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GM recalls 740,000 vehicles over daytime running light issue

General Motors is recalling over 740,000 vehicles due to a daytime running light issue that causes all of the affected cars to run afoul of Federal Motor Vehicle Safety Standards. Vehicles affected by this recall are spread across many of GM’s brands. Models include the 2020-2023 Cadillac CT4 and CT5, 2021-2023 Buick Envision, 2022-2023 Cadillac Escalade and Escalade ESV, 2022-2023 Chevrolet Silverado 1500, Suburban, Tahoe and 2022-2023 GMC Sierra 1500, Yukon, and Yukon XL. GM says that the daytime running lights may remain on in these cars when the headlights are activated. This is a problem, because FMVSS rules require that the daytime running lights deactivate once the headlights turn on. If the DRLs remain on, GM says that could result in additional glare, thereby increasing the risk of an accident. The cause of this failure to deactivate the DRLs comes from body control module software that “under a combination of certain pre-conditions, could fail to deactivate the DRLs,” according to GM. Other GM vehicles were tested, but due to a difference in software or hardware, they remain unaffected. If this is reminding you of another recent GM recall, youÂ’d be right, as GM recalled another 340,000 vehicles for the same issue last month. After that original issue was found within GM, the company began looking into its other cars to determine if the population was larger than originally thought. GM found the additional vehicles included in todayÂ’s recall have the problem. The fix will either be via an over-the-air update or it will require you to bring the vehicle into a dealer for a software update, depending on which vehicle you have. Owner notification letters letting folks know what is necessary are currently scheduled to go out on January 23, 2023. Related video: Cadillac Escalade Infotainment Review

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.

The GMC Hummer EV could spawn a smaller electric truck

Over 90,000 motorists have reserved a GMC Hummer EV, and the truck's relative popularity has convinced executives to consider launching a smaller and presumably more affordable model. While nothing is official yet, the Hummer EV's smaller sibling could be a midsize pickup. Citing "people familiar with the matter," Automotive News reported a smaller Hummer EV exists in the design studio that General Motors operates in California. There's no word on what it looks like yet, though it presumably borrows at least some of the rugged-looking styling cues that characterize the controversial, 9,200-pound truck. Interestingly, the smaller model could bring the Hummer name to Europe. It's too early to provide technical specifications. The model hasn't received the proverbial green light for production but Automotive News added that it's a "priority project" and that it has "a good chance of going into production." If and when it does, it's reasonable to assume the truck will use the Ultium battery technology found under the full-size Hummer EV, among other electric models from General Motors. GMC hasn't commented on the report, and it hasn't announced plans to launch a second Hummer-branded electric pickup. If the report is accurate, the baby Hummer is at least a couple of years away from hitting showrooms. First, the Hummer EV SUV will enter production. We've been here before: a downward expansion is exactly how the now-defunct Hummer brand was born. The military-bred H1 spawned the H2 for 2002 and the H3 for 2006. An even smaller off-roader previewed by the 2008 HX concept was planned but ultimately canned. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.