This year has been fraught with challenges and unprecedented circumstances, but through it all, the GM trucks lineup has maintained a steady drumbeat of sales strength. Now, it’s been reported that General Motors’ full-size pickup lineup, which includes the Chevy Silverado and GMC Sierra, led the full-size truck segment with 37.5 percent market share of retail sales during the third quarter of 2020.
The statistic comes from General Motors Q3 2020 earnings report, and is based on data from J.D. Power. As GM Authority covered previously, General Motors reported $4 billion in income on $35.5 billion in revenue.
The 37.5 percent retail market share for the full-size GM trucks lineup was enabled by a 1.7-percent point jump in retail market share – a significant gain, overall. The new numbers show a very favorable and massive result for the automaker. Interestingly, the results coincide with an overall sales volume decrease for the Chevy Silverado during the third quarter of 2020, during which time the GMC Sierra saw an overall sales volume increase.
Full-Size Pickup Truck Sales - Q3 2020 - USA
|MODEL||Q3 20 / Q3 19||Q3 20||Q3 19||Q3 20 SHARE||Q3 19 SHARE||YTD 20 / YTD 19||YTD 20||YTD 19|
|RAM RAM PICKUP||-3.39%||156,157||161,635||25%||25%||-12.73%||402,410||461,115|
Note that the sales figures listed in the table above are cumulative, and include fleet sales. The 37.5 segment share cited is only for retail sales, which are more lucrative than fleet sales.
Per the latest results, the Ford F-Series posted a 35 percent cumulative segment share for Q3 of 2020, while the Ram Pickup posted a 25 percent cumulative segment share during the same time period.
It’s also worth noting that the impressive sales performance of the GM trucks lineup was in spite of tight inventory. Total U.S. sales for the Chevy Silverado during Q3 of 2020 amounted to 147,484 units, while total U.S. sales for the GMC Sierra during the same time period amounted to 67,812 units.
GM says that its Q3 2020 earnings were driven primarily by its agility, as well as strong, growing franchises. What’s more, the automaker also launched its next-generation full-size SUVs and continues its investments into electric vehicle and autonomous vehicle development, all despite the ongoing COVID-19 pandemic.