2011 Cadillac Escalade Ext Base 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.

Cadillac to add small sedan, crossover as part of major product blitz

Cadillac will add a small sedan and a compact crossover to its lineup in the next several years as part of an ambitious product blitz that will remake its lineup. The sedan will slot below the ATS, which is currently Cadillac's smallest four-door car. It's scheduled to arrive in 2017, Cadillac president Johan de Nysschen told Autoblog at the Detroit Auto Show. The sedan will be followed late that year or in early 2018 by a compact crossover, which will be positioned below the SRX. The crucial redesign of the SRX – Cadillac's top seller – arrives in 2016. It will switch to the brand's new naming system and change to an "XT" prefix followed by a number. The naming scheme debuts on the CT6, which launches in late 2015 and will be positioned above the CTS and XTS sedans. Cadillac also wants to add another crossover that sits between the SRX and its flagship SUV, the Escalade, at some point. Further out, Cadillac's long-awaited Mercedes-Benz S-Class fighter could arrive around 2020, and it would serve as the flagship or "showcase of the brand," de Nysschen said. Cadillac is also looking to expand its powertrain portfolio and is contemplating a wide range of options, including hybrids, plug-in electric vehicles and diesel engines. The new cars and crossovers are part of a $12-billion investment in Cadillac, which de Nysschen described as "an unheard level of capital" from General Motors. In total, the brand will receive eight new products through 2020. "Our product offensive will provide the substance for our ambitions," he said. De Nysschen has set high goals – and made major changes – at Cadillac since he took over the 113-year-old luxury brand in September. The brand moves to a separate headquarters in New York this year, away from GM's base in Detroit, and it has switched advertising agencies in a bid to elevate its image. Cadillac's sales declined 6.5 percent in the United States in 2014 to 170,750 units, and it has the smallest volume of GM's four brands. "Here in the US we continue to make progress, but we also face challenges," de Nysschen said. He added the brand's lineup "clearly limits our growth opportunities in the US market." Still, de Nysschen is taking the long view for Cadillac, noting it took years to turn around Audi, where he was president of its US operations for eight years. Cadillac's global sales have inched up five percent globally this year, spurred by a 47-percent surge in China.

Cadillac finds a few more horsepower for ATS-V

We've rarely found cause to complain about a car getting more power, and guess what? That's not going to change here. After initially announcing that the new ATS-V would come to market with a Corvette-matching 455 horsepower, Cadillac has come back with an SAE-certified 464 horsepower. That, as Automobile points out, puts the high-performance ATS in spitting distance of the base Mercedes-Benz C63 AMG and its 469 hp. Anyone else feeling bad for owners of the 425-hp BMW M3? While the ATS-V is getting a bit more grunt, somehow, we doubt Cadillac will adjust its previously published performance figures. Expect 60 miles per hour to arrive in 3.9 seconds, with a top speed of 185 mph. As of this writing, a lucky Autoblog staffer is lapping the ATS-V around Circuit of the Americas in Austin as part of the sedan's big launch. So while we can't fill you in on its real-world performance just yet, expect a big update soon. Related Video: