Lutz: GM Raising Incentives For August - T900 Pickups Will Get Boost

[Perian]

Source: http://money.cnn.com/2007/08/09/auto...ce=yahoo_quote

GM to hike incentives on trucks in August

The U.S. automaker is seeking to boost sales in the full-size pickup segment.

August 9 2007: 11:41 AM EDT

DETROIT (Reuters) -- General Motors Corp. is raising incentives to boost sales in August, mainly in the full-size pickup truck segment, the automaker's global head of product development said Thursday.

"We are boosting incentives in August," Bob Lutz said on the sidelines of an industry conference in Traverse City, Michigan. "I think it's predominantly in the full-size pickups," he added.

UPDATE:

New Incentives: 2007 New T900 Silverado (Based on NYC area - your results may be different).

Silverado 1500 Extended Cab
$3,000 Cash Allowances OR as low as 0.0% APR for qualified buyers (2)
Silverado 1500 Regular Cab
$2,000 Cash Allowances OR as low as 0.0% APR for qualified buyers (2)
Silverado 2500HD (with LMM)
$3,500 Cash Allowances OR as low as 0.0% APR for qualified buyers (2)
Silverado 2500HD (without LMM)
$2,500 Cash Allowances OR as low as 0.0% APR for qualified buyers (2)
Silverado 3500HD (with LMM)
$3,500 Cash Allowances OR as low as 0.0% APR for qualified buyers (2)
Silverado 3500HD (without LMM)
$2,500 Cash Allowances OR as low as 0.0% APR for qualified buyers (2)

[Perian]

Originally Posted by Perian

. "I think it's predominantly in the full-size pickups," he added.

Who doesn't love Bob Lutz?

[FordFan]

First year and they're already forking cash? ouch.

[Pucks]

It was just a matter of time.

[Quickening]

Originally Posted by FordFan

First year and they're already forking cash? ouch.

Everyone is in the same boat. You've got to push cash on the hood to keep the marketshare. Toyota is loading the Tundra's with deals.

[adevine39]

I'd like to think that they should be able to keep incentives low, especially after driving all 6 full-sizers recently and coming away most impressed with the Chevy/GMC, but with so much emphasis being placed on "the deal" in the pickup market, they are underperforming a bit. It doesn't help that Consumer Reports continues to skew the truth to their own personally held misconceptions.

[zete]

Well, with Toyota dumping satchels of cash into the bed it was only a matter of time. Some folks are simply looking for the cheapest truck they can buy.

[Psionic Wibbly]

So is GM once again being forced by Toyota, to fight in a battleground and with weapons that are not of its own choosing or liking? and at a timing that is most unfavorable to its turnaround efforts?

[JazzyChef]

here in phoenix i've seen incentives on the tundra upwards of $7,000
off MSRP. For GM raise incentives from 1k to 2k is still better than the Tundra's 3k manufacturer incentive.

[BTrzebiato]

I currently drive a 2006 Chevy Silverado 1500CC Z71. For the most part I like it. I like the looks of the new GMC, but not so much of the Chevy. Toyota has a six speed transmission on their big V8 and GM only has this in the Denali and the HD's. I prefer the Tundra at present, but if GM did a few more things such as the 6 speed to help with performance/fuel economy as well as maybe be the first to market with a diesel in a half ton pickup that would be cool as well.

[UPLANDER1]

I too drove a 2004 Chev Z-71 , it was a great truck and did its job. I have now moved into the 2007 model and its so much better . Please take the time and take one Chev/GMC for a test drive. Believe me having the six speed VS the current stock tranny should not be the single reason for you to not drive the new 900s.

[adplusone]

Is the dapper Mr. Bob saying that are going to add on to the 0% 60 months OR large bonus cash incentives that were announced last year?

After all, last week was indeed August....

The article as written does not make that very clear...

[skylark68]

If you just gotta have the 6 speed, get a Sierra Denali. Plus, you get the 6.2 and not that wimpy 6.0.... haha.

[camaro_freak]

Originally Posted by skylark68

If you just gotta have the 6 speed, get a Sierra Denali. Plus, you get the 6.2 and not that wimpy 6.0.... haha.

I think the point that was made is you shouldn't have to get the TOP END model to get the better tranmission.

[mcool]

Originally Posted by FordFan

First year and they're already forking cash? ouch.

Given the housing industry downturn and the overt willingness of the competition to add incentives, this seems pretty fair. GM should use the best tools possible to retain marketshare in this segment. An aggressive use of incentives is what seems necessary to me.

Toyota's got cash and has shown an instant desire to buy marketshare for the new Tundra. With Ford and Dodge also making pricing competitive, what can GM do?

If GM gets used to making less profit on trucks because of more competitive pricing, it could help shift their efforts into fulfilling their promise to bring better car product to market. GM got lazy on the car front because they were so successful on the truck front.