1993 Chevrolet C1500 454 Ss Standard Cab Pickup 2-door 7.4l on 2040-cars

Auto blog

GM announces net 220 job increase as Trump visits Michigan

GM announced today that about 900 jobs would be added (or, importantly, retained) ahead of President Trump's arrival in Michigan, where he is expected to discuss his plan to roll back fuel economy standards. The timing of the announcement is almost certainly not coincidental, as appending it to a Trump visit gives it a higher profile and dovetails with the President's jobs agenda. It's less likely the decision itself was made for those reasons, but the free PR boost is a nice bonus. As for those 900 jobs themselves, they aren't all new jobs. The only net gain is approximately 220 jobs at the Romulus Powertrain Plant, which produces the 10-speed automatic transmission that's proliferating through the company's lineup. The 180 jobs at Flint Assembly and 500 jobs at Lansing Delta Township are retained jobs – that is to say, spots the company found for workers who would otherwise have been laid off. By the way, the Flint jobs will help with production of heavy-duty pickups, and the Lansing jobs are to produce the Chevrolet Traverse and Buick Enclave. Finding jobs for manufacturing workers in the auto sector, whether new or retained, is admirable. No matter how GM couches it, the company has created or retained a total of 7,000 jobs this year, and its total reinvestment in US production is around $1 billion. But these decisions are business ones, not political ones – timing the announcements to make them seem inspired by economic policy, or the political situation, is simply smart PR. Related Video: Image Credit: Bill Pugliano/Getty Images Celebrities Government/Legal Buick Cadillac Chevrolet GMC

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.

Valet mode captures joyride in red Corvette

A man in California is among the first to catch a valet behaving badly in his 2015 Corvette using a controversial built-in recording feature. Dan Cowles told KTLA 5 when he bought his dream car, a 2015 Chevrolet Corvette Stingray, he opted for the Performance Data Recorder. The Corvette PDR uses a high-definition camera mounted in the windshield header, a microphone in the cabin and a GPS receiver that record and track the sports car's movements and sounds. They work together to produce a video with telemetry overlay, so you can see acceleration rates, lap times and g-forces. The system can be customized to show extensive performance data, or simply video of your drive like a traditional dash cam. It also comes with Valet Mode, which locks the glove box, disables entertainment and records video. The audio recording feature ran afoul of several state's recording consent laws, but this video has no audio, indicating the fix may have been as easy as turning off the microphone. Cowles dropped off his hot red 'Vette with the valets at the Segerstrom Center for the Performing Arts in Costa Mesa, CA. When he got his car back he checked the PDR and discovered footage of the valet taking a short, but intense, joyride in the garage. In the video, the valet finds a straightaway in a tiered parking garage and pushes the car to 50 miles per hour in five seconds before quickly stopping. He then parks the car without incident. The valet then gets out of the car and takes one more admiring look at the front. The valet company has yet to commented on the video, according to Fox News, but valets everywhere should be on notice; that little red Corvette you have your eye on may have its eyes on you. Related Gallery Ward's 10 Best Engines of 2015 View 10 Photos Chevrolet Driving Classics valet parking