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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

Both Android Auto and Apple CarPlay slated for Chevrolet lineup

Long awaited, the race among automakers to keep drivers connected to their smartphones has officially entered a new era. Hyundai said Tuesday it would be the first manufacturer to put Google's Android Auto into a production car, the 2015 Hyundai Sonata sedan. Not to be outdone, General Motors said today it'd offer both Android Auto and Apple's CarPlay on several Chevrolet models set to hit dealerships this summer. By giving car buyers the choice between these rival phone-projection systems, Chevrolet hopes to quell concerns from prospective customers worried about the compatibility of their smartphones and vehicles. "It's about providing choice," said Alicia Boler-Davis, GM's senior vice president for global connected car consumer experience. "No two customers are alike, and we cannot expect a single solution that works for every driver in every situation." Across the industry, automakers are rushing to add both to their cars as a growing base of customers seek an array of connected features. Estimates from automotive technology research firm SBD indicate smartphone-integrated content is available in 36 percent of current vehicles, and the company expects that penetration rate will grow to 84 percent by 2025. For Chevrolet, the systems will be available on select 2016 iterations of the Cruze, Camaro, Volt, Spark and Malibu as early as next month, and appear on 14 Chevy models overall for the 2016 model year. They're available on all trim levels, but they only work with the company's MyLink infotainment package installed in the cars, and the first to hit showrooms will only work on the seven-inch touchscreen models. "CarPlay and Android Auto, these are things that are addressable to the broad market, and I think it makes a lot of sense for GM to put it into Chevys first," IHS Automotive senior analyst Mark Boyadjis said. Via physical connections, both Apple CarPlay and Android Auto allow users access to smartphone features like turn-by-turn directions, phone calls, voice-to-text messages and music streaming. Interfaces are similar to the ones found on the respective smartphones, but on the dashboard, they're redesigned for a simpler, in-car experience. Fonts are larger, for example, and easier to press on a touchscreen. CarPlay relies heavily on Siri so that drivers spend more time staring at the road instead of their touchscreen. That sounds good, at least in theory.

GM earnings rise 1% as buyers pay more for popular pickups

DETROIT — General Motors said Thursday that higher prices for popular pickup trucks and SUVs helped overcome slowing global sales and profit rose by 1% in the second quarter. The Detroit automaker said it made $2.42 billion, or $1.66 per share, from April through June. Adjusting for restructuring costs, GM made $1.64 per share, blowing by analyst estimates of $1.44. Quarterly revenue fell 2% to $36.06 billion, but still beat estimates. Analysts polled by FactSet expected $35.97 billion. Global sales fell 6% to 1.94 million vehicles led by declines in North America and Asia Pacific, Middle East and Africa. The company says sales in China were weak, and it expects that to continue through the year. In the United States, customers paid an average of $41,461 for a GM vehicle during the quarter, an increase of 2.2%, as buyers went for loaded-out pickups and SUVs, according to the Edmunds.com auto pricing site. The U.S. is GM's most profitable market. Chief Financial Officer Dhivya Suryadevara said she expects the strong pricing to continue, especially as GM rolls out a diesel pickup and new heavy-duty trucks in the second half of the year. "We think the fundamentals do remain strong, especially in the truck market," she said, adding that strength in the overall economy and aging trucks now on the road should help keep the trend going. Light trucks accounted for 83.1% of GM's sales in the quarter, and pickup truck sales rose 8.5% as GM transitioned to new models of the Chevrolet Silverado and GMC Sierra, according to Edmunds, which provides content to The Associated Press. As usual, GM made most of its money in North America, reporting $3 billion in pretax earnings. International operations including China broke even, while the company spent $300 million on its GM Cruise automated vehicle unit. Its financial arm made $500 million in pretax income. Suryadevara said GM saw $700 million in savings during the quarter from restructuring actions announced late last year that included cutting about 8,000 white-collar workers through layoffs, buyouts and early retirements. The company also announced plans to close five North American factories, shedding another 6,000 jobs. About 3,000 factory workers in the U.S. whose jobs were eliminated at four plants will be placed at other factories, but they could have to relocate. GM expects the restructuring to generate $2 billion to $2.5 billion in annual cost savings by the end of this year.