GM Halts Monthly Car Sales Reports (Except to the Fed)

Monthly car sales come out tomorrow. After tomorrow, GM will only report quarterly, except to the Fed.

GM claims monthly sales reports are inaccurate, so it will switch to quarterly reports.

General Motors Co. 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.

“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 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.

What's the Message?

  • The data is inaccurate, so let's give it to the Fed?
  • Only the Fed knows how to interpret inaccurate data?
  • We expect future sales to suck?

Mike "Mish" Shedlock

Comments (16)
No. 1-16
tedr01
tedr01

I suspect option three is the correct one.

Maximus_Minimus
Maximus_Minimus

What GM is saying is that the FED is the magician that can conjure up or make data disappear, they know about the inflation thing.

markb
markb

Editor

  • All of the above?
channelstuffing
channelstuffing

Can you say next bailout! Fed gettin ready to buy up all those vehicles sittin on dealers lots

Roger_Ramjet
Roger_Ramjet

So the Fed will be basing their policy decisions in part based on a "30-day snap shot that does not accurately reflect the market". Seems about par for the course. Hey its Masters week, I couldn't resist the pun.