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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.

5 things we love about the 2019 GMC Sierra AT4

NEW YORK — The 2019 GMC Sierra AT4 proves that GM's upmarket truck and SUV brand is getting serious about offering rough-and-tumble capability to rival the Ford F-150, Toyota Tundra, Ram 1500 and Nissan Titan. Until the Sierra AT4 rolled onstage at a media event in lower Manhattan, prior to this year's New York Auto Show, the GMC brand had been more focused on luxury touches like fancy chrome wheels and posh interiors — no surprise, considering the upscale SLT and Denali trim levels account for the vast majority of GMC sales. So now GMC wants to get muddy and adventurous? Well, yes and no. The AT4 adds hardware that'll take truck buyers off the beaten path, though this GMC isn't anywhere close to being a Spartan, no-frills work truck. To better explain, let's look at five key features we love about the 2019 GMC Sierra AT4: More than stickers and chrome The Sierra AT4 isn't a cynical marketing ploy, there is some true all-terrain toughness built into this pickup truck. A factory-installed lift kit raises the AT4 by two inches, while Rancho monotube shocks, a locking rear differential, a two-speed transfer case and standard all-wheel drive prove this GMC can dare to venture off paved surfaces — though you might risk getting mud and muck on the truck's handsome 18- or 20-inch alloy wheels. Power and economy The Sierra AT4 comes standard with a 5.3-liter V8 coupled to an eight-speed automatic transmission. In the standard Sierra 1500, this engine produces 355 horsepower. GMC didn't mention engine specs here in New York, though it's possible the AT4 might get a small power bump. This engine should be plenty for most truck buyers, though GMC offers two tempting alternatives. These include a turbo-diesel 3.0-liter inline-six, along with a 6.2-liter V8. Both motors are paired to stop-start fuel-saving systems, along with a new 10-speed automatic transmission. Carbon fiber cool factor The GMC Sierra's available carbon-fiber cargo bed, called CarbonPro in GMC-speak, trims 62 pounds of weight, as compared to a traditional all-steel bed. This slick feature uses carbon composites for interior panels and, judging from GMC's videos of burly bricks and huge hammers being thrown into a CarbonPro cargo bed, it should prove more than up to the task of ... well, having someone throw bricks and hammers into the cargo area.

2024 GMC Sierra 1500 AT4X makes Duramax diesel standard

Changes are afoot for the 2024 GMC Sierra 1500 lineup. The one ringing the biggest bells for the off-roading crowd is the engine swap headed to the AT4X trim. Right now, if you want an AT4X you've got Hobson's choice of engines: The 6.2-liter EcoTec V8 with 420 horsepower and 460 pound-feet of torque. Next year, the 3.0-liter Duramax turbodiesel inline-six that's standard equipment on the AT4 and Denali Ultimate trims becomes the standard engine on the AT4X. The oil-burner makes 305 hp and 495 lb-ft., sent through the same ten-speed automatic the 6.2 V8 is yoked to. GM said around 20% of buyers have checked the Duramax box when buying a Sierra 1500 since the automaker released the upgraded engine for the 2023 model year — it's also offered on the SLE, Elevation, SLT, and Denali trims. The percentage should grow thanks to the diesel's low-speed grunt being one of the best "force multipliers" when traipsing over and through particularly challenging corners of the woods. The 6.2-liter will take the exhaust note crown over the diesel after the introduction of an active exhaust system with a Sport mode exclusively for the 6.2. Assuming no more changes to engine lineups before the 2024 Sierra arrives, the SLT, AT4, Denali, Denali Ultimate, and AT4X will have access to the active exhaust option.   GM Authority says the Duramax is getting another maximal friend in 2024, too. The 2.7-liter Turbo High-Output four-cylinder makes 310 hp and 430 lb-ft and is standard equipment on the entry-level Pro trim. the SLE, and Elevation trims will be renamed "TurboMax," which sounds like an Autobot, and that's not a bad thing. GM applied to trademark the name in January. The new moniker is headed to the Chevrolet Silverado as well, and we'd bet on exterior badging to let the world know.  Elsewhere around the Sierra, there will be two new exterior colors, Downpour Metallic and Thunderstorm Gray, mixable and matchable with two new aluminum wheel designs. And between those wheels, power retractable steps will be available for the Denali, Denali Ultimate, AT4 and AT4X trims. We'll be waiting to see how the steps differ from the GMC MultiPro Power Steps available now for $1,195.  Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.