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Chevy ramping Silverado incentives after Ram beats it in March

General Motors isn't losing the pickup war without a fight. With the Silverado narrowly falling to third place in the truck segment in March, Chevrolet has announced that it is going to continue its Truck Month pricing through the end of April. In addition to those incentives, some Chevy pickups are going to see even deeper discounts, according to Automotive News.
General Motors Sales Reporting spokesperson Jim Cain says the reason for extending the sale is simple. "It worked," he said. The Silverado's sales were up 6.8 percent for March, which is a big win for a truck with sales down 7.6 percent for the year so far. "Last month we handily beat expectations," he said. Cain attributed the success to having "a simple, straightforward message." He also claimed that the pickup was also able to see growth with lower incentives than competitors. With the weather warming and the economy improving, he thinks the Silverado has the momentum to improve further.
The Truck Month incentives knock as much as $7,541 off some Silverado models, and Chevy is planning even more incentives on top of that in April. "Okay - time to take the gloves off and go back and take back what rightfully belongs to every one of you ... Silverado truck sales," said an email sent to dealers from GM's district manager in the Northeast, received by Automotive News, announcing lower lease rates.

Chrysler recalling nearly 141k vehicles over electrical woes

Software glitches that randomly illuminate warning lights and cause instrument cluster blackouts are forcing Chrysler to recall 140,800 vehicles, The Detroit News reports. The automaker is recalling 132,000 2014 Jeep Grand Cherokees, 91,559 of which are in the US. In addition to the Jeep recalls, Chrysler is adding 10,800 2014 Ram 1500, 2500 and 3500 trucks to the list for similar problems.
Chrysler reportedly says, "Both events occurred infrequently and appeared to resolve themselves by tuning the vehicle's ignition off and then on."
Engineers discovered a problem with the anti-lock-braking system software that causes the instrument cluster display of the Grand Cherokee to illuminate warning lights and black out - even its ABS and electronic stability control systems are affected. To fix the Jeeps, Chrysler will update the vehicle's software.

New auto loans could soon extend out to 84 months

Cars and trucks are more expensive than ever before. In order to boost sales and help consumers afford new vehicles, automakers are offering longer and longer terms for auto loans. This past week, Bloomberg reported that FCA's Ram Trucks division is currently offering the longest loans. Some stretch to 73 months. Jeep, Fiat and Chevy aren't far behind. More noteworthy is that we'll likely soon see lenders moving from 73-month to 84-month loans. That's seven years worth of interest. More than two-thirds of US auto sales come from light trucks like the Ford F-150, Chevy Silverado and Ram 1500. The average transaction price of a new vehicle is well over $30,000. It's not difficult to spec out a heavily-optioned truck up to $60,000. Vehicles depreciate from the moment they roll off a dealer lot, and these six or seven-year loans could hurt consumers and lenders both in the long run. The U.S. Senate voted last week to kill rules that would prevent discriminatory auto lending. These Obama-era guidelines were meant to curtail lenders who offered higher loans based on race, religion, sex or national origin. Related Video: News Source: Bloomberg Chevrolet Fiat RAM Car Buying car loan car values