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GM will stop reporting monthly U.S. vehicle sales
Tue, Apr 3 2018DETROIT — 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
Cadillac tipped to call flagship something other than LTS
Sun, 21 Sep 2014Cadillac wouldn't be Cadillac without large sedans in its lineup, and while the XTS has had to hold down that end of the fort all on its own, it won't have to for too long. That's because the luxury brand in the General Motors portfolio is preparing to roll out its new LTS, stylistically previewed by the Elmiraj concept pictured above. Only now, the latest thinking is that the upcoming flagship model may not be called LTS at all.
As Automotive News points out, Cadillac's naming scheme is all over the place at the moment. The ATS slotting below the CTS makes sense (alphabetically), but where do the ELR, SRX and especially the Escalade fit into that naming hierarchy? And how would LTS - as the project has been known until now - sit above the XTS?
Fortunately, Cadillac may be on the case, as two of the division's most recent senior appointments seem keen to rationalize the naming scheme. One is Uwe Ellinghaus, who joined Cadillac as chief marketing officer late last year. Speaking of the brand's nomenclature last spring, Ellinghaus was quoted as saying, "We are aware that this is currently a weakness of the Cadillac brand." And his new boss is bound to agree.
GM recalls full-size truck, SUVs and vans over faulty shifter mechanism
Mon, 07 Jan 2013Twelve different General Motors vehicles from the 2013 model year, up to 54,686 units in total, are being recalled over two potential issues with their steering columns. The models in question, all full-size trucks, SUVs or vans, are the: Cadillac Escalade, Escalade ESV, Escalade EXT, Chevrolet Avalanche, Express, Silverado, Suburban, Tahoe, and GMC Savana, Sierra, Yukon and Yukon XL.
The affected vehicles were built with a fractured parking lock cable or "a malformed steering column lock actuator gear in the lock module assembly." As a consequence, they could shift out of park without the brake pedal being applied or with the key removed or in the off position.
A bulletin from the National Highway Traffic Safety Administration indicates that the recall should begin on January 17. GM will notify owners, at which time they can take their vehicles to their dealers for repair free of charge. Have a look at the bulletin below for more information.