As the Coronavirus pandemic continues to negatively impact the world, sending businesses to temporarily shut down, halting auto production, workers to stop working, and stocks tumbling down a steep ravine, there is one glimmer of positivity – Chevrolet Silverado sales in one particular market – Mexico.
In February 2020, Silverado sales jumped 282 percent in Mexico, according to sales data analyzed by GM Authority. In addition, sales of the bread-and-butter pickup truck jumped 225 percent during the first two months of the 2020 calendar year. Both results represent the truck’s best performance in recent years in the Mexican market.
To explain the jump, we should first review how Chevrolet markets the Silverado in Mexico. The truck is available in two separate nameplates – the Silverado, which is the American-market Silverado Work Truck, and the Cheyenne – which consists of all the other trim levels except for the Silverado Work Truck. The Silverado is only available in light duty guise, while the Cheyenne is available in 1500, 2500 and 3500 models. In February, both the Cheyenne and Silverado 1500 contributed to the substantial sales leap.
In February, the Cheyenne saw 257 deliveries while the Silverado 1500 saw 393 sales. The Heavy Duty did not post any sales in February, since units of the all-new 2020 Silverado HD model have yet to reach the Mexican market. Overall, Silverado sales in Mexico jumped 282 percent to 650 units in February 2020.
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While the sales figure is not as substantial as the thousands of Silverado units GM sells in the United States, it does represent incremental sales and revenue the automaker would not have generated otherwise. In fact, assuming an average transaction price of $30,000 USD, GM pulled in $19.5 million from its Silverado business alone during February in Mexico.
However, with GM stopping production over the Coronavirus outbreak, March and April will likely put quite a damper on Cheyenne and Silverado sales in all markets. Even so, it’s nice to know that – despite all the criticism of Chevy’s new truck – it is was flying off dealer lots when availability was plentiful.