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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.

Recharge Wrap-up: Tesla's Europe plans, Chevy Bolt details

Hybrid Cars takes a close look at the battery cooling system and gearbox in the 2017 Chevrolet Bolt. While information is still limited, we can make educated guesses about the car's inner workings. The Bolt's liquid battery cooling system appears simpler than that of the Chevy Volt, eschewing active inter cell cooling plates for what appear to be bottom cooling plates. The Bolt has a coaxial gearbox, with the electric motor and the drive shaft on the same axis. It uses a simpler parallel-helical gear set rather than the planetary reduction set used in the Chevy Spark EV. These simplifications have the benefit of helping lower the cost of the Bolt. Read more at Hybrid Cars. Tesla is planning to expand its Supercharger network in Europe in 2016. While a handful of countries in western and central Europe have an established Supercharger network, many European countries still have no Tesla presence. That should change this year, as a map of planned locations includes Spain and Portugal, Ireland, Scandinavian and Italian expansions, and the first Superchargers in many eastern European nations, including Poland, the Balkans, Russia, Ukraine, Romania and even Moldova. By the end of the year, you should be able to take that electric road trip from Lisbon to Moscow you never knew you were planning. Read more at Teslarati. National Biodiesel Board CEO Joe Jobe sat down for an interview with the Tampa Bay Times. In the interview, Jobe discusses biodiesel's environmental impact and relationship with the fuel market. He talks about its production, and its differences from the other major biofuel, ethanol. Jobe says the biggest challenge is dealing with the petroleum industry, which biodiesel needs to work with despite their differences. "It's a threat when you have the largest, wealthiest most powerful industry in human history making it a top priority to eliminate policy that is aimed at helping incentivize renewable energy," says Jobe. Read more from the Tampa Bay Times. Related Gallery 2017 Chevrolet Bolt EV: Detroit 2016 View 10 Photos News Source: Hybrid Cars, Teslarati, Tesla Motors, Tampa Bay Times Green Chevrolet Tesla Alternative Fuels Biodiesel Electric recharge wrapup

2014 Chevy Cruze Diesel arrives with 42 mpg for $25,695*

The last time General Motors had a diesel passenger car in the US, it was the 1.8-liter 1986 Chevette. At the 2013 Chicago Auto Show today, GM is unveiling the much-anticipated 2014 Chevrolet Cruze Diesel. The compact bows with a 2.0-liter turbo-diesel four-cylinder engine that boasts 148 horsepower and 258 pound-feet of torque, with full twist coming on at just 2,000 rpm. What's more, the common-rail, direct-injection diesel features an overboost function that allows the engine to deliver up to 280 lb-ft of torque for 10 seconds at a time. Even with 10 more horsepower and 110 more pound-feet of torque than the available turbocharged 1.4-liter four-cylinder in the Cruze, the 2.0-liter diesel engine can return up to 42 mpg (highway) bolted to its six-speed automatic transmission.
If you're counting, that figure meets the less powerful Cruze Eco with a six-speed manual transmission. More importantly, the auto transmission Cruze Diesel matches its main competition, the Volkswagen Jetta TDI, in highway fuel economy. The Cruze 2.0 TD (as it will be badged) can also handle up to 20 percent biodiesel (B20), whereas the Jetta is rated only for B5. General Motors has not released city fuel economy for its newest diesel, but we do know how much it will cost you to jump behind the driver's seat.
GM will kindly ask for $25,695, plus an $810 destination fee. That marks a $2,115 premium over a loaded Cruze LTZ Auto and $2,640 more than the Jetta TDI, though the MSRP will net you a leather interior, 17-inch alloy wheels and an Aero Performance Package, as well as a two-year maintenance plan and five-year, 100,000-mile powertrain warranty. Compared to the gas-powered Cruze, you also lose a couple cubic feet of rear cargo space thanks to a 17-liter diesel emission fluid tank. That urea fluid, which helps put the clean in clean diesel, will need to be refilled at least every 10,000 miles.