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New J.D. Power Initial Quality Study puts Porsche, GM in spotlight

J.D. Power and Associates has released its annual Initial Quality Study, and this year, Porsche and General Motors took the spotlight. The study, which asks new car owners to report problems experienced during the first 90 days of ownership, found that overall, the industry averages 113 problems per 100 vehicles.
Porsche managed a score of just 80 problems per 100 vehicles, while GMC took the second spot on the podium with 90. Lexus filled out the top three with 94 problems per 100 vehicles, followed by Infiniti at 95 and Chevrolet at 97. The study also looks at specific models, and found the Lexus LS to enjoy the best initial quality at 59 problems per 100 vehicles.
Interestingly enough, the report found that around two-thirds of most owner problems experienced in the first 90 days are attributable to vehicle design instead of mechanical failure. Specifically - echoing a refrain we've been hearing for the last few years - owners are having a hard time figuring out how to use the technology present in their new vehicles. Head over to the J.D. Power site for more information, or scroll down below for the company's related press release.

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.

GMC reveals updated 2016 Sierra

It was just the other day that Chevy revealed the face of the new 2016 Silverado. And as might have been expected, sister brand GMC has followed up by unveiling its version in the facelifted 2016 Sierra pickup – just two and a half years since the current all-new model was rolled out. Though details released thus far remain few and far between, GMC has revealed more images of the new Sierra – in SLT, Denali and All Terrain trim levels – than Chevy did of the updated Silverado. It's got new headlights, fog lamps, and C-shaped daytime running lights and taillights, all using LED elements. It's arguably a more muscular look than the Chevy version, and with more chrome than the toned-down Silverado. That is, at least, in SLT and Denali trims. The All Terrain version looks more in line with the similarly off-road-focused Silverado Z71 and its color-keyed treatment. The changes ought to help GMC keep up the momentum that has seen its sales rise year-over-year every month over the past twelve. The interior shots indicate that the new Sierra will incorporate Apple CarPlay like GM is installing in so many models across its various brand ranges. But we'll have to wait a little while longer for all the details. Related Video: 2016 GMC Sierra Unveiled 2015-07-15 DETROIT -- GMC's best-selling truck has great momentum coming off its best June since 2006 and 12 consecutive months of year-over-year sales gains. With exterior styling as its top reason for purchase, the new truck adds key design elements: LED "C-shaped" signature daytime running lights and LED headlights; new front fascia and grilles for each trim level; new LED fog lamps; new bumpers; and new "C-shaped" LED taillights. The new Sierra will be available in the fourth quarter of this year, with additional details and information on the new model released in the coming months.