Running from February 5 to 28, Chevrolet and Buick-GMC’s Presidents Day promotion entails providing huge incentives to dealers, according to a summary sent to dealers. The General Motors brands are offering $500 to $2,000 cash on most models and have sweetened a lease pull-ahead agreement that will waive two months of payments up to $1,000 for lease customers.
The Presidents Day promotion features the deep price cuts on its redesigned 2014 Chevy Silverado and GMC Sierra pickups. Likewise, all V-6 Silverado and Sierra models will be eligible for the same discounted prices GM offers to employees of its suppliers. Supplier pricing is the dealer invoice price, plus destination charge and a $150 program fee.
Chevrolet plans to advertise over $7,000 discount on its double cab V-6 All Star model. GM's share of the full-sized pickup market has dropped since the launch of the redesigned Silverado and Sierra last summer.
There are dealers wanting stronger incentives to ward off aggressive discounts from rivals like Ford and Ram. Combined market share for the Silverado and Sierra has been just 33 percent or lower in four of the last five months, which is below GM’s historical market share of between 35 and 40 percent.
GM spokesman Jim Cain remarked that the carmaker aims to raise awareness among consumers and dealers of its V-6 pickups. Examples of Chevrolets's Presidents Day deals include a $2,000 off on a 2014 Tahoe SUV and $500 discount on 2014 Malibu sedan.