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GM doubles miles open to its Super Cruise technology

DETROIT — General Motors said on Wednesday owners of certain vehicles equipped with its Super Cruise assisted driving system will now be able to use it on 400,000 miles (643,740 km) of North American roads, doubling the current operating area as Tesla and other automakers race to deploy hands-free cruising technology. GM's Super Cruise system, like Tesla's Autopilot system, is a driver assistance system, and does not enable true autonomous driving. Spurred by Tesla's aggressive deployment of Autopilot, and Tesla Chief Executive Elon Musk's promises of a more advanced "Full Self Driving" system, GM, Ford, Volkswagen and Mercedes-Benz are racing to deploy competing partial automation technology in major markets. At the same time, safety regulators are showing concern that drivers do not understand that Autopilot and similar systems are not designed to take over driving in every circumstance. The GM system's sensors and software allow a motorist to cruise with hands off the wheel on highways that have been mapped in detail. But the driver is expected to stay alert and ready to take over the car. GM uses technology to monitor the driver, and Super Cruise will sound alarms or slow the car to a stop if it detects that a driver is not responding. Starting later this year, GM plans to enable vehicles equipped with Super Cruise and the company's latest vehicle electronic system to operate hands-free on major, undivided highways in the United States and Canada, as well as additional miles of divided, interstate highways. Currently, Super Cruise operates only on interstate, divided highways. The expansion, enabled by wider digital mapping, will allow owners of properly equipped GM vehicles to cruise hands-free on stretches of Route 66 and the Pacific Coast Highway in the U.S. West or the Trans-Canada highway in Western Canada, GM said. Many of the new roads GM has mapped are in rural, heartland states where GM pickup trucks are popular. GM plans to offer Super Cruise as an option on its Chevrolet Silverado and GMC Sierra large pickups later this year. GM has said previously it intends to offer Super Cruise as an option on 22 models by the end of 2023. Depending on the model, Super Cruise costs $2,200 to $2,500 to add as an option. (Reporting by Joe White in Detroit; Editing by Matthew Lewis) Related video: Cadillac Chevrolet GM GMC Technology Super Cruise

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.

C7 Corvette won't spawn new Cadillac XLR [w/video]

Between the new 2014 Chevy Corvette Stingray and the even newer Cadillac Elmiraj Concept shown off at Pebble Beach, we were already expecting some sort of chatter of a Cadillac XLR redux. During an in-depth C7 Corvette discussion with Tadge Juechter, the car's chief engineer, Fox News asked if a Corvette-based, Bowling Green-built Cadillac will be built off the C7. Non-spoiler alert: the answer is no.
Juechter says that General Motors has "no intent" on transforming this car into a Cadillac product since the C7 has been optimized for the Corvette buyer, a consumer that's generally a different sort of person than a Cadillac intender who might also be cross-shopping a Mercedes-Benz SL-Class or BMW 6 Series.
While we're not ready to write off a future XLR altogether, we assume that the Corvette Cadillac experiment is most likely never going to happen again. The interview with Juechter is posted below, but the XLR discussion comes in at the 9:00 mark.