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Ecotec 13k Miles Leather Heated Seats Alloys Keyless Go Pdc Premium Sound on 2040-cars

US $10,980.00
Year:2012 Mileage:13280 Color: Color
Location:

Houston, Texas, United States

Houston, Texas, United States

2012 Chevrolet Cruze LTZ 4-Door Sedan
Exterior Color:     Crystal Red Tintcoat Interior Color:     Cocoa with Light Neutral Stock Number:373565
Mileage:13,280 Engine:I4 1.4L DOHC Fuel:Gasoline
Transmission:Automatic Warranty:As Is - No Warranty Title:Salvage
VIN:1G1PH5SC3C7373565 CARFAX:CARFAX Buyback Guarantee
2012 Chevrolet Cruze LTZ - Photo 1 - Houston, TX 77031

2012 CHEVROLET CRUZE LTZ
13K ORIGINAL LOW MILES

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Vehicle Description
Ultimate Motorsport Presents
2012 Chevrolet Cruze LTZ
 
LEATHER ! ALUMINUM TRIM ! PREMIUM ALLOYS ! HALOGENS !
COLD WEATHER PACKAGE ! KEYLESS GO ! PDC !
PREMIUM SOUND SYSTEM !
 
 
2012 CHEVROLET CRUZE LTZ WITH 13K ORIGINAL LOW MILES !
 
ADD A 3 MONTH 3,000 MILE WARRANTY
FOR ONLY $ 295
ASK US FOR DETAILS ON A 4 YEAR UNLIMITED MILES NATION WIDE WARRANTY !!
 
PEACE OF MIND ! BUY WITH CONFIDENCE !!
 
 
70+ PICTURES BELOW AFTER DESCRIPTION
 
THIS CAR IS LOADED WITH THESE OPTIONS:
TELESCOPING STEERING WHEEL WITH CONTROLS
CRUISE CONTROL
AC AND HEAT
ALARM SYSTEM WITH KEYLESS ENTRY
KEYLESS START GO
FULL LEATHER ANDALUMINUM TRIM INTERIOR
HOMELINK
BLUETOOTH EQUIPPED
ON STAR EQUIPPED
POWER HEATED LEATHER SEATS
PREMIUM SOUND SYSTEM WITH CD AM FM
POWER WINDOWS AND MIRRORS
TRACTION CONTROL
PREMIUM ALLOY WHEELS
TINTED WINDOWS
PARK DISTANCE CONTROL
LTZ PACKAGE
1.4 LITER 4 CYLINDER
REMOTE KEY
 
 
MUCH MUCH MORE SEE IT TO BELIEVE IT !!!
 
Beautiful CRYSTAL RED TINCOAT on
BEIGE LEATHER WITH FULL WOOD TRIM Interior!!
 
Low Buy It NOW or Make us an Offer NOW!!

100% Positive Feedback
OWN THIS BEAUTY at a Fraction of the
Original $ 26,000 Price!!!
COMPARE AT
KELLY BLUE BOOK $ 18,091
NADA RETAIL $ 17,980

OUR BUY IT NOW $ 10,980
WOW ! WHAT A DEAL  !!!
 
WONT LAST LONG AT THIS PRICE !!! CALL US TODAY AT
281-506-8808

If You are Looking for a CHEVROLET CRUZE LTZ with all the options with LOW MILES, You Don't Have to Look any Further!!!
DON'T SLEEP ON THIS ONE!

NOTE: JUST LIKE ANY USED VEHICLE FEW VERY MINOR NICK NACKS DUE TO NORMAL WEAR AND TEAR AND ROAD DEBRIS.
REMEMBER: YOU ARE BUYING A TOP LOADED USED VEHICLE IN CLEAN CONDITION NOT A BRAND NEW ONE!

Bid with Excitement & Confidence!!!
Only at ULTIMATE MOTORSPORT !!
Good Luck & Happy Bidding!!!
FOR ANY QUESTIONS FEEL FREE TO CALL US AT
281-657-7293

So, If you are in the market for a LATE MODEL, VERY AFFORDABLE CHEVROLET CRUZE LTZ, then you owe it to yourself to take a closer look

LOW BUY-IT-NOW or MAKE AN OFFER!!!
 
WE FINANCE ! APPLY ONLINE FOR AUTO LOANS AS LOW AS 2.99%

FOR ANY QUESTIONS OR CONCERNS FEEL FREE TO CONTACT @ (281) 506-8808
or email sales
 
DOOR TO DOOR SHIPPING AVAILABLE ASK FOR A QUOTE !
We Export For Canadian Customers
Email:
sales@ultimatems.com
Call
281-506-8808
Visit
10311 Altonbury Lane
Houston TX 77031
 
 
 
Additional Photos
2012 Chevrolet Cruze LTZ - Photo 2 - Houston, TX 77031

BEAUTIFUL CRYSTAL RED TINCOAT

2012 Chevrolet Cruze LTZ - Photo 3 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 4 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 5 - Houston, TX 77031

PARK DISTANCE CONTROL

2012 Chevrolet Cruze LTZ - Photo 6 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 7 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 8 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 9 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 10 - Houston, TX 77031

HALOGEN HEADLIGHTS

2012 Chevrolet Cruze LTZ - Photo 11 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 12 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 13 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 14 - Houston, TX 77031

STEERING WHEEL CONTROLS

2012 Chevrolet Cruze LTZ - Photo 15 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 16 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 17 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 18 - Houston, TX 77031

13K ORIGINAL LOW MILES

2012 Chevrolet Cruze LTZ - Photo 19 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 20 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 21 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 22 - Houston, TX 77031

ALUMINUM TRIM INTERIOR

2012 Chevrolet Cruze LTZ - Photo 23 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 24 - Houston, TX 77031

HEATED LEATHER SEATS

2012 Chevrolet Cruze LTZ - Photo 25 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 26 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 27 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 28 - Houston, TX 77031

PREMIUM LEATHER SEATS

2012 Chevrolet Cruze LTZ - Photo 29 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 30 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 31 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 32 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 33 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 34 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 35 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 36 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 37 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 38 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 39 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 40 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 41 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 42 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 43 - Houston, TX 77031

1.4 LITER 4 CYLINDER ENGINE

2012 Chevrolet Cruze LTZ - Photo 44 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 45 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 46 - Houston, TX 77031

18' ALLOY WHEELS

2012 Chevrolet Cruze LTZ - Photo 47 - Houston, TX 77031
2012 Chevrolet Cruze LTZ - Photo 48 - Houston, TX 77031

REMOTE KEY

2012 Chevrolet Cruze LTZ - Photo 49 - Houston, TX 77031
Contact Information
Name: Sales Department Main Phone: (281) 506-8808 Alt. Phone: (281) 657-7293
Vehicle Features & Options
Standard Features
Appearance /
  Exterior:
  • Chrome Door Handle Color
  • Body-Color Mirror Color
  • Chrome Window Trim
Appearance /
  Interior:
  • Leather Accents
  • Metallic-Tone Accents
Comfort:
  • Height Adjustable Adjustable Rear Headrests
  • Air Filtration
  • Cargo Area Light
  • Carpet Floor Mats
  • Front and Rear Floor Mats
  • Single Front Air Conditioning Zones
  • Automatic Climate Control Front Air Conditioning
  • Height Adjustable Front Headrests
  • 2 Number of Front Headrests
  • 3 Number of Rear Headrests
  • Front Reading Lights
  • Leather Shift Knob Trim
  • Leather Steering Wheel Trim
Convenience:
  • Front and Rear Assist Handle
  • Front Bottle Holders
  • Front Console With Armrest and Storage
  • Cruise Control
  • Front and Rear Cupholders
  • Keyless Entry Multi-Function Remote
  • Two 12V Power Outlet(s)
  • Electric Power Steering
  • Remote Trunk Release
  • Retained Accessory Power
  • Steering Wheel Mounted Audio Controls
  • Steering Wheel Mounted Phone Controls
  • Tilt and Telescopic Steering Wheel
  • Accessory Hook
Drivetrain /
  Suspension:
  • 4-Wheel ABS
  • 3.53 Axle Ratio
  • Lower Control Arms Front Arm
  • 10.8 Front Brake Diameter
  • Disc Front Brakes
  • Diameter 25 Mm Front Stabilizer Bar
  • Independent Front Suspension
  • Macpherson Struts Front Suspension
  • 10.5 Rear Brake Diameter
  • 0.5 Rear Brake Width
  • Disc Rear Brakes
  • Multi-Link Rear Suspension
  • Torsion Bar Rear Suspension
  • Roll Stability Control
  • Electronic Stability Control
  • Traction Control
Entertainment /
  Telematics:
  • Mast Antenna
  • Jack Auxiliary Audio Input
  • Usb Auxiliary Audio Input
  • Driver Information System
  • Fuel Economy Display
  • Single Disc In-Dash CD
  • CD MP3 Playback MP3 Player
  • Oil Monitor
  • Bluetooth Phone Wireless Data Link
  • Radio Data System
  • AM/FM Radio
  • Onstar W/Turn-By-Turn Navigation Satellite Communications
  • Siriusxm Satellite Radio
  • 6 Total Number of Speakers
  • Low Fuel Level Warnings and Reminders
Exterior:
  • Ambient Lighting
  • Daytime Running Lights
  • Front Fog Lights
  • Auto Delay Off Headlights
  • Auto On/Off Headlights
  • Dusk Sensing Headlights
  • Halogen Headlights
  • Led Rear Center Brakelight Tail and Brake Lights
Rims / Tires:
  • Kit
  • Polished Alloy Rim
  • Temporary Tires
  • Steel Spare Wheel Rim
  • Tire Pressure Monitoring System
  • All Season Tires
Roof / Glass:
  • Variable Intermittent Front Wipers
  • 4 One-Touch Windows
  • Power Windows
  • Rear Defogger
  • Tinted
Safety:
  • Remote 2-Stage Unlocking
  • Alarm With Engine Immobilizer Anti-Theft System
  • Theft-Deterrent System Anti-Theft System
  • Child Safety Locks
  • Latch System Child Seat Anchors
  • Front and Rear Crumple Zones
  • Emergency Interior Trunk Release
  • Heated Exterior Mirrors
  • Manual Folding Exterior Mirrors
  • Power Exterior Mirrors
  • Dual Front Airbags
  • Impact Absorbing Bumpers
  • Auto-Dimming Inside Rearview Mirror
  • Dual Front Knee Airbags
  • Rear Parking Sensors
  • Occupant Sensing Passenger Airbag Deactivation
  • Remote Power Door Locks
  • Safety Brake Pedal System
  • Front and Rear Side Airbags
  • Front and Rear Side Curtain Airbags
  • Side-Curtain Airbag Rollover Sensor
  • Dual Illuminating Vanity Mirrors
Seating:
  • Folding With Storage Center Armrest
  • Bucket Front Seats
  • 3-Point Front Seatbelts
  • Heated
  • Height Adjustable
  • 6 Manual Adjustments
  • Recline Manual Adjustments
  • 6 Power Adjustments
  • Rear Heat Vents
  • Front Seatbelt Pretensioners
  • 3-Point Second Row Seatbelts
  • 60-40 Split Bench Seating
  • Leather-Appointed Upholstery

Installed Options
Appearance /
  Exterior:
  • Crystal Red Metallic Tintcoat
  • License Plate Bracket
Entertainment /
  Telematics:
  • Audio System Feature
    View our eBay Feedback:

    eBay Motors
    ultimate_motorsport_inc
    Financing Information
    We Finance ! Rates a slow as 2.99% with Approved credit
    Fill out our credit app today by clicking the link above !
    Shipping Information
    WE SHIP AND EXPORT WORLDWIDE
    GREAT LOW NATIONWIDE US SHIPPING RATES !!
    Canadian Customers Welcome
    Email us your zip code for Special Shipping Rates !
    email sales@ultimatems.com
    If Outside US or Canada email us your Port City and Country
    for a quote !
    Dealership Information
    Ultimate Motorsports
    Main Phone:(281) 506-8808
    Alt. Phone:(281) 657-7293
    Email:sales@ultimatems.com
    Business Hours:
    Weekdays:9:00 AM to 7:00 PM
    Saturday:10 TO 5PM
    Sunday:CLOSED
    Location:
    10311 Altonbury Lane
    Houston, TX 77031
    Map of Ultimate Motorsports at 10311 Altonbury Lane, Houston, TX 77031
    Terms of Sale
    Standard Terms & conditions
     

    PLEASE READ CAREFULLY! BY SUBMITTING A BID, MAKING AN OFFER OR CLICKING THE BUY IT NOW YOU ARE AGREEING TO THE FOLLOWING TERMS AND CONDITIONS.

    Fee and Tax Information: All Texas residents will pay 6.25% state sales tax and $ 133 Title Fee. This only applies to Texas Residents ONLY! Out of State customer only pay :

    All sales are subject to Texas V.I.T. tax based at a rate of .002834% of purchase price and $395.00 Processing fee.

    PAYPAL IS FOR DEPOSITS ONLY. WE DO NOT ACCEPT FULL PAYMENTS THOUGH THE PAYPAL.

    FINANCING IS AVAILABLE WITH APPROVED CREDIT (WAC) ONLY ! ALL BUY IT NOW PRICES LISTED ARE FOR CASH BUYERS OR IF CUSTOMERS ARRANGE THEIR OWN FINANCING !!!

    IF YOU CHOOSE TO CLICK THE BUY IT NOW OPTION YOU ARE REQUIRED TO PICK UP THE VEHICLE LOCALLY AND ADDRESS ANY ISSUES BEFORE THE VEHICLE LEAVES THE LOT.

    Please contact SALES@ultimatems.com or 281-657-7293
    Winning bidder must contact us within 24 hours of auction end, and make arrangements for payment at that time. A $500.00 NON REFUNDABLE deposit is due within 24 hours of end of auction. The remainder is due within 7 days of Auction end. If no contact is made within 24 hours we reserve the right to re-list the vehicle, sell it to the next high bidder, or sell it otherwise.  Most banks and credit unions do not finance vehicles older than 2002 or with more than 100K miles. Make sure if financing, your financial institution accepts the year and miles of this vehicle before bidding. Please arrange financing prior to bidding.
    Buyer is responsible for pickup or shipping of this vehicle. If you wish to have it shipped using a service, we will gladly cooperate, you can locate shippers by doing a search for `auto shippers`.
    If you are not sure about something, Please ASK. Do not assume anything not listed is included. We reserve the right to cancel bids for excessive negative feedback. We reserve the right to end the listing if the vehicle is no longer available for sale.
    Please do not bid on this auction unless you are serious about owning this vehicle.  All non-paying high bidders will be reported to Ebay, and negative feedback posted.
    PLEASE ONLY BID WHAT YOU ARE WILLING TO PAY.  IF THE RESERVE IS NOT MET, WE MAY CONTACT THE HIGH BIDDER TO OFFER THE SECOND CHANCE OPTION.
    By placing a bid on this vehicle you are entering into a legal and binding contract to purchase the above-described vehicle. We reserve the right to cancel all existing bids and end the auction early should the item no longer be available for sale.
    By bidding and buying this auction, you enter a contract that you have read and understood all the terms and conditions of this auction. 
    We reserve the rights to sell the car outside the ebay auctions. We reserve the right to end the auction anytime. We reserve the right to cancel any bid from any bidder. 
    This vehicle is being sold as is, where it is with no warranty, expressed written or implied. In either case, The seller shall not be responsible for the correct description, authenticity, genuineness, or defects herein, and makes no warranty in connection therewith. No allowance or set aside will be made on account of any incorrectness, imperfection, defect or damage. Any descriptions or representations are for identification purposes only and are not to be construed as a warranty of any type. It is the responsibility of the buyer to have thoroughly inspected the vehicle, and to have satisfied himself or herself as to the condition and value and to bid based upon that judgment solely. The seller shall and will make reasonable effort to disclose any known defects associated with this vehicle at the buyer's request prior to the close of sale. Seller assumes no responsibility for any repairs regardless of any oral statements about the vehicle.
    Please understand that the vehicles are Pre-Owned vehicles and at times, the vehicles may come without accessories such as extra keys, cd magazines, navigation discs, floormats, tools, and owner's manuals. Please call for the exact accessories included for the vehicle. 
    Buyer's are responsible for shipping costs.
    All bidders should have all questions answered and loans pre-approved before bidding. Please note that Non paying buyers would be handled by our attorney. Remember buying a car on eBay is legal binding contract.

    All vehicles are sold "AS IS". This is in full accordance with the laws of the State of TEXAS regarding motor vehicle sales. You the buyer/bidder must have a complete understanding that this vehicle is used and we do not know the complete history of this vehicle. We are presenting this vehicle to the best of our knowledge. The accuracy of our description is based on any and all information that we were able to obtain concerning this vehicle either by records, previous owners statements, or other statements if any made by the persons who sold or traded in this vehicle. We ULTIMATE MOTORSPORT Inc or any of its employees or agents will not be held responsible. All buyers are responsible for having an independent inspection completed on their vehicle of inetrest prior to sale or close of auction. You are welcome to fly in or schedule a inspection with several companies in Houston area to have a car professionally inspected.

    WE ARE NOT RESPONSIBLE FOR ANY REPAIRS OR INSPECTIONS PRIOR OR AFTER THE SALE OF AN AUTOMOBILE. ALL VEHICLES SOLD AS IS WHERE IS !!

    WE WELCOME INSPECTIONS BUT PLEASE DO INSPECTIONS BEFORE THE SALE IS CONFIRMED ! 

    This Agreement will be governed the laws of the State of Texas (without regard to principals of conflict of laws). Any claims arising out of or related to this Agreement or the Goods shall be brought exclusively in Harris County, Texas. Bidder submits to the jurisdiction of all such courts. BIDDER AND SELLER HEREBY WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY ACTION TO ENFORCE, DEFEND, CONSTRUE OR OTHERWISE CONCERNING THIS AGREEMENT OR THE GOODS. If it is necessary for bidder to commence litigation to enforce any portion of this Agreement, Seller will be entitled to recover from Bidder its reasonable attorneys’ fees and costs, including the reasonable fees of in-house counsel.

    Auction Views:  

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    Auto blog

    Recharge Wrap-up: Batty battery covers, Mercedes at Silvretta, new Hyundai Sonata Hybrid available in 2015

    Tue, Jul 8 2014

    Apparently, Chevrolet Volt battery covers make suitable homes for bats. As part of an Eagle Scout project, Matthew Netherland created 30 bat houses out of scrapped Volt battery covers donated by Chevy. 22 of the bat houses will be set up near hydroelectric dams in Michigan. Each bat house will accommodate 100 bats, and divert the scrapped materials from the landfill. The battery covers also make great nesting boxes for wood ducks, which General Motors has previously set up at its Milford, Michigan Proving Ground. Last weekend was the Silvretta E-Auto Rally, which saw emissions-free vehicles cross the Montafon Mountains in Austria, including cars from Mercedes-Benz. These cars included the B-Class Electric Drive, B-Class F-Cell, SLS AMG Electric Drive and even the Smart Fortwo Electric Drive. Also on hand for the Silvretta Classic Rally was a V8-powered C111, a 1978 Mercedes-Benz 450 SLC and 300 SL Roadster. Read more in the press release, below. BMW has finalized pricing for the i8 in the US at $135,700 (plus $925 in destination charges). In addition to the base price tag, which we've known for a while, BMW Blog has the complete pricing guide with options and packages. Most of the i8 orders were the Pure Impulse World package, which includes various aesthetic upgrades. It also provides membership to the BMW i Pure Impulse Program, which allows you to "to enjoy innovative ideas and trends in a variety of areas, including home styling, culture, gourmet gastronomy, design and many more." Head over to BMW Blog for more information. The new generation of the Hyundai Sonata Hybrid will arrive later than the rest of the model lineup, confirms Car and Driver. While the gas-powered Sonatas get updated now for the 2015 model year, the Hybrid remains unchanged until late this year or early 2015, when it will arrive as a 2016 model. Hyundai is offering a 2015 Sonata Eco edition, but with 28 miles per gallon in the city and 38 mpg highway (32 combined), it's not quite as appealing as the current Sonata Hybrid's 36/40/38 figures. Read more here. In June, average US fuel economy was 25.5 miles per gallon, making it the fifth straight month above 25 mpg, according to University of Michigan. The average window sticker ratings from vehicles sold in June dropped slightly from 25.6 mpg in May. The year started at 24.9 mpg in January, and hasn't dropped below 25 mpg since.

    2014 Chevy Silverado priced from *$24,585, V8 gets better economy than Ford EcoBoost V6

    Mon, 01 Apr 2013

    Chevrolet has thrown down the next hand in the pickup truck poker wars and revealed at least a couple of potential aces - depending on which numbers matter most to you. The 2014 2014 Silverado 1500 with its 5.3-liter EcoTec3 V8 gets 335 horsepower and 383 pound-feet of torque, is mated to a six-speed automatic, can tow 11,500 pounds with the optional Max Trailer Package and costs the same as the outgoing Silverado, $24,585 (*including $995 destination fee). Chevy says the Silverado also stands atop the fuel economy charts when comparing any competitor with a V8 engine - and some competitors with V6 engines. The two-wheel drive model returns 16 miles per gallon city, 23 mpg highway, 19 mpg combined in two-wheel drive guise and 16 mpg city, 22 mpg highway and 18 mpg combined as a four-wheel drive.
    For context around those numbers, the most fuel efficient V8-powered 2013 Ford F-150 pickups lose about two mpg in every metric compared to the Silverado, the 3.5-liter V6 EcoBoost returning 16 city, 18 highway and 22 combined in two-wheel drive. However, that EcoBoost does have 365 hp and 420 lb-ft of torque. You can get a Ram 1500 with a 3.6-liter V6 that gets 25 mpg highway, but it has 305 hp and 269 lb-ft of torque. The 2013 Ram with the 5.7-liter Hemi V8 and its 395 hp and 407 lb-ft drops one mpg in every category to the Silverado. Its tow rating is 200 pounds beyond its nearest competitor, the F-150 with the Max Trailer Tow Package.
    Elsewhere, the new Silverado gets a quieter cab with a redesigned interior, a new bed with improved load-management possibilities, disc brakes all around, tweaked steering and suspension, along with free standard scheduled maintenance for two years or 24,000 miles.

    GM raises 2023 guidance on strong sales, higher profits

    Tue, Apr 25 2023

    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.