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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.

2015 Cadillac ATS, CTS recalled over brake issue

A problem with the brakes on the 2015 ATS and CTS has prompted Cadillac to issue a recall. According to the notice below from the National Highway Traffic Safety Administration, the issue revolves around the bracket that connects the brake pedal assembly and the rod that actuates the brakes. Even under normal operation, that bracket could fracture, impeding the ability to slow or stop the vehicle. That, as you're surely aware, could increase the risk of a crash. The issue affects a reported 2,163 vehicles in the United States. Owners will need to be bring their vehicles in to their local dealership to have those brackets replaced starting on August 1. See the complete recall notice below. RECALL Subject : Brake Pedal Bracket may Fracture Report Receipt Date: JUN 09, 2015 NHTSA Campaign Number: 15V358000 Component(s): SERVICE BRAKES, HYDRAULIC Potential Number of Units Affected: 2,163 Manufacturer: General Motors LLC SUMMARY: General Motors LLC (GM) is recalling certain model year 2015 Cadillac ATS and CTS vehicles. The affected vehicles have a bracket between the brake pedal assembly and the rod that actuates the brakes that may fracture during normal brake pedal operation. CONSEQUENCE: If the bracket fractures, the driver would not be able to apply the brakes, increasing the risk of a crash. REMEDY: GM will notify owners, and dealers will inspect the vehicle and replace any affected bracket, free of charge. The recall is expected to begin August 1, 2015. Owners may contact Cadillac customer service at 1-800-458-8006. GM's number for this recall is 15352. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov.

2019 Cadillac XT4 vs. other compact luxury crossovers: How they compare

After years of every other luxury car maker stocking their showrooms with trendy crossovers, Cadillac is finally joining the fray. Its latest addition is the 2019 Cadillac XT4, a tidy little crossover that proudly bears signature Caddy designs such as the tall slender taillights. And based on our first drive of the car, it impresses in many ways, such as its refined engine, classy interior and excellent ride quality. View 39 Photos That's good news for the little Cadillac, but it needs to stand out in a big segment. To see if it has any other areas where it shines, or maybe some where it's a bit dim, we decided to compare its specifications with those of four of the segment's bestselling compact crossovers, the Lexus NX 300, Acura RDX, Audi Q5 and BMW X3. And for good measure, we threw in the XT4's crosstown rival, the Lincoln MKC. View 15 Photos Here's a chart showing each of these vehicles' vital stats, including horsepower, torque, fuel economy, cargo space, passenger space and price. Further analysis follows. If you'd like to compare any of these vehicles with other luxury crossovers, be sure to check out Autoblog's Car Finder and Compare tools. Also, this is solely a comparison of basic specifications, and for more in-depth information on these cars, be sure to follow the links to our full reviews. And don't be afraid to check these cars out in person at their respective dealerships. Engines, transmissions and fuel economy With the exception of the Lincoln MKC's optional 2.3-liter engine, every competitor here resorts to the same type of engine, a turbocharged 2.0-liter four-cylinder, for its propulsion. And unsurprisingly, they make similar power, in the mid-200 horsepower and mid-200 lb-ft of torque range. Of the 2.0-liter engines, the standout is the Acura RDX, which produces a hearty 272 horsepower and 280 pound-feet of torque. It's second in power only to the Lincoln's optional turbo 2.3, which makes 285 horsepower and 305 pound-feet of torque. The bottom of the pack is the Lexus with 235 horsepower and 258 pound-feet of torque, but the next least powerful crossover is the Cadillac XT4, with just two more ponies than the Lexus, and the same amount of torque. View 22 Photos Though the Cadillac is nearly the least powerful, it does get to claim the best fuel economy numbers, rated at 24 mpg in the city, 30 on the highway, and 26 combined with front-wheel drive.