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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.

Which electric cars can charge at a Tesla Supercharger?

The difference between Tesla charging and non-Tesla charging. Electrify America; Tesla Tesla's advantage has long been its charging technology and Supercharger network. Now, more and more automakers are switching to Tesla's charging tech. But there are a few things non-Tesla drivers need to know about charging at a Tesla station. A lot has hit the news cycle in recent months with regard to electric car drivers and where they can and can't plug in. The key factor in all of that? Whether automakers switched to Tesla's charging standard. More car companies are shifting to Tesla's charging tech in the hopes of boosting their customers' confidence in going electric.  Here's what it boils down to: If you currently drive a Tesla, you can keep charging at Tesla charging locations, which use the company's North American Charging Standard (NACS), which has long served it well. The chargers are thinner, more lightweight and easier to wrangle than other brands.  If you currently drive a non-Tesla EV, you have to charge at a non-Tesla charging station like that of Electrify America or EVgo — which use the Combined Charging System (CCS) — unless you stumble upon a Tesla charger already equipped with the Magic Dock adapter. For years, CCS tech dominated EVs from everyone but Tesla.  Starting next year, if you drive a non-Tesla EV (from the automakers that have announced they'll make the switch), you'll be able to charge at all Supercharger locations with an adapter. And by 2025, EVs from some automakers won't even need an adaptor.  Here's how to charge up, depending on which EV you have:  Ford 2021 Ford Mustang Mach-E. Tim Levin/Insider Ford was the earliest traditional automaker to team up with Tesla for its charging tech. Current Ford EV owners — those driving a Ford electric vehicle already fitted with a CCS port — will be able to use a Tesla-developed adapter to access Tesla Superchargers starting in the spring. That means that, if you own a Mustang Mach-E or Ford F-150 Lightning, you will need the adapter in order to use a Tesla station come 2024. But Ford will equip its future EVs with the NACS port starting in 2025 — eliminating the need for any adapter. Owners of new Ford EVs will be able to pull into a Supercharger station and juice up, no problem. General Motors Cadillac Lyriq. Cadillac GM will also allow its EV drivers to plug into Tesla stations.

Facelifted Cadillac ATS spied completely uncovered

The Cadillac ATS makes for a pretty svelte little coupe, and General Motors appears to know it, because multiple, completely undisguised prototype sedans have been spotted testing wearing what look like many of the forthcoming coupe's body parts.
Not only does it wear at least the outline of the brand's new, broader crest, it has the same front air dam with continuous chrome strip found on the coupe. The only real difference is that it has the somewhat taller side view mirrors from the sedan, rather than the narrower, longer ones from the coupe. Around back, the changes are harder to spot because the test car is outfitted with an unpainted lower bumper. However, it seems to lack the chrome strip that offsets the lower portion of the coupe from the sedan.
The ATS sedan is already a looker, but it is good to see Cadillac is taking a second pass using what it learned on the coupe. There's no word yet on when this revised sedan is going to hit the streets - let alone what changes will take place beneath the skin - but we're thinking it looks about right for 2015.