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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.

GMC Acadia goes big again? Spy photos show next-gen prototype

GMC is testing what looks a lot like a new full-size SUV, signaling the likelihood that it will return to full-size segment after the current generation has run its course. GM downsized the Acadia for the 2017 redesign, carving nearly 10 inches off its length and 3 inches from its girth. For the next generation, it appears that script will be aggressively flipped.  The hierarchy of GM's unibody family SUVs was already a bit wonky before the Acadia's 2017 redesign, and continues to be now. While it would be logical for the Chevrolet Traverse, GMC Acadia, Buick Enclave and Cadillac XT6 — all three-row crossovers — to be different skins on the same fundamental chassis, that's not actually the case. The Acadia is a full foot shorter than either the Traverse or Enclave, with the XT6 falling in between. Based on these photos, that will no longer be the case when the new GMC Acadia debuts. Since the current one went on sale in 2016 as a 2017 model, it's about due for a replacement.  We can't see much beyond basic proportions here, but those tell a clear story. It's pretty obvious that the hood on the prototype is wider and sits higher than on the current car, with perhaps less slope to the now-wider nose. We can also see the faintest impressions of creasing on the flanks, likely leading to the same broad, angular hip treatment present on the current car. Viewed side-by-side, we can see a little more front and rear overhang. There's no obvious hint of substantially longer wheelbase here (the rear doors line up almost perfectly), so we're probably looking at something that is wider but not necessarily much longer.  In any event, we shouldn't have to wait too long to find out exactly what GM has in store for its "Pro" brand.  Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

GMC Sierra spied with ZR2-style off-road modifications

A few months ago, the 2022 Chevy Silverado ZR2 was revealed with a bunch of off-road goodies to help it achieve a little more parity with trucks like the Ford F-150 Raptor and Ram 1500 TRX. But GM has another full-size truck, the GMC Sierra, and it would seem silly to us if the company didn't share those parts. Based on these spy photos, it seems GM agrees. Though thoroughly camouflaged, we can tell this truck is a GMC Sierra thanks to the sheetmetal on the doors and the distinct shape of the wheel arches. Under the wrappings, we can see that this Sierra features a very different front bumper to the current king of Sierra off-road models, the AT4X. The bottom edge is much higher for better clearance, particularly on the sides in front of the wheels. This is the same type of change applied to the Silverado ZR2's front end. It does appear to be missing the ZR2's skid plate, though we suspect that's a temporarily missing component on this prototype. One other off-road upgrade this Sierra features is a pair of rock rails to protect the rocker panels on the cab. What we can't see are the shocks installed on this truck. If this is a GMC version of the ZR2, it should have the spool-valve shocks from Multimatic. They're some of our favorite suspension components on any vehicle. Other components it should have are locking front and rear differentials, 33-inch tires and a standard 6.2-liter V8. Since the Silverado ZR2 is already revealed and ready for production, we would expect to see the GMC version soon. A good bet would be for a reveal in time for the 2023 model year. As for a name, it's hard to say, since we've already had AT4 and AT4X. It could be named something completely separate from the AT4 line. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.