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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.

We want this Buick Regal wagon rumor to be true

The car we know in the US as the Buick Regal is sold as a Vauxhall/ Opel Insignia in Europe, where it's offered in four-door sedan, five-door liftback, and wagon body styles. Call it a case of wanting what we can't have, but we like the last two body styles a lot. Based on a report from a Buick/ GMC dealer meeting in Austin, one of them could be coming to the US soon. According to a poster identified as 97GreenRS on the forums at GM Inside News, GM showed dealers the 2018 Buick Enclave, Regal, and Regal GS, as well as the 2018 GMC Terrain, and then confirmed it would offer the Regal wagon here in the US. While that wouldn't normally be all that much to go on, we know Buick has been toying with the idea of a wagon for some time. A Regal-badged wagon was spotted way back in 2011. More recently, we reported on a trademark filing for "Tourx" and "Regal Tourx," which suggest a long roof (Tour) and all-wheel drive (x). If the Regal wagon arrives alongside the base sedan and GS as a 2018 model, we'd expect a debut within the next 15 or so months. That would place it right at the beginning of the 2017 auto show season, which starts next September in Frankfurt, Germany. With that in mind, it seems possible the new Regal would debut first as an Opel Insignia before appearing at a US show like Los Angeles or Detroit, although there's a lot of speculation going on there. We just want to see "Buick" and "wagon" in the same sentence again. Related Video:

Restyled 2014 Buick Regal adds AWD, Regal GS loses power

Although the current Buick Regal hasn't even been on the market for very long, General Motors is using the New York Auto Show to unveil an updated version of the sedan in a similar fashion to what we saw yesterday with the 2014 LaCrosse. Like the LaCrosse, all 2014 Regal models will be getting a new look both for the exterior and interior design, but the big news takes place under the sedan's skin.
Except for the base Regal eAssist, the Regal Turbo and Regal GS will both be adding the benefit of all-wheel drive, but there is no word as to how much weight this system will add to each car's curb weight. The Regal Turbo's 2.0-liter turbocharged four-cylinder has received a decent bump in output from 220 horsepower and 260 pound-feet of torque to 259 hp and 295 lb-ft; unfortunately, these same figures are carried over to the Regal GS, which means that car drops from 270 hp. Both turbocharged models (Regal Turbo and Regal GS) will now be offered with all-wheel drive and the ability of sending more than 90 percent of the engine's torque to the rear wheels.
In terms of styling, the 2014 Regal gets similar styling changes found on the updated Enclave and LaCrosse, including reworked fascias, scalloped headlights and a full-width chrome strip spanning between the new LED taillights. Inside, key changes were made to the Regal's cabin technology, such as the instrument gauge cluster and infotainment system. On the Regal and Regal Turbo, a new 4.2-inch color display is available for drivers to see information for the vehicle, navigation and audio systems, but the Regal GS' cabin is slightly different with an eight-inch configurable gauge display. One of the best changes may be the overall reduction in buttons on the center stack, creating a cleaner-looking and easier-to-use cabin.