TribLIVE

| Business


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

GM increases prices as pickup battle rages

About The Tribune-Review
The Tribune-Review can be reached via e-mail or at 412-321-6460.
Contact Us | Video | Photo Reprints

Daily Photo Galleries


By The Associated Press

Published: 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. Investment in Western Pa. startups reaches 5-year high
  2. Shale pioneer hires Chesapeake for drilling job
  3. Pandora sued by record companies
  4. 2014 Beetle is celebration of 65th American anniversary
  5. Pa. unemployment rate falls to lowest since 2008; 12,000 more enter workforce
  6. Court declines to block drug ruling in patent case
  7. Judge says American Airlines can’t end retiree benefits yet
  8. Wages have soared in Pittsburgh, but economy appears to have stalled
  9. Emboldened by Italy move, QVC to expand into France
  10. PPG shareholders vote against proposals; sales, profit see double-digit increases
  11. How’s your doctor doing? Comparison shop online
Subscribe today! Click here for our subscription offers.