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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.

2022 GMC Sierra 1500 Denali interior spied with dramatic redesign

The 2022 GMC Sierra’s interior overhaul is coming into better view with these new spy shots revealing a totally new dash.  GMC teased out a few changes when it announced Super Cruise was coming to the 2022 Sierra, but only so much was visible in the tightly cropped photo. These spy shots tell a fuller story about whatÂ’s going on inside the new GMC pickup. WeÂ’re instantly drawn to the new center stack that doesnÂ’t even remotely look like the truckÂ’s current design. ThereÂ’s a new widescreen infotainment system integrated nicely into the dash just below new thin air vents. It appears to be running a version of Android Automotive. The Google Assistant bubble is visible in the top left corner, and a Google sign-in screen is showing on the far right. GMC is obviously still prioritizing hard buttons and knobs for all vital controls. A big, knurled-looking volume knob is positioned to the left of the screen. And the climate control layout is all buttons and knobs with glossy black and chrome accents. This, along with the angled surfaces, classes it up a bit versus the current sea of flat black center stack buttons. Even the push button start appears dressed up in chrome. One other large change to the center console area is the introduction of a gear lever replacing the column-mounted shifter. The new shifter looks slathered in leather, glossy plastic and chrome accents. ThereÂ’s a part of us that will miss the chunky truck-like operation of the column-mounted shifter, but this new design is certainly more befitting of a luxury pickup. And from what we can tell, this Sierra is the luxury-oriented Denali trim. Its exterior features give it away with the ostentatious grille treatment and chrome trim scattered about. We still donÂ’t know which, if any, of these features we see here will be exclusive to the Denali, but the digital instrument cluster seems like a given but will likely be available further down the trim tree. This replaces the truckÂ’s current, tired-looking gauges with a vibrant and neatly-integrated screen. Super Cruise, as it is throughout the lineup of GM cars that offer it, also looks optional — this Denali does not have the fancy light-up steering wheel or controls for it. ItÂ’s worth noting that this DenaliÂ’s interior could be different than the rest of the Sierra lineup. GM already did that with the redesigned Yukon, giving its top trim model a different look than the rest of the trims.

2016 GMC Sierra All Terrain X is cool but no Raptor threat

If you want a brutish off-roader from Ford or Fiat Chrysler Automobiles, you're spoiled for choice. There's the F-150 SVT Raptor, the Jeep Wrangler, and the Ram Rebel and Power Wagon. But since General Motors killed the Hummer brand, it's been without any real competitor to those trucks. The new, special edition GMC Sierra All Terrain X is not going to be that vehicle, but it's close enough to be worth a look. The oft-overlooked Sierra All Terrain's off-road suspension and Eaton locking rear differential give it some real trail credentials. The All Terrain X builds on both with cosmetic and performance upgrades. For most owners, the big draw will be the brawnier 5.3-liter V8. Fitted with a performance exhaust, it should deliver a meatier tone, and according to GMC it bumps output up from 355 to 365 horsepower. The other big performance upgrade comes from the tires, knobby Goodyear Wrangler DuraTrac MT mud-terrain-rated things. The tires and their accompanying 18-inch black aluminum wheels are nice touches. Cool as the All Terrain X might be, it strikes us as an odd strategy for the GMC brand. For one, the trail-ready tires and performance exhaust of the All Terrain X don't seem to fit into the more premium market position that GMC occupies. Moreover, Chevy already has an off-road-oriented pickup in the new Colorado Z71 Trail Boss. Visual upgrades like the black bed-mounted sport bar, LED off-road lights, blacked-out accents, and the 18-inch wheels, the look of the All Terrain X is more in line with the Colorado Trail Boss theme. It's just our two cents, but it seems like attaching the All Terrain X's aesthetic to the Silverado would have been a stronger strategy, and would give Colorado buyers a larger off-road-focused truck to aspire to. You can look for the special edition All Terrain X in GMC dealers this spring, with prices to be announced closer to the on-sale date. Read on for the official press release from GMC. Related Video: GMC Announces Sierra All Terrain X The News GMC today announced the 2016 Sierra All Terrain X – a special edition of the All Terrain model, featuring exclusive premium content that enhances off-road capability and an aggressive, monochromatic appearance. The All Terrain X's powerful attitude reflects a popular personalization trend among off-road enthusiasts, executed with the top-range refinement GMC has cultivated for years with models such as the Sierra Denali.