Forget the ads touting which full size pick-up has more hauling capacity, or which one can stop just before going over the edge of a cliff, or even which truck makes you feel more American, rural, or cowboy. None of that matters.
Here's what talks with truck buyers: cash. The more the better. And right now, pick-up buyers are picking up deals that have them sitting in the catbird seat. In fact, GM
General Motors Corp is doubling the cash back it's offering people who buy a new Chevy Silverado or GMC Sierra. That's an extra $1,000 on top of 0% financing.
Why would GM throw out such a an offer on new trucks that just came out last fall? To keep up with Toyota, that's why. Yes, the Japanese automaker is finally hurting the Big 3 where it really hurts--in pick-up sales. Last month, thanks to generous deals including 0% financing, Toyota Tundra sales shot up 21%. Meanwhile GM's total sales in June plunged thanks to weaker than expected truck sales. When I talked with people in motown last week, it was clear the hit in truck sales is not sitting well with American auto executives.
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