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GM will stop reporting monthly U.S. vehicle sales
Tue, Apr 3 2018DETROIT — 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
2019 GMC Sierra Denali and its nifty tailgate roll into dealers
Wed, Aug 22 2018We've got more details about the 2019 GMC Sierra Denali now that it's rolling into dealerships, starting with its floor price of $56,195, including destination fee, for the rear-wheel-drive models. That's a jump of $1,900 over the previous generation of its premium full-size pickup. Four-wheel-drive models start at $60,295. The crew-cab truck has grown in every dimension as well, adding about 4 inches to the wheelbase, nearly 2 inches in length and 1.2 inches in width. There's also nearly 3 inches more rear legroom. Bed options are 5-foot-8 or 6-foot-6. There are three engine options. Two are carryovers from 2018: a 5.3-liter V8 that sends 355 horsepower and 383 pound-feet of torque through an eight-speed automatic transmission, and an available 6.2-liter V8 that makes 420 hp and 460 lb-ft of torque and mated to a 10-speed automatic. Both come with GM's dynamic fuel management cylinder-deactivation technology to optimize power and fuel efficiency. A new 3.0-liter turbodiesel paired with a 10-speed automatic is expected in early 2019. The EPA hasn't yet released official fuel economy ratings, but GM estimates them at 17 miles per gallon in the city and 23 mpg on the highway for the two-wheel-drive versions, and 15/21 in four-wheel drive. The truck gets adaptive ride control which can adjust the dampers every 2 milliseconds based on real-time monitoring of the road and driver inputs for improved ride and handling. A new traction select system adjusts the transmission shift points, throttle mapping and StabiliTrak to tailor performance to different terrain or weather conditions. Inside the crew cab, there's new Forge leather-appointed seats, open-pore wood trim and dark finished aluminum decor, plus an 8-inch-diagonal HD color touchscreen with embedded navigation and Apple CarPlay and Android Auto compatibility. Most of the other new stuff we've covered before, including new C-shaped LED headlights and LED tail and fog lamps, optional 22-inch wheels, full-color head-up display, trailer-hitch assist apps and cameras, and rear-camera mirror. The truck also loses up to 360 pounds from the outgoing model via a scratch- and dent-resistant carbon-fiber bed box that replaces steel, and use of aluminum in the doors, hood and tailgate.
Mystery man buys fast food worker a new car
Tue, Apr 28 2015A mystery man bought a Tennessee fast food worker a new car. 34-year-old Jeff Smith told WKRN he was approached by an older stranger as he was exiting a grocery store. The two struck up a conversation about Smith's 1991 Geo Storm. The vehicle is falling apart; it has more than 350,000 miles on it, a cracked dashboard, no drivers side window, and a door that is literally being held closed by a small hook. The stranger asked Smith to follow him down the road to James Motors, but then asked the fast food worker to wait outside. Smith told WKRN, "He comes back out and says, 'How do you like that blue pickup?' I said. 'It looks great.' Then he said, 'Well, I bought it and it's yours now.' [...] It's just a blessing. It's the best thing that has ever happened to me." At first, Smith didn't believe this was even real. But the owner of James Motors showed up at the fast food restaurant where he works with the keys and title to the 2001 navy blue GMC Sonoma. The mysterious benefactor didn't want to be identified, but asked smith to do something nice for someone else in the future. Weird Car News GMC geo