2007 Chevrolet 2500 Hd 6.0l 2wd on 2040-cars

Auto blog

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.

Chevy Bolt EV's battery shows big improvements over Spark's

Plug-in vehicle battery technology moves fast, and all you need to do to see this in action is to take a look at the new 60-kWh lithium-ion pack inside the 2017 Chevy Bolt EV. Well, you need to do that and then compare it to the battery packs inside of GM's other plug-in vehicles. And you don't even to go as far back as the EV1 to see progress. Let's start with what we know about the new Bolt's pack. It is supposed to drive the Bolt EV over 200 miles on a full charge. It weighs 960 pounds and is made up of 288 cells. Chevy's other all-electric car, the limited-availability Spark EV, had a 19-kWh pack and offered 82 miles of range. It had 192 cells and weighed 474 pounds. So, in the few years since the Spark EV was released, GM engineers have figured out how to get three times the energy capacity and almost two-and-a-half times more range out of a pack that weighs only about twice as much. And that doesn't even get to the price drops. GM has figured out how to get 3x the energy capacity and almost 2.5 times more range out of a pack that weighs only twice as much. Speaking of those 288 cells, that number might sound familiar to regular readers because that's exactly how many are in the new Chevy Volt. But the packs in the Volt and the Bolt are entirely different beasts. For one thing, while the Volt cells are made by LG Chem in Holland, MI, LG Chem will make the Bolt's cells in South Korea. The cell chemistries are also different. We spoke with GM engineer Tim Grewe (again) and while he declined to answer some of our Bolt battery pack questions until more details are unveiled at the SAE World Congress in April, he was able to explain a few things. "The cell inside the Chevy Bolt EV was specifically designed for EV range so it's up on energy," he said. "That's a different cell chemistry than on the extended range Chevy Volt, which is a smaller pack, smaller energy but more power per cell. We work with all of those vehicle requirements and customer demands and we say how do we meet this and we change the chemistry to make it all work." Comparing the 60 kWh in the Bolt and the 18.4-kWh pack in the Volt is really one of those apples to oranges issues, he said. "If you look at the Volt battery pack, how it went from where it was and where it's up to, from 38 miles to 50 miles, that was basic, overall industry improvement. Now, the 18 [kWh] to the 60 [kWh] is extended range vs. EV.

Recharge Wrap-up: Chevy teases Bolt driving range, China pursues EV subsidy cheaters

Chevy is teasing the Bolt's driving range, which it is set to reveal on Tuesday. It will certainly be able to travel more than 200 miles between charges, but the second and third digits in that value, as it stands today, are still question marks. On its Facebook page, Chevrolet is asking fans to try to guess the official range. Of course, Tesla fans have already started posting their own snide remarks in the comments. Chevy fans are certainly hoping to see the Bolt's range eclipse that of Tesla's upcoming Model 3, which the California-based automaker puts at 215 miles. See Chevy's post on Facebook to make your own guess, or check back there (or here at AutoblogGreen) for the official number once it is unveiled. Fuel cell company PowerCell Sweden says it has signed an agreement with a Chinese company to make range extenders for commercial trucks. The unnamed Chinese customer has placed an order and signed a memorandum of understanding with PowerCell Sweden, and the partners will develop methanol reformer fuel cell range extenders for electric distribution trucks. "Our unique expertise in fuel cells and reformer technology is receiving an increasing attention worldwide and we are truly pleased to get another Chinese order," says PowerCell Sweden Sales Director Andreas Boden. Read more at Green Car Congress, or from PowerCell. China is accusing major automakers of violating EV subsidy rules. After the country's Ministry of Finance penalized five companies with fines and, in one case, revocation of production license for subsidy cheats, China has since named 20 more potential violators, including Nissan, Hyundai, JAC, and a subsidiary of BYD. Of the first five companies to be punished under the investigation, Suzhou Gemsea Coach Manufacturing is having its production license revoked, while four others, including a subsidiary of Chery, are being fined for about half of the subsidies received. The scandal is bad new for China's subsidy program, which has helped spur sales of plug-in vehicles. Read more from Fortune, or at Hybrid Cars.