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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.

Best 3rd Row SUVs of 2024

If you plan on using a vehicle's third row a lot, let us at least make the suggestion that a minivan would be a smarter bet than anything you're going to see on this list of best three-row SUVs. Their third rows are bigger, more comfortable and easier to get to. The kids will definitely be happier. Here are our two top choices.  OK, now that that's out of the way, we totally get why minivans are totally depressing and that if the kids want to be happier, they can buy their own darn vehicle. You're buying, you're driving, you're being seen in it and you'd rather have a three-row SUV. Fair enough. Luckily, there are more choices than ever and they're really good. The best do a particularly good job of being family friendly without looking like a drab transportation appliance, although really, you can't go wrong with any of the mainstream three-row SUVs. Now, some of the luxury choices are a bit suspect, including those that are otherwise very appealing but have cramped third-row seats (the Genesis GV80 comes to mind). We're focusing on three-row SUVs here, so having a usable third row is a must.   In this list, we have broken things down into four sub-categories: Best Three-Row Crossover |  Best Full-size Three-Row SUV Best Luxury Three-Row SUV |  Best Flagship Luxury Three-Row SUV Note that we define crossovers as SUVs since most buyers use the terms interchangeably, but acknowledge that "crossover" is literally a vehicle with a car-like unibody structure as opposed to the truck-like, body-on-frame construction that traditionally has defined "SUV." In other words, we consider all crossovers SUVs, but not all SUVs are crossovers (specifically those in the full-size segment and some in the flagship luxury segment). Best Three-Row Crossover SUVs of 2024 2024 Honda Pilot Why it stands out: Exceptional storage and cargo space; unique second-row functionality; refined ride; versatile and capable TrailSport; advanced AWDCould be better: Subpar acceleration with lackadaisical transmission and engine response; so-so driver assistance tech Read our full 2024 Honda Pilot Review The Honda Pilot was completely redesigned for 2023. It maintains its predecessor's family friendly packaging and overall focus, but it has injected a welcome sense of style (especially in the TrailSport pictured above) that makes it stand out much better from the big crossover crowd.

Editors’ Picks January 2023 | Acura Integra, the new CR-V and more

A new year means another long year of testing and evaluating new metal coming from the automotive industry — we know, tough job, right? It also means another year of new cars making it to our EditorsÂ’ Picks status, and weÂ’re starting out January with a bang. In total, eight new vehicles were EditorsÂ’ Picks this month, including some brand-new models like the redesigned Honda CR-V, Cadillac Lyriq and the ever-controversial Acura Integra. In case you missed our previous Editors' Picks posts, hereÂ’s a quick refresher on whatÂ’s going on here. We rate all the new cars we drive with a 1-10 score. Cars that are exemplary in their respective segments get an EditorsÂ’ Pick designation. Those are the ones weÂ’d recommend to our friends, family and anybody whoÂ’s curious and asks the question. The list that youÂ’ll find below consists of every car we rated in January that earned an EditorsÂ’ Pick. 2023 Honda CR-V 2023 Honda CR-V Sport Touring front three quarter View 22 Photos Quick take: An all-around winner, the Honda CR-V is spacious, features easily used technology and looks better than ever. We recommend the efficient hybrid model, but the standard powertrain is a solid option, too. Score: 9.0. What it competes with: Hyundai Tucson, Kia Sportage, Mazda CX-5, Toyota RAV4, Subaru Forester, Nissan Rogue, VW Tiguan, Chevrolet Equinox, Ford Escape, Mitsubishi Outlander Pros: Clean styling; massive interior; efficient engine options; solid infotainment system; many standard safety features. Cons: No base trim levels; lack of specialty options such as plug-in hybrid and off-road models. From the editors: News Editor Joel Stocksdale — "The CR-V is just really good in a lot of ways that really matter. It's enormous inside. It has a clean, stylish exterior and interior. It's solidly equipped. The base engine is pretty underwhelming, but that's rectified with the more powerful, more refined and more efficient hybrid. It simply doesn't do anything badly." Senior Editor James Riswick — "The 2023 Honda CR-V is at its best as the hybrid. While the turbo base engine carries over virtually unchanged, the hybrid is new for 2023. To put it simply, itÂ’s just better to drive. Honda engineers managed to simulate shifts when the gas engine kicks on, providing a more natural driving experience and eliminating the blender-like droning of the outgoing car.