General Motors is well-positioned to clean up in the pickup truck segment, as outlined by the President of GM North America, Barry Engle. Engle spoke at the recent GM Capital Markets Day event, where he addressed expectations for the latest GM truck models.
“We expect continued truck share gains in 2020 given a full year of production across the entire model range of our all-new trucks,” Engle said during his presentation.
As we covered previously, the GM trucks lineup recently completed its launch cadence, with the low-cost, Regular Cab entry-level trims of the Chevrolet Silverado and GMC Sierra HD pickups launching in Q4 of 2019. As Engle points out, 2019 was essentially a transitional year for the Silverado and Sierra, as production of the light-duty pickups launched in the first half of the year and the HD trucks ramped up production afterwards, limiting overall availability.
Looking over GM’s business performance in 2019, Chevy and GMC full-size pickups were the main drivers, with 802,295 pickups sold, and combined retail market share growing almost a full percentage point.
Full-Size Pickup Truck Sales - Q4 2019 - USA
|MODEL||Q4 19 / Q4 18||Q4 19||Q4 18||Q4 19 SHARE||Q4 18 SHARE||YTD 19 / YTD 18||YTD 19||YTD 18|
|RAM RAM PICKUP||+6.93%||172,579||161,397||26%||24%||+18.01%||633,694||536,980|
Now, however, with the full-size GM trucks lineup complete, GM looks poised to benefit from a full year of sales for this highly profitable vehicle lineup.
Late last month, we posted a story highlighting GM’s impressive 41 percent retail market share for the Chevrolet Silverado and GMC Sierra in the first month of the year. That’s a sizable jump from the annual figures posted in 2018 and 2019, which come to 35.6 percent and 36.6 percent, respectively.
It’s also worth noting that full-size pickups account for roughly half of GM North America’s earnings.