Wed., 10:26am: GM boosts prices as pickup battle rages
DETROIT – General Motors is taking a seemingly odd approach to falling sales of pickup trucks: It’s raising prices.
The company says the price of the 2014 Chevrolet Silverado will go up almost $2,100 over the introductory price in the spring. GM is also raising prices on the GMC Sierra and other trucks.
Pickups now on dealer lots won’t be affected.
The move follows a tough September for GM: Its truck sales fell 8 percent, while rivals Ford and Chrysler saw increases. Spokesman Jim Cain says GM’s redesigned trucks can get higher prices because they’re the newest on the market.
But Industry analysts say GM is likely to also boost discounts on the trucks, starting in November, so dealers can advertise sales and customers can feel like they got a deal.