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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.

2022 Buick Enclave Review | More style and features doesn't mean better

The Buick Enclave has been updated for 2022, and it delivers some added style and additional features, it also doesn't do anything to lift Buick's three-row SUV beyond average for the segment. For the most part, the 2022 Buick Enclave is the same as it was when this generation launched for the 2018 model year. On the plus side, it has a powerful V6 and a smooth transmission. The cabin is incredibly spacious, and additional standard safety features are certainly welcome. The base price is also quite low for three-row premium SUVs at just under $44,000. Where this biggest of Buicks falls short is in the finer details. The engine isn't well isolated, allowing coarseness into the cabin. The cabin also doesn't rise to the level of Lincoln, Acura, Infiniti and Volvo -- brands that aren't exactly the upper crust of luxury, but certainly beyond Ford, Chevy or Honda. For instance, while its controls are easy-to-use, the buttons and knobs feel low rent and are obviously shared with cheaper GM models. There isn't anything that makes it particularly stand out from the competition, either. So while the Enclave is spacious, affordable and decent enough to drive, we think there are nicer options wearing luxury badges as well as vehicles like the Kia Telluride and Hyundai Palisade that surpass it in their uppermost trim levels.  Interior & Technology | Passenger & Cargo Space | Performance & Fuel Economy What it's like to drive | Pricing & Features | Crash Ratings & Safety Features What's new for 2022? The Enclave gets a variety of small updates mainly consisting of styling changes and feature additions. The exterior features new front and rear designs with new LED lighting front and rear. New wheel designs and exterior colors are also available. Inside, it's nearly identical to last year's model except for a new steering wheel, new push-button shifter and updated seat designs. A variety of other features have been added either as standard or as options such as a wireless phone charger, wireless Apple CarPlay and Android Auto, a power sunshade for the rear sunroof, a front camera, head-up display, rear-pedestrian alert, adaptive cruise control, rear camera mirror and surround view camera. Furthermore, lane-keep assist, blind-spot monitoring, automatic emergency braking with pedestrian detection, rear cross-traffic alert and automatic headlights are now standard. What are the Enclave interior and in-car technology like?

GM is quietly slashing prices on base models

While General Motors' fourth quarter financial figures haven't yet been released, the automaker seems to be weathering a potentially rocky time well, even beating third-quarter projections last year. To keep the climb going, the company is launching new base trims for several popular models that make them cheaper than ever but with tight dealer margins. The new entry-level trims are the Chevrolet Cruze L, Equinox L, GMC Terrain SL and Buick LaCrosse 1SV. Buyers lose some content by picking them, but the prices are slashed. According to Cars Direct, the biggest savings are on the LaCrosse, where customers pay $31,065, plus $925 destination, $2,570 less than the previous base 1SB trim but must accept things like 17-inch wheels and no cargo net in the back. If you're wondering how Buick can remove only a little equipment but cut the price so much, it's because the company also slashed dealer margins. According to Cars Direct, the difference between the invoice and MSRP for the LaCrosse 1SV is only around $150, compared to around $1,350 before. The disparity is even greater for the Cruze with an $81 difference in the prices, compared to about $600 for the LS version. Showrooms are expected to keep very low stocks of these trims, though. "Dealers use such vehicles to get people in the door, but they do not generally want to do high volumes of these strippers. The margins are next to nothing; they don't make much money off these cars," said Ed Kim, Vice President of Industry Analysis for AutoPacific to Autoblog. Dealers are also expected to advertise that these new base trims undercut major competitors. For example, the Cruze L rings up for about $2,320 less than a Honda Civic LX, according to Cars Direct. One potential drawback for buyers is that these models might not be eligible for incentives. While the attractive prices might get customers into dealers, folks may not actually end up driving home with these entry-level models. Kim indicated base trims also make up a small portion of the sales mix. "Consumers aren't asking for stripped out vehicles, even at the low end of the marketplace," he said. Featured Gallery 2015 Chevrolet Cruze View 9 Photos News Source: Cars DirectImage Credit: Chevrolet Buick Chevrolet GM GMC Car Buying Car Dealers Crossover Sedan gmc terrain cheap cars