GM Dials Up Profit-Sapping Pickup Discounts as Rivals Gain
- Incentives jump 56% on Chevy Silverado, J.D. Power data show
- Dealers advertising as much as 25% off some GMC Sierra models
GM Reports Record Year, Projects More Growth
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General Motors Co. boosted incentives on its pickup models this month after its biggest foes gained ground, intensifying a price war within the U.S. auto market’s most hotly contested segment.
Discounts averaged about $6,996 for the Chevrolet Silverado and $5,315 for the GMC Sierra this month through Feb. 12, according to J.D. Power dealer data obtained by Bloomberg News. Incentives on GM’s models surged 56 percent and 82 percent, respectively, from a year earlier as Fiat Chrysler Automobiles NV and Ford Motor Co. dialed back their spending, according to the researcher.