2012 Chevrolet Cruze 4dr Sdn Ltz Alloy Wheels Rear Spoiler Air Conditioning 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 Colorado gets its GearOn before Chicago

Complementing the Chevrolet Silverado Midnight Edition at the 2015 Chicago Auto Show is this, the 2015 Colorado GearOn Edition, which as the name might suggest, takes full advantage of the company's truck accessory catalog. Available on the volume LT trim and in both crew and extended cab varieties and with both the short and long-bed options, the GearOn Edition adds plenty of nifty extras designed to increase the truck's versatility and help accommodate bikes, kayaks and other outdoorsy items. The GearOn bars package, divider package and tie-down rings are supplemented an "EZ" lift and lower tailgate, side steps, gloss black 18-inch wheels, a body color grille, and blacked-out Chevy badges. And although it's not specifically called out in the attached press release, the paint on this special edition looks different than anything else in the truck's catalog. We dig it, especially with the black accents. Prices, meanwhile, start at $31,250, which is not even $1,200 more than a Colorado Extended Cab LT 4x4. We'll have more on the Colorado GearOn when it makes its debut later this week at the 2015 Chicago Auto Show, including live images to add to the pair of stocks distributed by Chevy. Until then, scroll down for the press release on the limited-edition truck. Chevy Colorado GearOn™ Edition Brings More Adventure Versatile accessories package maximizes cargo capability; enables more fun DETROIT – Chevrolet today introduced the 2015 Colorado GearOn™ Special Edition, which blends the capability of the all-new midsize pickup truck with the versatility of the GearOn accessory system – and additional popular features. It makes its public debut Feb. 13-22 at the Chicago Auto Show. The Colorado GearOn Special Edition goes on sale this spring with a starting price of $31,250. It's offered on LT models in extended or crew cab configurations, with the long or short cargo bed and available 4WD. "Chevrolet Colorado answers the call for customers who have passions of all types and the GearOn accessory system enables them to bring more adventure wherever they go," said Tony Johnson, Colorado marketing manager. "And with Colorado offering segment-leading efficiency and capabilities, it's a combination that maximizes adventure without compromise." The GearOn accessory system is designed for easy configuration with a multitude of mounting accessories for everything from bikes, kayaks, skis and stand-up paddle boards to a bed-mounted tent.

GM adds 1,200 jobs at Detroit-Hamtramck plant

General Motors is making a big move at its Hamtramck, MI, factory, announcing it will add a second shift and hire over 1,200 workers within the next several months. It's expected that by early 2016, the factory will employ over 2,800 workers to build the Chevrolet Volt, Impala, Malibu, Cadillac ELR, and by early next year, the new CT6. According to GM Hamtramck spokesperson Courtney Zemke, 40 of the 1,200 positions are for salaried employees, while the remainder will be hourly positions. As for where these employees will go, positions are being made available across the factory, so GM isn't focusing on any particular area for its new hires. It's a similar story behind the hiring surge itself. GM said in its press release that the "second shift is necessary to meet forecasted market demand," a position Zemke reiterated. It's a matter of demand across the plant's portfolio, rather than any one particular product seriously outstripping supply. Naturally, the United Auto Workers is happy with the move. "The workforce at Detroit-Hamtramck is second to none," UAW Local 22 Shop Chairman Don LaForest said in the attached release. "We appreciate the opportunity to expand our UAW-GM family." Hiring is going on now, with the second shift slated to get underway in early 2016. GM's Detroit-Hamtramck Assembly to Add Second Shift and More Than 1,200 Jobs Plant will nearly double its workforce by early 2016 2015-10-22 DETROIT – General Motors is nearly doubling its workforce at Detroit-Hamtramck Assembly by adding a second shift and more than 1,200 hourly and salaried jobs. The addition of a second shift will increase the plant's workforce to approximately 2,800 people when hiring is completed. The second shift is necessary to meet forecasted market demand for the five cars produced at Detroit-Hamtramck. "This is the result of the award-winning vehicles Detroit-Hamtramck produces and the confidence GM has in our team to build world-class quality for our customers," said Plant Manager Gary West. Second shift hiring is underway, and the shift is scheduled to begin operations in early 2016. "The workforce at Detroit-Hamtramck is second to none," said UAW Local 22 Shop Chairman Don LaForest. "We appreciate the opportunity to expand our UAW-GM family." The 4.1 million-square-foot Detroit-Hamtramck Assembly opened in 1985. GM has invested $1 billion in the plant over the last six years, making it one of the company's most-agile manufacturing facilities in North America.