General Motors has increased the prices of the 2014 Chevrolet Silverado and GMC Sierra full-sized pickups, as their 2013 versions are now running out of supply. All body styles of the base 2014 light-duty pickups will see a sticker price increase of $1,500 on all body styles, according to GM spokesman Jim Cain.
For instance, a base regular cab will see its price surge by 6 percent to $26,670 for the Silverado and $27,170 for the Sierra, including shipping. To temporarily offset the price increase, GM will offer up to $1,500 cash back through the end of the month on vehicles produced after Oct. 7, 2013. According to Cain, the price hikes are part of GM's new launch plan.
He said that they have successfully "sold down all of our 2013 light-duty trucks" and that they now have good availability, noting that they were able to evolve their pricing into "more of a mainstream approach that gives the dealers new tools to close sales."
GM's move to increase the price of its pickups comes amid a price contest in the segment, with leader Ford trying to hold off challenges brought by new offerings from GM and Ram.
According to Cain, GM had around 20,000 2013 pickups in inventory at September 30. The price hike comes as the combined sales of the Silverado and Sierra fell 8 percent in September. Combined September sales of the Silverado and Sierra, at 45,944 units, were nearly 15,000 units fewer than sales of the Ford F series.