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GM already raising prices on 2014 Silverado and Sierra pickups

General Motors must be pretty pleased with sales of its two newest pickups, the GMC Sierra and Chevrolet Silverado, as it's announced price hikes for both models, as part of a planned price tweak.
Prices will be bumped by as much as $1,500, although weirdly, they'll be offset by as much as $1,500 in cash-back offers through the end of October. Fox Business reports that GM spokesman Jim Cain said of the price hike, "With the sell down of the '13 models nearly complete, this price adjustment was planned and is a normal part of business."
The move, as Fox is quick to point out, is an interesting one, as sales of the twin pickups struggled last month relative to the Ford F-Series, while both of GM's crosstown competitors have been aggressively undercutting Silverado and Sierra prices. The F-150 starts at $24,070 and the Ram 1500 comes in at $23,600, not counting any cash on the hood. A base Silverado, meanwhile, retails at $25,575.

GM profit dips on truck changeover, but beats estimates

DETROIT — General Motors on Thursday reported a higher-than-expected quarterly profit despite a drop in production of high-margin pickup trucks, as it gears up for new models that are expected to boost profits next year. Like rivals Ford and Fiat Chrysler Automobiles, GM is banking on highly-profitable Chevy Silverado and GMC Sierra pickup trucks to lift profits, as consumers shift away from traditional passenger cars in favor of these larger, more comfortable trucks, SUVs and crossovers. During the first quarter, the process of changing over to GM's new pickups resulted in a drop in production of 47,000 units. GM Chief Financial Officer Chuck Stevens said the production drop had resulted in a drop in pre-tax profit of up to $800 million. Earlier this year, GM said its 2018 profits would be flat compared with 2017, but expected its all-new pickup trucks would boost margins starting in 2019. On Thursday, GM reiterated its full-year 2018 forecast for adjusted earnings in a range from $6.30 to $6.60 per share. The automaker said capital expenditures were more than $500 million higher in the quarter because of investments its new pickup trucks and a family of low-cost vehicles under development with Chinese partner SAIC Motor Corp. On Wednesday, rival Ford said it would stop investing in most traditional passenger sedans in North America. CFO Stevens told reporters on Thursday that GM has "already indicated that we will make significantly lower investments on a go-forward basis" in sedans. 2019 GMC Sierra View 21 Photos GM benefited from a lower effective tax rate in the quarter, but adjusted pre-tax margin fell to 7.2 percent from 9.5 percent a year earlier. Stevens said the company's profit margin should hit 10 percent or higher in the second quarter and for the full year. GM said material costs were $700 million higher in the first quarter, and it expects those costs to continue rising. The automaker said it would counter those increases with cost cutting measures. "It is a more difficult environment than it was three or four months ago," Stevens said when asked about rising commodity prices from potential steel and aluminum tariffs announced by the Trump administration. "But we are confident we can continue to offset that." The company reported quarterly net income of $1.05 billion or $1.43 per share, a drop of nearly 60 percent from $2.61 billion or $1.75 per share a year earlier. Analysts had on average expected earnings per share of $1.24.

GM confirms 2015 Silverado, Sierra to get 8-speed automatic

When viewed alongside the next Ford F-150 and the Ram 1500, there is one thing that seems to be missing from the Chevrolet Silverado and GMC Sierra. Where the F-150 will rely on turbocharging and aluminum architecture and the Ram sports an eight-speed automatic and an air suspension, the General Motors twins lack a big, calling-card feature. They're very good, very refined trucks, but one could argue that they're not terribly innovative.
And while it might not be as flashy a feature as air suspension or a lightweight skin, the Silverado and Sierra will get their own eight-speed automatic for 2015, a transmission that will be paired with the company's Ecotec3 6.2-liter V8. The new cogswapper will also find its way into the GMC Yukon Denali, but for now, there's no indication why the Cadillac Escalade, Suburban, Tahoe and standard Yukon are being left out.
According to GM, the new gearbox is about the same size and weight as the current Hydra-Matic 6L80 six-speed. By the time the new powertrain combination enters production late this year, the EPA will almost certainly have gotten around to certifying the vehicles' fuel efficiency. Until then, feel free to speculate. The current Silverado with the 6.2 and six-speed auto returns 14 miles per gallon in the city and 20 on the highway. How much do you think the eight-speed will improve those figures? Scroll down for the official press blast from General Motors, and then head into Comments.