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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.

2020 GMC Sierra Heavy Duty First Drive Review | King of the haul

JACKSON HOLE, Wyo. — The 2020 GMC Sierra Heavy Duty is a bit of a mixed bag. It excels at the tasks an owner is likely to require from a massive pickup truck, but the interior is a definite letdown. Taken as a whole the truck boasts several class-leading specifications and features that make up for the lackluster look and feel of the cabin. And it's much more successful than the mechanically similar Chevy Silverado HD, which shares the Sierra's weaknesses but few of its subjective strengths. GMCÂ’s Sierra HD may share most of its major bits and pieces with the Silverado, but the strongest reason to pick the GMC over the Chevy is that the SLE and SLT trims of the Sierra HD are legitimately handsome. And the rugged, off-road-themed AT4 package is new for 2020 with a blacked-out look that we think a lot of buyers are going to love. Even the ostentatious, chrome-dipped Denali trim looks classy compared to the in-your-face look of FordÂ’s Super Duty line. The same canÂ’t be said for the Silverado HD, which, depending on trim level, varies from garish to just plain ugly. The six-function MultiPro tailgate is the next major differentiator. ItÂ’s not perfect — and mounting a hitch ball in the receiver renders some of its functionality unusable — but itÂ’s unique and potentially very useful to a subset of truck customers. WeÂ’ve covered MultiPro several times already, but if youÂ’re still not clear on its advantages, watch the video below for a demonstration (that's a light-duty Sierra in the video, but the tailgate works the same). This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Another unique selling proposition is the AT4 trim, since Chevrolet doesnÂ’t (yet) offer its Trail Boss package on the Silverado HD. The most obvious competitor to the Heavy Duty AT4 is the Ram Power Wagon, and the GMCÂ’s 3,615 pounds of payload and 18,500 pounds of towing capability handily outdo the RamÂ’s ratings of 1,660 and 10,620. Granted, the trucks arenÂ’t aimed at quite the same buyer — the Power Wagon has legit off-road credibility thanks to upgrades like its electronically disconnected sway bars, 12,000-pound Warn winch, and a forward-facing trail camera. But unlike the GMC Sierra AT4, it isnÂ’t available with a diesel. No matter; those aiming for a rough-and-tumble appearance in a heavy duty now have a couple options.

GMC Canyon, Chevy Colorado diesels finally heading to dealers

Customers who have been waiting to receive their diesel-powered Chevrolet Colorados and GMC Canyons should be relived to hear that GM will finally start to ship them out of the Wentzville Assembly Plant. "The highly anticipated 2016 GMC Canyon diesel has begun shipping to dealers," a company spokesperson confirmed to The Detroit News. The trucks originally had a fall launch date, but a final review forced a delay in deliveries. The 2.8-liter four-cylinder diesel in the midsize trucks produces 181 horsepower and 369 pound-feet of torque, and the company touts the engine's low emissions. The Environmental Protection Agency and California Air Resources Board even put the mill through extra scrutiny with a real world test in the wake of VW's diesel scandal, and the Duramax passed with no problems. At that time, a Chevy spokesperson told Autoblog that the models' launch was on track. The Duramax engine adds $3,730 to the price of a comparable V6 model, but they're the most fuel-efficient pickups on the market. The EPA estimates the twins at 31 miles per gallon highway, 22 mpg city, and 25 mpg combined in two-wheel drive form and 29/20/23 with four-wheel drive. Buyers likely can't wait to finally experience these pickups after reading a heap of positive reviews. The Colorado diesel recently earned Motor Trend's Truck of the Year award. We also came away impressed with it during our First Drive and liked the Canyon during our Quick Spin. Related Video: