Talk Soon? GM Hangs Up on Monthly Conference Calls
For automotive analysts and journalists, every month begins with ritual conference calls with spokespeople from GM (NYSE:GM), Ford (NYSE:F), and Toyota (NYSE:TM), among others. It’s a time to dig deeper into U.S. sales stats automakers publish. However, GM closed its first conference call of 2014 by saying it will be its last. The automaker said it will tone down its focus on the “minutiae” of a single market in order to approach company goals in a more “holistic way,” Bloomberg reports.
The first conference call with industry analysts and media of 2014 ended with the announcement by GM spokesperson Jim Cain. While reassuring participants that GM marketing reps would continue to be available following the monthly release of sales stats, Cain said the automaker was planning to focus its energies on broader strategies that emphasized the company’s long-term view.
While the move is surprising, given Ford and other leading automakers will maintain the practice of the monthly sales call, The Chrysler Group (FIATY.PK) and Honda (NYSE:HMC) don’t provide the same service to analysts and reporters. The move by GM prompted several theories as to the change in 2014.