Referring to the launch of GM’s K2XX-based pickup trucks — the 2014 Chevrolet Silverado and 2014 GMC Sierra — a recent statement from Barclays Capital analyst Brian Johnson stated that, “the launch has been arguably the least successful large pickup launch over the last 15 years.”
The analysis states that the recent decline in sales started with the 2014 model year trucks, yet despite their all-new nature, GM still hasn’t been able to close the gap with Ford’s F-Series — which has reigned as the single best-selling truck nameplate for over three decades. But one could argue that this is due to the awful weather conditions affecting much of the U.S., relegating potential consumers to their homes rather than shopping for new vehicles. In addition, GM’s truck sales did climb in 2013 overall.
In an attempt to spark sales for the full-size duo, GM has plans to roll out more sales incentives for 2014 Silverado and 2014 Sierra buyers next month, accompanied by a nation-wide sales campaign alongside the ever-popular NCAA March Madness basketball tournament hype. With this in mind, GM is presenting the incentives with advertisements during nearly every game in the bracket.
Though one may presume the state of affairs is rather unfavorable for The General, recent reports are showing that even still, average final transaction prices are nearly $4,000-$5,000 higher than those from last year. Even with the slight drop in sales, this rather large growth in margin is impressive for GM all the same, so the state of affairs doesn’t seem that bleak for GM after all.