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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 launches ATS-V, CTS-V Crystal White Frost editions

With power and performance enough to challenge the best that Europe and Japan have to offer, buyers in the luxury performance market shouldn't need much more reason to consider a new Cadillac ATS-V or CTS-V. But to make its fastest models that much more enticing, Cadillac is rolling out the new Crystal White Frost editions you see here. Available on the ATS-V coupe, ATS-V sedan, or CTS-V sedan (pictured), the new Crystal White Frost Edition models feature unique matte-finish white paint. They also get special wheels and the Carbon Fiber and Luxury packages as standard. Other equipment like Recaro buckets and microfiber-trimmed control surfaces are also available, among other options. GM's luxury division will only make 99 examples available across the three models – 39 ATS-V coupes, 31 ATS-V sedans, and 29 CTS-V sedans. So if you want to get your hands on one, you may have to act faster than these forced-induction performance machines will muscle their way around the track. Prices start at $71,460 for the smaller sedan and extend up to $94,900 for the larger one – those prices including destination but not taxes, registration, and other fees. For a full rundown of the equipment included and available, scope out the detailed press release below. Related Video: 2016 Cadillac V-Series Crystal White Frost Editions CELEBRATING THE FIRST-EVER CADILLAC ATS-V & THIRD-GENERATION CADILLAC CTS-V 2015-10-16 Cadillac today announced the exclusive Crystal White Frost Edition for all three of its new high-performance V-Series models – the 2016 Cadillac ATS-V Coupe and Sedan, and the 2016 Cadillac CTS-V Sedan. These new special edition models celebrate the ongoing launch of the first-ever Cadillac ATS-V and the third-generation Cadillac CTS-V super-sedan. They feature a special production run of low-gloss Crystal White Frost exterior paint, which first appeared for the world premiere announcements of the new V-Series models, receiving positive consumer reaction. The edition includes select V-Series wheels and Carbon Fiber and Luxury packages that are options on regular V-Series models. The 2016 Cadillac ATS-V Crystal White Frost Edition sedans start at $71,460 and coupes at $73,660. The 2016 Cadillac CTS-V Crystal White Frost Edition sedans start at $94,990, including destination freight charges but excludes tax, title, license and dealer fees.

2020 Cadillac CT5 finally appears, hopes you think it's a Charger

This is our first look at what we expect to be the 2 020 Cadillac CT5 sport sedan, a one-to-rule-them-all replacement for the ATS, CTS and XTS. The name follows the scheme set by the CT6 and XT5. The first thing that jumps out about the CT5 is the big hood scoop. We sincerely doubt that scoop will make it to production, and when combined with the scalloped shapes on the car's flanks, we and the spy photographer feel they're probably there to dupe people into thinking it's a weird Dodge Charger. The disguise isn't working, but the scoop surprisingly looks pretty good. Maybe Cadillac should consider putting one on an inevitable V model. Moving past the fake bodywork, we can see that this CT5 takes inspiration from the Cadillac Escala concept. It has the long, almost fastback cabin and extra rear quarter window of that concept. The headlights are slim horizontal units, too, though they still sweep back a bit to bridge the gap between current models and the Escala. We also see that there's a decent amount of distance between the front axle and the base of the A-pillar, so we suspect that the sedan will retain rear-drive and optional all-wheel-drive drivetrains. We don't have any other cars in the image to compare it to, but considering the cars the Cadillac CT5 will replace, we expect it's roughly the size of a CTS, maybe even a touch smaller to satisfy those who want a 3 Series/A4/C-Class size luxury sedan. It will also probably use one or more of the existing powertrains in the Cadillac sedan fleet, which include a turbo 2.0-liter four-cylinder, naturally aspirated 3.6-liter V6, and a twin-turbocharged 3.0-liter V6. We'll also probably see the production model sometime in 2019 since that's when the CTS and ATS will go to the big garage in the sky. Related Video: Featured Gallery Cadillac CT5 spy shots Image Credit: Chris Doane Automotive Spy Photos Cadillac GM Luxury Sedan cadillac ct5