1988 Chevy Camaro Iroc Z 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.

Toyota tops Kelley Blue Book's Resale Value Awards

Kelley Blue Book announced its annual Best Resale Value Award winners, and we weren't too surprised to see the list dominated by Japanese automakers - mainly Toyota and Honda. KBB hands out the awards based on the projected residual value of mostly all 2013 model year vehicles, and Toyota skated home with a number of awards including 10 of the 22 overall categories and having five of its products in the top 10 for models with best resale value. KBB's Best Resale Value Awards were announced in the same week as the ALG Residual Value Awards, and there were many similarities between both lists, especially when it came to Toyota.
To come up with its winners, KBB measures depreciation over the first five years of ownership, and looks for the cars it expects to hold its value the best after this time; on average, the report says the 2013 model year vehicles will lose 61.8 percent of its value in five years. Of the 22 categories, 15 slots were filled by Toyota, Honda and Nissan products, while the Camaro and Porsche (Cayenne and Panamera) each took home a pair of awards. If Toyota has anything to be upset about in this list of cars, it's that categories for Hybrid/Alternative Energy Car and Electric Vehicle went to the Ford Fusion and Chevrolet Volt, respectively.
The overall top 10 models for the best resale value in 2013 are, in alphabetical order:

Chevy bringing Spark RS Concept to SEMA

Well, the SEMA mess has well and truly begun. Every year, an increasing number of automakers flock to the Las Vegas auto show, bringing accessories and concept vehicles that are both awesome as well as occasionally questionable. Chevy will bring an RS concept of the new Spark to SEMA, signaling that its styling package will be applied to the brand's smallest vehicle in the near future. We can expect the usual stuff in a production Spark RS – larger wheels, a slightly sportier cabin, a more aggressive body kit, and a small drop in ride height – but for the concept, Chevy wasn't restrained by things like budget. The front splitter, and sill extensions, foglight surrounds, and rear bumper insert are all finished in carbon fiber. The 17-inch alloys are apparently inspired by the Corvette Z06's Z07 package, while the Dark Liquid Switchblade Silver paint is broken up only by a driver's-side stripe. The company is also using SEMA to show its new Red Line accessories, features both concept and production parts for the Trax, Camaro, Malibu, Colorado, and Sierra. Every vehicle gets Enhanced Silver Metallic paint, a charcoal finish on the roof, satin graphite/red graphics, black/red badge kits, and aside from the Colorado, tinted lamps. Individual mods for the Trax include relatively simple tweaks, including new 18-inch wheels, blacked-out bowtie badges, a lowered ride height, and custom badging. It's a similar story on the Malibu, except that its 19-inch wheels are a smidge larger, and its lowered ride height is the result of a concept kit. The first concept based on the new Camaro opts for 20-inch wheels, while adding a few more performance items. The ride height has been lowered, there's a new air intake system, and an upgraded brake package. Chevy has also replaced the front upper and lower grilles inserts with red accents. On the pickup side of the coin, the Colorado gets 18-inch wheels, new intake and exhaust systems, Goodyear Wrangler Fortitude tires, and flared wheelarches. The Silverado gets similar intake and exhaust upgrades, as well as the largest wheels of them all, with 22s at all four corners. The full-size truck also gets a Brembo brake package, while every vehicle, aside from the Camaro, gets Thule roof-mounted accessories. You can check out all six concepts in the gallery above, and then be sure to keep an eye open for live images from the floor of the 2015 SEMA show, slated to open next month.