At the beginning of June 2022, Chevy Colorado supply across the United States remained low at just eight days, GM Authority has learned from sources familiar with GM’s inventory situation. Supply of the popular midsize pickup truck was running at a mere six days in early May, just nine days as of the beginning of March, preceded by 15 days in November 2021, and seven days in September 2021. 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, due to the ongoing global semiconductor microchip shortage, as GM prioritizes 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 the end of January. 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 toward the end of the 2022 calendar year.
Production issues and resulting inventory shortages have suppressed Colorado sales volume and share. Even so, the Colorado remains competitive in its competitive set, placing third in its segment when ranked by sales volume during the first quarter of 2022, maintaining a share of 16 percent. That is despite a 10 percent drop in sales volume to 21,693 units, placing it within just over 700 units of second place. The drop was a direct result of the low inventory situation described earlier.
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 |
As such, getting production ramped up would most likely push the Colorado into second place in its set, while beginning to challenge the perennial segment-leading Toyota Tacoma. The arrival of the overhauled 2023 Colorado will undoubtedly boost sales even more, so long as production and inventory allow.
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 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.
A prototype of the 2023 Colorado LT undergoing testing in March 2022
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
GM Authority 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 in late 2022 or early 2023, so long as production and availability allow. GM is betting on just that, having investing $1 billion in the Wentzville facility specifically for the next-gen Colorado and Canyon.
Subscribe to GM Authority for more Chevy Colorado news, Chevy news, and around-the-clock GM news coverage.
Comments
Getting rid of all engine options but a new 4 cylinder one is a deal breaker
Days inventory isn’t a factor when you only have 1-3 of these on the lot anyway. An idiot with a bachelors degree will get wet about it, but smarter people realize the inventory is super low so of course it’s going to be micro
The Ed Martin Chev/Cad dealer near me has not had any trucks for weeks, new or used. I am constantly bombarded with e-mails from them urging me to sell them my 2019 Colo. Sell it? What would I do, walk?
My only disappointment about this article , Is that it does not show more up to date photos of the 2023 Colorado ,like it being done for the GMC Canyon , To me It seems like thy are trying to put the Canyon as the main mid size truck of the two ! Gm all ways used to bring out the Colorado first for the introduction ,now I believe that Gm is moving the more expensive Canyon ,To be main truck to buy and Show it first .with Colorado to follow ! These is I believe ,from all the articles I read !
They should stick with the 6 speed transmissions. The 8’s & 10’s are not reliable. To many small flimsy parts trying to fit in a reasonable size case.