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GM Dials Up Profit-Sapping Pickup Discounts as Rivals Gain

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General Motors Co. boosted incentives on its pickup models this month after its biggest foes gained ground, intensifying a price war within the U.S. auto market’s most hotly contested segment.

Discounts averaged about $6,996 for the Chevrolet Silverado and $5,315 for the GMC Sierra this month through Feb. 12, according to J.D. Power dealer data obtained by Bloomberg News. Incentives on GM’s models surged 56 percent and 82 percent, respectively, from a year earlier as Fiat Chrysler Automobiles NV and Ford Motor Co. dialed back their spending, according to the researcher...

...GM is being “especially aggressive" on incentives, Brian Johnson, a Barclays analyst, wrote Monday in a note. The carmaker’s incentive spending on large pickups is at the highest level in data going back to 2012, “and the second highest month isn’t close,” Johnson wrote...

...“It’s taking a lot more incentives now to move the metal than it did last year or certainly the year before,” said Michelle Krebs, senior analyst with car-shopping website Autotrader.com. “Things are slowing.”

GM spent 26 percent more in discounts on each Silverado truck than Fiat Chrysler paid per Ram and 85 percent more than Ford allocated for F-Series, according to the Power Information Network data, which J.D. Power doesn’t release to the public...

...GM also lost sales ground in 2016. Deliveries dropped 4.3 percent for the Silverado and 1.1 percent for the Sierra last year. F-series gained 5.2 percent to seal a 35th-straight year as the top-selling vehicle line in the U.S...

 

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GM is also offering 0% for 72 months + $5,000 off Suburban and Tahoe. Current Expedition is offering 0% for 60 months + $750 + $2750 Bonus Cash.

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