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GM cancels CES date, possible Cadillac EV crossover unveiling

General Motors is bailing on CES 2020, the big annual consumer technology showcase in Las Vegas, after its plans to showcase an autonomous, electric vehicle were derailed by the 40-day UAW strike this fall. New evidence suggests that vehicle may have been Cadillac’s upcoming EV crossover. MotorTrend got GM to confirm that it was pulling out of CES, which takes place in January, though CEO Mary Barra in an interview said only that the vehicle they had planned to unveil was electric and featured autonomous technology — two key areas where the automaker plans to focus in the future. The automaker said the model simply wasnÂ’t ready. But MT said it then received an invitation from Cruise, GMÂ’s self-driving vehicle subsidiary, to an event later in January in San Francisco. That suggests the automaker could have been planning a different vehicle to show at CES than its self-driving Cruise AV “robotaxi,” which famously features no steering wheel or pedals. Cadillac showed off a digital rendering of a forthcoming unnamed electric crossover in Detroit in January, saying only that it would be available in both two- and all-wheel drive and sold globally. GM has said Cadillac will be its lead brand as GM delves into EV technology. The speculation is that the crossover will also feature CadillacÂ’s Super Cruise semi-autonomous highway driving technology. Whatever the vehicle was, or is, Barra said itÂ’ll be ready for viewing in the first half of 2020. GM has been developing the Chevrolet Bolt-based Cruise AV, a fully autonomous car, alongside its Cruise self-driving technology subsidiary, and building them at Orion Assembly plant near Detroit. It had once planned to debut a fleet of ride-hailing Cruise AV robot axis by the end of this year but realized the timeline was not realistic. Testing of the robot axis continues in San Francisco, Phoenix and Michigan. As for timing on a new timeline for fleets of Cruise AVs to take over the streets, Barra wouldnÂ’t show her hand. “We see a line of sight but weÂ’re not going to put another date out there,” she told MT, adding it was more important to “gain customer trust and usage.” As for Cadillac, any new reveal would likely come after the all-new Escalade SUV in February and amid a product blitz that will see it introduce a new or redesigned model roughly every six months through 2021.

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 extending warranties on Cadillac CTS-V and Chevy Camaro ZL1 for supercharger issue

Okay General Motors, we've sat by and watched you recall the compact cars, crossovers and pickup trucks, and aside from reporting on it, we've been fairly quiet. This, though, this will not do. We can almost tolerate the recalls on the bread-and-butter cars, but leave the performance vehicles alone.
According to a report from The Car Connection, GM has discovered a problem with the superchargers of the 6.2-liter V8s found in the Chevrolet Camaro ZL1 and the Cadillac CTS-V. Apparently, the issue rests around the internal bearing shaft grease, which can become contaminated (we aren't sure with what). If left unchecked, it'll first lead to a rattle at idle, which goes away under slight throttle. The real warning stage is when a high-pitched squeal develops, signaling that the bearing shaft has failed. Naturally, severe engine damage is the next step (although it's possible that the engine will also just refuse to turnover, although neither case is desirable).
According to TCC, GM will replace the superchargers on vehicles that have exhibited symptoms of bearing shaft failure free of charge. It will also, allegedly, be extending the warranty on all supercharged ZL1s and CTS-Vs to 10 years or 120,000 miles (whichever comes first), from the date of purchase. Officially, only 2009 to 2013 CTS-Vs and 2012 to 2013 ZL1s are suffering from this issue.