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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

Cadillac ELR production has stopped, Chevy Bolt coming in Oct.

It looks like General Motors' Cadillac ELR extended-range plug-in is out as the automaker prepares to go all in on the Chevrolet Bolt electric vehicle. The Caddy officially stopped production in February, Hybrid Cars says, citing Cadillac Product Communications Manager David Caldwell. There is still a "small quantity" of the coupe at dealerships, but this take on mashing up "luxury coupe" with "green vehicle" has about run its course. Caldwell and Johan de Nysschen, president of General Motors' Cadillac division, had already confirmed earlier this year that the ELR, which was first available as a 2014 model, wouldn't have any further generations, though weren't specific on when production would stop. The ELR uses an upgraded version of the first-generation Volt's powertrain to move the 4,000-pound beast, and while the Volt is now in its second generation (and this year's sales have more than doubled from a year earlier as a result), the ELR never received a similar upgrade. The ELR sold just 357 units through April. As a result, the ELR sold just 357 units through April, down almost nine percent from a year earlier. In all of last year, 1,024 ELRs were sold, compared to more than 15,000 units for the Chevy Volt, and that's after the ELR's price was cut by about $9,000 last April. The car also got about a 25-percent increase in power, but that didn't seem to do the trick when it came to boosting demand, even with the available $7,500 federal tax credit. Meanwhile, Hybrid Cars is reporting that the 2017 Bolt, which will feature a single-charge range of about 200 miles and is expected to retail for about $35,000, is likely to start production at GM's Orion Assembly Plant in October. While you wait, if you're already feeling nostalgic, check out our impressions of the ELR here. Related Video: Featured Gallery 2014 Cadillac ELR Review View 48 Photos News Source: Hybrid Cars Green Plants/Manufacturing Cadillac Coupe Hybrid Chevy Bolt cadillac elr elr extended-range plug-in bolt

GM promises to add 20 EVs and fuel-cell cars to lineup, paid for by SUVs

DETROIT — General Motors outlined plans on Monday to add 20 new battery electric and fuel-cell vehicles to its global product lineup by 2023, financed by robust profits from sales of gasoline-fueled trucks and sport utility vehicles in the United States and China. "General Motors believes in an all-electric future," GM global product development chief Mark Reuss said on Monday during a briefing at the company's suburban Detroit technical center. Future generations of GM electric vehicles "will be profitable," Reuss said, but added it was not clear when GM could make all its new vehicle offerings zero-emission electric cars. Regulators in China and some European countries have floated proposals to ban internal combustion engines by 2030 or 2040. "We will continue to make sure our internal combustion engines will get more and more efficient," Reuss said. GM shares were up more than 4 percent in midday New York trading on positive comments from Rod Lache, auto analyst at Deutsche Bank. Automakers, including electric vehicle market leader Tesla, lose money on electric cars because battery costs are still higher than comparable internal combustion engines. The company offered sneak peeks of three EV prototypes: a Buick SUV, a sporty Cadillac wagon and a futuristic pod car wearing a Bolt badge. GM funds its forays into new technology using a river of cash generated by old-technology vehicles popular with its core customer base in the United States heartland. In comparison, Tesla has burned through an estimated $10 billion in cash and has yet to show a full year profit. GM earned more than 90 percent of its $12.5 billion in pretax profits last year in North America, amid robust demand for its lineup of large sport utility vehicles and pickup trucks. The company's profitable operations in China rely on consumer demand for an expanding lineup of gasoline powered SUVs. GM has previously announced plans to make some of its future electric vehicles capable of driving themselves in robot taxi fleets. The company offered sneak peeks of three electric vehicle prototypes: a Buick brand sport utility vehicle, a sporty Cadillac wagon and a futuristic pod car wearing a Bolt badge. GM collaborated with Korean battery maker LG Chem to build the Bolt battery system. Company officials did not say what companies would supply batteries for the larger fleet of vehicles promised by 2023. Fuel-cell vehicles will also play a role in GM's future, the company said.