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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.

2016 GMC Terrain refresh revealed

Posting its best-ever sales year in 2014, the GMC Terrain is hauling in sales, conquest buyers, and profits for the brand. GMC wants that to continue with its refresh for the 2016 model year, which sees the underlying formula left untouched under a raft of cosmetic and trim changes. There will be four trim levels: SL, SLE (SLE-1 and SLE-2), SLT, and Denali. They all get a front fascia with a lot more character, sculpted with chrome-outlined, C-shaped ornamentation, and all but the base SL version feature chrome accents on the grille. Flanking that, the headlights get new LED DRL signatures and the hood gets a power dome. The Denali gets new 19-inch alloys, models below it get new 18-inch wheel designs, and the sheetmetal color palette expands with the addition of White Frost Tricoat and Crimson Red Tintcoat. Beyond a revised center console, a mix of cabin offerings spice up the various trims. Premium cloth is the go-to for the SL and SLE, "Saddle Up" leather is an option on the SLT as well as an eight-way passenger seat, and a two-tone, dual-material Light Titanium and Jet Black interior is possible inside the Denali. Assistance features migrate down, with Side Blind Zone Alert and Rear Cross Traffic Alert available on the Terrain SLE and SLT for the first time. Engine choices remain the 182-horsepower Ecotec 2.4-liter inline-four, and the 272-hp 3.6-liter V6. The press release below has more details, and we'll have more on it live from the show floor. GMC Introduces 2016 Terrain New appearance, features build on success in growing compact SUV segment NEW YORK, March 31, 2015 – Distinguished by a new, more contemporary front-end appearance, the 2016 GMC Terrain and Terrain Denali were introduced today, ahead of their public debut at the New York International Auto Show. The 2016 Terrain lineup features new front and rear fascias, new grille designs, a power dome hood, light-emitting diode (LED) daytime running lamps and additional updates. Side Blind Zone Alert and Rear Cross Traffic Alert are offered on SLE and SLT models for the first time. "Terrain is a popular choice in the growing compact SUV segment, introducing drivers to GMC's professional grade design and features," said Duncan Aldred, vice president of GMC Sales and Marketing.

Sunday Drive: Spying an automotive future of performance

I spy, with my little eye ... the future of the automotive world here in the United States. That pretty much sums up this week's Sunday Drive, in which we pull out the most popular stories on Autoblog of the previous week and try to draw some sort of conclusion as to what binds them all together. This week, it's spy shots, starting with one of the biggest and baddest muscle cars the world has ever seen: the Dodge Challenger Hellcat. The Hellish coupe gets a new hood for 2019 with dual scoops, but that's about the only meaningful change for the new model year. No matter. As long as it's packing 700-plus horsepower under those two hood scoops, all will be right with the world. Moving on, we take keep the performance angle but move it from the street to the dirt with a new version of the Chevy Colorado ZR2 that we think is probably called the Bison. We think it'll keep the high-tech suspension bits of the regular ZR2, but add expedition gear that may include a snorkel and a winch. Which, if true, is pretty dang cool. Keeping the truck theme is the 2019 GMC Sierra. There's nothing particularly noteworthy about the trim level in which the truck was spied, and that's what makes this specific example interesting. Base-model trucks almost never get much attention, but they sell in droves to workers who need an honest-to-goodness truck for work or play and don't care about bells, whistles, or massive chrome badges. And finally we have the 2018 Jeep Wrangler, which is on fire on the sales floor right now. But those are all V6-powered Wranglers flying off the showroom floor. Soon, a turbocharged four-cylinder engine option will become available, and now we know that it will return up to 23 miles per gallon in the city and 25 on the highway. That makes it the most fuel efficient Wrangler that Jeep has ever sold. As always, stay tuned to Autoblog this week for all the automotive news that's fit to publish. 2019 Dodge Challenger Hellcat with twin-scoop hood spied with no camouflage Chevy Colorado ZR2 Bison caught testing 2019 GMC Sierra 1500 spied in base trim level 2018 Jeep Wrangler four-cylinder fuel economy revealed Spy Photos Chevrolet Dodge GMC Jeep Truck Coupe SUV Off-Road Vehicles Performance dodge challenger srt hellcat sunday drive