2024 Gmc Terrain Denali on 2040-cars

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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.

2023 GMC Sierra HD MSRP up at least $1,000

Once Chevrolet bumped up the 2023 Silverado and Silverado HD MSRPs by $1,000, there was no reason to think luxury cousin GMC wouldn't do the same. The proof is here, pricing for the 2023 GMC Sierra HD up on its configurator with premiums of at least $1,000 over 2022 models. As we mentioned of the Silverado, the Sierras have also tracked with the price increases we mentioned in reference to the Chevrolets; the 2022 Sierra 1500 has run up $4,700 over its cost last October, the 2022 Sierra HD is $4,100 more than it was when it hit lots last summer. That puts a 2023 Sierra HD 2500 Regular Cab long bed with two-wheel drive and the 6.6-liter V8 gas engine at a starting price of $42,995 after the $1,795 destination charge, $1,000 beyond the 2022 pickup. At the top, a Crew Cab long bed Denali with four-wheel drive and the 6.6-liter Duramax V8 starts at $83,845, which is $1,250 more than the same rig from the 2022 model year. Moving up a weight class to the Sierra 3500, the price of entry starts $1,000 more than before at $44,195. The big bad boy 3500 Denali 4WD dually starts $1,200 more than before, at $86,245. The situation's a bit cloudier when we step down two classes to the 1500. GM Authority got the price sheet for the 2023 Sierra 1500 and reports that prices are up $1,000 on most trims, but $900 up on the Denali Ultimate and $1,900 up on the AT4. GMC hasn't uploaded the configurator for the 2023 trucks yet, and GMA's price sheet is hard to parse against prices on the 2022 configurator because the end of the model year and supply chain issues have translated into mandatory discounts that can't be accounted for. For instance, the 2022 Sierra 1500 Regular Cab standard box in entry-level Pro trim has an MSRP of $40,000, yet the configurator shows the total vehicle and options price as $39,950. After the $1,795 destination charge, that comes to $41,745. Then there's a mandatory package discount of $1,500, taking the final price before any other fees to $40,245. Meanwhile, GMA's paperwork shows the 2023 price starting at $40,020 after destination, which isn't $1,000 more than any figure on the configurator. At the top end, the 2022 Denali with the Crew Cab, standard box, 4WD, and 6.2-liter V8 comes out to $71,695, only because the front and rear park assist and steering column lock aren't fitted, resulting in a $100 discount.

GM announces 6 recalls covering nearly 720k cars

General Motors has announced yet another sprawling recall campaign, with six separate elements covering 717,950 vehicles on US roads. At this point in 2014, it's starting to seem like there are more days with a GM recall than without. Perhaps most troubling about this latest volley, though, is that every vehicle is from the past few years, indicating that GM's quality woes may not be limited to pre-bankruptcy vehicles.
The largest element of this latest campaign covers 414,333 units, and includes the 2011 to 2012 Chevrolet Camaro, 2010 to 2012 Chevy Equinox, GMC Terrain and Cadillac SRX and the 2011 to 2012 Buick Regal and LaCrosse. Only vehicles with powered, height-adjustable seats are covered. In these particular cars and crossovers, the bolt that secures the height adjuster actuator may loosen of its own accord and in some cases fall out completely. If this happens, the seats will be able to move both up and down. GM claims the vehicles are safe to drive, provided drivers don't vertically adjust their seats. This particular issue has caused one crash and three injuries.
The largest element of this latest campaign covers 414,333 units, including the Chevrolet Camaro and Equinox, GMC Terrain, Cadillac SRX and the Buick Regal and LaCrosse.