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Coronavirus shakes up America's truck market: GM outselling Ford and Ram

FCA, Ford and General Motors joined the rest of the U.S. auto industry in taking heavy volume hits due to coronavirus-related shortages of both cars and customers. The saying goes that a rising tide lifts all boats; it stands to reason, then, that a falling one would have the opposite effect.  However, as we learned Thursday, the automotive market can behave in unpredictable ways. While the F-Series remained the best-selling nameplate in Q1, GM's full-size trucks are now outselling Ford's again for the first time in years, and with this upward thrust from the General, FCA's Ram was unceremoniously booted out of a hard-earned second place.  While late-March sales declines hit just about every major automaker in one way or another, the model-by-model results weren't nearly so uniform. And because the market tends to be a zero-sum game, for every winner, there generally has to be a loser.  In this case, that winner was GM, and its rise had to come at the expense of another automaker, in this case, Ford. F-Series sales dropped 13.1 percent in the first quarter of 2020, while sales of GM's full-sized Silverado and Sierra surged nearly 28% in the same period. FCA's Ram lineup managed a steady-as-she-goes 7% increase. All-in, GM finished the quarter with 197,743 full-size trucks sold to Ford's 186,562. Here's the full breakdown: Ford F-Series: 186,562  Chevrolet Silverado*: 144,734 Ram P/U: 128,805 GMC Sierra: 53,009 *includes 1,036 Medium Duty sales Things are a but murkier in the midsize segment, where the Chevy Colorado slipped 36% to just 21,430 units sold — just a few hundred better than the slow-selling Ford Ranger's Q1 numbers. The GMC Canyon experienced an almost identical slide, finishing the quarter with just 4,483 units sold. For perspective, Jeep sold more than 15,000 Gladiators and Toyota's midsize Tacoma slipped less than 8%, finishing the quarter with nearly 54,000 sales.  We suspect this discrepancy in full- and mid-size truck sales comes from shifting incentives. Ford, GM and FCA would like to keep selling bigger trucks because there's far more profit margin built into their list prices. Even with tens of thousands of dollars in manufacturer money on the hood, big trucks still make money.  Since these automakers report quarterly, we won't get another good look at these numbers until July, but if you thought that 2019 represented the new normal for U.S. auto sales, well, think again.

2021 GMC Yukon starts at $51,955, just $100 more than outgoing model

The 2021 GMC Yukon and Yukon XL have prices, and they're bargains considering the upgrades the new model delivers. The base Yukon SLE starts at $51,995 after the $1,295 destination charge, a $100 premium over the current model. The extended wheelbase Yukon XL in base SLE trim starts at $54,695, the same price as the outgoing model. The price for all-wheel drive stands pat for trims that make it an option, at $3,000. Prices for the two-wheel drive Yukon and Yukon XL trim steps are below, with price differences compared to the 2020 models. Keep mind that the new AT4 trim comes standard with AWD, so the AT4 is in a sense closer in price to the SLT and further from the Denali than it appears here: Yukon SLE: $51,995 (+ $100) Yukon SLT: $59,095 (- $810) Yukon AT4: $66,095  Yukon Denali: $69,695 (+ $800) Yukon XL SLE: $54,695 (No change) Yukon XL SLT: $61,795 (No change) Yukon XL AT4: $68,795 Yukon XL Denali: $72,395 (+ $600) The drop in price on the Yukon SLT is in comparison to the 2020 Yukon SLT Standard Edition trim, not the lower-spec SLT trim. The new Yukon comes in at $1,700 more than the 2021 Chevrolet Tahoe, the same price difference in effect between the Yukon XL and Suburban. The standard Yukon is powered by a 5.3-liter V8 with 355 horsepower and 383 pound-feet of torque, the same specs as found in both the Tahoe and Suburban. The Yukon Denali trims, as with the High Country trims on the Chevy twins, outdo the 5.3-liter with a 6.2-liter V8 making 420 hp and 460 lb-ft. Both engines shift through a 10-speed automatic. Stuffing a Yukon XL Denali with options can take the MSRP beyond $80,000, thanks to available features like the panoramic sunroof, rear seat entertainment, air suspension, and Magnetic Ride Control Suspension.   We're still awaiting pricing for the coming 3.0-liter Duramax inline-six with 460 pound-feet of torque, which we expect closer to the on-sale date for the new full-sized SUVs.  Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Bronco, Yukon, Hummer and a CES recap | Autoblog Podcast #610

The UAW's 'record contract' hinges on pensions, battery plants

DETROIT - After nearly four weeks of disruptive strikes and hard bargaining, the United Auto Workers and the Detroit Three automakers have edged closer to a deal that could offer record-setting wage gains for nearly 150,000 U.S. workers. General Motors, Ford Motor and Chrysler parent Stellantis have all agreed to raise base wages by between 20% and 23% over a four-year deal, according to union and company statements. Ford and Stellantis have agreed to reinstate cost-of-living adjustments, or COLA. The companies have offered to boost pay for temporary workers and give them a faster path to full-time, full-wage status. All three have proposed slashing the time it takes a new hire to get to the top UAW pay rate. The progress in contract talks follows the first-ever simultaneous strike by the UAW against Detroit's Big Three automakers. The union began the strike on Sept. 15 in hopes of forcing a better deal from each major automaker. But coming close to a deal is not the same thing as reaching a deal. Big obstacles remain on at least two major UAW demands: restoring the retirement security provided by pre-2007 defined benefit pension plans, and covering present and future joint- venture electric vehicle battery plants under the union's master contracts with the automakers. On retirement, none of the automakers has agreed to restore pre-2007 defined-benefit pension plans for workers hired after 2007. Doing so could force the automakers to again burden their balance sheets with multibillion-dollar liabilities. GM and the former Chrysler unloaded most of those liabilities in their 2009 bankruptcies. The union and automakers have explored an approach to providing more income security by offering annuities as an investment option in their company-sponsored 401(k) savings plans, people familiar with the discussions said. Stellantis referred to an annuity option as part of a more generous 401(k) proposal on Sept. 22. Annuities or similar instruments could give UAW retirees assurance of fixed, predictable payouts less dependent on stock market ups and downs, experts said. Recent changes in federal law have removed obstacles to including annuities as a feature of corporate 401(k) plans, said Olivia Mitchell, a professor at the University of Pennsylvania Wharton School and an expert on pensions and retirement. "Retirees want a way to be assured they won't run out of money," Mitchell said.