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GM increases US truck incentives

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GM increases US truck incentives

As the sales pace decreases and the No.1 US automaker is losing market share, it’s now raising incentives on its high value margin pick-up trucks, but assures Wall Street analysts it would maintain premium pricing and profit margins.

Chuck Stevens, GM’s new chief financial officer and an important member of CEO Mary Barra’s new executive team was sent to New York to address Wall Street analysts concerns on pricing “discipline,” especially in the full-size pick-up trucks segment, which are usually hugely profitable.

UBS Securities said in a client note that GM is “working on marketing strategies to gain traction at the lower end of the (pickup) market without giving up pricing gains at the high end.”

February sales incentives, released by two industry research firms, show GM’s 2014 Chevrolet Silverado pickup average per vehicle discount grew to $4,218 in February, from $3,715 in January, according to Autodata – while the sales for the month fell 12 % year on year and Chevy’s market share in the segment went down by 3% to 22.5%.

Ford’s F-150, which is still sold under the old generation (the new F-150 is due sometime later this year), commands 34 % of the full-size pick-up truck segment and the line-up sales gained 3% in February, although the company slashed its incentives to $2,835.

by Aurel Niculescu (my Google+) - Thursday, March 6th, 2014 - filed under Chevrolet, General Motors, Industry, News. Image credit: .
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