by Karl Utermohlen | October 16, 2013 2:03 pm
General Motors (GM) is looking to bounce back after its pickup truck sales fell 8% in September by raising the prices of its pickups.
The Associated Press reports that the base price for the GM’s 2014 Chevrolet Silverado will go up by $2,085 — from $24,585 to $26,670 — in an attempt to boost sales. The 8.5% increase in price could seem like an odd way to sell more cars but this move could be a ploy to raise the market price so dealers can sell GM pickups at a discount.
The move could help GM bounce back after a tough September that saw the company’s sales go down and its competitor’s sales go up. Ford’s (F) F-Series rose 10% last month and Chrysler’s Ram sales increased by 10%.
Source URL: http://investorplace.com/2013/10/gm-raises-prices-boost-falling-pick-truck-sales/
Short URL: http://invstplc.com/1fpjRA3
Copyright ©2017 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.