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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.

Domino's reveals Chevy Spark-based delivery car

Next time you order from Domino's Pizza, check out the delivery car. In an effort to get hot and fresh pizzas to hungry customers, the company is creating a small run of custom vehicles that are tailored for the job. Dubbed the Domino's Delivery Expert (DXP), these 2015 Chevrolet Spark-based hatchbacks pack a plethora of features to provide the perfect pie. When the DXP's on delivery duty, every order should arrive steaming hot thanks to the hatchback's biggest custom upgrade – a warming oven right behind the driver. Accessible from outside, it can keep pizzas at the perfect temperature on the way to your house and hold two of Domino's Heatwave bags. Other than the driver's seat, the rest of the interior also gets replaced with bountiful storage and non-slip surfaces. According to the company, as many as 80 pizzas could conceivably fit inside, and that would be quite a party. The exterior is still clearly derived from the Spark but with some clever additions. An illuminated "Out for Delivery" sign is on the roof, and a puddle light shoots the Domino's logo on the ground. Plus, the company's red-and-blue color scheme is emblazoned over the hood, pillars, and hatch. Underneath all the pizza-related mods, power comes from a 1.2-liter four-cylinder and CVT. Rather than just a one-off stunt, Domino's is working with Roush Enterprises and former General Motors exec Kenneth R. Baker to build 100 DXPs. They're hitting the streets in 25 US cities, and you can check if your locale is included on the project's website. The seed of this idea came from a partnership with Local Motors to crowdsource the ultimate pizza delivery platform. Domino's Launches Purpose-Built Pizza Delivery Vehicle Domino's Innovative DXP™ Created by Three Great Michigan Brands and an International Crowdsourcing Design Competition Ann Arbor, Mich., Oct. 21, 2015 -- In its latest innovation as the recognized world leader in pizza delivery, Domino's (NYSE:DPZ) is launching the Domino's DXP™ (Delivery Expert), a specially designed and built pizza delivery vehicle. The DXP is the combined brainchild of former GM R&D executive Kenneth R. Baker, Michigan-based Roush Enterprises and Domino's. To also include consumers' input, hundreds of concepts were initially identified in an online crowdsourcing design competition hosted by Local Motors. "The Domino's DXP is the first purpose-built vehicle aimed at revolutionizing pizza delivery," said Russell Weiner, president of Domino's USA.

These are 2014's best-selling cars and trucks

Now that 2014 is no more than a set of numbers on spreadsheets, at last, the grist mill gets its first real load to chew on. The number one selling vehicle in America last year was the Ford F-Series, a fact that should surprise you only if your family name is Van Winkle and your naps tend to last 38 years, which is how long the Ford pickup has ruled our buying landscape. Even though series sales were down 1.3 percent, it still racked up 753,851 units. That's 2,065.3 sales per day, every day, all year. The Chevrolet Silverado, up 10.3 percent for the year, was still a daylight second at 529,755 units. The cab-and-bed love continued into third place with the Ram 1500-3500 trucks, gaining 23.6-percent year-on-year to clock 439,789 units. The robust turnout at The Bighorn and Jeep helped Fiat-Chrysler increase its sales by 16 percent, past the two-million mark. Our number one car? The Toyota Camry, staying in first place with a 4.9-percent sales boost to 428,606 sales, trailed again by the Honda Accord at number five with 388,374 sales. Accord sales rose six percent, and if it's any consolation to Honda for coming in second - not that it needs one - it is the only manufacturer to have three vehicles in the top ten. The rest of the list: the Nissan Altima with 335,644 sales (+4.7%), the Honda CR-V with 355,019 (+10.2%), the Toyota Corolla/Matrix combo with 339,498 (+5.9%), the Honda Civic with 325,981 (-3.1%), and the Ford Fusion with 306,860 sales (+2.9%). Total sales for the year were up six percent to 16.5 million vehicles, a volume not seen since 2006, aided by a strong December that was up by 11 percent year-on-year. Ford was the top selling brand overall but sales didn't really budge from 2013, while Subaru rocketed up 21 percent to finish with 513,693 sales. At the precious end, BMW, Audi, Porsche and Land Rover all had record years, and Kelley Blue Book thinks we could be looking at 17 million sales for the next two or three years. Looks like it's time to start making hay again... Featured Gallery Best-selling vehicles of 2014 View 10 Photos News Source: Detroit News, Associated Press Auto News Chevrolet Ford Honda Nissan RAM Toyota Car Buying Truck Sedan sales