1954 Buick Roadmaster - Lots Of Original Parts Still On Vehicle on 2040-cars

Auto blog

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

It's official: GM selling Opel-Vauxhall to Peugeot-Citroen group for $2.3B

It's a Brexit for General Motors. GM is selling off its Opel and Vauxhall unit, it confirmed today, ending 90 years of automobile production in Europe, and nearly two decades of losses from that division. The deal was announced on the eve of the Geneva Motor Show. The focus for GM now becomes North America and China. "This was a difficult decision for General Motors," CEO Mary Barra said. "But we are unified in our belief that it is the right one." "For GM, this represents another major step in the ongoing work that is driving our improved performance and accelerating our momentum. We are reshaping our company and delivering consistent, record results for our owners through disciplined capital allocation to our higher-return investments in our core automotive business and in new technologies that are enabling us to lead the future of personal mobility." The buyer is French automaker PSA Groupe, maker of Peugeot and Citroen as well as its DS luxury sub-brand. The $2.3 billion deal will make PSA the second-biggest European manufacturer after Volkswagen, with 17 percent of the market share. "We want to create a European automotive champion," said PSA Groupe Chairman Carlos Tavares. "We will totally unleash the potential of the Opel and Vauxhall brands." Tavares gave assurances that jobs would not be lost in the deal. "We respect all that Opel/Vauxhall's talented people have achieved as well as the company's fine brands and strong heritage. We intend to manage PSA and Opel/Vauxhall capitalizing on their respective brand identities." The two companies have agreements for PSA to continue to supply some Holden and Buick models; it's not yet clear exactly how this will work, as Opel models form the basis for several of Buick's core products, including the Encore small crossover and Regal sedan. PSA also is purchasing GM's financing operations in Europe as part of the deal. GM may invest in PSA shares in the future, and the two companies may collaborate on electric and fuel-cell vehicles as part of GM's joint venture with Honda. The sale of Opel and Vauxhall brings GM's global brand total down to eight, including three that are specific to the Chinese market. Buick GM Citroen Opel Peugeot Vauxhall 2017 Geneva Motor Show

GM announces six new recalls, covering 3.5 million vehicles

General Motors has just initiated another crushingly large recall, this time affecting some 3.36 million vehicles built between 2000 and 2014 and sold in the US, Canada and Mexico. Once again, the issue surrounds the cars' ignition switches, which can be kicked out of the run position if they're carrying extra weight or if they experience a "jarring" event. In this particular case, though, GM will modify the keys, rather than the ignition itself.
A four-by-six-millimeter hole will be drilled into the key, which will more safely accommodate the weight of the key ring. As is usually the case, the work will be done free of charge. The recalled vehicles include the 2000 to 2005 Cadillac Deville, 2004 to 2005 Buick Regal LS and GS, 2004 to 2011 Cadillac DTS, 2005 to 2009 Buick Lacrosse, 2006 to 2008 Chevrolet Monte Carlo, 2006 to 2011 Buick Lucerne and 2006 to 2014 Chevrolet Impala. Only the Impala is still in production, and even then, it's only sold to fleet companies.
According to an official statement from GM, there have been eight crashes and six injuries due to this latest issue. As if this isn't a dire enough blow for GM, the company has announced five smaller recalls, covering 165,000 vehicles.