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Top Gear names BMW i8 Car of the Year, Corvette, Ferrari, Mercedes also win big

The lads at Top Gear have released their listing of the finest cars of the past year, handing the ultimate honor to BMW's revolutionary i8 plug-in-hybrid supercar. "The i8 is a milestone in the annals of automotive history and a glorious statement for an exciting and positive future. The i8 delivers - and then some," the British mag wrote. The i8, though, was far from the only hybridized car to take victories. James May and Richard Hammond both highlighted hybrids as their personal cars of the year, with May saluting the Ferrari LaFerrari and the Hamster, unsurprisingly, heaping praise on the Porsche 918 Spyder. Jeremy Clarkson, meanwhile, opted to shock many by selecting not only an American car as his best of 2014, but giving the honor to of all things, a Corvette. Clarkson wasn't the only person to honor the USA's iconic sports car, with the new, 650-horsepower Z06 variant being named TG's Muscle Car of the Year. Other big winners include Mercedes-Benz, which TG honored for S-Class Coupe (Luxury Car of the Year), the new AMG GT (Sports Car of the Year) and the not-for-US C-Class Estate (Family Car of the Year). The 458 Italia Speciale A snagged a second win for Ferrari. The best of the rest include the Citroen C4 Cactus, Renault Twingo, Volkswagen Golf R, Lamborghini Huracan and Audi TT. Take a look below for the celebratory press blast from BMW. The BMW i8 wins Top Gear Car of the Year The BMW i8 has been named as Top Gear magazine's global Car of the Year 2014. The plug-in hybrid performance vehicle beat off some stiff competition from a host of other premium and luxury manufacturers to win the overall award. The editorial team of Top Gear commended the BMW i8 for its breadth of abilities. Its 1.5-litre three-cylinder turbocharged petrol engine combined with an electric motor gives searing acceleration and driver enjoyment but all wrapped in a package that takes BMW's EfficientDynamics philosophy to the extreme courtesy of CO2 emissions less than 49g/km and a 135mpg combined cycle figure. Charlie Turner, Editor in Chief at Top Gear magazine, said: "The BMW is a milestone in the annals of automotive history and a glorious statement for an exciting and positive future. The i8 delivers – and then some. It's the kind of car we should celebrate, a beautiful vision of the future, delivered now.

2015 Chevrolet Silverado Custom glitzes up volume model [UPDATE]

UPDATE: The original prices listed in Chevrolet's press release did include destination charging, despite not being specifically called out as such. We've edited the story to reflect this. The Chicago Auto Show's reputation as the home of special edition debuts grows stronger today, as Chevrolet is complementing the news that it'd unveil the Silverado Midnight Edtion and Colorado GearOn special editions in the Windy City with the debut of the Silverado Custom. And yes, it's different than the higher-spec Custom Sport that debuted just last month in Detroit. What's so custom about the Silverado Custom, you ask? Well, not a whole lot. The new truck is based on the popular Silverado LS Double Cab, and adds, among its most noteworthy features, a set of 20-inch, five-spoke wheels. From there, chrome is the order of the day, with shinier front and rear bumpers, mirror caps and door handles. The top portion of the front bumper, which is finished in black plastic on the standard LS, is matched to the body color on the Custom model. Standard LS interior features, like the 4.2-inch MyLink system with 4G LTE wireless internet, 40/20/40 cloth front seats, remain in place on the Custom, while it's a similar story with the powertrain. Choices below the sheetmetal will force buyers to choose between a 5.3-liter V8 or a standard 4.3-liter V6, and two- or four-wheel drive. Chevy is pricing a V8-equipped Silverado Custom 4x2 at $33,820 (including $1,195 in destination charges). Adding four-wheel drive brings the price up at $37,800, although as we said, selecting the 4.3-liter V6 will yield a more affordable Custom. Check out the full press release on the newest member of the Silverado clan, available below. 2015 Silverado Custom: Back to Basics, with Style $33,820 starting price for a well-equipped double-cab V-8 CHICAGO – Chevrolet takes aim at the heart of the pickup market with the Silverado Custom, which offers Chevy Truck capability and dependability in a stylish package, priced within reach of many truck customers. "The economic recovery has led to booming sales of high-end pickups like the Silverado High Country," said Sandor Piszar, marketing director for Chevy Trucks. "But there are also millions of customers in the heart of the market who want a great looking, well-equipped truck at an affordable price.

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.