2006 Hummer H2 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.

Junkyard Gem: 2006 Hummer H3 SUV

After General Motors bought the rights to the Hummer brand from AM General in 1999, it continued to sell the civilianized versions of the military HMMWV that was made famous after appearing in the heavily televised Operation Desert Storm. The Hummer H1 (as it became known) never sold in large numbers, but The General decided to make everyman Hummers based on existing GM truck platforms. The Silverado-based H2 came first, debuting as a 2003 model, followed by the Colorado-based H3 as a 2006 model. Here's one of those first-year H3s, found in a Denver self-service car graveyard recently. Now it's time for some Hummer brand history. After the American Motors Corporation bought Kaiser Jeep in 1970, it spun off the fleet and military parts of that operation into a new company called AM General. The best-known AM General products for many years were the Jeep DJ Dispatchers, generally called "Mail Jeeps," and they were sold all the way through 1984. 1984 was also the year that the United States Army put the first AM General-built High Mobility Multipurpose Wheeled Vehicles (HMMWV, which soldiers pronounced "Humvee" at first but eventually adopted the "Hummer" nickname). Around the same time, militarized VW-powered sand rails were being purchased from Chenowth by Uncle Sam. After Arnold Schwarzenegger convinced AM General to build civilianized Hummers, sales of the not-so-civilized brute that became the H1 began in 1992. The H2 and H3 had the misfortune to be launched just before the Great Recession hit and fuel prices went crazy, while a couple of overseas conflicts that were much less popular than Gulf War I made grim headlines and reduced the street appeal of combat-inspired civilian wheels. The H1 got the axe in 2006; GM tried and failed to sell the Hummer brand to a Chinese manufacturer in 2010, as it struggled through Chapter 11 bankruptcy, finally giving up and killing the brand alongside Pontiac, Saturn and Saab. Then the Hummer name was revived in 2022 as an electron-fueled GMC model, and you can buy a 2024 GMC Hummer EV SUV right now (though GMC's website warns of "LIMITED AVAILABILITY" in big red letters, so you might have a hard time actually taking delivery of one). The final 2010 H3s were built for Avis at Shreveport Operations, which itself shut down two years later.

2022 GMC Hummer EV Edition 1 Prototype Drive Review | Let the supertruck wars begin

MILFORD, Mich. — Hummer is high on the list of vehicles we never thought would return. The gas-guzzling brutes met their demise more than a decade ago as the industry pivoted briefly to smaller cars and General Motors shed brands during its historic restructuring. Fast-forward to 2022, and HummerÂ’s revival is at hand thanks to yet another industry shift, this time to electric propulsion. ItÂ’s expensive, itÂ’s still huge and the numbers are eye-popping to the tune of 1,000 horsepower. America loves a comeback — but it loves trucks more. We briefly tested the 2022 GMC Hummer EV Edition 1 truck at the GM Proving Grounds 40 miles northwest of Detroit. Weeks from now, Hummers will start rolling off the line at GMÂ’s EV site, dubbed Factory Zero, in the Motor City. While the Hummer SUV will undoubtedly prove its worth, GM is leading with the pickup, ambitiously calling it a supertruck and eagerly touting its metrics and mojo-generating features, like CrabWalk, against the Rivian R1T, Ford F-150 Lightning, Tesla Cybertruck, as well as gas-powered off-roaders like the Ford F-150 Raptor and Ram 1500 TRX, plus various Jeep and Land Rover SUVs. (Here's our latest supertruck spec comparo). All of them have impressed us (save the Cybertruck, which only Jay Leno and a few others have driven), but the Hummer is formidable in its own right. For one thing, itÂ’s a Hummer. The negative connotations of the old Hummers melt away when thereÂ’s a 24-module Ultium battery pack powering three motors for a range of 350-plus miles on a single charge. The old model was divisive, but a lot of people paid a lot of money for them simply because they looked very cool. HummerÂ’s familiar grille makes it bold return on our tester that looms high on its 35-inch Goodyear Wrangler Territory MT tires. It certainly looks the part of a supertruck. The cabin is roomy and airy, with the removable sky panels letting in the bright fall morning. Hummer EV chief engineer Al Oppenheiser is our co-pilot for our test, and after a quick walk-through, weÂ’re off.  The first order of business is simply mashing the throttle. The Edition 1 serves up about 1,200 pound-feet of torque, and you can make use of all of that and the four-figure horsepower to hit 60 mph in about 3 seconds. We accelerate hard, blasting over some soft ground before things get a little squirrelly and can confirm the claimed time feels legit.