Luxury pickup trucks have become a staple market for many automakers, and it’s lent great fortune to General Motors, Ford and Fiat-Chrysler. Specifically, GMC and the Denali sub-brand has become a money-printer for GM.
Have we reached a price ceiling on just how expensive a GMC pickup can be? Apparently, no.
Motor Authority spoke with GMC’s global vice president, Duncan Aldred, and he told the publication in a Monday report that there’s still room for premium truck pricing to grow.
“We haven’t reached the price ceiling or feature ceiling. Customers will pay for premium features,” he said.
The typical GMC vehicle sells for $44,000, which already nips at German luxury brands’ transaction prices. However, Denali models sell for an average of $55,600, which tops Mercedes-Benz, Cadillac, Audi and BMW.
Aldred also told the publication that 60 percent of buyers choose the Ultimate Denali package when shopping the range-topping Denali line of trucks. Last year, 29 percent of all GMC sales were Denali models.
And GMC is capitalizing on a mass-market trend. A February report detailed the shift from luxury cars to luxury trucks is underway, and more GMC dealers are filling their used car lots with pre-owned German luxury cars. Sales figures reflect the momentum, too; in 2012 GMC accounted for just 0.1 percent of domestic sales. Last year, GMC’s share was up to 11.3 percent.