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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

Buick Cascada convertible likely dead after 2019

Opel announced it was discontinuing a few cars today, but the one that got our attention was the Cascada. The plan is to let the Opel Cascada live out its life until the end of 2019, with no replacement in the works. This brings into question the future of the Buick Cascada sold in the United States, since it's basically the same car and produced by Opel in the same factory in Poland. The Cascada has been on sale in other markets since 2012 badged as either an Opel or Vauxhall, but the Buick-badged car was only introduced in North America for the 2016 model year. Of course, Buick could decide to build the model beyond 2019, but it would need to find a new manufacturing location, convertibles aren't exactly popular, and the car would be egregiously old at that point. In other words, it looks like the Cascada is dead after 2019. We asked Buick what the game plan might be, and were told that there is nothing official to say at the moment. That's par for the course for something a manufacturer doesn't want to talk about yet, but it's also possible the announcement came as a surprise. Opel is no longer owned by GM, so the announcement actually came from the brand's new PSA ownership (the same French company that owns Peugeot and Citroen). As for the rationale behind the decision, that was a head scratcher, too. Opel/PSA said it was discontinuing the Cascada, as well as the subcompact Adam and Karl, in order to meet increasingly stringent emissions requirements and produce crossovers instead. This seems contradictory. Replacing a low-selling convertible and a pair of low-profit subcompacts with high-selling, high-profit crossovers sure seems like a solid business decision more than an emissions requirement one. Indeed, the Buick Cascada has never been a raging success in the United States either, with only 5,595 leaving the lots in 2017. It helped bring in some different kinds of customers to the Buick brand, but the impact is minute compared to a vehicle like the hot-selling Buick Encore. Related video: Featured Gallery 2019 Buick Cascada View 17 Photos Rumormill Buick Opel Convertible buick cascada

Despite strong profits, GM still fighting flat market share

Looking at the progress General Motors has made since it entered bankruptcy, it's easy to forget that the company still has a long way to go before it's the juggernaut it once was. A recent report from Reuters points out that, while GM is making money, it isn't making any gains in terms of US market share. Quite the opposite, really. Consider this factoid: In 1963, nearly half of the cars sold in the United States were from Chevrolet, Cadillac, Buick, GMC or Pontiac. Now, the company's US market share is stagnant at 17.9 percent. That same number is half of just Chevy's 1963 market share. This is all despite GM going on a binge replacing or updating its models. "Market share increases are not instantaneous," Mark Reuss told Reuters at the 2014 Detroit Auto Show. "We've got a lot of baggage. Don't underestimate what people though of us, or these brands, through these hardships and 30 years." The reasons for the stagnant market share are numerous. Reuters points out that retooling of factories and a focus on limiting incentives are both good things for profit, but not necessarily for market share. There's also the troubling turnover of the brand's marketing department. These issues don't change the fact that Chevrolet has lost 1.4 percent of its market share in two years, and that Cadillac - arguably GM's most improved brand overall - has lost 1.2 percent in the same period. Part of that can be blamed on GM's avoidance of fleet sales in favor of more profitable customer sales. "Our focus has really been on retail and that's where we've got the growth," said Alan Batey, GM's interim global marketing boss. "We want to grow GM and that means growing market share and profits, but it's not at all costs," Reuss said. News Source: ReutersImage Credit: paul bica - Flickr CC 2.0 Earnings/Financials Buick Cadillac GM GMC sales profits