1990 Buick Reatta Base Coupe 2-door 3.8l 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.

Hyundai, Buick dealer apologize in wake of Chinese baby social media incident

A very strange story out of China today, as Hyundai and a Chinese Buick dealer were forced to face allegations of using allusions to an infamous child murder on a social media site as a way of promoting the safety features of their respective vehicles.
The original sad tale goes something like this: On March 4, a man reported to police that he had left his infant child in a running Toyota RAV4 while he ran into a supermarket briefly. When he came back out, the vehicle and the child were gone. Later in the week a suspect turned himself in to the police; confessing to them that he had stolen a sport-utility vehicle, strangled the infant that was in it, and then buried the child in the snow.
As you might imagine, the gristly incident was covered massively in the Chinese media. (There was huge public outcry as well, as evidenced by the vigil scene, above.) "Changchun baby abduction" was very quickly amongst the highest ranking search teams of the China's Weibo social media site - an equivalent of Twitter in the English-speaking world.

Buick Encore GX fuel economy out, 1.3L more efficient than 1.2L

EPA fuel economy ratings for the 2020 Buick Encore GX are out, the most powerful engine taking the overall trophy. The new, slighty-less-compact subcompact crossover comes with a turbocharged 1.2-liter three-cylinder as its base engine, putting out 137 horsepower and 166 pound-feet of torque. Available solely with front-wheel drive and with a continuously variable transmission, the powertrain gets 26 miles per gallon in the city, 30 on the highway and 28 combined. The optional engine is a turbocharged 1.3-cylinder with 155 hp and 174 lb-ft. Mating it to the CVT in front-wheel drive guise returns the best fuel economy in the Encore/Encore GX family, being 30 city, 32 highway, 31 combined. That's spot on GM's prediction last year for combined fuel economy. Buyers who opt for the 1.3-liter with all-wheel drive — the engine costing an additional $395, the drivetrain a $2,000 upgrade — get a nine-speed automatic transmission, that combo returning 26 mpg in the city, 29 mpg on the highway and 28 mpg combined. Among luxury front-wheel drive entries, the 2020 BMW X1 sDrive28i gets 27 mpg combined utilizing an eight-speed automatic, the Lexus UX 200 gets 33 mpg combined with a CVT. Among less the expensive options, the Nissan Kicks returns 33 mpg as well through a CVT, the Mazda CX-30 rated at 28 mpg combined and employing a six-speed auto. The Encore once offered two versions of its turbocharged 1.4-liter, but is now left with the lesser-powered unit producing 138 hp and 148 lb-ft, paired with a six-speed automatic. Fuel economy with front-wheel drive is 25 city, 30 highway, 27 combined; with all-wheel drive, that shrinks by one mpg across the board to 24 city, 29 highway and 26 combined. The Encore GX is scheduled to hit dealership sometime this spring. Related Video: