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GM recalls 61k more vehicles in three campaigns

Following a stop-delivery order for its new midsize trucks and a rash of recent recalls, General Motors is issuing three more campaigns covering 60,575 vehicles in North America with 57,182 of them in the US. As of October 1, the automaker has issued a total of 74 recalls (see the ridiculously long chart to the right) this year covering 26,495,070 units in the US.
The largest campaign covers 46,873 examples in the US of the 2008-2009 Pontiac G8 and 2011-2013 Chevrolet Caprice Police Patrol Vehicle imported from Australia. It's possible for the driver's knee to hit the key and make it move from the "Run" to "ACC" position while driving. GM says its Holden division is developing a fixed-blade key that's supposed to fix the problem by only allowing it to rotate toward the "On" position. There has been one crash caused by this fault but no injuries or fatalities.
The second recall is for 10,005 units of the 2004-2007 Cadillac CTS-V and 2006-2007 Cadillac STS-V because "the fuel pump module electrical terminal may overheat." This can cause a flange to melt and allow the pump to leak fuel. GM specifies that the remedy for the CTS-V is replacing the fuel module and fuel tank jumper harness, but it doesn't specify how the STS-V is being repaired.

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.

Ecto-1 is the barn find of a lifetime in 'Ghostbusters: Afterlife'

Following the women-led "Ghostbusters" reboot in 2016, a completely new chapter in the franchise will be born in 2020. "Ghostbusters: Afterlife" will feature a fresh cast, a modern story and cutting-edge cinematics. Yet, one thing will remain the same: the famous Ecto-1. The first trailer for the upcoming film shows the classic movie car — a highly modified 1959 Cadillac Miller-Meteor Futura Duplex — still has a little gas in the tank, even after sitting in a barn for more than 30 years. "Afterlife" follows a character played by Finn Wolfhard (Mike from "Stranger Things") as he, his sister and his mom are evicted and move to an inherited farmhouse in Summerville, Oklahoma. The property, previously owned by the kids' grandfather, turns out to be a secret storage facility for all of the old Ghostbusters gear. Grandpa was Dr. Egon Spengler. The research, the uniforms, the ghost traps and the Ecto-1 are all tucked away and out of sight. Trevor, Wolfhard's character, finds the automotive relic and is able to start the old box of bolts. He and his sister Phoebe are then seen careening the Ecto-1 through a field and testing out the car's gunner seat in town.  Paul Rudd enters the picture as Mr. Grooberson, a teacher at the kids' school who shows an interest in Phoebe's ghost trap. As somebody who remembers the Manhattan Crossrip well, Grooberson schools the kids on the past and, with them, explores their connection to it all.  The trailer closes with a Bill Murray quote from the original film: "Call it fate, call it luck, call it karma ... I believe that everything happens for a reason." He, along with Dan Aykroyd and Sigourney Weaver, are expected to have some sort of involvement in the new movie, though it's unclear what that will be. We'll find out more next year when "Ghostbusters: Afterlife" opens summer 2020. P.S. How about that Ford Ranchero GT?