Top Automotive Midday Stories January 3, 2019 - US Sales, GM Sales Fall, Pickup Wars, New GM Prez,
U.S. auto sales may have enjoyed a surprising, albeit slight uptick in 2018, according to analyst forecasts. With automakers set to report their full-year and December sales on Thursday, the estimates show how the industry likely outperformed expectations despite concerns about a cooling global economy and rising interest rates.
Source: USA TODAY
General Motors Co. on Thursday reported that U.S. new vehicle sales fell 2.7 percent in the fourth quarter, with declines across most of its brands as American auto sales appear set to weaken in 2019. Sales were down at the automaker’s Chevrolet, Cadillac and Buick brands.
A tightening sales race in the lucrative full-size pickup segment had General Motors Co. and Fiat Chrysler Automobiles NV spending on hefty incentives to close out a banner year for trucks and SUVs in the U.S. auto market. Discounts on GM’s Chevrolet Silverado and Fiat Chrysler’s Ram trucks probably helped the industrywide selling rate reach 17.3 million, the average analysts’ estimate in a Bloomberg News survey.
General Motors named long-time insider Mark Reuss as its president, effective immediately. Reuss formerly led GM’s global product group and Cadillac. His duties will now include overseeing GM’s quality organization.
Education has always been the key to opportunity in America, rightly called “the great equalizer.” But the sociologist Herbert Spencer once noted “how often misused words generate misleading thoughts.” By placing descriptors like “vocational” and “technical” in front of the word “education,” we generate misleading thoughts about the types of people who enroll in such programs.
Source: The Wall Street Journal