Just when you thought GM was falling behind Toyota in the fight to win over pick-up buyers, the country's largest automaker put up a big sales number for August. Overall, GM's August sales came in better than expected with an increase of 5.3%. But the real surprise was with truck sales jumping 14.9 %.
Why does this matter?
In July, GM's truck sales dropped almost 20%, and the company admitted that it fell asleep at the wheel in winning over buyers with deals to move the wheels. Something Toyota has been doing with greater force over the last couple of months. Now, Toyota's Tundra is nowhere close to catching the Silverado and GMC Sierra, but the Japanese brand pick-up truck is getting more attention. Some of that because of low financing and greater rebates.
So GM answered with greater incentives in August. Not a huge increase, just a few hundred dollars. But enough to stir the pot.
Toyota's truck sales were up 8 % last month, so the competition from the Tundra is not going away. But for GM, the message is clear: Trucks still rule the bottom line, and the company that is number 1 in pick-up sales has no intention of letting sales stall again.
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