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New recall issued in 2019 Chevy Silverado and GMC Sierra brake software saga

General Motors (GM) has issued a new recall for select 2019 Chevy Silverado 1500 and GMC Sierra 1500 pickup trucks that aims to resolve a faulty fix for a previous recall. According to National Highway Traffic Safety Administration (NHTSA) campaign No. 20V055000, a software update for the Electronic Brake Control Module (EBCM) could cause the electronic brake assist to be disabled.  The NHTSA first launched a recall for 463,995 Silverados, Sierras, and Cadillac CT6es on December 12, 2019 due to a software issue in the electronic brake control module (EBCM) that could disable the electronic stability control (ESC) and anti-lock braking system (ABS). As a response and resolution to that recall, GM began to reprogram the software in affected vehicles. GM later learned that the fix was creating a different problem. The installed software had its own error that was disabling the electronic brake assist. If customers see “Service Brake Assist” or “Service ECS" diagnostic warnings, they should park the vehicle and have it towed to a dealership, GM warns. While GM was going through the process of testing, pinpointing the issue, determining action and working with the NHTSA, safety experts have criticized Chevrolet and GMC for not reacting promptly and appropriately.  According to the recall, 148,055 are now affected, all of which do not meet the standards of Federal Motor Vehicle Safety Standard (FMVSS) number 126, "Electronic Stability Control" and 135, "Light Vehicle Brake Systems." To fix the braking issue, GM will once again reprogram the software. GM began notifying owners of the recall on February 10, 2020. Related Video:

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.

GM's latest production delays: Colorado/Canyon, Cadillac CT4/CT5, Camaro

DETROIT — General Motors Co extended production cuts in North America on Wednesday due to a worldwide semiconductor chip shortage that has impacted the auto sector. The U.S. automaker said its Wentzville, Missouri, assembly plant would be idled during the weeks beginning March 29 and April 5. It will extend down time at its plant in Lansing, Michigan, which has been idled since March 15, by two weeks. The action was factored into GM's prior forecast that it could shave up to $2 billion off this year's profit, spokesman David Barnas said. GM did not disclose how much volume would be lost by the move, but said it intended to make up as much lost production as possible later in the year. The chip shortage came as North American auto plants were shut for two months during the COVID-19 pandemic last year and chip orders were canceled, and as demand surged from the consumer electronics industry as people worked from home and played video games. That's now left carmakers competing for chips. Semiconductors are used extensively in cars, including to monitor engine performance, manage functions for everything from steering to automatic windows, and in sensors used in parking and entertainment systems. Vehicles affected by the GM production cuts include the mid-sized pickup trucks, the Chevrolet Colorado and GMC Canyon in Missouri, and the Cadillac CT4 and CT5 and Chevy Camaro cars in Michigan. Meanwhile, GM said its San Luis Potosi, Mexico, assembly plant, idled since Feb. 8, will resume production with two shifts beginning the week of April 5. Last week, GM said it was building certain 2021 light-duty full-size pickups without a fuel management module, hurting their fuel economy performance by one mile per gallon. Exacerbating the shortage is a recent fire at a Renesas Electronics chip plant in Japan. Barnas said GM was assessing the impact of the fire.