The 2016 Chevrolet Colorado and 2016 GMC Canyon continue to be an unfolding success story for both brands, and parent company, General Motors. After both trucks left for greener pastures in 2012, 2015 saw their return with a completely refocused target market, and aggressive content strategy.
Automotive News highlights this success story, showing industry analysts now praising the gamble GM took with its midsize pickups.
“Everyone thought that the Colorado might eat into Silverado sales,” IHS analyst Tom Libby said. “That hasn’t happened.”
The Silverado and Sierra twins make big money for GM, but neither the Colorado or Canyon have cannibalized their full-size brethren. In fact, the midsize trucks have swayed more Ford F-150 and Toyota Tacoma buyers than either brand initially expected. The conquest rate sits at a massive 56-percent for the GMC Canyon, and nearly 50-percent for the Chevy Colorado.
Other noteworthy factoids paint a clear picture. GM’s strategy has been a roaring success.
- Average transaction prices top once-segment leaders by thousands of dollars.
- Accessories continue to grow dealer and GM profits, with 40-percent of Colorados outfitted with bike racks and other gear.
- Both trucks have experienced substantial growth in California, typically a tough sell for GM.
The growth in California is intriguing, and shows the success of Colorado and Canyon’s marketing strategy. GM took a more “lifestyle” approach, appealing to outdoor enthusiasts and a more active demographic. The numbers don’t lie: it’s working. The average age of a Colorado buyer has dropped five years, and 10-percent of buyers are under the age of 35. 40-percent of them hold college degrees.
GM isn’t slowing down, either. It seems with each passing auto show, a new special edition of trim package is unveiled, subsequently hitting refresh over and over to create continued excitement in the marketplace. Simply put, the Colorado and Canyon twins are one hefty portion of a winning chicken dinner.