1954 Buick Skylark Convertible - Restored 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.

GM SUV window switch recall urges owners to park vehicles outside

It's not unusual for there to be a lag between an automaker announcing a recall and the official documentation showing up on the National Highway Traffic Safety Administration website. So it's no surprise that a recent GM campaign took about a month to appear in its official capacity. However, there appears to be some big differences between the two reports with potential safety implications.
In late June, GM announced that it needed to recall 181,984 examples of the Chevrolet Trailblazer, Buick Rainier, GMC Envoy, Isuzu Ascender and Saab 9-7x from the 2005-2007 model years, plus the 2006 Chevy Trailblazer EXT and 2006 GMC Envoy XL. The new documents paint a slightly different picture with 184,611 needing repaired and different model years listed.
The reason for the fix is still the same, though. It's possible for fluid to contact the master power window switch module in the driver's door, which can corrode the part. Eventually this could cause a short circuit, leaving the buttons inoperable and potentially leading to a fire. But the new NHTSA documents add an important note: "A fire could occur even while the vehicle is not in use. As a precaution, owners are advised to park outside until the remedy has been made."

Buick working on Encore refresh

It's been three years now since the model we know as the Buick Encore (sold overseas as the Vauxhall/Opel Mokka) first hit the scene. That makes it about due for a bit of a facelift, and judging from these latest spy shots, that's precisely what General Motors seems to be up to. The nose of this prototype (intriguingly wearing Buick badges but German plates) is all covered up, so it's hard to tell what Buick and its European counterparts have in store for the front-end restyling, but the fact that they've covered it so extensively tells us that somethings afoot. The tail should also get new lights and bumper as well. You can fully expect GM to take the opportunity to refresh the cabin while it's at it with tweaked ergonomics and new equipment. Meanwhile our sources tell us the 1.0-liter inline-three from the new Corsa could find its way under the Opel/Vauxhall's hood to join the current lineup of four-pots, but it's too early to say whether that engine might find its way across the pond to the Buick version as well.