2009 Cadillac Dts Luxury 5 Passenger 4dr Sedan on 2040-cars

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GM says over 40% of new China launches in next five years will be EVs

SHANGHAI — General Motors is planning an electric car offensive in China with more than 40% of its new launches in the country over the next five years set to be electric vehicles (EVs), the U.S. carmaker said on Wednesday. GM's electric vehicles, many of which will be all-electric battery cars, will be manufactured in China with almost all parts coming from local suppliers, the company said in a statement released at its Tech Day event in Shanghai. Reuters reported earlier on Wednesday that GM was planning to overhaul its Chinese line-up to stem a slide of sales after more than two decades of growth in a country that contributes nearly a fifth of its profit. GM's new China boss Julian Blissett told Reuters that new technologies, such as EVs and cars with near hands-free driving for highways, would play a key role in GM's China initiatives, which are part of a push to get annual sales in the country back to the 4 million peak it hit in 2017. GM did not say in its statement how many new or significantly redesigned models it was planning to launch in China over the next five years. "China will play a crucial role in making our vision a reality," GM CEO Mary Barra said in the statement, referring to its initiative to create what it describes as a future of "zero crashes, zero emissions and zero congestion" through electrification and smart-driving technologies. GM has said it plans to invest more than $20 billion in electric and automated vehicles globally by 2025. It was not clear how much of that investment will be spent in China. (Reporting by Norihiko Shirouzu in Shanghai; Editing by David Clarke) Related Video: Green Buick Cadillac Chevrolet GM Electric China

Junkyard Gem: 1967 Cadillac Fleetwood Sixty Special Sedan

If you lived in North America in 1967 and you wanted to show the neighbors you'd clawed your way to the peak of the success pyramid, only one car would do: Cadillac Fleetwood. Today's Junkyard Gem is 4,685 pounds of General Motors luxury hardware, finally knocked off the road at age 53 by an unfortunate wreck and now residing in a Denver self-service wrecking yard. The Cadillac brand endured some rough years during the 1970s and 1980s, but rode high during the 1960s. The Fleetwood Sixty Special Sedan started at $6,423 in 1967, or just over $50,000 when figured using inflation-adjusted 2020 dollars. A Mercedes-Benz 250SE sedan set you back $6,385 that year, but it weighed barely half as much and packed just 148 horses against the Cad's 340. Really, you had to get a genuine Rolls-Royce to out-swank the Fleetwood-driving Joneses back then (the Lincoln Continental and Imperial didn't have quite the snob appeal at that time), and the Roller cost more than several Fleetwoods combined. This car has been around during its long life. On the windshield, we see 1980 and 1981 parking stickers from the Keeneland Club in Kentucky. This car was already 13 years old by that time, but still very classy. At some point, the car must have migrated to California. Here's a U.C. Berkeley sticker. This ancient In-N-Out sticker comes from the Southern California-only era of the famous hamburger chain. Sometimes it's tough to determine the reasons that an old car ended up in a place like this, but that's not a problem here. Let's hope the car's occupants had their belts on (lap belts only in 1967, but still better than nothing), because these old Detroit land yachts didn't have much in the way of energy-absorbing crumple zones. The paint and interior are quite rough, so this car depreciated from being worth perhaps a couple of grand to scrap value in an instant.  Cruise control was a very rare option in 1967, and this car has it. The famous Fleetwood triple-tone horns were still there when I got to this car. Under the hood, 429 cubic inches (7.0 liters) of super-smooth Cadillac pushrod V8. This engine grew to 472 and then 500 cubic inches during the following few years. The paint shows some great patina. Did I buy the horns? Of course I bought the horns — I always bring my trusty lightweight junkyard toolbox when I head out to shoot some Junkyard Gems. Related Video:

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.