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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.

Chevrolet Silverado, GMC Sierra could get independent rear suspension

The Chevrolet Silverado and the GMC Sierra could reportedly receive a variant of the four-link independent rear suspension found under the new Tahoe and Suburban. While that's not a surprise, a recent report suggests electrification, not comfort, convinced General Motors to make the change. Replacing the time-tested solid rear axle with an independent suspension will improve comfort, handling and off-road prowess, while adding weight, and likely making the trucks a little bit more expensive. It's a fair trade-off, but GM Authority learned the real reason for the swap is that at least one of the pickups will spawn an electric model, and it's more difficult to package a bulky battery pack around a solid rear axle. The independent rear suspension takes up far less space, even if it has more moving parts. General Motors will build its first regular-production electric pickup on an evolution of the Silverado's T1 platform named BT1, according to the same source. The b stands for -- you guessed it -- batteries. The firm reportedly doesn't want to make two suspensions for cost reasons, so the independent setup will come standard regardless of whether the truck runs on gasoline, diesel, or electricity. As a bonus, Chevrolet and GMC could choose to offer their T1-based trucks with Magnetic Ride Control or an air suspension, options available on the 2021 Suburban and Tahoe. The independent rear suspension will also find its way to the next-generation GMC Yukon due to be revealed January 14, and to the 2021 Cadillac Escalade scheduled to make its debut February 4. The long-rumored, born-again Hummer will get it, too, because it will arrive as an electric model built on the BT1 platform. It's worth noting none of this is official, and General Motors has remained quiet about what's next for its new suspension design, and what will be under its electric truck's sheet metal. If the GM Authority report is accurate, the Silverado (pictured) and the Sierra could ditch their solid rear axle for the 2021 model year. The change will likely be accompanied by other tweaks inside and out. Featured Gallery 2019 Chevrolet Silverado 1500 View 16 Photos Chevrolet GMC Truck

2016 Chevy Malibu exhaustively tested with four decades of data

Chevy is preparing to unveil its new Malibu sedan at the upcoming New York Auto Show next month. But when it does, it's not like it will have appeared overnight. The development of any new vehicle – especially one as widely produced by a major automaker as the Malibu – involves rigorous and relentlessly punishing tests. In the Malibu's case, that meant 1.5 million miles of driving from the scorching heat of Arizona in July to the frigid cold of northern Canada in January and everything in between. The Bowtie brand also says it incorporated four decades' worth of data taken from vehicles driving in locations around the world since 1972 in order to make the Malibu the best it could be. We'll have to wait to find out the results of all that exhaustive testing, but you can catch a sneak peek at the new sedan in the video above. Four Decades of Data Used to Test 2016 Chevrolet Malibu Recorded customer use drives durability testing for next-generation midsize sedan 2015-03-11 DETROIT – Data collected over decades from across the globe is helping ensure the 2016 Chevrolet Malibu can handle the world's worst roads even if the all-new midsize sedan never drives on them. Data collection boxes are placed in cars in real-world driving conditions around the world. Since 1972, these devices have accurately recorded the harshness and frequency of every jounce, bump and shudder inflicted on the car on roads in the U.S., Russia, Saudi Arabia and developing markets. "Although most Malibu owners will never put their car through similar abuse, we test all new vehicles in extreme climates, inclement weather and on punishing road surfaces," said Dan Devine, Malibu validation engineer. "The 2016 Malibu is definitely up to these challenges." Tests like these ensured the current generation Malibu was dependable and durable, two qualities that in turn helped Malibu stand out from its rivals in important quality surveys, such as J.D. Power's Initial Quality Study and Vehicle Dependability Study. General Motors engineers analyze the data to calculate the precise amount of damage potholes and other hazards create over 150,000 miles. Then the conditions are replicated at GM's Milford Proving Ground in Michigan on three unique road courses, each riddled with simulated potholes of increasing severity. Engineers run preproduction cars through the course up to hundreds of times.