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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.

2018 Buick Enclave First Drive Review | Fortress of quietude

ATLANTA, Ga. — The 2018 Enclave is part of Buick's effort to reinvigorate its brand, positioning itself as a maker of "attainable luxury" vehicles. That means a total redesign, a number of safety and technology upgrades, and the introduction of the Avenir sub-brand (think of that last one as sort of the Denali of Buick). It also means more space and more luxury. With this in mind, we traveled to Atlanta to get to know the new Enclave, both in the city and on a long drive through the Blue Ridge Mountains into North Carolina. Our first impressions of the new Enclave came not from the driver's seat, but from a captain's chair in the second row (which is the traditional seating arrangement for a true captain, of course). We were riding from the Atlanta airport to a studio to learn more about the vehicle. That very first impression was, "Wow, this interior is really nice." The leather upon which we sat was soft, smooth to the touch, and interesting in its shapeliness. Looking around the cabin, we saw a lot of gentle curves and thoughtful accents that made the inside of the Enclave feel downright premium. It was a fresh and airy sense of taste though, and definitely not the seasoned wood-and-whiskey stodginess one might expect from the Buick name. Our second impression: "Boy, it's quiet in here." Heading toward downtown Atlanta on the freeway, we were unable to pick up wind noise, and only just a smidge of road noise as the Enclave trundled over the occasional rough patch of pavement. This is, of course, completely intentional on the part of Buick. The windshield and front windows use acoustic glass. The doors are triple sealed for a tighter, quieter fit when closed. Buick has insulated the Enclave with more sound deadening and included active noise cancellation. "Our goal is to make it as social as possible," said Dean Perelli, chief engineer for the Enclave. And social it is. It is easy to carry on conversation across the Enclave's three roomy rows. When we got out of the Enclave, we had a chance to take it in from the outside. It features attractive, wing-like lighting front and rear. The front signature lighting uses technology called "Evonik Acrylite," (a mouthful, even for the engineers) which is a polycarbonate material arranged in a dazzling, faceted and delicate array. The paint finishes we saw were attractive, with depth.

2024 Buick Envista First Drive Review: Budget belle

ANN ARBOR, Mich. — Want an affordable small crossover that looks and feels good, might even impress your passengers, and wonÂ’t make your eyes go cross while configuring one online? BuickÂ’s got a new one for you, and itÂ’s pretty slick. The 2024 Buick Envista starts below $25,000, and in a world of rampant inflation, it actually lives up to what you thought that much money could get you a few years ago. You should be pleasantly surprised with what you get — just donÂ’t ask for all-wheel drive or an engine upgrade. To these eyes, the Envista looks good from all angles. While the refresh of the Buick Encore GX for the 2024 model year was the first production vehicle to use design elements inspired by the Buick Wildcat EV concept, the Envista marks the “first complete expression” of that new design language, as Buick design boss Bob Boniface put it. No, itÂ’s not a two-door coupe like the Wildcat, and it still doesnÂ’t have the WildcatÂ’s electric powertrain, but those looks translate even better to a new vehicle designed from the ground up. It has the pointy nose, the high, wing-like headlights and the new tri-shield Buick logo that also made its way onto the Encore. But the Envista has a swept-back profile, with the roofline giving way to a toned-down example of rear shoulders flaring out over the wheels. The nicely tucked rear end is home to lighting that better matches the units up front. ItÂ’s lower and sleeker than the Encore, putting itself more visually at the car end of the crossover spectrum, while the GX leans more toward SUV. And youÂ’ll get a more carlike drive from the Envista, too. ThereÂ’s only one powertrain: a turbocharged 1.2-liter three-cylinder powering the front wheels. ThereÂ’s no AWD option here, and no four-cylinder. Not even a 1.3-liter upgrade like in the Encore GX. There is a traditional automatic transmission with only six forward gears, and no dreaded CVT in sight. ThereÂ’s very little you could do on the order sheet to change the way the Envista drives — pick a version with the upgraded rear suspension that Buick claims provides a more superior ride (a Watts link for those who care) or change up the wheel size, maybe — but certainly not in terms of what drives the wheels. You get 137 horsepower and 162 pound-feet of torque in the Envista, figures that are awfully low these days, but that we also found perfectly suited to this mission.