Pickups and SUVs are among the most profitable vehicles that Detroit sells. They are built on truck platforms and carry relatively high margins.
The problem with pickup sales recently is that high gas prices hurt sales of cars and trucks that use a lot of gas. Sales of most light trucks fell over 15% last year, and the Big Three have not found a solution.
General Motors (NYSE: GM) thinks it may have found a way around the fuel issue -- hybrid pickups. It will offer a new Sierra, one of its larger light trucks, powered by the new technology. "GM says the 2009 GMC Sierra hybrid gets a 25 percent improvement in fuel economy without compromising performance," according to the Associated Press.
If the new truck sells well, GM may be able to step ahead of its rivals with a solution to get consumers back into the SUV market. For its profitability that would be a big deal.
Douglas A. McIntyre is an editor at 247wallst.com.
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