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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.

2018 Buick Regal TourX First Drive Review | Pop the champagne, it's another wagon!

As a newborn member of an endangered species, we should probably pop open the Dom to fete the arrival of the 2018 Buick Regal TourX. It's a wagon, after all, and if there's anything we automotive writers have been clamoring for is more wagons. "Forget those SUVs," we've implored. "This wagon over here is better! Just as much cargo space, better to drive! And have you seen it in brown?" Well, it seems like our collective proselytizing is starting to pay off, or perhaps far more likely, consumer tastes are shifting a bit to appreciate the wagon. Sure, they need to be lifted a bit and sport plastic fender flares to add a wee bit of SUV-ish flavor, but who the hell cares? Beggars, choosers, etc. It's a wagon, and we should be happy it's here. And we are, the Regal TourX is a pretty good one that thankfully offers more than just its mere existence. It especially delivers on the space front, which is refreshing since most of today's wagons are not as cargo friendly as the collective "we" would like to admit. An Audi Q5 regrettably does have more cargo space than an Audi A4 Allroad. Yet, the TourX has more than both – considerably more in fact, coming in at a certifiably huge 73.5 cubic feet of maximum space. The difference is palpable between it and the 53.5-cubic-foot Allroad, which Buick considers the TourX's closest competitor. As the below video (somewhat) demonstrates, I was able to cram 12 Patagonia duffle bags into the Allroad, filling up most of the cabin. The same amount in the TourX left tons of residual space, you could still see out the back and loading it all in didn't require a degree in Advanced Tetris. There's also a far more useful amount of space with the back seat raised (32.7 vs. 24.2). That area is especially lengthy, and with the large rear quarter windows and reasonably square roofline, it should be a good choice for dog owners. There's no built-in dog net behind the back seat as you'll find in the Allroad and BMW 3 Series wagon (you'd have to go the aftermarket route), but your four-legged buddy should at least appreciate the lower liftover/jump-aboard height. Which brings us to the next wagon benefit: the lower roof height. According to Buick's marketing folks, people who buy off-roadish wagons like the Regal TourX are far more likely to actually live the outdoorsy active lifestyles the owners of SUVs usually only envision for themselves.

Buick version of Equinox/Terrain CUV spied testing... with autonomous gear?

Let's get the most pressing bits of this story out of the way right off the bat: What we see here appears to be a new compact crossover from Buick. According to the spy photographer, this machine may be a little bit smaller on the outside than the current Chevrolet Equinox and GMC Terrain 'utes, which makes sense since recent rumors suggest GM's small crossovers will migrate to a new platform that will mark a convergence between the automaker's Delta (Chevy Cruze, Buick Verano) and Theta (Equinox, Terrain) platforms. This Buick would likely use this new D2UX platform.
We've been expecting Buick to unleash a crossover to slot between the very small Encore and the very large Enclave, and various rumors have indicated that the model may be known as either the Anthem or Envision. It's worth mentioning that Buick had planned, back in 2009, to release a vehicle in the compact CUV market, but abandoned those plans after a particularly poor reception.
And now for something completely different... Take another look at the spy shots above, and pay special attention to the cylindrical device mounted to the vehicle's roof. We can't say for sure what it is, but our spy photographer opines that it looks quite a bit like the 360-degree Lidar camera equipment used by Google for its autonomous cars. Is General Motors working with Google on autonomous car technology? We don't know, but you can definitely consider us intrigued.