february 11, 2015

Editor-in-Chief's Note: Michael Millikin, GM's General Counsel, was supposed to retire early this year, but will now stay on until July, as Ben Klayman, of Reuters discovered in a footnote in the company's regulatory filing with the S.E.C. GM insists the search for Millikin's replacement is going along just fine, but of course it doesn't appear that is the case. Oh well. As I said in my column last July, according to the Valukas report on GM's ignition recall fiasco, Millikin, was completely unaware of what was going on with the situation until February of 2014, but that two of his deputies were knee-deep in it and lost their jobs because of it. Really? Millikin was the architect of GM’s feared legal department, an “Adjustment Bureau” of sorts that made a habit of running roughshod over anything and everything inside that corporation, whether it came under the purview of the legal department or not. “Not knowing” was as far away from Millikin’s modus operandi as you can possibly get. This guy took great pride in knowing everything there was to know about the company, often putting his nose – and the boots of his legal stormtroopers – in places that they didn’t belong, to the detriment of many. And I will remind you again that Millikin was one of Dan Akerson’s closest - if not the closest – allies, and the two were joined at the hip while plotting, ruminating and generally concocting mayhem within the company according to Captain Queeg’s mood on any given day. No wonder GM is taking its time to replace Millikin - and that candidates appear to be hesitant to sign up for the job - after all, who could possibly follow that stellar legacy? - PMD

Editor-in-Chief's Note: Uh-oh, it's time for the denizens of the Silver Silos to circle the wagons, apparently. Harry J. Wilson, one of a horde of former Obama administration auto advisers, wants to join GM's board and wants to "bring before the annual meeting a proposal that the company commit to completing $8 billion of share repurchases on or before the first anniversary of the 2015 annual meeting.”  Wilson has four investment funds in his pocket: Appaloosa Parties, Taconic Parties, HG Vora Parties and the Hayman Capital hedge fund, and together those groups own around 34.4 million shares or thereabouts, or approximately 2.1 percent of GM. Wilson has “a fee arrangement under which he will receive a percentage of the group’s profits from their investment in GM.” Of course he does. This is about antsy investors wanting an accelerated payout from GM, but anytime a company has a board member forced upon it, the chances that it could turn into something Not Good are high. A giant "We'll See" as I like to say. - PMD

(Chevrolet)
Editor-in-Chief's Note: The Chicago Auto Show is coming up this week and it's one of our favorite auto shows for two very specific reasons. 1. It's far enough away from Detroit that the hangover from the Detroit Auto Show is but a distant memory. And 2. It's the "people's" show, meaning all the insider bullshit and faux gravitas that hang over the Detroit show like a bad dream is wonderfully absent, meaning it's a show for real people who want to see real cars they actually might buy. Which is why we consider it a more accurate barometer of the real state of the business than the Detroit show will ever be. Detroit is too much about posturing, peacocking and impressing other colleagues in the business. Chicago, on the other hand, is the biggest retail-oriented show there is in this country. But, and there's always a "but" in this business, because the Chicago show happens so quickly after the Detroit show - and before the Geneva and New York shows - that the manufacturers scramble to manufacture news. For instance, Ford is showing updates to their police package vehicles, while the other manufacturers are busy putting trim and tape packages together in the hope that they will score some points with somebody. Like Chevrolet is attempting to do with the 2015 Colorado GearOn™ Special Edition (above), which "blends the capability of the all-new midsize pickup truck with the versatility of the GearOn accessory system – and additional popular features," according to the manufacturer. The Colorado GearOn Special Edition goes on sale this spring with a starting price of $31,250. It’s offered on LT models in extended or crew cab configurations, with the long or short cargo bed and available 4WD. This is what Chevy says: “Chevrolet Colorado answers the call for customers who have passions of all types and the GearOn accessory system enables them to bring more adventure wherever they go,” said Tony Johnson, Colorado marketing manager. “And with Colorado offering segment-leading efficiency and capabilities, it’s a combination that maximizes adventure without compromise.” This is what we say: W-h-a-t-e-v-e-r. - PMD

(Photo by Aynsley Floyd for Chevrolet Chevrolet)
After consulting Super Bowl MVP Tom Brady, the star quarterback of the New England Patriots, Chevrolet called an audible and presented an all-new Colorado pickup to New England Patriots cornerback Malcolm Butler, whose end zone interception preserved the Patriots’ victory in Super Bowl XLIX. The Colorado was intended to be awarded to Brady in recognition of his Super Bowl Most Valuable Player award. Brady and Chevrolet talked on Monday, however, and Chevrolet determined Butler deserved recognition for his game-saving interception. “I’ve seen several game-changing moments in big games, and Malcom’s interception last Sunday ranks up there as one of the biggest,” said Brady. “I appreciate Chevrolet wanting to honor the Super Bowl’s top performer, and I’m glad they have agreed to award the Colorado to Malcolm.” Said Butler: “I am ecstatic that Chevrolet has chosen to reward me with a Colorado. It is just another unreal event in what has been an incredible week.” “Malcolm Butler’s interception was truly memorable and deserving of this recognition,” said Paul Edwards, U.S. vice president, Chevrolet Marketing. “We commend Tom Brady for being such a class act.” 

(Cadillac)
You can now order the 2016 Cadillac ATS-V through dealers, or you can spec one out online at www.cadillac.com beginning in April. U.S. prices for the 2016 ATS-V sedan start at $61,460. The ATS-V coupe is priced from $63,660.

(Ford)
Coming to a rearview mirror near you! Ford will unveil its revised 2016 Ford Police Interceptor Utility vehicle at the media preview for the Chicago Auto Show tomorrow. Based on the Explorer, the Ford Police Interceptor Utility is America’s best-selling police vehicle. Ford’s utility and sedan (based on the Taurus) police specials are the only Pursuit Rated vehicles with standard all-wheel drive.

(Porsche)
The new Porsche Cayman GT4 "clearly demonstrates Porsche’s dedication and passion to continue to promote truly industry-leading two-door sports cars in the future – sports cars that are developed at the Motorsport department in Weissach," according to the manufacturer. It also immediately becomes the driver's Porsche, as far as we're concerned. The Cayman GT4 - which utilizes components from the 911 GT3 - turned in a lap time of 7 minutes and 40 seconds on the North Loop of the Nürburgring, the same lap time as the 2011 911 GT3. The engine, chassis, brakes, and aerodynamic design of the Cayman GT4 are configured for maximum driving dynamics "while retaining the versatility and everyday utility that are typical of the Cayman," according to Porsche. Powered by a 385 hp 3.8-liter flat-six engine derived from the 911 Carrera S engine, the Cayman GT4 is only available with a six-speed manual transmission - hallefrickin'luja - with dynamic gearbox mounts. The numbers? Zero to 60 mph in 4.2 seconds; a top track speed of 183 mph. The chassis – which features a 30 mm lower ride height and a generously sized brake system – consists almost entirely of components from the 911 GT3.

The interior of the Cayman GT4 includes a smaller sport steering wheel and standard sport seats, which are upholstered in a combination of leather and Alcantara®.

The exterior aerodynamic package of the Cayman GT4 is distinguished by three pronounced inlet openings at the front and a large, fixed rear wing. Available options include the Porsche Ceramic Composite Brake (PCCB) system, carbon fiber composite bucket seats, and a custom Sport Chrono Package featuring a Track Precision app. The Porsche Cayman GT4, which makes its world debut in early March at the Geneva International Motor Show, will arrive at U.S. dealers in July 2015 with a starting MSRP of $84,600. The MSRP does not include a destination charge of $995.

Editor-in-Chief's Note: The 2015 Chevrolet Silverado that we had (very briefly) for our "Quick Take" this week was a genial beast. Supremely comfortable, utterly competent and perfectly unstoppable in snowy weather, this giant pickup truck speaks eloquently to the frenzy in pickup and large vehicle sales going on right now in this country. They're comfortable, well-built and they drive like they're at least 1500 lbs. lighter than they really are. As I've said in the past, these large vehicles bristle with as much advanced engineering as any of the hot performance cars out there right now. Why? Because it takes a lot of engineering know-how and expertise to make these trucks feel light on their feet. We're talking serious mass here, folks, and it's as tough an engineering task as there is in this business. Is it our daily cup of automotive tea? No, but we have the utmost respect for the engineering involved, and we can see why so many people find these giant trucks to be so appealing. They're that good. Our loaded-up Silverado gave us an excellent, up-close snapshot of the current state of the American pickup. And it's pretty damn impressive. - PMD

2015 Chevrolet Silverado 1500 Z71 4WD LTZ Crew: $54,175 ($45,810 Base Price; Silver Ice Metallic; Jet Black/Dark Ash interior; 6.2-liter, Direct-injected, Ecotec3 V8 with Variable Valve Timing, cylinder deactivation, 420HP @ 5600 RPM, 460 lbs-ft of torque @ 4100 RPM together with the Hydra-Matic 8L90 8-speed automatic transmission, $2495; Electric power steering; Trailering equipment package; 2-speed automatic transfer case; 3.08 rear axle ratio; Z71 off-road suspension; Hill descent control; Underbody shield, trans case; Auto locking rear differential; Monotube Rancho brand shocks; Four-wheel anti-lock disc brakes with Duralife rotors; STABILITRACK stability control with trailer sway control and hill start assist; Six month OnStar directions and connections with automatic crash response and turn-by-turn NAV, plus 5-year OnStar Basic Plan (omits safety, security and NAV); OnStar 4g LTE WI-FI hotspot with 3GB/3 month data trial; 40/20/40 leather-appointed split bench front seats; Memory adjust for driver seat; Heated driver and front passenger seats; 60/40 folding rear bench seat; Remote keyless entry; Remote vehicle start; Theft deterrent system; Power windows, driver express; Power sliding rear window; Power door locks; Rear window defroster; Dual zone climate control; Tilt and telescoping steering wheel; Leather-wrapped steering wheel; Steering wheel mounted audio controls; Rear vision camera; Universal home remote; Chevrolet MyLink audio system with 8" diagonal color touch screen; SIRIUSXM and HD radio (subscription sold separately after three months); USB ports; Bluetooth for phone (plus a bunch of other standard "technology & stuff"), LTZ Plus Package - Power adjustable pedals, Bose audio system, Front and rear park assist, Heated steering wheel - $1,165; 20" chrome wheels, $1,395; Heated and cooled seats, driver and front passenger, $650; Chevrolet MyLink audio system with 8" diagonal full-color touch display and Navigation (replaces standard/optional audio system), $495; Spray-on bed liner, $475; "Full feature" leather-appointed front bucket seats, center console with USB ports, $375; Movable upper tie downs (four), $60; Cargo box LED lighting, $60; 7,200 lb. GVW rating; 3.23 rear axle ratio; 20" all-terrain tires; Destination charge, $1,995)

Adherence to Brand Image: Even though GM has undertaken a crash program to restyle the Chevy Silverado - they went all conservative on the design of this truck and it shows - there's no doubt that the bones of this vehicle is the essence of what a Chevy truck should be. The redesign is much needed, but the truck is dead-solid-perfect in every other respect. - PMD