General Motors announced its latest earnings report for the first quarter today and also tossed in a few new nuggets of information. Specifically, the automaker is very pleased about the 2019 Chevrolet Silverado and 2019 GMC Sierra‘s average transaction prices.
According to the automaker, ATPs for the new crew-cab models (the models Chevrolet and GMC launched with) are up $5,800 over the previous-generation pickups. An extra $5,800 means GM is sitting quite pretty for nearly every Silverado and Sierra it sells. It may also be a minor jab at Fiat Chrysler and its Ram division, which swiped second place in the sales race away from the Silverado so far this year.
While Ram dishes out incentives and cash-back offers, GM has been restrained in its “money on the hood” kind of deals for its new pickups thus far. Combined with the fact buyers themselves are spending more one each truck, it’s not a bad place to be for GM.
GM added GMC leads the way, unsurprisingly. A whopping 95 percent of 2019 Sierra models sold have been “high-end models.” We have to assume “high-end” refers to Denali or more premium trims, but the automaker did not provide a specific breakdown in the announcement.
While crew cab pickups have been the only variants at dealerships, GM said it started production of double-cab and regular-cab pickups in March as it planned. GM’s entire strategy was focused on bringing the most popular pickups to market first—trucks with V8 engines and four doors.
In the grand scheme of things, trucks, SUVs, and crossovers pushed profits at GM in the first quarter. The automaker said it delivered 665,000 new vehicles this past quarter. Unsurprisingly, the sales mix for utility vehicles was incredibly high. Trucks, SUVs, and crossovers made up 80 percent of the sales mix. The Trax, Equinox, and Colorado set new first-quarter sales records, while the GMC Acadia posted its best quarter ever.
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Comments
Aren’t most crew cab 2019 the higher trim levels? ATPs will be diluted once Custom, LT, and WT trucks start populating dealerships in higher numbers
while Ram has historically offered heavy discounts. they have also recogonized the soaring truck prices and have adjusted their lineup to provide nicely featured trucks for a more reasonable price.
GM is too, but they just haven’t ramped up to provide these products yet. One unfortunate sacrifice for GM trucks though, is the styling of the base trims.
We noticed. The payments are like a second mortgage.
Well, no one is beiing held at gun point. If they want it, they buy it.
GM is doing a great job of forcing buyers up trim levels. The Custom Trail Boss is easily $35-40k yet it only comes with cheap halogen headlights, the DIC on the instrument panel looks like it’s from a GMT900, and the touchscreen is the older Mylink. Oh and the 40/20/40 center armrest has no option for a storage bin. That’s a new low in terms of cost cutting considering the K2 trucks even had a center storage bin option. Guys have disassembled the seatback and found that it’s indeed designed to have a storage bin, GM simply removed it. At that point I had to double check to see if GM replaced the CTB’s rear disk brakes with old drums too.
I simply didn’t buy one. GM wanted me to buy into new technology and features that I didn’t need, so i found a way around it.
I looked at both the new SIlverado 1500, and the “old” 1500 LD. I chose the LD because I didn’t want the keyless start, I didn’t like the feeling of the brake pedal, I didn’t like the electronic parking brake, and while the mirrors were quite an improvement, the overall visibility SUCKED!!
I also didn’t like that the truck was made in Canada, so I went as far as to find a left over, American made ’18.
AND I COULDN’T BE HAPPIER!!! 🙂
Yea Canada is worse than Mexico. Can’t trust a country that is that well received globally.
Well received globally? Try again. They are a laughingstock except for echo chambers in europe.
Those damn canooks, with their “eh’s” and maple syrup and being the onto their feet to help during 9/11 and the shared 400 years of history.
Help during 9/11? U will need to explain that
Canadians were the first on their feet following 9/11. Canada was the first foreign nation to supply aid, doctors, rescue and recovery teams, and equipment. Planes that were forbidden to land in the US were diverted to Canada, where families opened their doors and brought American strangers into their homes to stay. They even made a musical stage-play about the ordeal (Come From Away).
I don’t blindly hate Americans. I did when I was a teenager, but I know them better now and I have a better understanding of how they operate. Time does things like that, and in the same span of time I’ve even befriended a few.
Canada may not have suffered on 9/11, but we bled just the same. That’s why we helped.
@Grawdaddy
Thank you for that info. I really didn’t realize that (or maybe just forgot?), but that was nice to read. I have no clue why @Andrew said what he did.
@Megeebee:
Although that is very true, the problem lies more with the people who actually NEED a truck: framers, ranchers, construction workers/companies, etc. I recall wayyyyyyy back in 1978 when my dad (farmer in IL) purchased the first 4×4 Chevy truck in the area. He and the rest of the farmers all used 2×4 trucks till then. But with farm work, snow and a real need for a true 4×4 truck, he bet the farm and plunked down about $12,000 for this brand new truck!!! lol. I remember being amazed that it had an AM/FM radio!
Now here we are today with trucks that “start” more around $30,000 for the more basic ones and can reach into the $70,000+ range easily. So for those who purchase trucks because it’s the “in” thing or just because they like them, you are 100% correct. For the rest who need to buy for work/needs, they have little choice it seems.
Mary must be jumping up and down on her bouncy ball. Triple zero here we come
It’s all planned to get money from buyer, not give buyer a choice. Well played.
If you want a Truck but don’t have big bucks go somewhere else.Great plan there GM.
Guess my 2016 Sierra will be my last GMC, because, Miss Mary, you have gotten too greedy and priced them way beyond my means (and many other truck buyers, too). Priced way too high to have such a cheap interior and inferior infotainment system. My 2016 was my eighth GMC, so I have obviously liked the product. Ford and Dodge are now on my radar, which is a first, and something I never thought I would be forced to say.
I have owned GM products. Since 1989 but as they reward others to buy GM and ignore our loyalty I too have a RAM on my radar and never thought there would be a possibility of that, price features and feedback on GM and RAM has GM trailing. Glad I am into in a need to buy position and have time to see if GM kicks in a loyalty offer to keep us.
Gleefully purchased a Toyota Tundra in 2017 after several years of dealing with known GM issues on my suburban and Silverado…I wouldn’t buy a Dodge or Ford either after seeing how cheaply they’re made and how poorly they hold up in the oil field. I’ll take the Tundra any day of the week!
Tundra is not even close to the big three when it comes to trucks. Keep telling yourself what you want just to make yourself feel better about the purchase of that turd.
I had a 2010 Tundra. Biggest POS I’ve owned since my 96 Dodge Ram 1500. For being a Toyota, the “quality” was beyond underwhelming. I was Very hyped about the Tundra when I bought it. I was was in love with the 5.7 V8 and 4.30 axle ratio. But after buying one I was heartbroken. The 5.7 developed piston slap. It needed a new reear main seal by 10k miles. Rear diff failed at 45k miles because of the utter lack of quality standards for Toyota’s Hino axles. The rear wheel bearings failed twice before 100k miles. The bed and tailgate had constant rust issues especially around the wheel wells. The transmission was as bad as my old Ram’s trans and the fuel economy wasn’t much different. Even the frame rot was worse on the Tundra Toyota simply sucks at making fullsize trucks. Total failures in that market.
Like I said, I’ve had extensive experience with the “big 3” over there past 20 years… Toyota all the way. GM has had the same pcm issues since 1999, never addressed. Just lazy. I just replaced the master cylinder clutch assembly on a 2000 Silverado for the second time because it is plastic–the entire pedal, interface with the firewall, etc…. Talk about stupid engineering. When I say I, I’m not talking about hitting a mechanic. GM is junk, brought to you by Mexico, as is Ford. I’m glad to support Toyota, from Texas. Dodge… No help there at all no matter who slaps that hot mess together, with their ongoing transmission issues and wheels flying off as you’re driving–again, keep that turd! Ford with the beer can frame–y’all keep drinking that Kool aid!
@Cricket. Which Toyota dealer do you work for? They would be the only ones defending those turds other than maybe just a totally hardcore Toyota fanboy.
How many of the week frames on Toyota trucks bend? When I was at the dealer where we sold GMC’s, they did a training video of GM taking a Ram, F150, Silverado, Sierra and the Tundra and doing the exact same tests on all the trucks. This was a great sample of tests that duplicated real world situations in which real truck drivers use the trucks. I’m not talking about someone with a 200 lbs topper over the bed who “hauls” a surf board or a lawn mower and a couple tools. I’m talking about real truck work and doing things that these real trucks actually do. The Tundra was the first to fail in almost everything and the biggest take away was when they lifted every truck up by the corners until each truck had all four tires suspended off the ground. The Toyota’s frame bent! And that was a brand new truck before those week frames rotted out.
No thanks. I’ll walk before you ever find me in a Toyota.
I have noticed at work that several shop teachers that switched over to Tundra’s back in the early 2010-2012 era switched back to Silverado’s Rams and F-150’s for their current rides. I know the owner of the 2010 Tundra had a lot of rust around the rear bumper and paint was flaking right off the rear bed sides after only 5 years of use. Another owner blew the rear end and transmission right out of warranty and Toyota refused to cover it and another needed a replaced frame but that may have been a 2007- 2008 version. Toyota is not what it used to be
I’m hoping their used/resale value drops pretty quickly. I currently drive an 04 Silverado and my plan is to stick with the 03-06’s until I can afford a Silverado from the 16-18 generation. If the price is gonna be this stupidly high for more than 5-10 years I’m gonna be stuck as the old trucks fall apart with time.