According to Alec Gutierrez, senior analyst of automotive insights, Kelley Blue Book’s KBB.com, Kelley Blue Book recommends that buyers in need of a new pickup truck head to the dealership before year end to take advantage of the best cash offers available so far this year. Thanks to a current near-150 days supply of Silverado and Sierra, General Motors has sweetened the pot by boosting incentives to try to sell down excess inventory in anticipation of the arrival of its 2014 model-year truck redesign slated to hit dealerships sometime next Spring. As is typically the case, Ford, Chrysler, and the Japanese truck makers have all followed suit by offering equally enticing incentives. GM hopes to see sales outpace production in December, which should also help to reduce excess inventory. Given their current inventory sell-down strategy, we expect to see significant discounts carry into 2013.
While GM is expected to generate new excitement for the pickup truck segment early next year with the arrival of the redesigned 2014 truck lineup, it will only have a one-year head start on Ford which plans to redesign the best-selling F-Series for the 2015 model year. The new F-Series is expected to build upon the already solid gains made by the existing generation of F-Series pickups that have seen a boost in sales, thanks to the introduction of their fuel-efficient EcoBoost six-cylinder engine. Once the redesigned Ford pickup arrives sometime in 2014, incentive spending could heat up once again as the domestic manufacturers fight for industry dominance.
Shoppers who are in need of a pickup should not hesitate to scoop up a great deal on a highly incentivized 2012 model-year truck. For those not quite ready to pull the trigger, there will be new and improved products arriving over the next 12-18 months that may not have the same aggressive cash incentive offers, but could make up for it with better fuel economy, power and standard amenities.