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Buick Encore, Chevy Trax reportedly dead after 2022

The Buick Encore will not get an encore, and the Chevrolet Trax is dead in its tracks. Separate unverified reports say the two crossovers, which are essentially identical underneath the sheetmetal, will retire at the end of the 2022 model year without being directly replaced. Citing anonymous sources, enthusiast website GM Authority wrote that production of the Encore and the Trax is scheduled to end in the third quarter of 2022. Both models are manufactured in Bupyeong-gu, South Korea, and General Motors will reportedly use the extra production capacity to build more examples of the Trailblazer, which outsold the Encore and the Trax combined by a significant margin in 2021. General Motors hasn't commented on the report, but we wouldn't be surprised if the end is indeed near for the Encore and the Trax. Buick released the Encore for the 2013 model year, and Chevrolet launched the Trax for 2015, but the model made its debut as the Opel Mokka in 2012. It's at the end of its life cycle, and sales figures reflect this: 20,072 units of the Encore were sold in America in 2021, a drop of 52% compared to 2020, while 42,590 examples of the Trax found a home, a 60% decline. It's further proof that Americans don't like small cars. Viewed in that light, the decision not to replace either crossover makes perfect sense. If the report is accurate, the Encore GX (which is not related to the Encore in any way) will enter the 2023 model year as Buick's entry-level model. The situation is a little more complicated at Chevrolet: The pocket-sized Spark is on its way out in 2022 as well, meaning that the Trailblazer will become the entry point into the range. It's a different story in Europe: Opel, which is now part of the Stellantis group, released the second-generation Mokka in June 2020.

GM forced to cut truck production amid semiconductor shortage

WASHINGTON — General Motors said Wednesday it will cut some truck production in North America because of the ongoing global semiconductor shortage. The largest U.S. automaker said its Flint Assembly plant that builds the Chevrolet Silverado HD and GMC Sierra HD trucks will operate on one production shift the week of July 26. GM said its Ft. Wayne Assembly plant in Indiana that builds the Chevrolet Silverado 1500 and GMC Sierra 1500 model trucks will be idled next week. GM's Silao Assembly plant in Mexico that also builds the Chevrolet Silverado 1500, Cheyenne (for the Mexico market) and GMC Sierra 1500 will also suspend production next week. All three plants are expected to resume regular production the week of August 2. Related video:

Frustrated GM investors ask what more Mary Barra can do

DETROIT — General Motors Co Chief Executive Mary Barra has transformed the No. 1 U.S. automaker in her almost five years in charge, but that is still not enough to satisfy investors. Ahead of third-quarter results due on Oct. 31, GM shares are trading about 6 percent below the $33 per share price at which they launched in 2010 in a post-bankruptcy initial public offering. The Detroit carmaker's stock is down 22 percent since Barra took over in January 2014. After hitting an all-time high of $46.48 on Oct. 24, 2017, the shares have declined 33 percent. In the same period, the Standard & Poor's 500 index has climbed 7.8 percent. Several shareholders contacted by Reuters said GM could face a third major action by activist shareholders in less than four years if the share price does not improve. "I've been expecting it," said John Levin, chairman of Levin Capital Strategies. "It just seems a tempting morsel to somebody." Levin's firm owns more than seven million GM shares. Barra has guided the company through the settlement of a federal criminal probe of a mishandled safety recall, sold off money-losing European operations, and returned $25 billion to shareholders through dividends and stock buybacks from 2012 through 2017. GM declined to comment for this story, but the company's executives privately express frustration with the market's reluctance to see it as anything more than a manufacturer tied mainly to auto market sales cycles. GM's profitable North American truck and SUV business and its money-making China operations are valued at just $14 billion, excluding the value of GM's stake in its $14.6 billion Cruise automated vehicle business and its cash reserves from its $44 billion market capitalization. The recent slump in the Chinese market, GM's largest, and plateauing U.S. demand are ratcheting up the pressure. GM is one of the few global automakers without a founding family or a government to serve as a bulwark against corporate raiders. In 2015, a group led by investor Harry Wilson pressed GM to launch a $5 billion share buyback, and commit to what is now an $18 billion ceiling on the level of cash the company would hold. In 2017, GM fended off a call by hedge fund manager David Einhorn to split its common stock shares into two classes. Einhorn, whose firm still owned more than 21 million shares at the end of June, declined to comment about GM's stock price. Other investors said there were no clear alternatives to Barra's approach.