Trucks produce large profits for automakers, especially the Detroit automakers. The truck market has been badly hurt with the economic downturn, especially since the housing market is dead. But it will come back, which explains why GM is going to spend $1 billon bucks on redesigning its Chevy Silverado and GMC Sierra pickups.
Chairman and Chief Executive Edward Whitacre recently approved the project. GM is betting big that the full-size truck market will eventually come back strong. The Chevy SIlverado and GMC Sierra are currently the oldest trucks out of the Detroit automakers, even though they were redone in 2006.
The current plan would bring GM’s new trucks to market between 2012 and 2013.
Full Story: Wall Street Journal