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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 GMC Sierra Heavy Duty First Drive Review | King of the haul

JACKSON HOLE, Wyo. — The 2020 GMC Sierra Heavy Duty is a bit of a mixed bag. It excels at the tasks an owner is likely to require from a massive pickup truck, but the interior is a definite letdown. Taken as a whole the truck boasts several class-leading specifications and features that make up for the lackluster look and feel of the cabin. And it's much more successful than the mechanically similar Chevy Silverado HD, which shares the Sierra's weaknesses but few of its subjective strengths. GMCÂ’s Sierra HD may share most of its major bits and pieces with the Silverado, but the strongest reason to pick the GMC over the Chevy is that the SLE and SLT trims of the Sierra HD are legitimately handsome. And the rugged, off-road-themed AT4 package is new for 2020 with a blacked-out look that we think a lot of buyers are going to love. Even the ostentatious, chrome-dipped Denali trim looks classy compared to the in-your-face look of FordÂ’s Super Duty line. The same canÂ’t be said for the Silverado HD, which, depending on trim level, varies from garish to just plain ugly. The six-function MultiPro tailgate is the next major differentiator. ItÂ’s not perfect — and mounting a hitch ball in the receiver renders some of its functionality unusable — but itÂ’s unique and potentially very useful to a subset of truck customers. WeÂ’ve covered MultiPro several times already, but if youÂ’re still not clear on its advantages, watch the video below for a demonstration (that's a light-duty Sierra in the video, but the tailgate works the same). This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Another unique selling proposition is the AT4 trim, since Chevrolet doesnÂ’t (yet) offer its Trail Boss package on the Silverado HD. The most obvious competitor to the Heavy Duty AT4 is the Ram Power Wagon, and the GMCÂ’s 3,615 pounds of payload and 18,500 pounds of towing capability handily outdo the RamÂ’s ratings of 1,660 and 10,620. Granted, the trucks arenÂ’t aimed at quite the same buyer — the Power Wagon has legit off-road credibility thanks to upgrades like its electronically disconnected sway bars, 12,000-pound Warn winch, and a forward-facing trail camera. But unlike the GMC Sierra AT4, it isnÂ’t available with a diesel. No matter; those aiming for a rough-and-tumble appearance in a heavy duty now have a couple options.

GMC Hummer EV will weigh 9,046 pounds

In the 2000s, Hummer's unique breed of off-roaders summoned a dark cloud of disapproval from environmentalists because they were gas-guzzling SUVs with mammoth dimensions. GMC's born-again Hummer EV will escape the gas guzzler label by running solely on electricity, but it will be even bigger and much heavier than its predecessors. Enthusiast site GM-Trucks reported the Hummer EV will tip the scale at 9,046 pounds (4,103 kilos if you're outside of the United States) in its quickest configuration, and a GMC spokesperson told Autoblog that figure is accurate. For context, the H1 Alpha released for 2006 (and often considered the ultimate Hummer) weighed 8,113 pounds, the H2 checked in at 6,614 pounds with the 6.2-liter V8, and the H3 was comparatively light at 4,600 pounds. When it lands, the Hummer EV will be one of the heaviest new cars sold in the United States. Part of its plumpness can be attributed to its colossal dimensions; it measures 216.8 inches long, 86.7 inches wide, and 81.1 inches tall. In comparison, the H1 stretched 185 inches long, 87 inches wide, and about 78 inches tall. The electric powertrain also played a major role in slinging the Hummer's weight into dually pickup territory. Batteries are heavy, and the Hummer EV's Ultium pack reportedly has a capacity of over 200 kilowatt hours. It has three electric motors, too. Note the 9,046-pound figure applies only to the sold-out Launch Edition model, which will offer 1,000 horsepower, the aforementioned 200-kilowatt battery, and the supercar-like ability to hit 60 mph from a stop in three seconds. GMC will launch cheaper, slower, and presumably considerably lighter variants of the truck in the early 2020s. Although SUVs are often heavier than comparable trucks due to the additional sheet metal, the people-hauling Hummer should weigh less than the cargo-carrying variant. As we reported in April 2021, its output will be limited to 830 horsepower because it's 20 inches shorter than the truck, and the bigger battery pack doesn't fit in this footprint.