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More than 5,500 people tried to get the 2016 Chevy COPO Camaro

It's stating the obvious, but the 2016 Chevy COPO Camaro is popular with enthusiasts. So much so, it's attracted more than 5,500 hand raisers, General Motors said Tuesday at an event to show off the company's new Performance and Racing Center in Pontiac, MI. Unfortunately for drag racing fans, Chevy will only sell 69 of them, as it has for the last four years. The COPO Camaro can be configured for the NHRA Stock and Super Stock classes. It comes with racing-tuned chassis pieces and a solid rear axle. Power choices include 5.7-, 6.2- and 7.0-liter V8 engines. About half of COPO Camaro owners race their cars, and the rest keep them as collectibles. Jim Campbell, GM vice president of Performance Vehicles and Motorsports, wouldn't say if the COPO is a profitable venture, but noted the fire-breathing dragster raises the image of Chevy and Camaro. "It makes sense for our business from a number of perspectives," he said. The first COPO Camaro, a Courtney Force-styled racecar that was revealed in November at the SEMA Show in Las Vegas, hammered for $300,000 at the Barrett-Jackson auction last month. The proceeds went to the United Way. Campbell said low COPO production keeps interest high. Enthusiasts can also build their own COPOs by buying a rolling chassis and a crate motor, though those are not viewed by collectors in the same manner as GM factory-built creations. The COPO Camaro's V8 is one of several competition engines designed, built, and validated at the GM Performance and Racing Center. The Corvette C7R's 5.5-liter V8 and the Cadillac ATSV.R's 3.6-liter twin-turbo V6 are two more. Chevy calibrates and conducts dynamometer testing on its 2.2-liter V6 for IndyCar and performs design work on its NASCAR V8 at the facility, which existed previously at another location in Michigan. Related Video:

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.

GM plans new car family for global markets, $5B investment

Globalization remains all the rage in the auto industry, as manufacturers scramble to develop single vehicles that can easily be adapted to the world's disparate market places. Ford has been a champion of this movement, with its One Ford mandate, but now, its cross-town rival is getting in on the action, albeit on a smaller scale. General Motors has announced a $5-billion investment to develop a new Chevrolet-badged family vehicle for global growth markets, including Brazil, Mexico, India, and importantly, China. With the PRC listed as a target market for the new vehicle, it's no surprise that GM is teaming with its Chinese joint-venture partner, SAIC Motor, to develop the vehicle's architecture and engines. The first vehicles should be hitting dealers by 2019, with GM expecting to eventually move some two million units per year. "With a significant majority of anticipated automotive industry growth in 2015 to 2030 outside of mature markets, Chevrolet is taking steps to capitalize on that growth," GM President Dan Ammann said in the attached statement. "Strengthening Chevrolet's position through this major investment is consistent with our global strategy to ensure long-term profitable growth in the markets where we operate." GM is quite focused on developing markets for a new vehicle, going as far as to say that "mature markets" like the US aren't currently being considered for the new family vehicle. As for where it will be built, the press release specifically says it won't be exported to the US, meaning it will very likely be built abroad using parts from local suppliers. Read on for the official press release from General Motors. Chevrolet Strengthens Position in Growth Markets with $5 Billion Investment 2015-07-28 All-new vehicle family tailored to local customer requirements General Motors and SAIC Motor partnership further enhanced DETROIT – Chevrolet announced today it is investing $5 billion to strengthen its business in global growth markets through the development of an all-new vehicle family that will meet the rapidly changing demands of customers in these markets. "With a significant majority of anticipated automotive industry growth in 2015 to 2030 outside of mature markets, Chevrolet is taking steps to capitalize on that growth," said General Motors President Dan Ammann.