1983 Cadillac Seville Elegante Sedan 4-door 4.1l 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.

Cadillac CT5 spied with quad exhaust, could signal a hotter version is coming

The 2020 Cadillac CT5 just broke cover at the NY Auto Show this year, but one of our spy shooters caught one decked out in camouflage looking a bit different than the versions we've already seen. Instead of the dual exhaust on both the turbocharged four-cylinder and twin-turbo V6, this one has a quad exhaust outlet. We'll note that the placement of the quad outlets is one and the same with the two larger outlets on the CT5 already revealed. Also, the rest of the car looks relatively ho-hum. It has the wheels from the CT5 Sport trim, and the front end appears to most closely represent the Luxury trim. Some of the coverings appear to be opened up on that front end, possibly in an attempt to increase airflow. The most obvious change of them all is the quad exhaust, though, which brings us back to a conversation we had with a Cadillac representative at the car's initial media launch. As we were standing around gawking at the new CT5 in Sport trim, a brand representative told us all the "Sport" models (four-cylinders and V6s) would be getting quad exhaust, while the "Luxury" trims would get dual exhaust. We pointed at the CT5 Sport right in front of us and noted that it just had a dual exhaust setup. This ended up causing more confusion, as the Cadillac representative was adamant that they had seen the CT5 Sport with quad exhaust. When all was said and done, there wasn't exactly a clear explanation given for what was up with this mysterious CT5 model with quad exhaust, so we left it at that. We can guess, though. Perhaps the Cadillac rep had seen a Sport model with quad exhaust, but it was a future "V-Sport" variant we weren't allowed to know of yet. Cadillac hasn't revealed its future plans for the CT5 fully, but it did hint that at least one performance variant would be on the way. This camo'd up car here does not look anything like a full-on V model, but it could be the beginnings of a slightly more powerful version of the sport sedan. The 3.0-liter twin-turbo V6 makes 335 horsepower and 400 pound-feet of torque. Of course, there's always room for more power in this class, and a V-Sport model would slot in nicely to the new sedan's range. Keep in mind this all remains speculative in nature. However, our curious conversation with Cadillac combined with these spy shots signal that something could be afoot.

What if the mid-engine Corvette is really a Cadillac?

Call me crazy, but I'm not convinced the mid-engine Corvette is the next Corvette. The rumor is strong, yes. And, contrary to some of the comments on our site, Car and Driver - leader of the mid-engine Corvette speculation brigade - has a pretty good record predicting future models. But it's another comment that got me thinking: or maybe it's a Cadillac. There is clearly something mid-engine going on at GM, and I think it makes sense for the car to be a Cadillac. First off, check out how sweet the 2002 Cadillac Cien concept car still looks in the photo above. Second, there are too many holes in the mid-engine Corvette theory. There are too many holes in the mid-engine Corvette theory. The C7 is relatively young in Corvette years, starting production almost three years ago as a 2014 model. Showing a 2019 model at the 2018 North American International Auto Show would kill sales of a strong-selling car before its time. Not to mention it would only mean a short run for the Grand Sport, which was the best-selling version of the previous generation. More stuff doesn't add up. Mid-engine cars are, in general, more expensive. Moving the Vette upmarket leaves a void that the Camaro does not fill. There's not much overlap between Camaro and Corvette customers. Corvette owners are older and enjoy features like a big trunk that holds golf clubs. Mid-engine means less trunk space and alienating a happy, loyal buyer. Also, more than 60 years of history. The Corvette is an icon along the likes of the Porsche 911 and Ford Mustang. I'm not sure the car-buying public wants a Corvette that abandons all previous conventions. And big changes bring uncertainty - I don't think GM would make such a risky bet. Chevrolet could build a mid-engine ZR1, you might say, and keep the other Corvettes front-engine. Yes they could, and it would cost a ton of money. And they still need to fund development of that front-engine car. I highly doubt the corporate accountants would go for that. But a Cadillac? Totally. Cadillac is in the middle of a brand repositioning. GM is throwing money at this effort. A mid-engine halo car is the just the splash the brand needs to shake off the ghosts of Fleetwoods past. And it's already in Cadillac President Johan De Nysschen's playbook. He was in charge of Audi's North America arm when the R8 came out. A Caddy sports car priced above $100,000 isn't that unreasonable when you can already price a CTS-V in that range.