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GM will stop reporting monthly U.S. vehicle sales

DETROIT — General Motors said on Tuesday it will stop reporting monthly U.S. 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 U.S. Federal Reserve, industry associations and government agencies across the globe, but that data is not made public. Analysts and investors rely on monthly U.S. 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 U.S. economy overall. GM and its Detroit rivals Ford and Fiat Chrysler have relied heavily on sales of high-margin pickup truck and SUV sales to boost profits. GM's total U.S. 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 U.S. 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, U.S. vice president for sales operations said in a statement. GM's actions could prompt other automakers to also switch to quarterly U.S. sales reports. Major automakers will report March U.S. new vehicle sales on Tuesday. Until the early 1990s, most U.S. automakers released sales results every 10 days. The former Chrysler Corp. stopped reporting sales on a 10-day basis in 1990, and rivals followed suit over the next three years. GM executives are betting that investors will quickly adapt to receiving U.S. sales data every three months, as investors in other retail sectors already have. Retailers such as Walmart report sales on a quarterly basis. Reporting by Joe WhiteRelated Video: Image Credit: Reuters Earnings/Financials Green Buick Cadillac Chevrolet GM GMC US

2024 Buick Encore GX First Drive: Fresh from cosmetic surgery

About a year ago, Buick showed us its stunning Wildcat EV concept. While that sporty coupe might never see the end of a production line, it signaled a new direction for the brand’s design. For 2024, Buick gave its most popular model in North America, the Encore GX small SUV, a fairly substantial visual refresh. While it doesnÂ’t get the WildcatÂ’s electric powertrain, the refreshed ute is the first in the lineup to borrow its design cues. It also finally gets the Avenir trim, the epitome of style and luxury previously applied to other Buick models, along with some tech upgrades. So while weÂ’re still not able to get behind the wheel of an electric Buick, the Â’24 Encore GX Avenir AWD landing in our driveway gave us the chance to see what a nip and a tuck can do to elevate this baby Buick crossover. This new face is easy on the eyes, looking more modern and athletic than the previous version. Gone is the somewhat frumpy and bulbous old fascia. Now, we get a sharp nose emblazoned with an all-new logo — the encore GX is the first production car to sport this fresh take on the Buick shields. Below that is the new grille in all its unbroken mesh glory, surrounded by shiny chrome in this Avenir trim. A pair of swoopy winged LED headlights reside just below the elegantly creased hood. From the side, the Avenir gets big, 19-inch aluminum wheels in a Pearl Nickel finish, with that new logo in the center. It also gets body-color fenders as opposed to the black on some of the other trims. In back, we see the new logo repeated prominently again, with the LED taillights looking almost as if theyÂ’re pointing it out. Below that is the brand name spelled out large. At the bottom is what looks like a black diffuser, but we canÂ’t imagine it does much but make the car look sporty. Inside, the big news is the new dual-display “virtual cockpit”, with two screens under a single sheet of glass. On the right side is the 11-inch infotainment touchscreen, on the left is an 8-inch digital instrument cluster. We like the layout of the infotainment home screen, which is easy to use and configurable. Certain information in the infotainment can be sent to the driverÂ’s display — if you want to keep close tabs on your battery voltage, for instance. Prefer the familiarity of your phone? Wireless Apple CarPlay and Android Auto are standard across trim levels. Praise be.

GM posts $4 billion third-quarter profit thanks to trucks and SUVs

DETROIT — General Motors is posting huge third quarter numbers, pulling in $4 billion in profit over three months after losing money due to the virus outbreak. GM's adjusted earnings were $2.83 per share, easily outpacing Wall Street's per-share projections of $1.43, according to a survey by FactSet. Revenue of $35.5 billion also edged out most expectations. Shares jumped almost 6% before the opening bell Thursday. The company swung back from a $806 million loss in the second quarter, when it was restarting factories shuttered for safety during the early stages of the pandemic. The Detroit automaker joined most global automakers in reporting better-than-expected earnings from July through September as sales across the globe started to rebound from coronavirus lockdowns, especially in China. GM sales in China jumped 12% in the third quarter, with sales of its Buick and Cadillac brands both rising more than 25%. In the U.S., GMÂ’s most profitable market, sales fell 9.9% in the third quarter compared with a year ago, but were a dramatic improvement over the 34% drop in the second quarter. Sales improved sequentially each month, the automaker said, an encouraging trend. GMÂ’s profit was boosted by higher-priced pickup trucks and large SUVs, which have seen strong sales in the U.S. through the pandemic. It was the best quarter on record for GM's Chevrolet Blazer. Sales of the Cadillac XT6 spiked 45% in the U.S. over last year. Large pickups also sold well. GM also said it was pumping $2 billion into its Spring Hill, Tennessee manufacturing plant to push its transition to produce electric vehicles. Last week, crosstown rivals Fiat Chrysler and Ford reported strong third-quarter net income. FCA said it made $1.4 billion for the period, while Ford earned $2.39 billion. Related Video: Earnings/Financials Buick Cadillac Chevrolet GM GMC