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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.

Chevy Bolt wins 2017 Green Car of the Year

We knew that a plug-in vehicle was going to win the 2017 Green Car of the Year award this year, given that all five finalists have a way to charge up. And when Ron Cogan, the editor and publisher of Green Car Journal, announced the winner – the 2017 Chevy Bolt EV – he said that the car itself represents one of those times in the auto industry when everything is about to change. Similar to the invention of the starter motor, things are about to get different. For now, though, the fact that the Bolt EV won an award sounds like the same old thing all over again. Just this week, it was named Motor Trends Car of the Year and to the Car And Driver Top 10 list. The other four finalists for Green Car of the Year included the Toyota Prius Prime, the Chrysler Pacifica, the Kia Optima (including hybrid and plug-in hybrid models) and the BMW 330e iPerformance. Last year, the winner was the 2016 Chevy Volt. Did Green Car Journal make the right selection this year? See the award ceremony below.

2016 Chevrolet Camaro starts at $26,695

Parking the new 2016 Chevrolet Camaro in your driveway will cost $26,695, including the $995 destination charge. That's a cut from $27,000 for the same trim on a 2015 Camaro. If you prefer a V8 under the hood, then the base 1SS goes for $37,295, compared to $34,500 for that model currently. The 2016 Camaro is offered as a coupe and convertible in four trim levels: 1LT, 2LT, 1SS, and 2SS. The LT is available with a 2.0-liter turbocharged four-cylinder with 275 horsepower and 295 pound-feet of torque or a 3.6-liter V6 with 335 hp and 284 lb-ft. The SS gets a 6.2-liter V8 with 455 hp and 455 lb-ft. The first examples arrive before the end of the year, but droptops and the turbo engine don't materialize until the first quarter of 2016. Base models come with tech like Chevy's MyLink infotainment system with Apple CarPlay, a rearview camera, automatic climate control, and multiple driving modes. The RS Package adds to the style with 20-inch wheels, HID headlights, LED taillights, a different grille insert, and rear spoiler. Opting for the SS brings a more aggressive exterior look, plus performance upgrades like Brembo brakes, differential and transmission coolers, and a limited slip differential on those with a manual gearbox. Upgrading to the 2SS adds amenities like heated and ventilated front seats, wireless phone charging, a Bose stereo, rear cross-traffic alert, and Side Blind Zone Alert with Lane Change Alert. Options like a Magnetic Ride Control suspension and dual-mode exhaust offer additional sportiness. Reading about the 2016 Camaro is nice, but Chevy now has a visualizer for the pony car. It's not quite a full configurator but lets you check out different colors, wheels, and stripes to imagine your future purchase. Enjoy finding just the right combo. Related Video: CHEVY REVEALS PRICE, ONLINE VISUALIZER FOR 2016 CAMARO 21/08/15 Gen Six Camaro offers more performance, technology and customization choices DETROIT – As production of the lighter, more powerful, more advanced 2016 Camaro grows near, Chevrolet revealed more details to help customers tailor their Gen Six exactly how they want it, including pricing information and an online visualizer. The 2016 Camaro offers higher levels of performance, technology and refinement, starting at a suggested retail price of $26,695 for the Camaro 1LT, while the most powerful Camaro SS ever starts at $37,295 for the 1SS.