GM Hikes Incentives on Pickups

General Motors Corp. increases incentives on its redesigned ’07 Chevrolet Silverado and GMC Sierra pickups to boost sales in the slumping segment.

GM is offering either 0% financing for up to 36 months on the trucks or reduced-rate financing on loans up to 60 months.

Customers also can opt for $1,250 cash back on the Sierra or $1,500 on the Silverado in lieu of the finance offer.

The additional spiffs come as the fullsize pickup segment is mired in a slump, due in part to a weak housing market, rising gasoline prices and increased competition in the marketplace.

The weakness of the segment has prompted many of GM’s competitors to increase incentives on their fullsize pickups, as well.

“This is in response to competitive incentive offerings in the marketplace,” a GM spokesman tells Reuters. “Everyone out there has big incentives on their pickups; there is a lot of pressure in the segment.”

GM’s truck incentives kicked off May 4 and will run through July 9.