1997 Hummer H1 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.

Electric Cadillac Lyriq, Chevy Bolt EUV and more GM electric cars are on the way

GM’s murky and somewhat secretive electric car plan is falling into place, as the company dumped a massive amount of information about whatÂ’s in the pipeline at an event at its Warren, Michigan campus today. New EVs are going to be popping up across the GM brand lineup, with new entries from Chevrolet, Cadillac, GMC and Buick in progress. We also learned some big news about GMÂ’s new Ultium battery tech today, but check out this story for all of those nitty-gritty details. The electric vehicle onslaught will begin with the Cadillac Lyriq, an electric SUV thatÂ’s already been teased out. Naming it the Lyriq is the news today. No explanation for the name was provided, so weÂ’ll have to wait for April to learn more. GM didnÂ’t specifically say if the Lyriq would be launched at the NY Auto Show, but that show (assuming coronavirus doesnÂ’t cancel it) will begin on April 8 this year. Next up in the order of events is the GMC Hummer electric truck that we know will be launching on May 20. This truck will use GMÂ’s modular Ultium battery technology. However, the wait to buy a GMC Hummer will be a long one, as the truck isnÂ’t going to dive into production until fall 2021 at GMÂ’s Detroit-Hamtramck plant. GM revealed that its new modular Ultium batteries can be configured anywhere from a 50 kWh pack to a 200 kWh pack depending on the application. Range is estimated to be about 400 miles on the upper end with the largest battery pack, and GM continues to boast about a 0-60 mph acceleration time of three seconds. Charging estimates for the Ultium battery-equipped Hummer EV were also provided. GM says its truck platform will have 800-volt battery packs and be capable of 350 kW fast-charging. Time estimates werenÂ’t given, but those numbers suggest the truck will be a rapid charger. The Hummer truck on hand, which was the same that previously starred in GMC's Super Bowl spot, showed off removable roof panels that store in the frunk, as well as what appeared to be a version of GMC's Multi-Pro tailgate. It also featured sail panels on the sides, similar to those in front of the bed of the Chevy Avalanche. In addition to the Hummer, expect to see a couple Chevys launching. GM says the refreshed Bolt EV will be launched “in late 2020” with a refreshed interior and what appear to be thicker front seats.

Mil-Spec 003 First Drive Review | The ultimate Hummer H1

We're in something of a golden age for automotive restomodding, and into a heady mix that includes Singer's reimagined 911s, Icon's fancy off-roaders, and lots of updated Land Rovers. The latest company with ambitions to become a top-tier custom car brand is Mil-Spec, which aims to do what the aforementioned companies do, but with the big, brash, blunt Hummer H1. And in particular, the company is aiming to make its Hummers a compelling alternative to a used Hummer H1 Alpha. The Alpha is generally considered to be the best of the breed with the most powerful diesel engine offered, larger brakes, and a nicer interior compared with its predecessors. To find out whether the company's early efforts live up to that ambition, Mil-Spec invited us to drive their third completed vehicle, Mil-Spec 003. It started life as a 1995 Hummer H1, and as with all of Mil-Spec's vehicles, it was completely disassembled, and the body and frame media-blasted down to metal. The frame and related components are then powder-coated with a black gloss finish. The truck's aluminum body, in this case a four-door hardtop pickup variant, but is coated in a resilient bedliner-like material designed for easy care. Bits of Kevlar are mixed in with the material for strength, and it can be tinted different colors and have rougher or finer textures. Underneath the body, one of the five different engines that were available on the H1, usually a diesel V8, is replaced with a 6.6-liter Duramax LBZ turbodiesel V8. This engine was available on heavy duty Chevy and GMC pickup trucks, and a related engine was used in the Hummer H1 Alpha. Whereas the engine in the H1 Alpha made 300 horsepower and 520 pound-feet of torque mated to a 5-speed automatic, the Mil-Spec's LBZ has had turbo upgrades and a different ECU tune allowing it to produce 500 horsepower and 1,000 pound-feet of torque. It's also coupled to an Allison 1000 6-speed automatic transmission. The mechanical upgrades don't stop with the engine and transmission. The inboard brakes are given drilled and vented discs, and an ARB Air Locker locking rear differential fitted. Dual auxiliary transmission coolers also make an appearance and can be switched on as needed. The 003 received 20-inch wheels with 38-inch mud terrain tires, but larger tires can be added if desired.