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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.

Here's how Detroit is selling more luxury vehicles than Germany and Japan

Now there's an attention-grabbing headline, eh? Although the answer to the riddle - pickup trucks and SUVs - might be somehow deflating, the numbers involved deserve a going over. According to TrueCar's figures (click on the table to enlarge), six of the year's ten best-selling vehicles in the US that sell for a transaction price above $50,000 are body-on-frame, and the Mercedes-Benz E-Class is the only foreigner to crack the top five. Every enthusiast knows that pickup trucks are 'Murica's most popular vehicle by a colossal margin, and there have been plenty of reports about the popularity of luxuriously appointed trucks and SUVs, but compare these figures from TrueCar: 70 percent of Chevrolet Tahoe sales have a transaction price above $50K, and The Bowtie is expected to make $3.9 billion in revenue on 66,945 predicted high-dollar sales; 95.1 percent of E-Class sales break $50K, so the German company will make $4.0 billion on 67,006 predicted sales in that pricing sphere. It's about the only time you'll see the Tahoe ranked right next to Mercedes' bread-and-butter sedan. Ram is ahead of those two with $4.2B coming from $50K-plus sales. The Ford F-Series does almost as much revenue as the next three combined, with an expected $10.8 billion coming from sales of trucks over $50K - more than a quarter of the model's total sales, when a base F-150 can be had for about $26,000. Yes, the Germans make a lot more money on fewer sales, but considering the comparison, the bottom line isn't too troubled by such facts. Weighing like-for-like, the full-size Ford walks it in every category; elsewhere, the Chevrolet Silverado outsells the Ram, but the Ram outsells the Chevy by 6.7 percent above $50K. And for all the flak GMC takes over swapping out grilles, the Sierra also outsells the Chevy in the well-appointed segment, 16.1 percent of sales versus 11 percent – the Professional Grade brand is a huge profit center for The General. You'll find more info in the TrueCar press release below. TrueCar finds pickup trucks far outsell premium brands among top 10 vehicles over $50,000 Ford F-Series pickup sales over $50,000 surpass combined BMW 3, 5, 7 Series luxury car sales SANTA MONICA, Calif. (December 10, 2014) - TrueCar, Inc., the negotiation-free car buying and selling platform, finds mainstream pickup trucks and sport-utility vehicles dominate U.S.

GMC Sierra 1500 AT4X: Can you sleep in it?

Autoblog may receive a share from purchases made via links on this page. Pricing and availability are subject to change. The recently introduced GMC Sierra AT4X is an impressive combination of off-roading and luxury. But can you sleep in it? Pickups are great for towing campers or as a platform upon which to build out overlanding rigs, but from the factory they usually aren’t as useful as SUVs to sleep in, considering half of the length of the vehicle is taken up by the bed. Let's see how the AT4X fares. Space The biggest thing to consider when it comes to camping in your car is whether or not there is enough space in it for you and possibly a partner to lay down comfortably. This is tough when it comes to pickup trucks, which are hampered by the fact that half (or more) of the length of the vehicle is taken up by the bed of the truck. Some trucks have added features like lie-flat seats that make sleeping in them a bit easier, though itÂ’s still not a perfect solution. Unfortunately the AT4X is not one of those trucks. While the seats do lay back quite a good amount, I wasnÂ’t able to get comfortable enough to rely on them for a good nightÂ’s rest. To the rear we go. If youÂ’re vertically challenged, you may be in luck, especially if you donÂ’t sleep stretched out. The Sierra 1500 is a wide truck, almost 7 feet wide in fact. The rear bench measures 56 inches in width, which isnÂ’t a great option for most adults unless you really like sleeping in the fetal position. ItÂ’ll do in a pinch but I wouldnÂ’t expect to get a great night's sleep again and again.  Below the bench, which folds up and out of the way, is a relatively flat floor which can offer a bit more length. At 63” it still isnÂ’t enough for me to lie down with the doors closed, but it is much less cramped than spending the night on the bench. The subtle bump in the middle of the floor, which is much less severe than the ridges in the bed, can easily be remedied by an inflatable sleeping pad like the Sea to Summit Ether Light XT, or, even better, a cheap air mattress from Walmart. The Bed The bed of the AT4X seems like the most logical place to sleep. After all, it is named the bed for a reason right? If you have an inflatable mattress, then sure, but due to the ridges on the floor, a simple sleeping pad and sleeping bag will not be enough here. Additionally, the length of the bed leaves something to be desired.