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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.

2020 Chevy Silverado HD vs. 2019 Ram, Ford heavy duty trucks: How they compare on paper

Last year was all about the latest in light-duty full-size pickup trucks, so this year, Ram, Ford and Chevy are launching the heavy-duty variants. The first out of the gate is the redesigned 2019 Ram 2500 and 3500 HD, and Ram dropped all the pertinent specs with the reveal. Chevy followed with the new Silverado HD in Chicago, and Ford revealed updates to the Super Duty at the same show. Ford hasn't released details on output, payload capacity, towing capacity or pricing for the updated Super Duty. As such, we'll be comparing the current Super Duty with the all-new Silverado HD and Ram HD. Both Chevy and Ram have revealed full specs for each of their respective trucks, leaving out only pricing, which we've estimated based on the outgoing models. You can see the raw details in the chart below, followed by extra information and analysis. Some things to keep in mind: These specifications cover all versions of the Ram HD, Silverado HD and Super Duty, such as 2500 and 3500 models, and all the way up to F-450. Specifications can vary widely based on engine, drivetrain, cab and bed configurations, so be sure to take a close look at the specific model you're interested in when you get particularly serious about buying. And of course, be sure to check out our car comparison tool if you'd like to look at other trucks on the market. Engines and drivetrains All three of these trucks offer gasoline and diesel engines, but only the Ram has two versions of the diesel. Starting with gas engines, Ram's 6.4-liter V8 has the power advantage with 25 more horsepower than the next-most-potent Super Duty, but the new Silverado HD's 6.6-liter V8 takes the torque crown at 464 pound-feet, nearly 35 more than the other two gas engines. The Ram is also the only one to pair an eight-speed automatic with the gas engine, whereas the Ford and Chevy make do with a six-speed. With diesel engines, horsepower is a weak point for the Ram. The Ram's entry-level turbo 6.7-liter inline-six is the weakest, as the only one with under 900 pound-feet of torque and under 400 horsepower. Even the high-output version only makes 400 horsepower, while the Chevy makes 445 and the Ford 450. But the tables turn with torque, as the Ram makes a best-in-class 1,000 pound-feet followed by the Ford's 935 and the Chevy's 910. Both the Ram and the current Super Duty diesels each get a six-speed automatic, but the new Silverado HD's diesel gets a 10-speed unit.

Leak reveals GM's 2017 heavy duty diesel trucks to get 910 lb-ft of torque [UPDATE]

UPDATE: Chevrolet officially announced specs for the 2017 Silverado HD and the rumors were true. The truck's new Duramax 6.6-liter turbo-diesel V8 puts out 445 horsepower and 910 pound-feet of torque. Chevrolet says the new motor produces 19 percent more torque and 12 percent more horsepower, while producing 35 percent fewer emissions. Overall, the new engine is a big improvement over the current motor, which generates 397 horsepower and 765 pound-feet of torque. According to Truck Trend, GM's newest heavy duty pickup trucks will pick up quite a bit more power and torque. The publication spotted a recent GM Powertrain ordering catalog that had the engine specs for the 2017 model year and managed to get some screenshots before the catalog was taken down, and they can be viewed here. The screenshots revealed that the 6.6-liter turbodiesel V8 powering the Silverado and Sierra heavy duty models will boast 445 horsepower and 910 lb-ft of torque. This is a substantial gain over the current models' 397 horsepower and 765 lb-ft of torque, and as Truck Trend points out, it exceeds the Ford Super Duty line's horsepower output of 440, but comes short of the 925 lb-ft rating. Truck Trend credits part of this output gain to the new intake system GM will introduce on the 2017 heavy duties. The intake gets 60 percent of its air from a scoop on the hood, with the other 40 percent coming from behind one of the front fenders. GM doesn't reveal horsepower figures in the press release about the scoop, but it does say the cooler air helps with maintaining the engine's output, and that the scoop does produce a ram-air affect, providing more air at speed. As we know, more air plus more fuel equals more power, but there's likely more to the power increase in this engine than only the intake. Related Video: News Source: Truck Trend via MSN Chevrolet GM GMC Truck Diesel Vehicles