No Reserve 2.8l 4x4 Aluminum Wheels Front Disc/rear Drum Brakes A/c 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.

Surprise! GM putting aluminum in next-gen pickups

Last month, General Motors launched a series of ads touting the benefits of steel over aluminum – specifically, with regard to the Chevy Silverado versus the Ford F-150. (Kind of. We're not sure what a grizzly bear has to do with anything.) We took issue with the ads, with editor in chief Mike Austin saying they "reek of insecurity, and distract from the Silverado's strengths that could be used for positive advertising." But what bothers us more, is that yet another report surfaced claiming anti-aluminum GM will indeed use the weight-saving material in its next-generation fullsize trucks. On Tuesday, GM announced a $877-million investment for its truck plant in Flint, MI. But Reuters says that huge overhaul is because the trucks will use "substantially different equipment than the tools GM uses today." The report specifically states, "People familiar with the company's plans say GM's next-generation pickups and SUVs will make use of various materials, including aluminum and lightweight steel, to shed weight and gain fuel efficiency to meet tougher federal standards." The Silverado already uses a few aluminum components in the engine and hood, and if more widespread use will help GM build its best fullsize trucks ever, then that's great. Honestly, we have no reason to doubt that aluminum will be used in the next Silverado and GMC Sierra. We just hope GM remembers that nothing is ever truly deleted from the bowels of the Internet when it launches the subsequent "look how great aluminum is!" campaign. Related Video: News Source: Reuters Green Plants/Manufacturing Chevrolet GM GMC Truck aluminum steel

GM tells owners not to use SUV wipers due to fire risk

General Motors is recalling 31,685 examples of the 2016 Buick Enclave, Chevrolet Traverse, and GMC Acadia because a short circuit in the windshield wiper motor can potentially lead to a fire. Due to the danger, the company is asking owners not to use the wipers until the problem is fixed, according to The Detroit Free Press citing the Associated Press. A manufacturing defect in the wiper motor cover means that the electrical terminals can come into contact and cause a short. The part could "melt, smoke, or catch fire," according to a statement from GM. The company will get them fixed immediately, and dealers will replace the cover. If there's bad weather at the time the owner specifies to get the recall work completed, the automaker will come pick up the crossovers. Depending on parts availability, the automaker will supply a rental car for customers, as well. The issue was discovered at the factory. According to the company's statement, only 6,405 actually made it to customers, and they were notified immediately by overnight letter. The rest were in dealer stock. The affected crossovers carry build dates between August 18, 2015 and September 24, 2015. Of those, there are 29,295 in the US and 1,073 in Canada. GM Statement: General Motors has told the National Highway Traffic Safety Administration that it will recall approximately 29,295 2016 model year Chevrolet Traverse, Buick Enclave and GMC Acadia SUVs in the U.S. because the front windshield wiper motor may overheat when in use because of a manufacturing defect. In some cases, the front windshield wiper motor cover may melt, smoke or catch fire. The approximately 6,405 customers who have taken delivery of these vehicles were notified by overnight letter and are urged to contact a GM dealer as soon as possible to arrange a service appointment. These customers should not use the front windshield wipers until they have been repaired. If weather conditions prevent driving the vehicle without using the windshield wipers, GM will arrange to pick up the vehicle for servicing. If repair parts are unavailable, GM will provide a rental car at no cost until parts become available. The total population, including Canada, Mexico and exports, is approximately 31,685. About 25,280 of these vehicles are in dealer stock and will not be sold until repairs are made.