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GMC says it's 'considering' an all-electric Sierra pickup

GM loves to talk about its electric future — Cadillac was just announced as the brand's official electric division — but trucks haven't been mentioned as a part of this electric revolution, so far. However, that may be changing. CNBC spoke with Duncan Aldred, vice president of GMC about the potential for an electric GMC Sierra. He replied, "Certainly, it's something we're considering." As the Sierra goes, so does the Chevrolet Silverado, and vice versa. But it would make sense for GM to introduce electrification to GMC first, followed by the Silverado. GMC already gets premium features such as the Multi-Pro tailgate are GMC exclusives, after all. It's also marketed as more high-end and premium, which could help make the cost of an electrified Sierra easier to recoup for GM, and easier to stomach for customers. This electric truck consideration could be in response to Ford's aggressive declaration of an electric F-150 the other day, as well as the electric concept trucks from Rivian and Bollinger. The concepts in particular have generated much excitement for their ridiculous claimed performance and shocking utility. If GMC is only "considering" it, then we imagine the brand isn't too far along the development path, if it's even started. Regardless, it's the most affirmative stance we've seen GM take on total electrification of a full-size pickup truck yet. We asked GMC for confirmation and for any clarification it could provide us on the Sierra's electric future, but a spokesperson responded with, "no comment." Related video:

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.

GM recall woes continue with 662,000 pickups trucks and Cruze sedans

General Motors can't seem to get its name out of the "bad news" column. Two more recalls were announced late Friday evening that will see The General calling in 490,200 fullsize pickup trucks and SUVs, along with 172,000 Chevrolet Cruze models.
For those keeping track, General Motors has issued recalls for an alarming 4.8 million vehicles so far since last month.
The Chevy Silverado 1500, Tahoe and Suburban, GMC Sierra 1500 and Yukon models from the 2014 and 2015 model years are being recalled for a flaw in their transmissions wherein loose oil cooler lines may cause a fire. The automaker said in a statement (see below) that it knows of three incidents of loose transmission lines causing problems, but no injuries. We can't confirm whether it was this transmission issue that caused the widely publicized blaze that consumed a 2015 GMC Yukon that was being test driven in California.