At the beginning of May 2022, Chevy Colorado national supply fell to a mere six days, GM Authority has learned from sources familiar with GM’s inventory situation. Supply of the popular midsize pickup truck was running at just nine days as of the beginning of March, then 15 days in November, and at seven days in September. As a reminder, a 60-day supply is considered optimal in the U.S. auto industry.
These inventory constraints stem from previously-idled production at the GM Wentzville plant in Missouri where both the Colorado its corporate cousin, the GMC Canyon, are built. The pause was, in turn, was due to the ongoing global semiconductor microchip shortage, which GM prioritizing chips to its full-size trucks and SUVs.
Beyond that, Colorado and Canyon production was down in December 2021 as well as during January 2022, before finally restarting by month’s end. This downtime, however, was 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. Sources tell us that assembly of the next-gen trucks will not be delayed by the ongoing microchip shortage, and will begin after production of the 2022 Chevy Colorado and Canyon end in October.
Production issues and resulting inventory shortages have suppressed Colorado sales volume and share. Even so, the Colorado remains competitive, placing third in its segment when ranked by sales volume during the first quarter of 2022, maintaining a 16 precent share. However, the inventory issues resulted in sales of the midsize pickup falling 10 percent to 21,693 units, putting it within just over 700 units of second place. Getting production ramped up would most likely push the Colorado into second place, while beginning to challenge the perennially segment-leading Toyota Tacoma. The launch of the overhauled 2023 Colorado will undoubtedly boost sales even more, so long as production and inventory allow.
Sales Numbers - Midsize Mainstream Pickup Trucks - Q1 2022 - USA
| MODEL | Q1 22 / Q1 21 | Q1 22 | Q1 21 | Q1 22 SHARE | Q1 21 SHARE |
|---|---|---|---|---|---|
| TOYOTA TACOMA | -19.97% | 53,182 | 66,449 | 38% | 44% |
| NISSAN FRONTIER | +107.84% | 22,405 | 10,780 | 16% | 7% |
| CHEVROLET COLORADO | -9.92% | 21,693 | 24,083 | 16% | 16% |
| JEEP GLADIATOR | -4.83% | 17,912 | 18,822 | 13% | 12% |
| FORD RANGER | -27.01% | 17,639 | 24,166 | 13% | 16% |
| GMC CANYON | -13.77% | 6,160 | 7,144 | 4% | 5% |
| TOTAL | -8.22% | 138,991 | 151,444 |
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 2023 Chevy Colorado will feature a long list of updates and changes as compared to the outgoing (and current) second-generation model. While the underlying GMT 31XX platform will carry over, including parts of the frame and cab structure, just about everything else will be overhauled. In addition to an overhauled exterior and new interior, the 2023 Colorado will also adopt the GM Global B electrical architecture, also known as Vehicle Intelligence Platform (VIP) that will enable over-the-air software updates to key vehicle components, along with the proper integration of advanced semi-autonomous driving assistance systems like Super Cruise and Ultra Cruise.
2023 Chevy Colorado prototype
Under the hood, the 2023 Chevy Colorado will offer only one powerplant – the turbocharged 2.7L I4 L3B gasoline engine. The atmospheric 2.5L I4 LCV gasoline engine, atmospheric 3.6L V6 LGZ gasoline engine, and 2.8L I4 LWN turbodiesel Duramax offered on the current truck will not return for the 2023 model year.
Power and torque ratings for the 2023 Chevy Colorado are currently unclear, but the boosted four makes 310 horsepower and an impressive 430 pound-feet of torque in the refreshed 2022 Chevy Silverado 1500 and 2022 GMC Sierra 1500. We expect GM’s 10-speed automatic to handle cog swaps.
2023 Chevy Colorado ZR2 prototype
We recently spied the 2023 Chevy Colorado LT for the first time, after having captured a prototype of the 2023 Chevy Colorado ZR2 and 2023 Chevy Colorado Work Truck. Earlier this year, we exclusively spied the overhauled interior.
We expect that the new model will deliver a healthy uptick in sales volume when the truck arrives later this year, production and availability allowing. GM is betting on just that, having investing $1 billion in the Wentzville facility specifically for the next-gen Colorado and Canyon.
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Comments
If they need inventory they can take my 2021 back…. I put 17k on it but it looks like new (when we purchased it)!
Looking forward to this next gen truck!
So it’s going to be re engineering and overhauled but it will still use parts of the old cab structure. Sounds like the cab won’t be much different if using old structure framing. I’d like to see a truck that’s way ahead of the competition. I can’t wait to see this. Stop with the glimpse of a dashboard. Time to unwrap and give us the actual truck photos
If I told you that I’ve been waiting YEARS for this next gen truck. Nothing against the current model but with a new model so close, I can wait. Ugh.. can we just unveil it soon so that can get one ordered.
Here in central Arkansas, the few Colorados that arrive are sold before they are rolled off the transports. I cancelled my 2022 order last year due to colors and options being deleted, so I have been waiting and hoping this new one will be available for ordering soon. Wonder why GM is being so top secret on the pictures, kinda weird.
Wow 9 months and counting still waiting for my 2022 Colorado zr2,unbelievable it will probably be a year old before it arrives sheesh.