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

Scorpio

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#1
Chevy Cuts Prices By Over $10,000 On Some Trucks And SUVs
16 / 20

24/7 Wall St.

Douglas A. McIntyre 5 hrs ago




© 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
 

Irons

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#2
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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Usury

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#3
Everyone's having deep discounts right now.
 

Scorpio

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#4
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
 

Buck

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#5
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
 

the_shootist

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#6
as further evidence:

General Motors/CEO
View attachment 87753
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
Yah well, she's still the first....no matter how much damage she's done
 

<SLV>

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#7
... and they are still overpriced.
 

the_shootist

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#10
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
 

gringott

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#12
Just my opinion, if you can discount $10k, you were overcharging $10k.

Government Motors central planning fails. Go figure.
 

Irons

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#13
Just my opinion, if you can discount $10k, you were overcharging $10k.

Government Motors central planning fails. Go figure.
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



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Usury

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#16
Would never buy a gm after they robbed the secured creditors in the bk and gave the money to the corrupt unions.
EXACTLY why I won't even consider a GM or Chrysler product.
 

Ensoniq

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#17
10 off 35 is pretty strong

I don't need another tuck now though
 

stoli

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#18
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:
 

Someone_else

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#19
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.
 

CrimsonGuardJay

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#20
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.
 

Usury

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#21
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.
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.
 

CrimsonGuardJay

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#22
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.
I have heard that is the case with trucks, specifically.
 

searcher

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#23

Usury

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#25

Usury

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#26
I got a news alert earlier that Ford has decided to move some Mexican production back to U.S.
 

the_shootist

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