2007 Hummer H2 on 2040-cars

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Body shop manager stole over $500,000 worth of government trucks and parts

The US Department of Justice announced yesterday that the manager of a collision and restoration business in Virginia admitted he helped misappropriate and sell vehicles and parts from the State Department. Specifically, he sold 12 Chevrolet Suburbans, a Hummer, and $7,500 worth of tires and wheels. He pled guilty to charges to commit theft of government property and wire fraud. He will likely see 18 to 20 months in prison, a fine of $4,000 to $40,000, and has already agreed to pay restitution of $416,020 and asset forfeiture of the same amount. According to the Department of Justice, the body shop manager, James Ratcliffe, worked with the owner of the business and a State Department official, both unnamed, to obtain the property. It started with the wheels and tires, which were delivered and sold on two occasions, one in 2011 and another in 2012. The trucks came later, and were sold throughout 2011 and 2013. Ratcliffe and the shop owner kept most of the profits, and shared some of the leftovers with the government official. In addition to the vehicles that were sold, the government official also gave Ratcliffe a pair of Suburbans for his own personal use. The Department of Justice estimated the total value of the SUVs at $96,400. In total, the group misappropriated $512,420 worth of property. 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.

Mil-Spec built a one-off, track-ready Hummer H1

Mil-Spec is one of the latest companies looking for success with restored and modified versions of iconic vehicles. Rather than Porsche 911s or '60s trucks and SUVs, its canvases are Hummer H1s. The customer vehicles are big, brash off-road machines, but that's not all the company is capable of. We recently learned that the crew over there built a Hummer H1 meant for race track use, and it is amazing. The base vehicle is a four-door convertible pickup truck, and Mil-Spec thoroughly changed the suspension. It has custom coilovers with stiff springs, and the entire suspension geometry has been revised. Overall, it was lowered a stunning seven inches compared with a stock H1. The H1's in-board brakes now feature six-piston brake calipers, and the wheels are wrapped in low-profile Pirelli P-Zero tires. Also impressive is the fact that the truck still has a part-time four-wheel-drive system. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Under the hood is a 6.6-liter Duramax diesel V8 similar to that in the customer models. But this one has been tuned all the way up to 800 horsepower and 1,500 pound-feet of torque. This engine also plays a role in this truck's origins. Apparently the truck was used for final powertrain testing and development. But it was also built to highlight the company's capabilities. If you want one of these, well, you can't have one. At least not yet. We asked a Mil-Spec representative, and he told us that there are no plans for offering track-oriented H1s. That's understandable, since the company is still working through building and selling its initial run of 12 off-road-ready vehicles. He did say the truck has generated a lot of interest, though. So, maybe when the company has time, and if a really wealthy buyer really wanted one, maybe the Mil-Spec could work something out. But at least in the meantime, the company is sticking to tall, chunky-tired H1s. Related Video: