2010 Cadillac Srx Performance Pano Sunroof Nav 20's 57k Texas Direct Auto 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.

40+ cars that barely avoid the gas guzzler tax

The Gas Guzzler schedule, with mpg ratings and charges that haven't changed since 1991, lays out which fuel-swillers owe what to Uncle Sam.
I started thinking about the "Gas Guzzler Tax" - considerably less well known as The Energy Tax Act of 1978 - when I was driving Dodge's new Challenger SRT Hellcat last week. Unsurprisingly for a car that can burn 1.5 gallons of gas per minute at max tilt, theoretically able to empty a full tank of premium in about 13 minutes, the Hellcat will be subject to the Gas Guzzler Tax schedule when it goes on sale.

Hotter Cadillac CT5-V and CT4-V spy photos, video hint at engines

Cadillac has some extra spicy V cars on the way, and this latest batch of spy photos and videos is more revealing than anything we’ve seen yet. We donÂ’t yet know the final name of these Cadillac V cars, but they are supposed to be the true replacements for the CTS-V and ATS-V. The CT4-V and CT5-V we saw previously are only mild performance variants of the regular sedans. Diving into the video seems more important than the photos on this one. Our spy shooters managed to capture great audio that allows us to take some guesses at whatÂ’s under the hood of these cars. The CT5-Vs in black and white camouflage sound like they have some gnarly V8s under their skin. We canÂ’t pick up a supercharger whine or a turbocharger whistling away, but weÂ’re not going to rule out the former. The CTS-V has a 6.2-liter supercharged V8 that makes 640 horsepower, and it wouldnÂ’t be out of the question to see this car rival it in power. We still havenÂ’t heard the CT6-V at full song, but the engine weÂ’re listening to here just doesnÂ’t strike us as the sound of a 4.2-liter twin-turbo V8 in that car. It sounds a lot more guttural, like the LT4 or LT5 V8 engines. Also, none of the CT5-Vs here sounded like they had manual transmissions. CT4-V spied View 40 Photos Moving to the CT4-V in the blue getup, it sounds a lot like a V6 is under the hood. This also makes sense when we consider that the ATS-V had a 3.6-liter twin-turbo V6 itself. Most important of all to note, is the evidence of a manual transmission. In one of the acceleration clips, weÂ’re able to hear the tell-tale sound of a driver pausing in acceleration for a split second to change gears. This is great news, folks. The manual is looking alive and well in the Cadillac sedan to us. Another clip of a CT4-V in black and white camouflage makes it sound like that particular model is equipped with an automatic transmission, indicating that Cadillac may be offering both transmission options on the new car. As for the rest of the photos, go ahead and take in all the close-up details. We got photos of the tires on the CT4-V, showing 255/35/ZR18s up front and 275/35/ZR18s in back. Michelin Pilot Sport 4 S rubber is used, telling us this thing is going to have a ton of grip. There are more vents, wider fenders and more aggressive styling throughout on these cars compared to the lower-performance V cars. Now that weÂ’re looking at them from much closer than before, the package is looking even more comprehensive.