2014 Chevrolet Silverado 1500 Lt 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.

2017 Chevrolet Trax gets a friendlier face, more tech

Chevrolet only introduced the Trax for the 2015 model year in the US, but since the car was available for many years in other markets, it's overdue for a refresh. The 2017 model year updates include a major improvement in the CUV's styling and a more extensive slate of available tech. The current Trax looks somewhat frumpy due to its chunky headlights and square face, but the 2017 update does wonders for the compact CUV's styling. The narrower headlights wrap around the front end, and higher trim levels get LED running lights. The angular lower portion of the grille also has more visual flair compared to the current rounded shape. Around back, there are minor tweaks to the bumper and taillights. The 2017 Trax's interior looks like a much nicer place to spend time. A new instrument panel includes an analog speedometer and tachometer, plus a digital info display on the right side. The infotainment system is now Chevy's seven-inch MyLink unit with available Apple CarPlay, Android Auto, and 4G LTE support. Chrome trim on the center stack and dashboard also make the updated Trax seem more luxurious inside. The latest model keeps the current powertrain, which consists of a 1.4-liter turbocharged four-cylinder with 138 horsepower and 148 pound-feet of torque and a six-speed automatic gearbox. Buyers can now enhance the CUV's safety with optional side blind zone alert, rear cross traffic alert, forward collision alert, and lane departure warning. The 2017 Trax goes on sale this fall in LS, LT, and Premier trims. You can get a good look at the improved styling in the gallery above, and expect live photos of the CUV from the Windy City soon. Chevrolet Introduces 2017 Trax Fresh design, premium interior complement safety, connectivity enhancements CHICAGO – Building on its early success and the rapid growth of the segment, Chevrolet today introduced the 2017 Trax – a more expressive take on one of America's best-selling small SUVs. Contemporary design elements, including an all-new front-end appearance, and a new premium interior compose the visual updates, while new available active safety features and a new infotainment system – with available Apple CarPlay and Android Auto compatibility – expand its range of customer-focused technologies.

GM recalling 426,000 sedans over faulty transmission shift cable

General Motors is recalling some 426,240 sedans that may have a faulty transmission shift cable, according to a National Highway Traffic Safety Administration report this morning. The recall concerns a fault within four-speed automatic transmissions equipped on 2007-2010 Saturn Aura models, and 2008-2010 Chevrolet Malibu and Pontiac G6 models.
The report specifies that tabs on the transmission shift cable may fracture and separate. Such a fault could cause a discrepancy between the actual position of the transmission and the apparent position of the shift lever.
GM is currently working to notify owners of the vehicles in question, and dealers will check and replace shift cables free of charge. Scroll down to read the complete NHTSA report.