GM To Unveil New Pickup Even As It Boosts Deals On Current Model
DETROIT (Reuters) - General Motors Co is gearing up to show off its new full-size pickup trucks this week just as the No. 1 U.S. automaker is boosting incentives on its rising supply of the current models.
GM will unveil the redesigned versions of the Chevrolet Silverado and GMC Sierra in Pontiac on Thursday, but consumers will not be able to start buying the new 2014 models until the second quarter next year.
Until then, they will have to be satisfied with getting a peek at GM's plans, while also having the option to buy the current version.
"It's a huge cash-flow machine and it's the first introduction of this product post bankruptcy and that means something just for the psychology for General Motors," said Guggenheim Securities analyst Matthew Stover, who has a "neutral" rating on GM shares.
The rollout of the new trucks and related SUVs, which analysts say generate profits of $12,000 or more, are critical for GM, which filed for bankruptcy in 2009 and received a $50 billion U.S. taxpayer-funded bailout.
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