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TEHRAN, April 03 -General Motors Co (GM.N) 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.
TEHRAN, Young Journalists Club (YJC)-General Motors Co (GM.N) 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 Motor Co (F.N) and Fiat Chrysler Automobiles NV (FCHA.MI) 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.
Source:Reuters
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