GM Said to Plan $1 Billion Revamp to Overhaul Aging Pick-ups

Bloomberg reports that General Motors Co. will spend as much as $1 billion updating its full- size pickup trucks, according to a person familiar with the situation. The company will change designs and make crash-protection improvements, said the person, who declined to be identified because the budget is confidential. The Wall Street Journal reported the figure earlier.

GM has approved plans to revamp its Chevrolet Silverado and GMC Sierra trucks, including interior and design changes, spokesman Scott Fosgard said in Detroit late yesterday. He declined to comment on how much the program would cost.

The automaker delayed a redesign of its profitable pickups in its unsuccessful effort to avoid bankruptcy because of the costs involved in retooling plants for new models. The automaker’s current range of pick-ups hasn’t been updated since the 2006 model year, making them the oldest truck designs in production in the U.S.