Chevrolet formally announced the initial pricing, data, and EPA fuel efficiency estimates for the 2014 Silverado 1500 today.

The new model will be sold for a "suggested" base price of $24,585 including a $995 destination freight charge. The base price is the same price GM sold the 2013 model for.

"In creating the 2014 Silverado 1500, we looked at a wide variety of powertrain configurations, and concluded that large-displacement truck engines could best provide the payload and towing capability that truck customers require, with the long-term dependability they expect," said Luke in the company release.

Improvements for the 2014 model include a six-speed automatic transmission, an all-new interior and new bed with box rail protectors. A six-speed automatic transmission and more fuel-efficent EcoTec3 engine is also standard for the new model.

"Silverado's available 5.3-liter EcoTec3 V-8 gives customers the best of both worlds," said Jeff Luke, executive chief engineer for Silverado in a company press release. "Customers get the proven power and dependability of a V-8 truck engine, with better fuel economy than a leading competitor's smaller turbocharged V-6."

Click here to read about the expected fuel-economy numbers for the new Silverado.

All buyers of the 2014 model will receive a standard scheduled maintenance program for up to two years or 24,000 miles, whichever comes first according to the GM press release. Approximately four maintenance visits are also included.

 "Silverado's EcoTec3 technology eliminates the fuel economy penalty that often goes with rugged, high-torque truck engines," said Luke in the release. "With our EcoTec3 engines, truck customers don't have to do more with less more work with smaller engines. They can keep the benefits of a larger displacement engine and still get better fuel efficiency."

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