TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

GM increases prices as pickup battle rages

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

Daily Photo Galleries

Business Photo Galleries

By The Associated Press
Thursday, Oct. 17, 2013, 12:01 a.m.
 

General Motors is adding a twist to the fight for supremacy in the red-hot pickup market: It's raising prices.

GM is adding almost $2,100 to the sticker price of the base 2014 Chevrolet Silverado. That's 8.5 percent above the price when the truck hit showrooms in the spring. Other versions of the Silverado, as well as the GMC Sierra, will undergo similar percentage increases.

Industry analysts suspect it's a marketing ploy. They expect GM to raise incentives next month so dealers can advertise big discounts and make customers think they're getting a deal.

The move comes after GM's pickup sales fell 8 percent in September while its two biggest competitors reported increases. Sales of Ford's F-Series, the best-selling pickups in the country, rose 10 percent and Chrysler's Ram posted an 8 percent increase. The Detroit Three dominate the nation's full-size pickup sales with 90 percent of the market. The Toyota Tundra and Nissan Titan make up the remainder.

GM didn't offer the sweet deals Ford and Chrysler did last month, said Jesse Toprak, an analyst for auto pricing website TrueCar.com. Raising prices and then adding incentives is common in the business. And truck buyers especially like to get deals, Toprak said.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Small retailers at intersection of social networks, foot traffic
  2. Woman on dating site looks too good to be true: How to vet that pic
  3. 153-year-old Venango well pumps out oil, history
  4. In ‘StockCity,’ real investing like game
  5. Test-tube tuna may be sea change
  6. Business Council for Peace program works to export profits, peace
  7. Iron ore price decline hurts U.S. Steel’s cost advantage over rivals
  8. Slow hunting, golf sales again drag down Dick’s profit
  9. Health care, gas drilling industries await Gov.-elect Wolf’s footprint
  10. Kia’s 1st electric vehicle charges fast, goes distance
  11. U.S. Steel reorganizes operating units
Subscribe today! Click here for our subscription offers.