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GM recalling 1.5M cars in China for faulty bracket

General Motors and its Chinese partners have announced their second recall in the People's Republic this year, following a 2,653-unit recall of the Cadillac SRX earlier this year. This latest recall affects nearly 1.5 million cars built between 2006 and 2012. It's not explicitly stated, but as there's no movement from the US NHTSA, we suspect that the cars in question were all Chinese-built rather than imports.
The vast majority of the affected vehicles are Buick Excelles (pictured), with 1.2 million units being recalled over a faulty bracket that's meant to secure the fuel pump. The Excelles in question were built between 2006 and 2012, while an additional 250,000 Chevrolet Sail superminis, built between April 2009 and October 2011, are being recalled for a similar reason.
According to the PRC's Administration for Quality Supervision, Inspection and Quarantine, the faulty bracket could crack and potentially cause a fuel leak.

Texas sues GM, saying it tricked customers into sharing driving data sold to insurers

Texas filed a lawsuit Tuesday against GM over years of alleged abuse of customers' data and trust. New car owners were presented with a "confusing and highly misleading" process that was implied to be for their safety, but "was no more than a deceptively designed sales flow" that surrendered their data for GM to sell. The suit contends that at no point was selling driving data ever even suggested as a possibility, putting GM in violation of the state's consumer protection laws. Texas Attorney General Ken Paxton is seeking a jury trial and at least $10,000 per offense (every GM car sold in the state since 2015) and a hefty add-on of $250,000 in cases where the victim was over 65. Texas seems to be flying high after a recent $1.4 billion settlement from Meta over other privacy concerns. This may well be a way to solve any pending budgetary issues in the Lone Star State.

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.