GM boosts profit-sapping pickup discounts as rivals gain
Southfield, Michigan
GENERAL Motors Co boosted incentives on its pickup models last month after its biggest foes gained ground, intensifying a price war within the US car market's most hotly contested segment. Discounts averaged about US$6,996 for the Chevrolet Silverado and US$5,315 for the GMC Sierra last month through Feb 12, according to JD Power dealer data obtained by Bloomberg News.
Incentives on GM's models surged 56 per cent and 82 per cent, respectively, from a year earlier as Fiat Chrysler Automobiles NV and Ford Motor Co dialled back their spending, according to the researcher.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
EV automakers get reprieve in US tax credit rules
Abu Dhabi hub carrier Etihad adds banks to US$1 billion IPO
Luminar to cut nearly 20% jobs as part of restructuring
Chinese share of French EV market slumps after incentives curbed
Ferrari unveils US$423,000 sports car with 1960s bloodline
Airbus called for compensation to take on money-losing Spirit operations: sources