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Drew Dowdell

GM News: Q3 2018 - GM Posts $2.5 Billion Profit

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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


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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.

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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. - 

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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.

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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 

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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.

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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

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But the Volt doesn’t have the interior or trunk room of a Tesla Model 3.

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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.

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IMG_1577.JPG

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

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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.

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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.

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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?

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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?

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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

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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.

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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. 

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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.

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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.

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@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? ;) 

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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. 

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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.

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