General Motors Co. GM, -1.60% is abandoning its decades-old practice of reporting monthly auto sales, saying a 30-day period doesn’t provide an adequate snapshot of the company’s complex business or the broader industry.
The move by the nation’s top auto seller will likely disrupt the industry’s collective attempt to give analysts, economists and investors a broad view of one of America’s bedrock businesses and a consistent bellwether for consumer behavior.
Quarterly reports “will make it easier to see how the business is performing.”
With the exception of Tesla Inc. TSLA, -5.13% and a few other exotic or niche auto makers, every car company discloses detailed monthly sales figures.
“Thirty days is not enough time to separate real sales trends from short-term fluctuations in a very dynamic, highly competitive market,” GM sales-operations chief Kurt McNeil said in a statement. GM said it would continue to disclose that data at the end of each quarter, much like Tesla does.
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