1958 Apache Chevrolet Pick Up Truck 3100 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.

Is this '47 Chevrolet a rat rod or a sports car?

These days there are plenty of vehicles that blur the conventional automotive class structures. For instance, was the Honda Crosstour a wagon or an SUV? And what exactly was the Nissan Murano CrossCabriolet? Regardless, those line-blurring cars (or trucks) are out there, and though this one didn't roll off a production line, it's still quite the automotive head-scratcher. Hailing from Missouri, this epic creation is one part mad science experiment, one part 1947 Chevrolet pickup, and one part '95 Mercury Cougar. Add it all up and you get an awesome truck-sports-car hybrid, complete with an outrageous wing and a V8 to boot. And interestingly enough, it's up for sale . RELATED: Check out this Wild-Styled Lamborghini Rat Rod So how does it all come together? According to the listing, the Chevrolet truck cab (which had previously been chopped) was sanded down to bare metal and given a thorough shellacking of clear coat. It was then melded together with the front end of a 1995 Chevrolet S10 pickup truck, and set low to the ground on Bilstein suspension drop spindles. Stance achieved. But instead of fielding an engine from either of those pickups, it pulls its heart from a 2005 Chevrolet Tahoe SUV—a big 5.3-liter V8 heart, that is. It comes backed-up to a GM Turbo 400 automatic transmission. Towards the rear however is where things get really interesting. A Copper Pearl coated tube frame chassis both attaches the rear independent suspension (a la Mercury Cougar) to the racy spoiler, as well as secures the rat rod's rear-mounted radiator, fan, and fuel tank. I'm not quite sure why, but it just looks glorious. RELATED: Reports Say Mid-Engine Corvette Will Arrive in 2018 Inside the vintage cab, the Chevrolet furthers its racing proclivities (it's said to have won burnout and auto-cross events) with a pair of harnessed racing seats, a drift brake, a detachable steering wheel, and a tachometer with oil and temperature gauges, but oddly no speedometer. The shifter is a crescent wrench. And its shift boot? That's a Crown Royal Purple bag. All in all, this grin-worthy Frankenstein creation tallies up bits and pieces from four different vehicles (five if you include the Camaro wheels), which make it truly a mash-up of epic proportions. Internet, what do you think? Related Video: This article by Zach Doell originally appeared on Boldride. Design/Style Chevrolet Mercury Auctions Coupe Special and Limited Editions Classics eBay rat rod

GM, UAW poaching Nissan workers in Tennessee

General Motors and the United Auto Workers are going on a recruitment drive at the Spring Hill factory in Tennessee, and they're hoping to poach some skilled workers from Nissan's nearby plant in Smyrna, TN. The General and the union even bought a billboard advertising for industrial electricians near the Japanese automaker's facility, according to the Daily News Journal. The reason for the billboard was simple. "GM was short of electricians," said Tim Stannard, the president of the UAW local at Spring Hill, to the Daily News Journal. The factory currently builds the Chevrolet Equinox but has a contract to assemble the next generation of Ecotec engines and the Cadillac XT5, which replaces the SRX. Thanks to the $185-million deal, employment there is expected to double by May 2016, according to Stannard, with roughly 1,800 additional union jobs. Beyond just several billboards, GM has job postings online for the Spring Hill plant looking for workers with specific skills. There has already been some interest in the positions among Nissan employees, Stannard indicated. According to a recent study by the Center for Automotive Research, the average GM worker currently makes $58 an hour, including benefits. Comparatively, Nissan pays an average of $42 an hour with benefits. The General's number could change in the coming weeks because its contract with the UAW is about to expire, and higher wages are among the major negotiating points.