General Motors Company (NYSE:GM) will no longer be releasing monthly sales reports.
The automotive company made the announcement during its monthly sales report for March. According to the company, it will be switching over to releasing quarterly sales reports in the future.
This change will start on July 3 with its second-quarter sales report. The company will then release its third-quarter sales report on October 2 and its fourth-quarter sales report on January 2 of next year.
“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 of Sales Operations for GM, said in a
statement. “Reporting sales quarterly better aligns with our business, and the quality of information will make it easier to see how the business is performing.”
GM says that switching to quarterly sales reports will allow it to provide data that isn’t strongly affected by a variety of factors. This includes “product launch activity, weather, other seasonal factors, the number of selling days and incentive activity.”
GM finishes off its march sales report by saying that this change won’t affect its level of transparency for total brand and nameplate sales, fleet mix and inventory. It will also continue to report J.D. Power PIN estimates for incentive spending and average transaction prices.
GM is one of the world’s largest automotive companies. This change may cause others in the industry to follow suit and drop monthly sales reports in favor of quarterly ones. However, well have to wait and see how other automakers react.
GM stock was up 2% as of noon Tuesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
