Vintage 1973 Cadillac Fleetwood Brougham on 2040-cars

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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.

2015 Cadillac Escalade blings its way into LA

The new Cadillac Escalade sauntered out onto the Los Angeles Auto Show stage, showing off its new familial face and redesigned interior. That exterior, with its slim, wrap-over headlights and tall, vertical taillights (both made up of LEDs) is a subtle but significant departure from the past styling of General Motors' flagship SUV.
And while there's no shortage of stuff to discuss about the Caddy's exterior, its cabin is where the big changes happen. Aside from the column-mounted shifter, the cabin receives a heavy going-over, receiving Cadillac's new CUE infotainment system and a significant upgrade to the materials. Comparing it to furniture, Eric Clough, Cadillac's director of design for interiors, said, "An exceptional level of craftsmanship has gone into the redesign of the 2015 Cadillac Escalade, and it all centers on the premium materials and extensive use of cut-and-sew live stitching."
Under hood sits a 420-horsepower, 460-pound-foot, 6.2-liter V8. Fitted with direct injection and active fuel management, fuel economy for the big Escalade should get a much-needed boost beyond the current model's 14-city and 18-highway miles per gallon, although official numbers haven't been published quite yet. A six-speed automatic is the sole gearbox choice. Cadillac has also fitted the new Escalade with GM's magnetic ride control system, which should deliver a more refined ride than its predecessor.

Chevy's low-cost pedestrian avoidance to debut on 2016 Malibu

The mainstreaming of safety technologies that began on luxury vehicles will get a big boost from General Motors later this year. The General says it plans to offer 22 driver assistance systems across its product portfolio of 2016 models, starting with the redesigned Chevrolet Malibu - the one that we know will keep tabs on teenagers for the benefit of parents. Pedestrian avoidance will be another of its available options. Instead of kitting the sedan out with numerous and expensive radar arrays, the GM system uses the camera mounted next to the rearview mirror that is already used for the lane-keeping function. New software lets it detect pedestrians, and when it detects a potential collision with one, it can alert the driver and brake autonomously if the driver doesn't react. Eventually, engineers want to give it the ability to do the same with cyclists. Because it uses existing hardware updated with new code, GM says the application costs "a few hundred dollars." GM demonstrated the Front Pedestrian Braking preventing a crash with a dummy pedestrian at speeds up to 15 miles per hour. Automotive News reports that it will reduce the severity of impact up to 40 miles per hour, but "may not be of much use in collisions at higher speeds." That feature will also join the options list of the Cadillac CT6. The press release below has more on GM's driver tech soon on the way. Related Video: GM Paving Way to Smarter and Safer Driving at All-New Active Safety Test Area 22 crash-avoidance technologies offered on 2016 Chevrolet, Buick, GMC and Cadillac models MILFORD, Mich. 2015-07-24 – Chevrolet, Buick, GMC and Cadillac will offer 22 different active safety technologies across their 2016 model year U.S. lineups, ranging from driver alerts to those that automatically intervene and assist the driver in critical situations. Safety engineers will develop and test these and other safety technologies for products around the world at GM's new, 52-acre Active Safety Test Area at its Milford Proving Ground near Detroit. The $14 million facility officially opened Friday. "Our comprehensive safety strategy of helping customers before, during and after a crash continues," said Jeff Boyer, vice president of GM Global Vehicle Safety.