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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 Cadillac CT4 Review & Buying Guide | Cadillac recommits to the small sedan

The 2020 Cadillac CT4 is a brand-new entry into the baby luxury sedan space, replacing the ATS. With an excellent rear-wheel-drive chassis and a performance-oriented “V” trim (to be topped by a yet-wilder “Blackwing” model), the CT4 is aimed at the enthusiast end of the segment. Cadillac fields the lone American entry in this class, meaning the CT4Â’s main competitors — the Audi A3, BMW 2 Series Gran Coupe and the Mercedes-Benz A- and CLA-Classes — are all European. However, since it's a bit bigger than those and features a rear-wheel-drive platform (all-wheel drive is available), it's hardly an apples-to-apples situation. The Genesis G70 is perhaps a closer comparable. In any event, the CT4 is a compelling, American alternative that delivers excellent comfort, interior quality and driving dynamics at a price that strongly challenges the various competitors from Europe. What's new for 2020? The Cadillac CT4 is new for 2020, alongside the bigger CT5. You can check out our first drive of the hot CT4-V model for more on CadillacÂ’s new sedan strategy. 2020 Cadillac CT4 View 4 Photos What's the CT4's interior and in-car technology like? The Cadillac CT4 packs the sort of high-quality materials and convenience features one expects from an entry-level luxury model. The seats are comfortable and supportive, and in higher-end models, the front buckets are offered with heat, ventilation and massage features. The CT4 also boasts what GM calls a “sound-optimized” interior coupled with active noise cancellation and amplification to mitigate unpleasant frequencies and enhance desirable ones. In all, we find the CT4Â’s interior much more compelling than that found in other recent Cadillac products such as the new XT4 crossover. The infotainment system is controlled by an 8-inch touchscreen with an optional rotary-control interface. The base setup includes Android Auto, Apple CarPlay and Amazon Alexa integration and offers USB Type-A and Type-C connectivity and charging. Upgrades include navigation and multiple Bose audio packages, all of which bring with them wireless device charging. How big is the CT4? Like many of CadillacÂ’s previous sport sedans, the CT4 is a bit of an oddball size-wise for the segment it targets, stretching more than a foot longer than the Audi A3 and nearly 9 inches longer than the BMW 2 Series Gran Coupe. However, this doesn't translate into a comparable interior space advantage because of the CT4 rear-wheel-drive platform.

Electric Cadillac Lyriq, Chevy Bolt EUV and more GM electric cars are on the way

GM’s murky and somewhat secretive electric car plan is falling into place, as the company dumped a massive amount of information about whatÂ’s in the pipeline at an event at its Warren, Michigan campus today. New EVs are going to be popping up across the GM brand lineup, with new entries from Chevrolet, Cadillac, GMC and Buick in progress. We also learned some big news about GMÂ’s new Ultium battery tech today, but check out this story for all of those nitty-gritty details. The electric vehicle onslaught will begin with the Cadillac Lyriq, an electric SUV thatÂ’s already been teased out. Naming it the Lyriq is the news today. No explanation for the name was provided, so weÂ’ll have to wait for April to learn more. GM didnÂ’t specifically say if the Lyriq would be launched at the NY Auto Show, but that show (assuming coronavirus doesnÂ’t cancel it) will begin on April 8 this year. Next up in the order of events is the GMC Hummer electric truck that we know will be launching on May 20. This truck will use GMÂ’s modular Ultium battery technology. However, the wait to buy a GMC Hummer will be a long one, as the truck isnÂ’t going to dive into production until fall 2021 at GMÂ’s Detroit-Hamtramck plant. GM revealed that its new modular Ultium batteries can be configured anywhere from a 50 kWh pack to a 200 kWh pack depending on the application. Range is estimated to be about 400 miles on the upper end with the largest battery pack, and GM continues to boast about a 0-60 mph acceleration time of three seconds. Charging estimates for the Ultium battery-equipped Hummer EV were also provided. GM says its truck platform will have 800-volt battery packs and be capable of 350 kW fast-charging. Time estimates werenÂ’t given, but those numbers suggest the truck will be a rapid charger. The Hummer truck on hand, which was the same that previously starred in GMC's Super Bowl spot, showed off removable roof panels that store in the frunk, as well as what appeared to be a version of GMC's Multi-Pro tailgate. It also featured sail panels on the sides, similar to those in front of the bed of the Chevy Avalanche. In addition to the Hummer, expect to see a couple Chevys launching. GM says the refreshed Bolt EV will be launched “in late 2020” with a refreshed interior and what appear to be thicker front seats.