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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.

Ghostbusters director tweets first photos of new Ecto-1

Ghostbusters is heading back to theaters next year with a new look. Rather than bringing back the original's aging comedic actors, four actresses are taking over the starring roles, including Melissa McCarthy, Kristen Wiig, Kate McKinnon, and Leslie Jones. Although, one of the movie's major highlights is missing from that list – the Ecto-1. Originally based on a 1959 Cadillac ambulance, we're now getting the first glimpses of the decked-out, ghost-hunting wagon from the new version thanks to director Paul Feig on Twitter. Purists might like that the Ghostbusters are sticking with a Caddy, but the producers are going for a slightly newer, more macabre approach, as well. Rather than an ambulance conversion, the latest one starts as a hearse. Feig also has his Twitter profile picture of a ghost taking over as the hood ornament, and he even tweeted a shot of the rear. @szewcik_james Okay. pic.twitter.com/sHkx1Soj6p — Paul Feig (@paulfeig) July 8, 2015 Being the Internet, Feig is being deluged both with hyperbolic vitriol for changing things, and praise for the switch. He has politely tweeted about the situation. Not blocking or deleting. I hear you all and appreciate all your input, good or bad. Thanks. https://t.co/pxZsWGeNyL — Paul Feig (@paulfeig) July 8, 2015 Keep in mind this Caddy hearse is about as old today as the original Ecto-1 from Ghostbusters' release in 1984. Having the ladies driving a '50s Caddy might stretch the imagination too far even in a movie about fighting the undead. This approach seems like a perfect compromise between old and new.

Cadillac gives ATS, CTS new V6 for 2016

Replacing the existing 3.6-liter V6 in the Cadillac ATS and CTS is... another 3.6-liter V6. But this one promises higher output, while consuming less fuel, and making less noise. Like the V8s in the CTS-V and Escalade, it's got cylinder-deactivation technology to cut it down to a four-pot under lighter loads, as well as automatic stop/start, and comes mated to an eight-speed automatic transmission. The new engine produces 335 horsepower and 284 pound-feet of torque. That's a modest improvement over the 321 hp and 275 lb-ft mustered by the unit it replaces. But it also delivers an approximate improvement of nine percent in fuel economy and eight percent in carbon emissions. That's what we'd call a win-win, even if it's a modest one. Of course, those ATS or CTS buyers attracted to higher efficiency will still likely go for the 2.5-liter inline-four or the 2.0-liter turbo four. And those more inclined towards performance will be tempted by the 3.6-liter twin-turbo V6 in the ATS-V or CTS Vsport – or the 6.2-liter supercharged V8 in the CTS-V, for that matter. But those customers looking for the best of both worlds will surely be pleased by the improvements the new atmospheric V6 and 8-speed gearbox bring to the table. Related Video: New Technologies Boost Efficiency for 2016 CYLINDER DEACTIVATION AND START/STOP SYSTEMS BEGIN PRODUCTION ON ATS AND CTS PRODUCT LINES 2015-10-09 Renowned for luxury and design, Cadillac has recently added dynamic driving performance to its list of attributes. Now as 2016 model year production begins, Cadillac adds new fuel-saving technologies. Active Fuel Management and Automatic Stop/Start technologies, and widespread use of a new 8-speed transmission, are combining to raise fuel economy ratings and reduce emissions in Cadillac's portfolio. Cadillac's all-new six cylinder engine contains Active Fuel Management, or cylinder deactivation, technology enabling it to seamlessly switch from six-cylinder to four-cylinder operation under certain light-load conditions, while maintaining excellent performance. The new 3.6-liter engine is part of the 2016 ATS and CTS product lines. Additionally, the Cadillac Escalade luxury SUV's V8 will shift to four-cylinder operation in many daily driving conditions, as will Cadillac's all-new high performance CTS-V sedan.