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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.

The best Super Bowl car commercials from the last 5 years

If you've been dipping into the Autoblog feed over the past days and weeks, you wouldn't even have to be a sports fan to know the Super Bowl is coming up. Automakers have been teasing their spots for the big game, dropping them days early, fully-formed onto the Internet and otherwise trying to amp up the multi-million-dollar outlays that they've made for air time on the biggest advertising day of the year. And, we're into it. The lead up to the Super Bowl is almost akin to a mini auto show around these parts; with automakers being amongst the most prolific advertisers on these special Sundays. The crop of ads from 2015 looks as strong as ever, but we thought we'd take a quick look back at some of our favorite spots from the last five years. Take a look at our picks – created from a very informal polling of Autoblog editors and presented in no particular order – and then tell us about your recent faves, in Comments. Chrysler, Imported From Detroit Chrysler, Eminem and a lingering pan shot of "The Fist" – it doesn't get much more Motown than 2011's Imported From Detroit. With the weight of our staffers hailing from in and around The D, it's no wonder that our memories still favor this epic Super Bowl commercial (even though the car it was shilling was crap). Imported really set the tone for later Chrysler ads, too, repeated the formula: celebrity endorsement + dramatic copy + dash of jingoism = pulled car-guy heartstrings. Mercedes-Benz, Soul teaser with Kate Upton One of our favorite Super Bowl commercials (and yours, based on the insane number of views you logged) didn't even technically air during the game. Mercedes-Benz teased its eventual spot Soul with 90-seconds worth of Kate Upton threatening to do her best Joy Harmon impression. (Teaser indeed.) It doesn't win points for cleverness, use of music, acting, or any compelling carness, but it proved that Mercedes' advertisers knew how to make a splash in the Internet Age. And, hey, it's still classier than every GoDaddy commercial. Kia, A Dream Car. For Real Life Like the Mercedes video above, the initial draw here is a pretty lady; in this case the always stunning Adriana Lima. But this Kia commercial really delivers the extra effort we expect while scarfing crabby snacks and homemades, too. First of all, Motley Crue. Second, a cowboy on a bucking rhino. Enjoy yet again.

Michael Jordan's cars showcased in 'The Last Dance' documentary

After the masses begged and pleaded for an early release, ESPN finally unlocked the doors to the biggest production in company history last month. Episodes 1 and 2 of The Last Dance, a 10-part documentary special about Michael Jordan, the Chicago Bulls, and the 1997-1998 season, was released at last on April 19, 2020. Each week since, two new episodes have aired on Sunday nights, and the next two, episodes 7 and 8 are scheduled to drop this weekend on May 10. With unprecedented video access to MJ, who became averse to the media during his playing days, a byproduct from The Last Dance is a look at some of Jordan's cars. The Goat's taste ranges across a number of brands, but they all had one thing in common: performance as a top priority. Below, we have listed the rides that have already appeared in the series, and each week, we will update with new car cameos. Chevrolet Corvette C4 The photo above somewhat epitomizes one of the themes of The Last Dance. Everybody, whether that was men, women, children, franchise owners, reporters, coaches, teammates, or opponents, wanted a piece of Jordan. If that meant stopping in the middle of the road to get an autograph, then so be it. Around town, MJ was fairly easy to spot due to his flashy cars that occasionally wore Bulls red. Jordan has driven numerous Corvettes throughout the years, but the C4 is unique in that it was Chevy's top ride when Jordan signed an endorsement deal with the American company during his rookie year in 1984. Two famous photos, one in front of the Chicago skyline, show him standing next to a C4 with the license plate "Jump 23." This exact car, however, came later, as indicated by the squared-off taillights. He went on to star in a number of Chevrolet commercials with vehicles such as the Blazer and S-10 pickup truck. Chevrolet Corvette C5 The most notable Corvette His Airness ever owned was likely the C4 40th Anniversary ZR-1, but he also drove a C5 coupe at one point. Roughly nine minutes into the first episode, Jordan is seen driving the chrome-wheeled targa top into the parking lot at the Berto Center, the Bulls old practice facility.   Ferrari 550 Maranello Roughly three minutes into episode four, viewers get a glimpse of Jordan's exotic taste in the form of a red Ferrari 550 Maranello.