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Chevy Cuts Prices By Over $10,000 On Some Trucks And SUVs

Discussion in 'Auto, Tractor, Motorcycles, Racing, and Mechanics' started by Scorpio, Dec 25, 2016.



  1. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    Chevy Cuts Prices By Over $10,000 On Some Trucks And SUVs
    16 / 20
    [​IMG]
    24/7 Wall St.

    Douglas A. McIntyre 5 hrs ago


    [​IMG]

    © John Gress/Reuters

    GM's (NYSE: GM) Chevy has taken discounts to an extreme level. It has incentives as high as $10,000 for several of its trucks and SUVs. Incentives are usually considered a bane of the industry due to the damage the deals do to margins.

    A number of analysts and the press have pointed out that GM overbuilt cars and trucks in anticipations of extremely strong sales in late 2016 and early 2017. The decision turned out to be a poor one. The manufacturer did admit its mistake, via Bloomberg

    In using shorter-term shutdowns in January, GM is trying to reduce inventory from an almost 90 days supply to about 70 days by the end of next month, according to Dayna Hart, a company spokeswoman. In addition to the factories in Detroit-Hamtramck, Lansing and Lordstown, the plants being idled are in Bowling Green, Kentucky, and the Fairfax industrial district of Kansas City, Kansas.

    Chevy's discounts are inexplicably on vehicles which have taken in lead in pushing the U.S. car industry higher--SUVs and light trucks. This is another sign that something is amiss at America's largest car company.

    Two of the discounts above $10,000 are on GM's best selling vehicle--the Chevy Silverado. Every year it is locked in a market share battle with the best selling vehicle in the U.S.--the Ford (NYSE: F) F-150 pickup. Fiat Chrysler (NYSE: FCAU) is also in the battle with its RAM pick-up

    Chevy discounts include both lighter and heavier versions of the Silverado. The biggest deals are on 2016 models, which Chevy would like to push out as 2017 models hit showrooms. The Silverado 2500 HD LTZ with Duramax Plus Discount has a price shop of $10,820 which includes holiday price below MSRP (manufacturer's standard retail pricing) and a $5,000 total cash allowance. A version of the heavier 3500 carries a discount of $10,760.

    The Chevy Suburban, the GM division's largest SUV, is also discounted by over $10,000 for one model. The LT has a luxury price and cash allowance price cut of $10,124. The mid-sized 2016 carries a total discount of $11,106

    GM may argue that the discounts are merely meant to clear 2016 models. However, that does not make the move good news

    http://www.msn.com/en-us/money/comp...on-some-trucks-and-suvs/ar-BBxy7fx?li=BBnb7Kz
     
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  2. Irons

    Irons Deep Sixed Site Supporter Mother Lode

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    A number of analysts and the press have pointed out that GM overbuilt cars and trucks in anticipations of extremely strong sales in late 2016

    This is what happens when you listen to your own bullshit. Feck GM.

    .
     
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  3. Usury

    Usury Gold Chaser Platinum Bling

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    Everyone's having deep discounts right now.
     
  4. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    as further evidence:

    General Motors/CEO
    upload_2016-12-25_17-34-50.jpeg
    Mary T. Barra
    Jan 15, 2014–
    Mary Teresa Barra is the Chief Executive Officer and Chairperson of the General Motors Company. She has held the CEO position since January 15, 2014, and she is the first female CEO of a major global automaker.Wikipedia
     
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  5. Buck

    Buck Fabian Society Gold Chaser

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    Doesn't the EPA throttle them again, Jan 1, 2017?
    IDK, maybe it includes all vehicles left in stock at the dealership level, too

    I'm suspecting, unless this is all reversed or at least stopped, our vehicles, in 10 years, won't look anything like a 1955 Chevy nor a 2016 Ford
     
  6. the_shootist

    the_shootist I self identify as a black '69 Camaro Midas Member Site Supporter ++

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    Yah well, she's still the first....no matter how much damage she's done
     
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  7. <SLV>

    <SLV> Gold Member Gold Chaser Site Supporter

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    ... and they are still overpriced.
     
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  8. Someone_else

    Someone_else Gold Member Gold Chaser

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    When I hear about X thousand $$ discounts, I have to ask, "What the HELL was the asking price?!"
     
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  9. D-FENZ

    D-FENZ Gold Member Gold Chaser Site Supporter ++

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    They already got enough of my money when they looted the public till for many billions. No way they will be able to lower the price enough for me.
     
  10. the_shootist

    the_shootist I self identify as a black '69 Camaro Midas Member Site Supporter ++

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    I haven't bought an American made vehicle in 25 years. All fluff, no substance and they start at 20 grand for all that value
     
  11. ErrosionOfAccord

    ErrosionOfAccord #1 Global Warmer Gold Chaser Site Supporter

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    Will never buy another GM, not used, not new, not ever!
     
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  12. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    Just my opinion, if you can discount $10k, you were overcharging $10k.

    Government Motors central planning fails. Go figure.
     
  13. Irons

    Irons Deep Sixed Site Supporter Mother Lode

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    Yah! @ 10k off it's only 55k for a god damn pick up truck that will be an undriveable heap of chinese rust in less than 5 years. What a deal, peeps!!!
    ........................................................ aacraz.gif


    .
     
  14. southfork

    southfork Mother Lode Found Mother Lode

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    Would never buy a gm after they robbed the secured creditors in the bk and gave the money to the corrupt unions.
     
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  15. D-FENZ

    D-FENZ Gold Member Gold Chaser Site Supporter ++

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    Bond holders, by contract law get paid before the light bill gets paid. But not in 0merica...
     
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  16. Usury

    Usury Gold Chaser Platinum Bling

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    EXACTLY why I won't even consider a GM or Chrysler product.
     
  17. Ensoniq

    Ensoniq Midas Member Midas Member Site Supporter ++

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    10 off 35 is pretty strong

    I don't need another tuck now though
     
  18. stoli

    stoli New Member

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    Wait till they raise interest rates . They'll discount them $20,000 to get rid of them.
    I just picked up a nice low mileage 1992 silverado for $1200 to replace my worn out 1988 sliverado.

    $1200 is about 1/2 the cost of the sales tax on the new fancy air bagged piece of crap.
    Not to mention the taxes you would pay in my state for the privilege of parking said $35,000 tin can in my own driveway

    My worn out 88 is going to be my parts truck for the 92 .
    I should be good to go for the next 15 years of driving pleasure with little cost for repairs.

    No Debt No worries!!


    I drive my 67 C10 on date night.:funky:
     
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  19. Someone_else

    Someone_else Gold Member Gold Chaser

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    When they offer that PU for $15K, I will be interested. No more! A pickup truck is NOT worth more than that. NOT. Did I write NOT!? If they don't think they can make a pickup for 15K, then they can cram it up their ass. Fifteen K or cram it up your ass holes. Your choice.
     
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  20. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    The reason they cut the prices like that is because there's no need for a brand new car anymore at this point, of a 5 year old, mint example costs like 75% less and does essentially the same job, almost as reliably.
     
  21. Usury

    Usury Gold Chaser Platinum Bling

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    That's not really true of trucks in most markets right now. When my wife and I bought her SUV, we got a 3-yr old certified one for over half off. However trying to find similar deal on a truck proved pointless. I ended up waiting for a 20% off sale on a new one and sprung on it instead.
     
  22. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    I have heard that is the case with trucks, specifically.
     
  23. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    andial and Irons like this.
  24. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  25. Usury

    Usury Gold Chaser Platinum Bling

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  26. Usury

    Usury Gold Chaser Platinum Bling

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    I got a news alert earlier that Ford has decided to move some Mexican production back to U.S.
     
  27. the_shootist

    the_shootist I self identify as a black '69 Camaro Midas Member Site Supporter ++

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    Those who are savvy investors might want to get in on the ground floor of the Detroit RE market before the upcoming resurgence. Build-able lots are selling for a hundred bucks in da hood!
     

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