Despite rising fuel costs and inflated new vehicle prices, GM customers continue to show a strong appetite for large vehicles. At the automaker’s recent shareholder’s meeting in Detroit, chief executive officer Mary Barra said the automaker is “selling every truck we can build,” as quoted by Reuters, and will increase its production capacity for trucks in response.
GM has been running its pickup plants as close to full capacity as it can, even amid the semiconductor chip shortage, but inventory remains tight at the vast majority of dealers nationwide. The automaker brought a new pickup plant online last year after it reopened the Oshawa Assembly plant in southern Ontario, which produces the Chevy Silverado 1500 and Chevy Silverado HD only. The light-duty Silverado and related GMC Sierra 1500 are produced alongside each other at the GM Silao plant in Mexico and GM Fort Wayne plant in Indiana, while production of the Silverado HD and Sierra HD takes place at the GM Flint plant in Michigan.
Barra also reiterated the automaker’s strategy of using profits from its hugely popular truck model lines to help fund its transition to electric vehicles during the shareholder’s meeting on Monday. She added that the automaker is exploring even more luxurious and higher-priced versions of certain full-size truck and SUV models to help capitalize on these models’ profitability even further, Reuters reports, but stopped short of providing further details.
GM recently introduced the 2023 Cadillac Escalade-V, a 682 horsepower full-size luxury SUV that will be priced from $149,990 including destination and freight charges, making it the priciest Cadillac ever offered. The new Sierra Denali Ultimate has also been introduced for the 2023MY, which expands on the full-size truck’s premium Denali trim level with Vader chrome exterior trim, exclusive 22-inch wheels, Paldao wood trim, a power sunroof and a 12-speaker Bose audio system, among more.
The automaker will introduce the next-generation 2023 Chevy Colorado and 2023 GMC Canyon mid-size pickups later this year, as well, which will be produced at the GM Wentzville plant in Missouri. The next-gen trucks will feature revised exterior styling, an overhauled cabin with new tech and a more up-to-date powertrain consisting of the GM turbocharged 2.7L L3B four-cylinder gasoline engine and 10-speed automatic transmission.