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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 Ford Expedition vs other big SUVs: How it compares on paper

With our Alex Kierstein rightly impressed in his first-drive review of the new 2018 Ford Expedition, we decided to dig a little deeper into the numbers, and we came up with the spreadsheet below to highlight how the new 2018 Expedition compares on paper to its main full-size SUV competitors: the 2018 Chevy Tahoe and Suburban (and therefore the 2018 GMC Yukon), 2018 Toyota Sequoia and 2018 Nissan Armada. We also threw in the new, even bigger 2018 Chevrolet Traverse since, as you'll see, its massive dimensions should put it on the radar for anyone who needs loads of passenger and cargo space but doesn't care as much about towing. A few notes about the chart above. First, the 6.2-liter V8 that's included with the new-for-2018 Tahoe RST trim level is the standard engine on the GMC Yukon Denali. You can apply most of the Tahoe's numbers to the entire Yukon and Yukon XL lineup. Second, though we highlighted categories where the Traverse led, we also highlighted the runner-up full-size SUV, since this was ultimately about that segment. Traverse numbers are broadly applicable to the new Buick Enclave. Related Video: Chevrolet Ford GMC Nissan Toyota SUV Comparison consumer ford expedition gmc yukon chevy traverse toyota sequoia nissan armada chevrolet tahoe ford expedition max

MotorWeek looks back at 1995 Chevy Tahoe, GMC Yukon

MotorWeek's Retro Review series gives us a nostalgic look back at some of the best sports cars and luxury sedans available in the 1980s and '90s. For its latest clip, the show shifts gears to remember the 1995 Chevrolet Tahoe and GMC Yukon. Similar to the success of crossovers today, SUVs were tallying big sales and making big money for automakers in the mid-'90s. The Tahoe and Yukon filled slots in the market as steps down from the larger Suburban. These twins weren't wanting for space, though, with plenty of room to haul around a family. MotorWeek came away generally impressed too, and called the models some "of the better riding sport utilities we've ever experienced." This review comes with some jazzy, electric guitar licks to enjoy in the background.