ago, ocnblu said:

    Doesn't it alarm anyone else that GM is making BIG profits selling vehicles that people WANT to spend their money on (trucks and SUV's) so they can put R&D money into building (pathetic, electrified COMPLIANCE) vehicles that people have demonstrated time and time again that they DO NOT want?  HOW is this good for the corporation's future once the desirable stuff is priced (or legislated) out of reach of the customers they have today?  They will have NO customers!  Stupidest thing I've ever heard.

    You're such a goof OMG, you crack me up!  Look at you crammed in the back of that Bolt!

    You seem to be ignoring just like Detroit did in the 70's to Asian auto building that China is now setting the standard and with China and Europe having followed that Hybrids / EV is the future, build at your own peril or death. GM knows where their future is and that is in China not the US. We get left overs and as has been stated, sales of BOLT are taking off around the world. Selling more than they can produce so that they are adding a shift and exporting the Bolt to markets that want to buy the auto. The US is now a follower of the world due to poor leadership and your wanting GM to die rather than innovate and provide what the world markets are dictating.

    Follow the Money  Biff, otherwise you will be left far behind!

    31 minutes ago, ocnblu said:

    Caught off guard on what, exactly?  Government mandates can only go so far.  Forcing the public at large to contribute, through tax breaks, to the failed attempt to get people to change their minds on electrics can (and has gone) only so far.  There simply is not enough interest in the concept to keep it going.  When are these governments going to listen to the people they supposedly represent?

    Unlike the current idiots that suck up to the oil companies here in the US still Ignoring the people and giving out Billions in so called R&D tax dollars to these same billion dollar profit oil companies that should not be getting our tax dollars and should go to paying off the debt, stabilizing our SS / Medicaid benefits?

    Share this comment


    Link to comment
    Share on other sites

    I think electrics will never really be competitive with gas cars on saving purchase price. The problem is that leases are the only reason electric  cars make sense. no one is willing to plunk down money on unproven technology unless it’s someone with big money to buy a Tesla.

    my version of “unproven” here = rapid obsolescence.

     

    in just 3-4 years the average range of any electric of car for sale has doubled or even tripled...good and bad. Charge times are also being reduced

    Share this comment


    Link to comment
    Share on other sites
    9 hours ago, dfelt said:

    Unlike the current idiots that suck up to the oil companies here in the US still Ignoring the people

    Ohhh... so you mean people who drive Suburbans, Escalades, and V8 Trailblazers?  You have no leg to stand on.  You prefer to talk the talk while failing to walk the walk.

    Again, a government mandate does not make a desirable automobile.

    • Thanks 1
    • Upvote 1

    Share this comment


    Link to comment
    Share on other sites
    12 hours ago, dfelt said:

    Actually the door does close just fine and I am not crunched up or sardine tight. The interior is bigger than you realize.

    That's what you SAY but that's sure not what it LOOKS like. 

    2 hours ago, ocnblu said:

    Ohhh... so you mean people who drive Suburbans, Escalades, and V8 Trailblazers?  You have no leg to stand on.  You prefer to talk the talk while failing to walk the walk.

    Again, a government mandate does not make a desirable automobile.

    100% spot on. 

    Share this comment


    Link to comment
    Share on other sites
    2 hours ago, ocnblu said:

    Ohhh... so you mean people who drive Suburbans, Escalades, and V8 Trailblazers?  You have no leg to stand on.  You prefer to talk the talk while failing to walk the walk.

    Again, a government mandate does not make a desirable automobile.

    And as I have stated as have others, I have a spouse to satisfy and while I would have been happy to buy a Bolt, as more options come on the market, I will end up buying as to why I do not have a car payment or am buying any ICE auto. I am waiting for more EV options.

    32 minutes ago, ccap41 said:

    That's what you SAY but that's sure not what it LOOKS like. 

    100% spot on. 

    Might look tight from that photo, but until your actually sitting inside, it is amazing how much room there is.

    100% disagree since a single person he has no one to please other than himself. I have a spouse to keep happy as to why I have not bought anything new since 2008. 10 years and waiting for more EV options.

    • Haha 1

    Share this comment


    Link to comment
    Share on other sites
    3 hours ago, ccap41 said:

    Your spouse drives all of those vehicles regularly? 

    Yes, she drives the SS the most, but will take the Escalade, Suburban or Durango which ever is easiest to get out. They all drive very easily like a car.

    • Haha 1

    Share this comment


    Link to comment
    Share on other sites

    @dfelt Everybody has their own life circumstances, nobody is judging that.  However, to be fair you have probably the most gas guzzling, most inefficient fleet of cars among the members here, yet you preach the most about saving gas and going electric.  Kind of hypocritical, don't you think so? ;) 

    • Thanks 1
    • Upvote 1

    Share this comment


    Link to comment
    Share on other sites

    Yeah, given how much he likes EVs you would think he would have one for himself.  For most couples I know, each spouse has a vehicle that pretty much only they drive. 

    Share this comment


    Link to comment
    Share on other sites

    Especially when there are three vehicles at the home. 

    If you truly wanted an EV one of those three could be an EV and your wife would never deal with them being too small for her to drive.

    Edited by ccap41

    Share this comment


    Link to comment
    Share on other sites
    1 hour ago, ykX said:

    @dfelt Everybody has their own life circumstances, nobody is judging that.  However, to be fair you have probably the most gas guzzling, most inefficient fleet of cars among the members here, yet you preach the most about saving gas and going electric.  Kind of hypocritical, don't you think so? ;) 

    Nope, not at all. My house is Energy Star 3.0, Windows are triple pane argon gas. Insulation is R30 through out and all my lights are on sensors running daylight equal 6500K LED bulbs. From Hydro / Solar power supply to the house and Natural gas for heating, my house is very efficient. All downspouts catch the rain water to be used in the garden or watering the yard. Composting of all material so that I put out usually less than a 13 gallon kitchen bag of garbage. Like the rest of the state, we have mandatory recycle / composting for all citizens. As such, I have 2 - 128 gallon compost / yard waste bins, 1 - 128 gallon recycle bin and a 16 gallon the smallest they have garbage can. Washington state along with Oregon and California requires their citizens to wash out all recyclable materials before putting them in the can. You get find for dirty recyclables. Composting allows us to have an awesome supply of Black Gold soil for the farms and for personal use in gardens, flower beds, etc.

    Even during below freezing my combined electrical / natural gas bill is barely $100 every two months.

    I have included the latest Energy Star 3.2 spec for your review if interested.

    or wa program requirements 3.2 v3 2018-05-16_clean.pdf

    My 1994 Suburban is parked as I am working to convert it to AWD Electric. Battery pack will be between the wheels for best center of gravity. The engine bay will become a Frunk, bigger than anything Tesla has built.

    Since buying my house in 1999, I have done everything I can to minimize my carbon footprint. Auto's is the last area to be done and yes at 6'6" tall 300lbs I am not a small person, my wife is Korean at 5'8" tall and both my daughter and son are the same height.

    We camp and enjoy the great outdoors as well as help family and friends with projects so SUV's and trucks are the most common use auto here. If Cadillac still made their Hybrid SUV I would own one. Probably own two if they also had the Hybrid in the ESV format.

    Due to personal lifestyle, I usually drive 6 to 9 people up the mountain every weekend during the winter for Ski / Snowboarding. Up during the summer for Mountain biking and the rest of the year group hiking and exploring. 

    You can see my life style by following me here:

    https://www.instagram.com/_g_d_f_/

    I agree with everyone that my auto's I drive are NOT the most fuel efficient. As an engineer, I know we can make them fuel efficient and way better. The auto companies just need to build them and the customers will come.

    If you have test drove the BOLT, Tesla, you will know just how much fun the EVs are and can be and drag racing EV's like the White Zombie or the Zombie 222 have proven they can smack down ICE.

    Like all technology, time, engineering effort and drive to a better way of doing things is what it is all about.

    The moment my wife says yes to an EV that fits the family, I will buy one. Till then, I know the beneficial gain to society, the planet and individual people that EV's will bring and I will support them and talk about them. Check out the 1964 Lincoln with Suicide doors EV they are building. Sexy as all get out at Bloodshed Motors.

    White Zombie -http://www.plasmaboyracing.com/whitezombie.php 

    Zombie 222 - 

    http://www.bloodshedmotors.com 

     

    Share this comment


    Link to comment
    Share on other sites



    Join the conversation

    You can post now and register later. If you have an account, sign in now to post with your account.
    Note: Your post will require moderator approval before it will be visible.

    Guest
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.




About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets

facebook

×
×
  • Create New...