05 Chevy Suburban Z-71 on 2040-cars

Auto blog

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.

GM claims it's first to sell million 30+ mpg vehicles

As we continue to put together all the data for the year-end edition of By The Numbers, General Motors has announced that it sold more than a million vehicles in the US last year that achieved at least 30 miles per gallon on the highway. More impressively, GM managed this feat using multiple strategies including small vehicle size, turbocharged engines and hybrid or plug-in technologies across four brands (Buick, Cadillac, Chevrolet and GMC) accounting for 13 separate models. This number will grow even more in 2013 thanks to cars like the all-electric Spark, the diesel Cruze, the range-extended Cadillac ELR and the Buick Encore compact CUV.
GM's small car sales were up 39 percent last year helping to attain this million-sales mark for 30-mpg models, and almost 40 percent of all GM sales consisted of cars with fuel-efficient I4 engines. In regards to more advanced means of improving fuel economy, GM says that it plans on having 500,000 vehicles with "some form of electrification" on the road by 2017.
Scroll down for the full list of GM's million 30+ mpg cars as well as an informative press release.

Autoblog In Cuba: 1957 Chevy Bel Air Review

If you've been following the Autoblog In Cuba series, you may remember that my efforts to rent a car in the country were ultimately unsuccessful. Misinformation, bad planning, and a lack of rental car inventory conspired to disrupt my hoped-for driving adventure. I discovered in my week of exploration, however, that the terrific thing about Havana is that there's always another adventure to be found – if you're willing to look. A car I could drive myself might have been impossible to come by, but a ride to remember was not. After all, even when reviewing a new car, I've found that impressions about the car and the route can be credibly formed from the right seat. Starting from the parking lot of the grand Hotel Nacional, finding an interesting car for hire is as simple as walking up and down the block. Scads of classic American iron wait just outside the hotel gates, in a riot of colors and conditions befitting the tropical climate. Fords from the 1940s are plentiful – more sedans than coupes – and the glory days of General Motors are represented by enough Pontiacs and Cadillacs to fill a Bruce Springsteen B-sides album. But the Chevy Bel Air is the king of the road here, by some margin. View 30 Photos I settled on a burnt orange 1957 Chevy Bel Air convertible, in tourist-appropriate condition. I was looking for a hardtop at the request of my crew's audio/video needs, but settled on a burnt orange 1957 Chevy Bel Air convertible, in tourist-appropriate condition. This car might look good as a prop in the background on your vacation photos – hair blowing in the breeze with the ocean at your back, parked in front of Che's face in Revolution Square, etc. – but was far from pristine on a closer inspection. A perfect representative of the Cuban average. At least the price was right: $50 for two hours to make it 12 miles to Hemingway's house, and back. My driver was a kid named Daniel who looked to be about 20 years old. The Chevy doesn't belong to him, he co-drives it with the owner, but he was able to give me the basic mechanical rundown. The eight- or six-cylinder engine that Chevy shipped this convertible with was long gone. No surprise there, as nearly every American-made car I'd ridden in so far was powered by some belching Mercedes diesel. Despite it's clattering note, Daniel said the lump under the hood of the '57 drinks gas: a four-cylinder of Russian origins, pulled out of a GAZ Volga as best I can understand.