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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.

2019 GMC Sierra AT4 First Drive Review | Off-road overkill

The road ahead is dirt with a rut here and a rock there. Brush keeps a respectable distance on the right side, the edge on the left gradually falls away into the valley below. The grade is nothing your treadmill couldn't duplicate and traction is pretty good. Honestly, a couple in their Subaru Crosstrek could pop up here for a picnic. The 2019 GMC Sierra AT4 we're driving is therefore complete overkill. But at least it looks the part as it trudges up this uncharacteristically verdant mountain with San Diego in the distance to the north and Mexico to the south. Its special, dechromed AT4 grille has a purposeful appearance, but tastefully lacks the show-off machismo of Ford and Ram's off-roading models. The red tow hooks are a nice touch and the dark-accented 20-inch wheels wrapped in all-terrain rubber are just the right size beneath a suspension that is raised an extra 2 inches from every other Sierra. That would be one of the key elements that differentiates the AT4 as the Sierra's off-roading model – GMC's answer to the Chevy Silverado's Trail Boss trims. In fact, their mechanical enhancements are identical. Besides the 2-inch lift, the suspension features off-road-tuned Rancho monotube shocks. There's also a locking rear differential, a two-speed transfer case, skid plates and those tow hooks. The 5.3-liter V8 with Dynamic Fuel Management is similarly standard, but unlike the Silverado Trail Boss, the Sierra AT4 offers the 6.2-liter V8 good for 420 horsepower and 460 pound-feet of torque as a roughly $2,500 option. That's the engine we have and it delivers the expected punch, complete with a satisfyingly snarling exhaust note. However, as observed in back-to-back drives with these two available engines during the Silverado launch, the 6.2 certainly isn't necessary. The 5.3-liter is seriously capable and the bigger engine is largely for those who want to have the biggest number possible emblazoned on the fender. It's overkill, which in this particular environment, is fitting. Besides the available engine upgrade, the AT4 also goes beyond its Trail Boss counterpart by dipping into the Sierra Denali's tool box. Its MultiPro tailgate is standard equipment, allowing for six different configurations, the most notable of which include a means of more easily reaching into the bed and a drop-down step that eases entry into the bed. GMC's considerable touting of that last element is rife with hypocrisy given GM advertisements that mocked Ford's similar feature.

Diesel details: Comparing Ram 1500 EcoDiesel, Chevy Silverado Duramax, Ford F-150 Powerstroke

With specifications for the 2019 Ford F-150 Power Stroke diesel already out, and the details on the 2020 Ram 1500 EcoDiesel and Chevy Silverado Duramax (and its GMC Sierra twin) trickling out, we felt it was a good time to start comparing the full-size trucks' light-duty diesels. Bear in mind, we've only driven one of these new diesel trucks, so we'll be sticking to numbers for now. Some numbers haven't been announced yet, either, but stay tuned, because we'll be updating this post with additional specifications as they become available. And if you want to compare any other versions of these trucks with other vehicles, be sure to check out our comparison tool. Now let's start comparing, starting with our big chart of numbers below. As we can plainly see, these trucks are quite closely matched. Each one has six cylinders, a displacement of 3.0 liters and a turbocharger to boost it. The output of each is somewhat close, too. The Ram 1500 EcoDiesel is the torque king at 480 pound-feet, 20 more than the GM trucks and 40 more than the Ford. The GM trucks win on power, though, with 277 ponies, 17 more than the Ram, and 27 more than the Ford. GM does report that you get their trucks' peak 460 pound-feet of torque from 1,500 rpm to 3,000 rpm, whereas the others only report peak torque at a particular point in the rev band, but all of these trucks should have wide, flat torque curves as you would expect from modern turbodiesels. 2020 Ram 1500 EcoDiesel View 8 Photos Engine output is only one part of the truck performance equation. We also have towing and payload capacity, as well as fuel economy. With towing, the Ram 1500 is the current leader with a maximum capacity of 12,560 pounds. That tops the Ford F-150's 11,400-pound tow rating by well over 1,000 pounds. The F-150 can carry 2,020 pounds in its bed, but we don't know yet whether that's better or worse than the Ram or the GM trucks. We also don't have numbers for the GM trucks' towing capacities. View 9 Photos As for fuel economy, the Ford F-150 manages a thoroughly impressive 22 mpg in the city and 30 on the highway with two-wheel drive. Choosing four-wheel drive drops those numbers to 20 and 25 respectively. The fuel economy numbers for the Ram, Chevy and GMC haven't been revealed yet, but for some comparison, we can look at the old Ram EcoDiesel. That truck's best fuel economy was 20 in the city and 27 on the highway with two-wheel drive.