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Cadillac sales chief fired over policy violation

Amidst a good year for Cadillac, which is experiencing higher sales gains than any other US brand this year, the US sales chief has been fired over a policy violation, Automotive News reports.
The sales chief, Chase Hawkins, "has left effective immediately," GM spokesman David Caldwell told Automotive News. Caldwell went on to say that Hawkins' replacement would be chosen soon.
Hawkins became the US sales chief in June 2012, and before that was the regional sales director for Cadillac in the Northeast US, overseeing 168 dealerships.

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.

2015 Cadillac ATS Coupe priced from $37,995*

Cadillac has released pricing details on its new-for-2014 ATS Coupe. The new model, which will be available with buyer's choice of a 2.0-liter, turbocharged four-cylinder or a 3.6-liter V6 (the ATS Sedan's base 2.5 won't be making the trip) can be had with optional all-wheel-drive in place of the standard rear-wheel setup, while customers can also snag a six-speed manual or six-speed auto.
Prices start at $37,995, which represents a $2,900 premium over the 2014 ATS Sedan (pricing on the 2015 four-door isn't available yet) with the same 2.0-liter engine. Still, the ATS Coupe starts at just over $2,500 less than a base BMW 428i, which is also less powerful and offers less standard equipment. The Caddy is also less costly than the Mercedes-Benz C250 Coupe, although only by about $200. It's even cheaper than the Audi A5, which starts at $38,105, but that model includes all-wheel drive as standard. It should be noted that these prices are without their respective destination charges (*$995 for the Caddy, $925 each for the BMW and the Mercedes and $895 for the Audi).
Unfortunately, Cadillac hasn't released any additional pricing information beyond what we have here, so we can't tell you how much things like all-wheel drive, an automatic transmission or the 321-horsepower V6 will cost. That makes it difficult to figure out just how reasonable the ATS Coupe will be relative to its challengers, but so far, the value equation looks to be in the car's favor. When those full details roll in, though, you know where to look. Scroll down for the official press release from Cadillac.