Hoping to steal a little full-size thunder from Ford and Ram, General Motors has announced fuel economy, power, and pricing for the new 2014 Chevrolet Silverado and GMC Sierra. The big news, revealed earlier today in the announcement for the GMC Sierra, is the 5.3-liter EcoTec3 direct-injected V-8's 23 mpg highway rating, which edges out Ford's EcoBoost V-6 by 1 mpg on the highway on both 2WD and 4WD models.

Specifications on the 2014 Silverado are unsurprisingly nearly identical to the Sierra, with power output of 355 hp and 383 lb-ft of torque, EPA ratings of 16/23 for the 2WD model with the 5.3-liter engine, and 16/22 for the 4WD model, a maximum payload of 2102 pounds and a maximum towing capacity of 11,500 pounds.

The big difference, and "big" is a relative term, is pricing. The Silverado's starting price of $24,585, including the $995 destination fee, is $500 less than is professional-grade sibling, with the same price differential applying on the double-cab and crew cab models, priced at $28,610 and $32,710, respectively.

Fuel economy and power ratings have not yet been announced for the base 4.3-liter V-6 or 6.2-liter V-8. The 5.3-liter V-8 is expected to remain the volume engine for both models, as it has been for the GMT-800 and GMT-900 trucks.

Source: General Motors