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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

Nissan Leaf has 2nd-best sales month ever, Chevy Volt does a 2013 repeat [UPDATE]

UPDATE: The official press release says that "Volt [sales were] up 7 percent," but Randy Fox let AutoblogGreen know that this is simply due to a change in the fleet/retail mix between March 2013 and 2014. The actual number sold was exactly the same in the two months. A month ago, Nissan's director of EV sales and marketing, Toby Perry, said he expected to see the Leaf's sales momentum continue into March. It wasn't a big leap, since January and February were slow sales months in 2013 (around 640 each) before a big climb to 2,200 in March. In 2014, the first two months of the year were better (around 1,300 each) but Nissan can still be happy that the Leaf just had the best March ever and its second-highest sales month ever, with 2,507 sold. That's a 12.1 percent increase from 2013 and Perry said in a statement to AutoblogGreen that one reason is all of the buyers who are becoming evangelists for the vehicle. "We've also seen an increase in showroom traffic as we enhanced our marketing presence in March," he said. Nissan pointed to cities like Washington, DC, Raleigh-Durham, NC and urban areas in Texas as strong Leaf markets last month. On the Chevy Volt front, January and February were also slow months in 2014, down roughly half from the 2,000-ish the plug-in hybrid was selling at the end of 2013. For 2014, sales were up slightly from the first two months of the year and Chevy spokesman Randy Fox told AutoblogGreen that the March number was "pretty flat, year-over-year." Even with that warning, we were surprised to see the total come in at 1,478. Why's that? Because the total for March 2013 was ... 1,478. So, yeah, that's pretty steady even if there were 26 selling days in March period this year compared to 27 last year. As always, our more complete report of last month's green car sales will be coming soon. News Source: General Motors, Nissan Green Chevrolet GM Nissan Electric Hybrid PHEV ev sales

GM to restore legendary Corvette damaged in sinkhole accident

Car lover's hearts' sank when they saw images of bent and destroyed classic Corvettes at the bottom of a sinkhole last February after the floor of the National Corvette Museum gave way. General Motors announced Wednesday it would restore the one millionth Corvette ever produced to its former glory. The 1992 convertible was heavily damaged when a 40-foot deep sinkhole opened beneath a bevy of rare cars at the National Corvette Museum in Bowling Green, Kentucky. Since then, GM has been slowly restoring the classic cars, though five of the eight that caught in the sinkhole were determined to be too damaged to repair. This November, the 2009 Corvette ZR1 Blue Devil was the first car to be returned in mint condition to the Museum, according to Autoblog. It suffered significant damage but was still drivable after being pulled out of the debris. The one millionth Corvette is still in bad shape. The automaker is estimating six months worth of work to restore the car, which sustained paint scratches, rear-suspension damage and a mangled front fender. Related Gallery Consumer Reports Most Loved Cars 2014 Chevrolet GM Automotive History corvette famous cars sinkhole corvette museum