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Peter Max staring down $1M lawsuit over Corvette collection sale

Pop artist Peter Max recently sold off his collection of 36 vintage Chevrolet Corvettes – one each from 1953 to 1989 ­– for an undisclosed amount. The new owners have already announced plans to restore some of them and auction the models off sometime soon. Up until then, the sports cars had been languishing in various garages around New York City for decades and were caked in dust and grime. However, Max's end of the transaction has just become more complicated, because two men are suing the artist claiming he employed them to complete the deal first. The men allege that Max hired them to broker the sale of the 36 Corvettes in exchange for a 10-percent commission, according to the New York Post. They claim to have emails and text messages proving the existence of the deal, and are taking Max to court for $1 million over the squabble. The collection of Corvettes was amassed in 1989 as part of a prize package from the television network VH1, and Max bought the cars from the winner intending on using them for an art project. He never got around to it, though, and parked the sports cars around New York, until he finally sold them over the summer.

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

Train derailment leaves Jeep, GMC, Chevy pickups damaged in Nevada

An unfortunate train derailment is causing some inevitable delays for pickup truck customers west of Nevada. Yesterday morning, 33 train cars derailed in Lincoln County, and the cargo that was being transported consisted of new Jeep Gladiators and Wranglers along with Chevrolet Silverados and GMC Sierras, judging from the photos released by the Lincoln County Sheriff’s Office. The train derailment also caused the adjacent road to be closed, and local law enforcement recommends the area is to be avoided as long as it takes to clean it all up. In the photos, damaged Jeeps and other trucks sit either on their wheels or shiny-side-down as the incident is being assessed. Available information says there were thankfully no personal injuries, but itÂ’s not likely any of these trucks will end up in customer hands, even with a significant discount. Pre-registration transport damage, significant or not, has often resulted in scrapping complete vehicles so that manufacturers can steer clear of liability issues. Hooniverse.com, which also reported on the incident, notes a couple of interesting things. Firstly, the upended Gladiator seems to have a pretty sturdy support structure for its glasshouse, thanks to its new rollbars. Another matter is that the GM trucks, also pictured, wear discreet and temporary transport steel wheels instead of fancier items, perhaps to deter thieves eager to grab a shiny set from trucks on their way to the dealer. Still, itÂ’s a shame these vehicles could never fulfill their hauling purposes in the hands of new owners. Perhaps the manufacturers can at least use the damage for data-gathering purposes. Related Video: