GM, Ford dealers boost discounts on big trucks

Sat Feb 8, 2014 5:25pm EST
 
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DETROIT (Reuters) - General Motors Co is boosting discounts on full-size pickup trucks by thousands of dollars to keep pace with competitors and to whittle down bulging inventories on dealers' lots.

Dealers for rival Ford Motor Co, meanwhile, are also offering hefty discounts.

GM (GM.N: Quote) is running a national Presidents Day sale through February 28 at Chevrolet and Buick-GMC dealers that provides incentives of up to $7,092 on the 2014 Chevrolet Silverado and up to $7,588 on the 2014 GMC Sierra. The more generous discounts are being implemented just eight months after the redesigned trucks hit the market last summer.

Ford (F.N: Quote), whose full-size F-series pickup has been the best-selling U.S. truck for 37 years, is providing much lower incentives of up to $3,250 on its big trucks. The F-series is due for a major overhaul late this year.

But many Ford dealers are advertising much richer deals on the carryover 2014 F-Series, with discounts ranging up to

$9,000.

On its website on Saturday, Mac Haik Ford in Georgetown, Texas, was selling a 2014 F-150 XLT for $36,315 - a discount of $8,790 from the suggested retail price of $45,105. At Marysville Ford in Washington state, a similar 2014 F-150 XLT was being offered for $8,360 off the $39,355 sticker price.

Chevrolet dealers are countering with even heftier deals, some much cheaper than GM's official Presidents Day specials.

Jeff Belzer Chevrolet in Minneapolis on Saturday advertised a 2014 Silverado 1500 for $20,084 -- $10,576 off the sticker -- while Wilsonville Chevrolet outside Portland, Oregon, listed a 2014 Silverado 1500 Crew Cab for $30,410, a discount of $10,705 from list price.   Continued...

 
A man walks through a pedestrian bridge near the General Motors headquarters in Detroit, Michigan December 3, 2013. REUTERS/Joshua Lott