GM boosts prices on 2014 pickup trucks, perhaps as marketing ploy
detroit » General Motors is adding a twist to the fight for supremacy in the redhot U.S. pickup-truck market: It’s raising prices.
GMis adding nearly $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, aswell as the GMC Sierra, will see similar percent- age increases.
Raising prices sounds like an odd way to boost sales. But industry analysts suspect it’s a marketing ploy. They expect GM to raise incentives starting next month so dealers can advertise big discounts. Customers will feel they’re getting a deal— whether they actually are or aren’t depends on the size of the discount.
The move comes after GM’s pickup sales fell 8 percent in Septemberwhile its two biggest competitors saw increases. Sales of Ford’s F-Series, the best-selling pickups in the U.S., rose 10 percent, and Chrysler’s Ram posted an 8 percent increase.
GM didn’t offer the sweet deals Ford and Chrysler did last month, said Jesse Toprak, an analyst for the TrueCar.com auto-pricing website. Raising prices and then adding incentives is common in the business. And truck buyers especially like to get deals, Toprak said.
“This whole change in pricing strategy for trucks atGMis reallymeant predominantly as a sales-closing tactic for dealerships,” he said. The increase covers trucks built after Oct. 7, so pickups nowon dealer lots won’t be affected.