They may have just been in dealerships for a few months, but already, General Motors is adding cash incentives to the hoods of 2014 Chevrolet Silverado and GMC Sierra models. Starting in October, GM will begin offering $1000 customer cash on the 2014 Silverado, with some models qualifying for an additional $500 discount. Automotive News is also reporting that dealers will be rewarded $200 for each eligible sale on 2014 Silverados.
The sales rate on the Silverado and Sierra declined significantly from their torrid summer pace for September, with Silverado sales down 10.8 percent and Sierra sales down 1.5 percent. The Ford F-Series and Ram trucks were up modestly for September. GM claims the incentives were part of the planned sales and marketing strategy, and are not in response to competitors' offers or sales.
Some dealers have said that most of the “early adopters” who were eager to buy the 2014 models have already purchased them, and the current buyers are shopping more on the basis of value and price than having the latest and greatest model.
There has reportedly also been a disconnect between supply and demand for the new trucks, with a reported shortage of the volume 5.3-liter V-8 model due to a supplier shortage.
Source: Automotive News (subscription required)