General Motors is pumping up the incentives it’s offering on the Chevrolet Equinox and GMC Terrain crossovers. That might seem odd considering the maker is struggling to keep up with demand for the two CUVs – but the $1,000 givebacks apply only to the slow-selling V-6 versions.
The maker is hoping to convince some buyers to switch in order to ease the shortage of the I-4 Equinox and Terrain models. The $1,000 in cash all but offsets the $1,500 premium for the more powerful – if lower mileage – V-6 options.
As TheDetroitBureau.com reported today, there’s a wholesale shift in the market as motorists downsize the vehicles they pick and the powertrains they opt for. Small cars have gained significant ground in recent months, climbing from 17.9% of the overall U.S. market as recently as December to 23% in February, according to Edmunds.com.
Meanwhile, consumers are rapidly abandoning V-8s for V-6s in big trucks, where available, and shifting from sixes to fours in smaller products, such as the Equinox and Terrain. The overall result is that the fuel economy of the average new car, truck and crossover set an all-time record last month.