1985 Cadillac Eldorado Biarritz Convertible 2-door 4.1l Only 81 K Miles on 2040-cars

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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.

Cadillac dealers frustrated over Escalade production snarls

Lincoln went through it during the launch of the MKZ last year, Jeep went through something similar with its Cherokee launch, and now the 2015 Cadillac Escalade has apparently caught the bug: dealer delivery delays because of quality control checks. Automotive News reports that Cadillac dealers have been waiting three times longer than usual - a month or more - from the time an Escalade leaves the assembly line to when it gets delivered. Worse, dealers are saying they don't always know where their vehicles are in transit, or when they are set to arrive. The situation has upset customers who have put down deposits and things have gotten so bad that some dealers have reportedly stopped taking pre-orders.
Cadillac says it has the delay, called "dwell time," down to two weeks, and it expects to cut that to a week by the beginning of September. The company said "a lengthy quality-assurance process on some interior parts" has caused the lag, the report citing additional issues with figuring out which vehicles should be delivered first. A spokesman said that more trucks have been put in the distribution system to work through the backlog, but it's clear it's still going to take some time to set things right, with one dealer telling AN that cars ordered in February and March still haven't arrived.
Brand chief Kurt McNeil said additional personnel are at the Escalade's Arlington, Texas factory to speed up the checks, and spreadsheets tracking every order have been distributed to field staff. Even with the snafu, though, the Escalade is Cadillac's best seller through July.

Cadillac Super Cruise gets system enhancements, more compatible highways

Cadillac is updating Super Cruise to make it available to use on more highways, and it will offer better performance, too. Previously, Super Cruise worked on about 130,000 miles of highways across the continent. This update expands that to 200,000 miles. That's because GM has mapped that many more miles to be compatible with its lidar mapping system. As for the performance update, Cadillac says there will be enhancements to the driver monitoring system. That's the key feature that separates Super Cruise from all the other systems out there, making it a truly hands-free experience. It's able to quickly tell whether your eyes are on the road, and it reacts accordingly. We asked for details about the improvements, but all Cadillac would tell us is that there are "slight refinements to the driver attention system to even more accurately detect driver attention." Perhaps it's related to reports of sun-related issues plaguing the infrared monitoring camera. We can't tell you for sure. As for the extra miles, Cadillac says some added highways now include limited intersections and traffic control devices. Basically, there may be a stoplight or some cross traffic thrown into the mix now. Since GM has actually gone and mapped these areas, the car will tell you to take back control when approaching a railroad crossing, pedestrian crossing, stoplight or stop sign. Cadillac included a map (above) depicting the original and new Super Cruise compatible highways. You'll notice there are a lot more highways in the midwest and southeast, in addition to almost being able to cross the entirety of Canada now. Things are still a bit sparse in the western part of the country, but there aren't as many highways out there anyway. Owners of 2018 and 2019 Cadillac CT6s can expect to get the upgrade, but it's not as easy as you may think. Folks will have to take their CT6 in to the Cadillac dealer, where the "system enhancement" will take place. However, that enhancement doesn't include the additional miles. Cadillac says that update will be sent out over-the-air throughout the summer and fall. Updates for Super Cruise seem to be coming out with regularity. Last year Cadillac updated the system for easier activation, better lane placement (for passing large vehicles) and added gauge cluster messages for more information. We happen to love using the technology here at Autoblog, and gave it our 2019 Technology of the Year award.