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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.

The 2017 GMC Yukon XL Denali: Not just for the fertile set

I have a sis whom I've nicknamed "The Vickster." She is a beautiful Amazon, 6'1 on a good day and is the mom to a singleton. So why would my sis need to own a GMC Yukon XL Denali when she doesn't have a brood? Well to this I say, is there a written rule somewhere that states behemoth SUV's must be solely purchased by, you know, school-run moms? I think not! Even though the 2017 GMC Yukon XL Denali is tanker-sized and can swallow up to nine passengers, it has road presence and supreme luxury to boot which is a real draw for not just the fertile set. The Yukon XL Denali is an in-your-face kind of vehicle, and it was all in mine. The monolith has a presence, there's no denying, and even though it is big from every angle, it is far from odious. The stately looking ride has nicely defined slabs of metal, boxy proportions that make you look as it glides down the highway. Giving the Yukon XL my front-to-back once over, I liked its imposing mesh grille, nicely placed chrome accents and badges, riveting upsized wheels, and attractive high-intensity discharge (HID) headlamps and LED rear tail lamps. Once I settled into the cavernous and swanky realm of leather and mellow accent lighting that makes up the Yukon XL's interior, I then realized why "The Vickster" opted for this vehicle. The SUV's interior design is not overdone, no excessive bling to the point of blindness! Tasteful appointments on the Yukon XL include soft-touch leathers, aluminum trim, wood inlays, La-Z-Boy comfy seating in the first two rows (2nd-row power-release fold-and-tumble bucket seats); and thankfully, the non-gizmos overkill command center has large and ergonomically comfy controls. Space for a leggy crew is more than ample in the first and second rows. The SUV's available power folding, third-row fold-flat seats, however, are not exactly cut out for those who have gone past middle school as the seating is less bolstered and a little too close to the floor. Loved the wide and cushy center console that is not only spacious enough for hanging folders or a laptop but most importantly, it's elbow-friendly! Technology on the Yukon XL did not disappoint—particularly with the available built-in 4G Wi-Fi Hotspot for up to seven devices that kept me connected wherever I roamed.

GM files for Z71 Trail Boss trademark

Try as they might to keep their plans a secret, automakers have their hands tipped through a variety of methods – be they through loose lips, spy shots or patent and trademark applications. That's how we know, in this instance, that General Motors is working on (or at least considering) an off-road machine wearing the name Z71 Trail Boss – the name which our compatriots at AutoGuide.com tell us that GM has registered for use on light-duty trucks. Now if that alphanumeric designator sounds familiar, it should. GM has long used it to designate the off-road packages on many of its body-on-frame trucks from Chevy and GMC. These days you can order a Z71 package on the Chevy Colorado, Silverado, Tahoe and Suburban and on the GMC Canyon, Sierra and Yukon. The package typically includes components like a beefed-up suspension bits, high-capacity air cleaner and underbody protection plates. The Trail Boss designator would seem to suggest something further reaching than a suspension package, though. Just what it would entail we don't know; minds immediately start running toward Chevy or GMC going after the Ford F-150 Raptor, but we'll likely be looking at something closer to the Trailhawk packages Jeep offers on the likes of the Renegade and Cherokee. Featured Gallery 2015 Chevrolet Tahoe Z71 View 16 Photos News Source: AutoGuide.comImage Credit: Chevrolet Chevrolet GM GMC Truck SUV Off-Road Vehicles patent trademark