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Despite strong profits, GM still fighting flat market share

Looking at the progress General Motors has made since it entered bankruptcy, it's easy to forget that the company still has a long way to go before it's the juggernaut it once was. A recent report from Reuters points out that, while GM is making money, it isn't making any gains in terms of US market share. Quite the opposite, really. Consider this factoid: In 1963, nearly half of the cars sold in the United States were from Chevrolet, Cadillac, Buick, GMC or Pontiac. Now, the company's US market share is stagnant at 17.9 percent. That same number is half of just Chevy's 1963 market share. This is all despite GM going on a binge replacing or updating its models. "Market share increases are not instantaneous," Mark Reuss told Reuters at the 2014 Detroit Auto Show. "We've got a lot of baggage. Don't underestimate what people though of us, or these brands, through these hardships and 30 years." The reasons for the stagnant market share are numerous. Reuters points out that retooling of factories and a focus on limiting incentives are both good things for profit, but not necessarily for market share. There's also the troubling turnover of the brand's marketing department. These issues don't change the fact that Chevrolet has lost 1.4 percent of its market share in two years, and that Cadillac - arguably GM's most improved brand overall - has lost 1.2 percent in the same period. Part of that can be blamed on GM's avoidance of fleet sales in favor of more profitable customer sales. "Our focus has really been on retail and that's where we've got the growth," said Alan Batey, GM's interim global marketing boss. "We want to grow GM and that means growing market share and profits, but it's not at all costs," Reuss said. News Source: ReutersImage Credit: paul bica - Flickr CC 2.0 Earnings/Financials Buick Cadillac GM GMC sales profits

2023 GMC Sierra HD MSRP up at least $1,000

Once Chevrolet bumped up the 2023 Silverado and Silverado HD MSRPs by $1,000, there was no reason to think luxury cousin GMC wouldn't do the same. The proof is here, pricing for the 2023 GMC Sierra HD up on its configurator with premiums of at least $1,000 over 2022 models. As we mentioned of the Silverado, the Sierras have also tracked with the price increases we mentioned in reference to the Chevrolets; the 2022 Sierra 1500 has run up $4,700 over its cost last October, the 2022 Sierra HD is $4,100 more than it was when it hit lots last summer. That puts a 2023 Sierra HD 2500 Regular Cab long bed with two-wheel drive and the 6.6-liter V8 gas engine at a starting price of $42,995 after the $1,795 destination charge, $1,000 beyond the 2022 pickup. At the top, a Crew Cab long bed Denali with four-wheel drive and the 6.6-liter Duramax V8 starts at $83,845, which is $1,250 more than the same rig from the 2022 model year. Moving up a weight class to the Sierra 3500, the price of entry starts $1,000 more than before at $44,195. The big bad boy 3500 Denali 4WD dually starts $1,200 more than before, at $86,245. The situation's a bit cloudier when we step down two classes to the 1500. GM Authority got the price sheet for the 2023 Sierra 1500 and reports that prices are up $1,000 on most trims, but $900 up on the Denali Ultimate and $1,900 up on the AT4. GMC hasn't uploaded the configurator for the 2023 trucks yet, and GMA's price sheet is hard to parse against prices on the 2022 configurator because the end of the model year and supply chain issues have translated into mandatory discounts that can't be accounted for. For instance, the 2022 Sierra 1500 Regular Cab standard box in entry-level Pro trim has an MSRP of $40,000, yet the configurator shows the total vehicle and options price as $39,950. After the $1,795 destination charge, that comes to $41,745. Then there's a mandatory package discount of $1,500, taking the final price before any other fees to $40,245. Meanwhile, GMA's paperwork shows the 2023 price starting at $40,020 after destination, which isn't $1,000 more than any figure on the configurator. At the top end, the 2022 Denali with the Crew Cab, standard box, 4WD, and 6.2-liter V8 comes out to $71,695, only because the front and rear park assist and steering column lock aren't fitted, resulting in a $100 discount.

GMC Hummer EV range is 329 miles; deliveries in December

It'll be a very Hummer Christmas for some households, as General Motors says it will begin deliveries of the electric GMC Hummer pickup in December, according to GMC boss Duncan Aldred. And we now know the truck's EPA range number: 329 miles on a charge. GM had previously predicted the Hummer would achieve a range of 350 miles.  That 329-mile figure applies to the Hummer Edition 1, the top-of-the-line, $100,000-plus iteration that will be the first trucks off the line. The Edition 1 will also tow up to 7,500 pounds and carry up to 1,300 pounds. Aldred told reporters on a conference call that subsequent, less-pricey models will achieve longer ranges and will be along in 2023. GMC HUMMER EV View 7 Photos More than 80% of Hummer reservations are for the Edition 1, though. Aldred said almost half of the 125,000 people who have expressed interest in the Hummer have put down $100 to reserve one. GM has said the first year of Hummer production is sold out. The Hummer EV joins the Rivian R1T as the first electric pickups to market. Ford's F-150 Lightning rolls out in 2022, and other electrics from Detroit and startups are expected to roll out after that. Tesla is building a $1 billion facility in Austin, Texas, that will, among other things, build the Cybertruck, though timelines on that have come and gone. The Hummer, by contrast, was developed in just 18 months. It made a big splash last week when President Biden took the wheel during a tour of GM's Factory Zero assembly plant in Hamtramck, Mich. Biden gleefully demonstrated the acceleration of the four-ton, 1,000-horsepower truck, which is said to do 0-to-60 in 3.1 seconds. He then declared, "This sucker's something else." Next up for GM's EV push will be the Cadillac Lyriq SUV in 2022. The electric Chevy Silverado and GMC Sierra pickups will be revealed Jan. 5. And the SUV version of the Hummer will be introduced in 2023. Aldred expects the SUV to ultimately make up the majority of Hummer sales. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.