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GM to stop reporting monthly US vehicle sales

GM will also no longer report monthly sales in China, its largest market, and Brazil. GM will provide monthly data to the US Federal Reserve, industry associations and government agencies across the globe but that data is not made public.


Reuters United States
Updated: 03-04-2018 10:22 IST
GM to stop reporting monthly US vehicle sales

GM will also no longer report monthly sales in China, its largest market, and Brazil. GM will provide monthly data to the US Federal Reserve, industry associations and government agencies across the globe but that data is not made public.(Image Credit: Reuters)

General Motors Co said on Tuesday it will stop reporting monthly US vehicle sales, saying the 30-day snapshot does not accurately reflect the market and will instead issue quarterly sales.

GM will also no longer report monthly sales in China, its largest market, and Brazil. GM will provide monthly data to the US Federal Reserve, industry associations and government agencies across the globe but that data is not made public.

Analysts and investors rely on monthly US vehicle sales not just to track the performance of individual automakers, but as a barometer of the health of the world's second-largest auto market and as an indicator of consumer confidence in the US economy overall.

GM and its Detroit rivals Ford Motor Co and Fiat Chrysler Automobiles NV have relied heavily on sales of high-margin pickup truck and SUV sales to boost profits. GM's total US sales, its second-largest market, are down 3.2 percent for the first two months of 2018, reflecting a 6.8 percent drop in retail sales to individual customers, the company reported last month.

GM executives have expressed frustration that comparisons of monthly US sales results among rival automakers are distorted by short-term discount programs, and by differences in strategy for selling vehicles in bulk to rental car fleets.

"Thirty days is not enough time to separate real sales trends from short-term fluctuations in a very dynamic, highly competitive market," Kurt McNeil, US vice president for sales operations said in a statement.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

COUNTRY : United States

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