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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.

2024 Buick Envision debuts with family styling, massive interior screen

Buick showed us the 2024 Envision in a single image nearly a year ago, and while the wait’s been a long one, we now have all the details on this crossoverÂ’s thorough refresh. And yes, even though weÂ’re already rather deep into 2024, this refresh is indeed for the 2024 model year Envision. The big changes outside are plenty visible at first glance as you see the Wildcat EV-inspired front end thatÂ’s been splashed across BuickÂ’s SUV lineup. The Envision looks largely similar to before around back, though Buick notes itÂ’s using new badging on the rear fascia. Plus, new 20-inch wheels are standard on both the ST and Avenir trims, while the base Preferred trim makes do with 18s. Its powertrain is all carryover, which means the only engine option is a 2.0-liter turbocharged four-cylinder that sends 228 horsepower and 258 pound-feet of torque through a nine-speed automatic transmission. One difference for 2024, though, is that all-wheel drive is made standard, eliminating the cheaper FWD versions. BuickÂ’s most substantial changes are inside the 2024 Envision. It features a standard 30-inch display that stretches across the dash encompassing the instrument cluster and the infotainment screen. This also means it has a new center stack and center console design that better fits this massive display. Many of the hard climate control buttons are eliminated from the center stack, but some key, often-used toggles remain for easy use. The button-operated “shifter” layout on the center console is gone, too, replaced by GMÂ’s column shifter slowly making its way across the entire General Motors lineup. In its place is a massive, shiny volume knob and additional storage capacity. As for luxuries and styling, the Envision adds new red/black and gray/blue interior color combos, and the front seats themselves are new to be more comfortable than before. Ambient lighting is added to the cabin, and Buick says itÂ’s upped the trim quality on the center console. If you opt for the ST, you get a flat-bottom steering wheel for a sportier appearance, too. More driver assistance features are being made standard for 2024, though Super Cruise is not one of them despite it being initially touted as one of the new technology items coming to the Envision this year. When queried about its absence, a Buick spokesperson told us this: “The 24MY Envision will no longer debut with Super Cruise, but we plan to bring it to Buick vehicles soon.

2017 Buick LaCrosse an evolution of sharp Avenir concept

After years as a bloated, uninspiring, but comfortable near-premium sedan, Buick has taken the wraps off a leaner, lither, far more stylish LaCrosse. The third-generation model has just made its debut at the 2015 Los Angeles Motor Show. While there's a lot to talk about, let's first address the new, Avenir-inspired sheetmetal. The fascia is basically the concept car smoothed over into production form, featuring the same winged trishield. In place of the chrome-trimmed waterfall, the LaCrosse gets a blacked-out, recessed grille with a chrome surround. It looks good in photos but it's better in person, adding a real sense of complexity and depth to the front end. The headlights and lower fascia, meanwhile, adhere closely to the concept. The same cannot be said of the LaCrosse's tail. While the taillight lighting pattern is similar, the overall shape of the lighting element is radically different, refining the design featured on the back of the Regal. Also gone, sadly, is the Avenir's boattail rear deck. Instead, the LaCrosse gets a small rear deck that curves up into a pleasant duckbill spoiler. The rest of the tail is pleasantly restrained. Perhaps the weakest point is the profile, where Buick has instituted a "split-spear" design, featuring a strong shoulder line above the rear wheel well, which sits below an even stronger character line that curves down and towards the front of the car. It strikes us as just a little too much, like the Impala. Underneath that sheetmetal, Buick has managed to trim nearly 300 pounds of body fat, nearly half of which came from the vehicle's actual structure. That 300 lbs, according to Buick's engineers, is equivalent to a Kenmore side-by-side refrigerator, in case you needed a helpful comparison. Despite the weight savings, Buick has upped the torsional rigidity for this new model by 15 percent. The LaCrosse's cabin features a strong, cockpit-like design, with a high, floating-bridge center console. This is possible due to Buick's adaption of the Electronic Precision Shift system, introduced earlier this month on the new Cadillac XT5. Despite the new-fangled console design, Buick's retained the wraparound cabin style introduced on the second-gen model. Based on a quick crawl around the interior, space is great in front, although ingress in back is somewhat difficult due to the roofline. You're probably wondering why we haven't said anything about the mechanicals just yet.