1999 Gmc C1500 Suburban Sle Sport Utility 4-door 5.7l 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.

2022 GMC Sierra 1500 Denali gets Super Cruise and an upgraded interior

The 2022 GMC Sierra 1500 is getting Super Cruise! Exclamation point required, because this is exciting news. Cadillac has been the sole owner of Super Cruise at GM from the start, and though we knew it was coming to the Hummer EV, we didn't know a fast-selling full-size pickup would be getting the technology. GMC says it will launch Super Cruise on the 1500 Denali, which is the most expensive and luxurious trim of the Sierra. It’s scheduled to arrive for the 2022 model year, but GMC qualifies that by saying “late model year 2022.” That means itÂ’s probably coming right toward the end, with 2023 scheduled as the first full year of Super Cruise in the Sierra 1500. GM also claims that the version of Super Cruise coming to the Sierra is capable of towing. Yes, hands-free towing, folks. WeÂ’re a little antsy, too. The tech is the same as the newest generation of Super Cruise coming in the Cadillac CT5 and CT4. ItÂ’s an improved version with more capability than the first-gen system that won AutoblogÂ’s Technology of the Year award a couple of years ago. Questions still remain to be answered, though. GM hasnÂ’t said anything about what it will cost on the Sierra 1500. WeÂ’re also left in the dark when it comes to other Sierra 1500 trim levels; and what about the Silverado 1500? It makes sense that GM would give the Sierra Super Cruise first, but itÂ’s certainly compatible with the Chevy version of the truck now, too. As for other GMC products, GM is quiet on when theyÂ’ll be blessed with Super Cruise. The redesigned Yukon would be the most obvious candidate being the flagship product, but GM says the program timing worked out best to launch on the 2022 Sierra, not the Yukon. ItÂ’s likely that the SUV will be updated with the system in the near future. Besides Super Cruise, GMCÂ’s photo also reveals that the 2022 Sierra is getting a fully digital instrument cluster. ItÂ’s surely an optional item, but could very well be standard on Denali. GM has flipped the speedometer and tachometer to opposite sides, but their digital versions still have that straight-edged GMC look to them. You can see the Super Cruise graphic in the center, and all the gauges are dropped down to the bottom of the display. But wait, thereÂ’s more. The photo also shows the beginnings of a totally new interior design, different from both the current Sierra, standard Yukon and Yukon Denali interiors. ItÂ’s immediately and obviously different everywhere we look.

GM's Ultium EV platform finally shows up in Q3 sales numbers

General Motors has heralded its Ultium battery-electric platform as the future of its passenger car and truck lineup, but for the first two years of its existence, its impact on the marketplace has been virtually nonexistent. Well, that finally changed in the third quarter of 2023, and while the cars based on this architecture don't represent anywhere near the volume of GM's broader combustion portfolio, we're reaching a point where Ultium products are finally in view (and in the hands) of real-world shoppers. At this point, five U.S.-market Ultium models are in production: the GMC Hummer EV, Cadillac Lyriq, Chevrolet Blazer & Silverado EV, and BrightDrop Zevo 600. If you're not familiar with that last one, that's OK; it's a commercial product that you likely won't see on the road for some time. Together, these four combined for 4,257 sales in the third quarter alone — up from 2,663 for the entire first half of the year. While that may not seem like a significant uptick when viewed from altitude, the quarter-to-quarter numbers paint a clearer picture.  Let's toss out the stragglers first. The Chevy Blazer EV, and Silverado EV for example, are barely in production. GM delivered 19 Blazers and 18 Silverados in the third quarter and that's the entirety of their production runs so far. Likewise, GM's BrightDrop Zevo 600 delivery van effectively exists apart from the consumer marketplace, so its contribution of just 35 units can be set aside too. That leaves us the two you've heard of: the GMC Hummer EV and Cadillac Lyriq — models with high sticker prices and long reservation queues.  Through the second quarter (remember, we're talking six months here), GMC sold 49 Hummer EVs. No typo. In the three months that made up the third quarter, GM moved 1,167 of them. Not only is that a dramatic improvement over the first half, but it's more Hummers than GMC sold in the entirety of 2022 (854). Lyriq's improvement was less eye-popping on paper, but after moving just 122 total units in 2022 and 2,013 of them in the first half of 2023, Cadillac managed to up that figure to 3,018 units in the third quarter alone.  GM is betting its short-term EV future on the Ultium platform, so these trends need to continue if that's going to be a profitable wager.