1969 Corvette Convertible With Frame-off Restoration on 2040-cars

Auto blog

GM raises 2023 guidance on strong sales, higher profits

General Motors beat first-quarter profit estimates and raised its full-year earnings and cash-flow guidance after vehicle demand at the start of the year surpassed expectations. Its shares rose in premarket trading. GM made $2.21 a share in adjusted profit in the first quarter, compared to a consensus forecast of $1.72 a share. Revenue rose 11% to $39.99 billion, it said Tuesday, which was more than the $39.24 billion analysts expected. The stronger results stem from rising sales in the US, even in the face of higher interest rates and inflation. GM executives said demand was strong enough to revise 2023 guidance upward, boosting profit estimates for the year by $500 million to between $11 billion and $13 billion. “We did it with strong production and inventory discipline and consistent pricing,” GM Chief Financial Officer Paul Jacobson said on a call with journalists. “All in all, weÂ’re feeling confident about 2023.” The Detroit automaker raised per-share full-year guidance to between $6.35 and $7.35, up from $6 to $7 a share, and said free cash flow would also increase by $500 million to a range of $5.5 billion to $7.5 billion.  GMÂ’s shares pared a gain of as much as 4.4% before the start of regular trading Tuesday, rising 3.5% to $35.50 as of 6:55 a.m. in New York. The stock was up 1.9% for the year as of the close on Monday.  North American Strength The automakerÂ’s sales were particularly strong in North America, where first-quarter earnings rose before interest and taxes rose to $3.6 billion. Vehicle sales rose 18% to 707,000 in the region. Jacobson said the company originally expected to sell 15 million vehicles in the US this year, slightly less than the 15.5 million annualized rate automakers foresaw in the first quarter. North American demand was enough to offset a weak performance in China, GMÂ’s second-largest market. The automaker continues to struggle in the country, where its vehicle sales fell 25% to 462,000 vehicles in the quarter. Profits from its joint ventures in the market slumped 65% to $83 million.  The market has struggled overall in the wake of Covid-19 restrictions and foreign automakers have had to overcome a growing preference for Chinese brands by competing on price, squeezing profit margins. The situation in China probably wonÂ’t significantly improve until the second half of the year, according to Jacobson. GM remains on target to sell 150,000 electric vehicles this year, the CFO said.

Chevy confirms 2016 Camaro will have wheels, brakes

Good news, everyone! Chevrolet has issued yet another round of teaser images and information about the sixth-generation Camaro, set to debut in Detroit on May 16. This time around, Chevy's teaser images confirm that the new car will not only have wheels and tires (Goodyear Eagle F1s, no less), but brakes as well. On top of that, we now know that the new Camaro will be 28-percent stiffer than the outgoing model. "The more rigid body structure allowed the engineers to more precisely calibrate the steering and suspension systems because they didn't have to compensate for chassis flex. The lighter structure also enabled the size and mass of elements such as the wheels, tires and brakes to be scaled accordingly," GM said in a press release, which you can read below. We've already learned that the new coupe will be 200 pounds lighter than its predecessor, has a bunch of unique parts, and according to GM's Mark Reuss, will outperform the Ford Mustang in every way. Now, it's only a matter of time before we see the sixth-gen Camaro, but surely not before Chevy issues even more teasers and information. Related Video: 2016 Camaro is Stronger, Lighter and More Responsive Computer aided engineering contributes to 28 percent greater structural stiffness DETROIT – The engineering team spent 9 million hours of computational time honing the driving experience of the all-new 2016 Chevrolet Camaro before the first prototype turned a wheel. The structural modeling led to the Gen 6 Camaro being 28 percent stiffer than the current model. "The modeling abilities of computer aided engineering are advancing at incredible rates," said Jim Karlavage, Camaro program engineering manager. "Today, we can accurately model opportunities to add torsional strength without adding unnecessary mass. The result is a lighter, stiffer structure that benefits every aspect of the driving experience." The more rigid body structure allowed the engineers to more precisely calibrate the steering and suspension systems because they didn't have to compensate for chassis flex. The lighter structure also enabled the size and mass of elements such as the wheels, tires and brakes to be scaled accordingly. "The structural weight savings are compounded by opportunities to reduce un-sprung weight," said Karlavage.

2016 Chevrolet Malibu Hybrid Quick Spin [w/video]

If a Chevy Volt is like a hybrid that prefers its electric motor, then the new Malibu hybrid is like a Volt you never have to plug in. That's partly because you can't plug it in, but more because the Volt and the gas-electric Malibu share a lot of major components. Since we happen to like the newly refined Volt, that's good news for the larger family sedan. The shared parts include the blended braking system, A/C compressor, the auxiliary power module, and most of the hybrid transaxle (what you might call a fancy electro-transmission). In the Malibu, the electric motors use neodymium magnets for efficiency and power, while the Volt has weaker ferrite magnets to reduce drag, and the Volt also gets an extra clutch to lock out the engine. The two use different batteries, with their size, power capabilities, and chemistry suited to the task for each vehicle. Unlike most of the midsized sedan leaders, the Malibu has never had a full hybrid option. For a few years in the last generation, Chevy offered the Malibu Eco with a version of GM's eAssist mild-hybrid system, which featured a small motor-generator in place of an alternator hooked up to a bigger battery that could harvest energy during deceleration and add some back in when you hit the throttle; it also brought engine stop-start functionality to save a little more fuel. But it saved only a little fuel, so eAssist was nixed in favor of a more efficient four-cylinder with a standalone stop-start system. Driving Notes Mode switches between gas and electric are just as smooth as in the Volt. No shudder or weirdness in the throttle. It drives as much like a gas-only car as any midsized hybrid does. The blended braking system is also noticeably well sorted. There's no deadness in the pedal, no touchiness, and no artificial, wooden feeling when you step through the regen portion of its travel. There's nothing abrupt or jarring about any of the experience, and the Malibu's baked-in quietness helps to deal with noise from the somewhat coarse 1.8-liter gas engine. Engine startup and shutdown are noisy from outside, but much less noticeable from within. The 2016 Malibu is larger yet lighter. The hybrid weighs about 125 pounds more than a comparably equipped 1.5T. You don't notice the extra weight, but there is some space eaten out of the trunk by the battery.