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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.

Common Dodge Ram 1500 vs. Chevrolet Silverado breakdowns

These two trucks are famous for their ability to get the job done. Still, even the toughest vehicle can have mechanical problems at some time. What if we match the Dodge Ram 1500 and Chevrolet Silverado head to head? Let's find out more about common repairs for each model. Also, learn some tricks to pay for car repairs. Clunky Steering Both Dodge and the Chevy owners sometimes notice bumping and clunking when steering. This might be more noticeable when driving over bumps. The cause is usually different in each truck though. In the Dodge Ram, clunky steering is more likely due to a defective lower ball joint. Replacement costs around $300 - $400, parts and labor. Clunky Chevy Silverado steering is probably a steering rack failure. This problem appears more often in trucks with over 90,000 miles. Silverado steering rack repair will run you up to $1,000 or more. Starting Woes For the Chevy Silverado with over 130,000 miles, you might notice trouble starting. This problem may appear occasionally at first, but it typically gets worse. Excluding a weak battery, the culprit is usually the starter. Replacement will cost you around $330 - $500. Of the total cost, $90 is for labor only. Now the Dodge Ram might make a ticking sound when starting, especially on models with over 94,500 miles. The noise often disappears after the engine warms up. These symptoms may indicate a broken exhaust manifold. Repair costs range from $800 - $900. Burning Oil & Gas Gauge On The Blink Sometimes, the Dodge Ram burns oil much faster than normal. In models with over 125,000 miles, this often points towards a leaky intake manifold gasket. A knocking sound may also appear with acceleration along with possible engine misfire. The cost to repair is around $200 - $300. The Chevy Silverado has its own surprises, especially when you've filled the gas tank but the gauge still reads low. Or the needle fluctuates widely from low to full while driving. In trucks with over 120,000 miles, it's likely due to a faulty fuel sensor. You might need a full fuel pump replacement, which can cost you up to $820, parts and labor. Water Inside And Poor Heat The Ram 1500 rear window has been known to leak. You might notice the back seat and floor wet after a rainstorm. This is more common in trucks with over 65,000 miles. Resealing the Ram 1500 rear window costs around $150 - $250.

2014 Corvette Stingray meets Tesla Model S in drag strip showdown

They come from two different worlds and have little in common. The Tesla Model S P85 is the sportiest version of this paradigm-punching sedan from California, while the 2014 Corvette Stingray Z51 is a performance-enhanced version of Michigan's recently-updated sports car stalwart. The West Coast car seats five adults and eats electrons like Popeye eats spinach, the Easterner has two passenger places and, surprisingly, sips gasoline like one might bourbon. An attribute they do happen to share is extreme quickness. This similarity is all the excuse Drag Times needed to set the vehicles beside each other at the Palm Beach International Raceway for a bit of mano-a-mano quarter-mile combat. Fortunately enough, cameras were rolling for each of two bouts down the blacktop and the results recorded for our edification and enlightenment. The winner? We won't spoil it for you, but let's just say it's really, really close. How close? Scroll below and watch the video for yourself. Just be warned, the results may surprise you. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.