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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

Don Draper's 1965 Cadillac Coupe de Ville up for auction

Few have ever nor ever will embody the sheer confidence and style of Don Draper, the main character on the hit AMC drama Mad Men. But if you can't quite match his style, at least you can drive his car. Now that the series has now concluded its eight-year run, the studio behind it is selling off a whole mess of artifacts from the show through ScreenBid, a specialist Hollywood memorabilia auctioneer. There's a good 1,300 lots up for grabs, from props to costumes. But the lot that's caught our attention is this 1965 Cadillac Coupe de Ville. Don picked this car up in the fifth season and drove it until the penultimate episode. These are the wheels he (spoiler alert!) drove across the country, got repaired in Oklahoma, and ultimately gave to a kid working at the motel before making his way by bus to the Bonneville Salt Flats in the final episode. At the time of writing, bidding had reached $25,000 with four days still to go. Cadillac first used the de Ville as a trim level on the Series 62 before spinning it off into its own model line. 1965 was the first year of the third-generation de Ville, stretching a massive 224 inches (over 18 and a half feet!) long. Powering over 4,600 pounds of personal American luxury was an equally massive 7.0-liter V8 that drove 340 horsepower through a three-speed automatic transmission. The name wasn't retired until 2005 when the final DeVille (as it was styled by then) was replaced by the DTS, which itself was shorthand for DeVille Touring Sedan. Cadillac produced the last DTS in 2011, finally putting to rest a name that had, in one form or another, been used since 1949. Few cars had the kind of presence that the third-gen Coupe de Ville did, though, and Draper knew it. Or at least the show's producers did.

GM, UAW poaching Nissan workers in Tennessee

General Motors and the United Auto Workers are going on a recruitment drive at the Spring Hill factory in Tennessee, and they're hoping to poach some skilled workers from Nissan's nearby plant in Smyrna, TN. The General and the union even bought a billboard advertising for industrial electricians near the Japanese automaker's facility, according to the Daily News Journal. The reason for the billboard was simple. "GM was short of electricians," said Tim Stannard, the president of the UAW local at Spring Hill, to the Daily News Journal. The factory currently builds the Chevrolet Equinox but has a contract to assemble the next generation of Ecotec engines and the Cadillac XT5, which replaces the SRX. Thanks to the $185-million deal, employment there is expected to double by May 2016, according to Stannard, with roughly 1,800 additional union jobs. Beyond just several billboards, GM has job postings online for the Spring Hill plant looking for workers with specific skills. There has already been some interest in the positions among Nissan employees, Stannard indicated. According to a recent study by the Center for Automotive Research, the average GM worker currently makes $58 an hour, including benefits. Comparatively, Nissan pays an average of $42 an hour with benefits. The General's number could change in the coming weeks because its contract with the UAW is about to expire, and higher wages are among the major negotiating points.