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Bob Lutz says Tesla remains 'fringe' brand

We've said it before, we'll said it again: Bob Lutz gives great quotes. From his toilet-themed opinion of global warming to Toyota's deity status, the man knows how to get your attention. His latest? Saying that Tesla Motors is and will remain a fringe brand. Take that, Tesla fanbois. This, of course, is the same fringe company that prompted Lutz and his former colleagues at General Motors to start working on the Chevy Volt around eight years ago. The same fringe company that has easily outsold the similarly priced (but don't call it a competitor) Cadillac ELR with its Model S. Lutz did clarify that the fringe status will only last until Tesla comes out with a mass-market electric vehicle that has a range of 200 to 300 miles. Lutz was on CNBC talking about the TSLA stock's recent performance, and he pointed out that even Tesla CEO Elon Musk says that the California automaker's stock is overvalued these days. Despite its prevalence around these parts, Tesla is not yet a household brand. But the company is working hard to get a cheaper, long-range EV to market in the not-too-distant future, so this fringe thing may not last much longer than that show Fringe did. Watch the video below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: CNBC via Green Car Reports Green Chevrolet Tesla Green Culture Electric Hybrid PHEV cnbc

2.0-liter turbo four reportedly returning to Chevrolet Equinox line-up for 2022

Chevrolet's popular Equinox crossover will enter the 2021 model year with comprehensive updates and a turbocharged, 1.5-liter four-cylinder as its only available engine. The 2.0-liter turbo four offered through 2020 is allegedly leaving the line-up, but it will be replaced for 2022 with a newer engine that produces slightly less power while returning better fuel economy, according to a recent report. Called LSY internally, the new 2.0-liter turbo four already powers the Cadillac XT4, among other models in the General Motors portfolio. Enthusiast website GM Authority learned it will deliver 237 horsepower at 5,000 rpm and 258 pound-feet of torque from 1,500 to 4,000 rpm. For context, the 2.0-liter available through 2020 (known as LTG) made 252 horses and 260 pound-feet of twist, and the 1.5-liter posts figures of 170 and 203, respectively. As a trade-off for the slight drop in horsepower and torque, the LSY is smoother, quieter and cleaner than the LTG it replaces. Transmission options remain unconfirmed, but the four-cylinder will likely shift through a nine-speed automatic. Front-wheel drive will come standard, and all-wheel drive will be offered at an extra cost. Chevrolet hasn't commented on the report; it hasn't even confirmed the Equinox is losing the LTG engine for 2021. If the rumor is accurate, details about the 2022 Equinox should be released during the first half of 2021. GM Authority added the GMC Terrain, which is closely related to the Equinox, will receive the new engine for 2022 as well. Both should have gotten it for 2021, but the on-going global pandemic delayed its launch. Related Video:

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.