1969 Chevrolet El Camino 350 V8 Complete Frame Up Restoration! on 2040-cars

Auto blog

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.

2016 Chevrolet Spark lights up New York

The little Spark has been somewhat of a surprising entry in the modern Chevy lineup in the US. Given its diminutive stature, you might have expected the slightly larger Sonic to cannibalize the tiny sibling's sales, but that hasn't happened. The Bowtie moved 39,159 Sparks in the US in 2014, a 14.7 percent boost from the previous year. Now at the 2015 New York Auto Show, the latest generation is being unveiled with a new engine and much improved styling. Replacing the current 1.2-liter four-cylinder is an all-aluminum 1.4-liter unit making 98 horsepower. That still doesn't sound like much, but it's 16 percent more than the 2015 Spark. The new mill can be connected to either a five-speed manual or a continuously variable transmission with which Chevy estimates 40 miles per gallon highway fuel economy. The 2016 Spark also gets a longer wheelbase and 1.6-inch lower overall height. Combined with more elliptical headlights at the front, the changes make for a somewhat more sleek appearance than the current, boxy model. The platform underneath is more rigid as well, and Chevy claims the latest underpinnings mean better handling and lower NHV levels inside. The little hatch isn't growing up too much, though, and gets a trio of new colors that sound like jellybean flavors: Toasted Marshmallow, Kalamata and Splash. Chevy is packing the interior with better quality materials and improved tech. Chevy's latest seven-inch MyLink system sits in the center stack with a capacitive touchscreen, and it now comes with a physical volume control and other buttons for easier use. All models also get a rearview camera, and a LCD instrument cluster remains in front of the driver. The available suite of safety systems includes Forward Collision Alert, Lane Departure Warning and Side Blind Spot Alert. The 2016 Spark goes on sale in the US in the fourth quarter of 2015 and is produced in South Korea. Expect a gallery showing off all its new styling from the New York show floor soon.

eBay Find of the Day: Mario Andretti's personal 2009 Corvette ZR1

With victory in the the Indianapolis 500, a Formula 1 World Championship, a win in the Daytona 500 and too many other motorsports accomplishments to list, Mario Andretti stands among not just the greatest American racing drivers of all time, but the greatest drivers, full stop. Apparently, the champ is also a fan of speed when not on the track, because now there's a chance to own what is said tobe his personal 2009 Chevrolet Corvette ZR1 with just 12,872 miles on the clock. The eBay Motors auction page clearly shows Mario Andretti standing with the car, but the rest of the ad is admittedly short on details. The vehicle history report lists only one previous owner – ostensibly Andretti. The exterior is a handsome Blade Silver Metallic accompanied by a Dark Titanium leather interior. However, the seller keeps additional information to a minimum as well with the description simply stating, "This 2009 Chevy Corvette ZR1 is owned by Mario Andretti and has been garage kept all its life. It is fully loaded with all option on this car." The future buyer will get a seriously great car along with some huge bragging rights at any party by touting its ownership history. We've reached out to the seller for more particulars and provenance, and will update this story if we hear back. In the meantime, the auction for this C6 ends on Thursday, January 8, and currently the reserve isn't met. The price sits at a hefty $68,100 as of this writing, with six bids registered. Featured Gallery 2009 Chevrolet Corvette ZR1 owned by Mario Andretti Auction News Source: eBay MotorsTip: Roger Celebrities Motorsports Chevrolet Auctions Coupe Performance chevy corvette zr1