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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.

2020 Cadillac XT4 Sport Drivers' Notes | Worth a look, or two

The 2020 Cadillac XT4 is Cadillac’s smallest crossover in its burgeoning lineup of SUVs. Most of the attention is on the new Escalade these days, but the XT4 is where someone with a lighter budget might enter the Cadillac brand. Our tester happens to be the Sport model, giving it a distinctive appearance, separate from the Luxury and Premium Luxury trims. This one has a gloss black mesh grille, black trim throughout the exterior and Sport-specific wheels — the others rely much more heavily on chrome. Cadillac stepped it up in the design studio for the XT4, as one of its best qualities is the exterior design. It compares well to other small crossovers and doesn't look like your typical cookie-cutter crossover on the road. ThereÂ’s only one engine available, and itÂ’s a 2.0-liter turbocharged four-cylinder that makes 237 horsepower and 258 pound-feet of torque. When the XT4 came out for the 2019 model year, this engine was brand new. Today, Cadillac is passing it around the lineup to vehicles like the CT5 and CT4. A nine-speed automatic transmission is the only transmission option, as well. Our tester has all-wheel drive, but front-wheel drive is standard on lesser XT4s. There isnÂ’t a whole lot changed for the 2020 model year, but Cadillac did add an “Off Road” mode and made a bunch of safety equipment standard. With our test car being a Sport trim with all-wheel drive equipped, the base price is $42,295, a fair bit greater than the $36,690 standard car. After options, our XT4 totaled $48,310. The most expensive extra is a $1,500 Bose Centerpoint audio system, combined with navigation. An $1,100 Driver Assistance package brought adaptive cruise control, enhanced automatic emergency braking and reverse automatic emergency braking. A Cold Weather package added heated seats all around and a heated steering wheel for $850. Finally, the $470 Driver Awareness package brought automatic high beams and lane-keep assist. Senior Editor, Green John Beltz Snyder: This one grew on me the more I drove it. I was unconvinced for the first part of my drive, but then things started to feel more well-though-out as I used them. For instance, the line of buttons across the center stack looks daunting, until you turn the car on and their labels are illuminated. Then everything is easy to find thanks to the lighting, symmetry and the fact that you only have to look down a single line of buttons rather than hunt around a grid pattern.

Woman thwarts car thieves by jumping on hood

When a pack of car thieves tried to steal a Milwaukee-area woman's car at a gas station, she didn't run for help. Oh no. She hulked out, jumped on the hood, and screamed her head off until the thief finally ran off. According to WISN, Melissa Smith was gassing up her white Subaru Outback at a BP station near Milwaukee's historic Third Ward on the afternoon of May 24. As she stood there pumping gas and minding her own business, a black Cadillac swung slowly around the front of the Subie and came to a stop just off the front left corner. As Smith turned her back to hang up the pump nozzle, a dude bailed out of the Caddy, crouched down, and snuck into the Outback's driver's seat. "I didn't see him till I saw him get into my car. Or someone was in my car, and had my, 'Oh, hell this isn't happening to me today' moment," Smith told WISN. As soon as she saw the thief in her car, Smith ran around the front then leaped on to the hood. She started yelling and pounding on the windshield as the thief tried to pull away from the pump, but he refused to stop. He tried a couple quick stops in an attempt to shake her off, but to no avail. "He looked at me, and he laughed at me, which really irritated me," Smith said. "He was laughing while I was on my car, and he was trying to throw me off, so zero remorse." Smith clung to the Subaru, shouting and pounding until the thief gave up. He abandoned ship, jumped back into the Caddy, and the group of thieves sped away. Unfortunately, when the thief bailed he left the Subie in gear with Smith still holding on for dear life. "Then I had to chase my car into the street and stop it before it hit somebody else," Smith said. Thankfully, Smith was unharmed in the incident, but the crooks got her purse, phone, wallet, and sunglasses. Milwaukee police are still looking for the suspects, who they say stole the black Caddy before trying to steal Smith's Subaru. Related Video: News Source: NBC News, WISN Auto News Weird Car News Cadillac Subaru Crossover Sedan carjacking milwaukee