At the beginning of March 2022, Chevy Colorado national supply was at just nine days, GM Authority has learned from sources familiar with GM’s inventory situation. The popular midsize pickup truck was running at 15 days supply as of the first week of November 2021, up from seven days in September. A 60-day supply is considered optimal in the U.S. auto industry.
The latest inventory constraints stem from previously-paused production at the GM Wentzville plant in Missouri where both the Colorado its corporate cousin, the GMC Canyon, are built. This, in turn is due to the ongoing global microchip shortage, which is expected to subside during the second half of 2022.
Beyond that, Colorado and Canyon production was down in December 2021 as well as during January 2022 due to renovation work being carried out at the facility to prepare the plant for production of the upcoming all-new, next-generation 2023 Chevy Colorado and 2023 GMC Canyon, which sources tell us will not be delayed by the ongoing microchip shortage.
During the most recent past, production issues and resulting inventory shortages has continued to result in steady declines in Colorado sales volume and share. Last year, Colorado sales fell 24 percent to 73,008 units, with a 12 percent segment share in the midsize mainstream pickup truck segment, down five percentage points. Sales of the Bow Tie brand’s midsize pickup underperformed the segment, which grew 3 percent to 594,813 units.
Sales Numbers - Midsize Mainstream Pickup Trucks - 2021 - USA
|MODEL||YTD 21 / YTD 20||YTD 21||YTD 20||YTD 21 SHARE||YTD 20 SHARE|
An update to the Colorado is long overdue, since the current model was introduced for the 2015 model year, based around the international-market model that was launched in 2011. The vehicle has remained largely the same during its lifecycle with the exception of a few relatively minor updates. As we reported previously, GM decided to forego a midcycle enhancement for the Colorado, instead electing to completely overhaul (redesign and re-engineer) the truck for the 2023 model year.
When it debuts, the third-generation 2023 Chevy Colorado will feature a long list of updates and changes, including an updated powertrain plus redesigned exterior and overhauled interior, which we recently spied out in the wild. We also spied the upcoming 2023 Chevy Colorado ZR2 undergoing testing, as well as what appears to be the upcoming Colorado LT.