General Motors Basking in Chevrolet Colorado/GMC Canyon Success
Midsize Pickups Achieving High Conquest Sales From Other Brands
General Motors is justifiably proud of the Chevrolet Colorado and GMC Canyon midsize pickups, according to Automotive News. The outlet reported that Chevrolet and GMC have seen runaway sales success with their newest midsize pickups, which many in the industry thought were a significant gamble for GM. Ford and Ram have abandoned the segment, citing negligible efficiency and pricing advantages over their base-model fullsize trucks, and many thought that GM’s midsize pickups would either flop or cannibalize sales from its fullsize fleet.
However, in spite of the skepticism, GM executives have good reason to celebrate, as the Colorado and Canyon have sold about 95,000 units in their first year of sales. Additionally, according to Automotive News, 2015 Colorado customers’ key demographics have become more attractive compared to those of the 2012 Colorado, with a lower average age, higher percentage of buyers under 35, and a higher median household income.
Additionally, conquest sales are extremely high, with 56 percent of Canyon owners coming from another brand and 50 percent of Colorado owners defecting (primarily from Toyota Tacoma and Ford F-150 pickups, according to GM). And as we’ve seen, both the GMC Sierra and Chevrolet Silverado have seen consistent year-over-year sales increases for quite some time, putting to rest the fear that the midsize pickups would just siphon sales away from their big brothers. And finally, Automotive News reports that 40 percent of Colorado owners equip their vehicles with dealer-installed accessories like bike racks and cargo management systems, which increase dealer profits.
It must be noted that the Tacoma is still the sales leader in the midsize pickup segment, and its numbers may continue to increase with the release of the new-for-2016 Tacoma. However, with class-leading efficiency and capability ratings, very comfortable interiors, and excellent driving manners (not to mention bean counter–pleasing sales figures), it’s clear that GM has every right to be happy with its Colorado/Canyon midsizers.
Source: Automotive News