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In move sure to disappoint industry analysts and journalists alike (us included), General Motors will no longer hold monthly calls regarding their sales in the United States.
According to GM spokesman Jim Cain, ending the monthly U.S. sales call would allow his employer to focus on “conferences and other forums that allow us to discuss our [global] strategy and our results with a long-term view and in a very holistic way,” as well as how each of their individual markets fit into the strategy without getting lost in the details. This move puts them in line with their friends in Auburn Hills, who also opt out of such calls; Ford and Toyota will continue to pick up the phone.
Cain did assure analysts and journalists that GM would still issue their monthly sales notes, however; December’s U.S. deliveries fell 6.3 percent from 2012, while its shares closed at $39.57, falling 3.4 percent in the largest decline since August 27 of last year. Meanwhile, 38 percent of the automaker’s sales originate outside of North America, with China being their largest market by sales volume.
It’s obvious that US/NA sales become less important to GM over time. It’s kind of a strange feeling that US automakers are no longer focused on tastes and desires of the NA market. Now, when trying to see the direction automakers might take the answer is becoming, “What do they like in China?”
I would think that in this case, the calls are a waste of time from GM’s perspective. The time devoted to prepping for and hosting the call can be used for other things, and the monthly sales figures can be reported via a press release. The quarterly earnings calls should be good enough.
Analyst questions often involved inventory, transaction prices and rebates. I doubt we’ll see much of that in the press releases.
I doubt that GM much cares about providing monthly entertainment for the analysts. The quarterly calls are pretty much obligatory, though, so three-month intervals will have to suffice.
No doubt. But those calls cover more territory, so they probably won’t have time for the kind of info that was squeezed out of GM on the S&P calls.
GM may have inventory problems.
GM “ended the year, however, on a low note, seeing declines in all four divisions (Buick, Cadillac, Chevrolet and GMC) in the last month of the year, not a great sign considering the high inventory levels GM has been maintaining in recent months, levels unseen since before the Great Recession.”
http://www.ibtimes.com/here-are-december-2013-big-eight-us-auto-sales-numbers-gm-ford-chrysler-toyota-honda-nissan-1525492
also:
According to KBB, GM lead the way in Dec. with incentives, with Ford at #2 and showing the greatest increase of any manufacturer. Chrysler was #3.
They all sell quite a few full size trucks which have large incentives. Of course they have a higher average incentive.
True, but Toyota and Acura also posted declines in December. Seems like a very good November didn`t carryover. As always YTD is more useful then just month to month. I also note that many other companies including Honda don`t do monthly calls. The figures will be released,. that is what matters.
I find the annual sales numbers to be the most useful. It takes into account all the variables that can affect buyer behavior.
Well, this is not ideal. But I hope we can still get sales data each month.
That is kind of a “post facto” way of determining what happens, but better than nothing.
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with all their hyperbole and double speak combined with borderline nefarious excuses, eliminating these useless conferences does everyone justice.
I had to listen to these calls for years. Buickman is 100% correct. It was always mutually embarrassing to listen to their rationalizations.
That second paragraph reeks of PowerPoint speak. Must find antidote syringe now!
On the one hand, this seems like a strange and unnecessary move. But it’s in keeping with other GM moves over the last few years. The amount of info they give out in quarterly earnings presentations has gone way down, too. What makes it bizarre is that Ford has gone in the other direction… and who has gotten better press coverage over the last couple of years?