1985 Chevrolet Cheyenne Regular Cab Runs Great 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.

2015 Chevy Silverado Custom Sport is subtle in black

In a world where trucks are growing bigger, bolder grilles and more muscle-bound looks, Chevrolet is trying something a bit different with its recently revealed Custom Sport edition for the 2015 Silverado at the this year's Detroit Auto Show. The edition leans on being understated, instead of screaming about its abilities. The design is supposed to be a throwback to the Chevy Custom Sport Trucks of the late '60s that brought a touch of elegance to these usually utilitarian vehicles at the time. The heart of the package is its monochromatic body-color touches for the bumpers and grille surround. The one on display at the show is especially attractive with a chrome-accented black grille that fits perfectly with the rest of the body. The edition does get a bit more shine with chrome covering the 20-inch wheels, door handles, mirror caps and side moldings. In addition, buyers get projector beam headlights, tow hooks and heated power mirrors. The custom package is available on the LT trim in black or white and on the LTZ in black or White Diamond Tricoat. Take a look at this monochromatic take on the Silverado as it sits in the Motor City. 2015 SILVERADO OFFERS CUSTOM SPORT PACKAGE Inspired by Chevy Custom Sport Trucks that helped launch personal-use pickups DETROIT, 07/01/15 – With the new 2015 Silverado Custom Sport special edition, Chevrolet pays homage to one of its most iconic pickups, adding a sophisticated monochromatic look to double- and crew-cab Silverados. The Custom Sport package features body-colored front and rear bumpers and a body-colored grille surround with a chrome-accented black grille. Other accents include 20-inch chrome wheels, chrome door handles and mirror caps, and chrome body-side moldings. The package also includes projector beam headlamps, tow hooks and heated power-adjusted mirrors. "The Custom Sport special edition was inspired by Chevy Custom Sport Trucks of the late 1960s," said Sandor Piszar, Chevrolet Trucks marketing director. "Those CST models added a touch of elegance to a great all-around truck, just like the Custom Sport package for the new Silverado." The redesigned 1967 Chevrolet pickup entered the market at a time when trucks were starting to move off the jobsites and into the driveways of cities and suburbs. The 1967 Custom Sport Truck, with its bright trim, plush carpet and bucket seats, helped launch a wave of personal use pickups that continues today.

Body shop manager stole over $500,000 worth of government trucks and parts

The US Department of Justice announced yesterday that the manager of a collision and restoration business in Virginia admitted he helped misappropriate and sell vehicles and parts from the State Department. Specifically, he sold 12 Chevrolet Suburbans, a Hummer, and $7,500 worth of tires and wheels. He pled guilty to charges to commit theft of government property and wire fraud. He will likely see 18 to 20 months in prison, a fine of $4,000 to $40,000, and has already agreed to pay restitution of $416,020 and asset forfeiture of the same amount. According to the Department of Justice, the body shop manager, James Ratcliffe, worked with the owner of the business and a State Department official, both unnamed, to obtain the property. It started with the wheels and tires, which were delivered and sold on two occasions, one in 2011 and another in 2012. The trucks came later, and were sold throughout 2011 and 2013. Ratcliffe and the shop owner kept most of the profits, and shared some of the leftovers with the government official. In addition to the vehicles that were sold, the government official also gave Ratcliffe a pair of Suburbans for his own personal use. The Department of Justice estimated the total value of the SUVs at $96,400. In total, the group misappropriated $512,420 worth of property. Related Video: