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2020 GMC Sierra HD pricing announced

Just as with its Chevy twin, pricing for the 2020 GMC Sierra HD has been revealed. Unlike the Chevy, though, prices haven't dropped across the board. The ultimate base prices for the 2500 HD and 3500 HD are technically less than the 2019 models at $37,195 and $38,395 respectively, but that's because those are the reintroduced regular cab models. Matching up the body styles of the last year's cheapest Sierras with their new equivalents, and the prices have crept up a few hundred dollars. But the next highest trim level, SLE, drops in price by nearly $2,000 between equivalent trucks. Equivalent SLT trucks are up nearly $2,000 each, though, and the base Denalis have gone up by about $7,000. This is due in part to the 2020 Sierra Denali no longer being offered with two-wheel drive. Comparing the old and new four-wheel drive models, the price is still up by about $4,000. While the new Sierra HD is only more affordable than the last one in certain circumstances, they all feature more capability. The standard 6.0-liter gas-powered V8 makes an extra 41 horsepower and 84 pound-feet of torque than the old one for a total of 401 horsepower and 464 pound-feet of torque. The 6.6-liter diesel V8 still makes 445 horsepower and 910 pound-feet of torque, but it now gets a 10-speed automatic transmission. Maximum fifth-wheel towing has increased, too. For the 2500, that number jumps from 15,400 pounds to 18,500 in the new model. For the 3500, fifth-wheel towing goes from 23,100 pounds to 35,500 pounds for the new truck. And of course, you can get GMC's fancy MultiPro tailgate on the new Sierra HD. One final note on the Sierra HD's pricing: it has the highest base price of the full-size heavy duty trucks. The Ford F-250 Super Duty is the cheapest at $34,745 and is closely followed by the Ram 2500 at $35,090. The full range of GMC Sierra HD pricing is listed below: Sierra 2500 HD Regular Cab Sierra: $37,195 SLE: $41,595 Double Cab Sierra: $39,795 SLE: $43,595 SLT: $52,195 Crew Cab Sierra: $41,595 SLE: $45,395 SLT: $53,995 AT4: $59,295 Denali: $65,295 Sierra 3500 HD Regular Cab Sierra: $38,395 SLE: $42,795 Double Cab Sierra: $41,195 SLE: $44,995 Crew Cab Sierra: $42,795 SLE: $46,595 SLT: $55,195 AT4: $60,495 Denali: $66,495 Update: The estimation of price difference between 2019 and 2020 Sierra Denalis has been corrected. Additional clarification of Denali price changes has also been added.

GM earnings rise 1% as buyers pay more for popular pickups

DETROIT — General Motors said Thursday that higher prices for popular pickup trucks and SUVs helped overcome slowing global sales and profit rose by 1% in the second quarter. The Detroit automaker said it made $2.42 billion, or $1.66 per share, from April through June. Adjusting for restructuring costs, GM made $1.64 per share, blowing by analyst estimates of $1.44. Quarterly revenue fell 2% to $36.06 billion, but still beat estimates. Analysts polled by FactSet expected $35.97 billion. Global sales fell 6% to 1.94 million vehicles led by declines in North America and Asia Pacific, Middle East and Africa. The company says sales in China were weak, and it expects that to continue through the year. In the United States, customers paid an average of $41,461 for a GM vehicle during the quarter, an increase of 2.2%, as buyers went for loaded-out pickups and SUVs, according to the Edmunds.com auto pricing site. The U.S. is GM's most profitable market. Chief Financial Officer Dhivya Suryadevara said she expects the strong pricing to continue, especially as GM rolls out a diesel pickup and new heavy-duty trucks in the second half of the year. "We think the fundamentals do remain strong, especially in the truck market," she said, adding that strength in the overall economy and aging trucks now on the road should help keep the trend going. Light trucks accounted for 83.1% of GM's sales in the quarter, and pickup truck sales rose 8.5% as GM transitioned to new models of the Chevrolet Silverado and GMC Sierra, according to Edmunds, which provides content to The Associated Press. As usual, GM made most of its money in North America, reporting $3 billion in pretax earnings. International operations including China broke even, while the company spent $300 million on its GM Cruise automated vehicle unit. Its financial arm made $500 million in pretax income. Suryadevara said GM saw $700 million in savings during the quarter from restructuring actions announced late last year that included cutting about 8,000 white-collar workers through layoffs, buyouts and early retirements. The company also announced plans to close five North American factories, shedding another 6,000 jobs. About 3,000 factory workers in the U.S. whose jobs were eliminated at four plants will be placed at other factories, but they could have to relocate. GM expects the restructuring to generate $2 billion to $2.5 billion in annual cost savings by the end of this year.

GM might lose 90-year U.S. sales crown over chip shortage

Automotive News editor Nick Bunkley tweeted on October 1 that according to AutoNews data, General Motors "has been the largest seller of vehicles in the U.S. every year since passing Ford in 1931." With automakers having turned in light car and truck sales data for the first three quarters of 2021, GM's 90-year-run might not reach 91. According to AN figures, Toyota was 80,401 vehicles ahead when the October workday started. Worse, GM is so far behind its historic pace that it might only sell enough light vehicles in the U.S. to match its numbers from 1958.  Meanwhile, the New York Times put a few more salient numbers to the pain GM and Toyota are enduring alongside the the rest of the industry. GM sold 33% fewer cars in Q3 2021 than it did in Q3 2019 during the dark days of the pandemic, 446,997 units this year as opposed to 665,192 last year. GM's Q3 2020 was only down 13% on Q3 2019. Over at Toyota, the bottom line showed a 1% gain in Q3 2021 compared to 2020, with 566,005 units moved off dealer lots. The finer numbers show two steps forward and one step back, though; Toyota's September sales were down 22% compared to last year.  GM remains optimistic about what's ahead, GM's president of North American operations telling the NYT, "We look forward to a more stable operating environment through the fall." We'd like to see that happen, but we don't know how it happens. The chip shortage said to have been the inciting incident for the current woes isn't over, and not only can no one agree when it will be over, the automakers, chip producers, and U.S. government still can't get on the same page about who needs what and when. Looking away from that for a second shows articles about "No End In Sight" for supply chain disruptions in early September, before China had to start working through power supply constraints, global supply chain workers started warning of a "system collapse," and roughly 500,000 containers sat waiting to be unloaded at Southern California ports — a record number seemingly broken every week. And back to chips, we're told just a few days ago the chip shortage is "worse than we thought."   For now, the NYT wrote that GM dealer inventory is down 40% from June to roughly 129,000 vehicles, and down 84% from the days when dealers would cumulatively keep about 800,000 light vehicles in stock. However, GM just announced it would have almost all of its U.S. facilities back online next week, although some would run at partial capacity.