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NHTSA, IIHS, and 20 automakers to make auto braking standard by 2022

The National Highway Traffic Safety Administration, the Insurance Institute for Highway Safety and virtually every automaker in the US domestic market have announced a pact to make automatic emergency braking standard by 2022. Here's the full rundown of companies involved: BMW, Fiat Chrysler Automobiles, Ford, General Motors, Honda, Hyundai, Jaguar Land Rover, Kia, Mazda, Mercedes-Benz, Mitsubishi, Nissan, Subaru, Tesla, Toyota, Volkswagen, and Volvo (not to mention the brands that fall under each automaker's respective umbrella). Like we reported yesterday, AEB will be as ubiquitous in the future as traction and stability control are today. But the thing to note here is that this is not a governmental mandate. It's truly an agreement between automakers and the government, a fact that NHTSA claims will lead to widespread adoption three years sooner than a formal rule. That fact in itself should prevent up to 28,000 crashes and 12,000 injuries. The agreement will come into effect in two waves. For the majority of vehicles on the road – those with gross vehicle weights below 8,500 pounds – AEB will need to be standard equipment by September 1, 2022. Vehicles between 8,501 and 10,000 pounds will have an extra three years to offer AEB. "It's an exciting time for vehicle safety. By proactively making emergency braking systems standard equipment on their vehicles, these 20 automakers will help prevent thousands of crashes and save lives," said Secretary of Transportation Anthony Foxx said in an official statement. "It's a win for safety and a win for consumers." Read on for the official press release from NHTSA. Related Video: U.S. DOT and IIHS announce historic commitment of 20 automakers to make automatic emergency braking standard on new vehicles McLEAN, Va. – The U.S. Department of Transportation's National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety announced today a historic commitment by 20 automakers representing more than 99 percent of the U.S. auto market to make automatic emergency braking a standard feature on virtually all new cars no later than NHTSA's 2022 reporting year, which begins Sept 1, 2022. Automakers making the commitment are Audi, BMW, FCA US LLC, Ford, General Motors, Honda, Hyundai, Jaguar Land Rover, Kia, Maserati, Mazda, Mercedes-Benz, Mitsubishi Motors, Nissan, Porsche, Subaru, Tesla Motors Inc., Toyota, Volkswagen and Volvo Car USA.

Best Convertibles for 2022

The past decade has not been kind to the drop-top enthusiast. No matter which dealer you walk into, convertible models have been biting the dust left and right. Nissan Z? Audi TT? Buick Cascada? Volkswagen Eos? All gone. Remember the humble Chrysler Sebring/200? Well, you do now. Fortunately, though, the news isn't all bad. There are still plenty of options out there for those who absolutely must have a convertible. Whether you need something to haul behind your retirement cruiser, a performance car that can go toe-to-toe with the best in the world or just something that allows you to sling the roof back after a long day of on-location business meetings before catching the flight back to your everyday hustle and bustle, there's at least one cabriolet out there to suit your needs. Here are our picks and starting prices for the top convertibles in several categories for 2022.  For the frugal open-top lover: 2022 Mini Convertible ($34,650) Let's face it; gas ain't cheap. But open-top motoring doesn't need to be a wallet killer. The Mini is cheap (at least by 2022 standards) and an absolute joy to drive, so there's really no downside here ... except for the roof. Get it?    For the hardtop lover: 2022 Mazda MX-5 RF ($37,260) / 2022 Chevrolet Corvette Convertible ($69,695) The number of hardtop convertibles has seriously dwindled due to weight concerns and the fact that fabric roofs have gotten so quiet, but there are still some options for those who prefer a more coupe-like look with the roof up. Our picks here are the delightfully Targa-like MX-5 Miata RF and literally any Corvette Stingray — even the hardtop has a removable roof!    For long road trips: 2022 Ford Mustang Convertible ($34,100) The first image that comes to mind for many who are told to visualize an American convertible is the classic Ford Mustang. It's not the only drop-top pony car out there, but thanks to the Camaro's tiny trunk, it's much harder to see the USA in a Chevrolet when a drop-top enters the equation. The Mustang has much more cargo space and a much larger opening, which is likely the difference between keeping your bags under lock and key or leaving them exposed in the back seat.    For towing behind an RV: 2022 Jeep Wrangler ($31,590) While many small runabouts make sense for towing behind a motor home (or nestled up inside a fancier one), the Wrangler has a serious advantage when it comes to RVing: it can easily be flat-towed.

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.