General Motors has unveiled the 2023 GMC Canyon, debuting an all-new third generation that includes a completely reworked exterior, overhauled interior, a new powertrain, and a wealth of tech features. Critically, pricing for the 2023 GMC Canyon starts at around $40,000, which may seem like a significant price hike. However, it’s a little more complicated than that, as we cover in the following GM Authority price analysis.
To start, while GM has yet to release the full pricing breakdown for the 2023 GMC Canyon, it has stated that the MSRP will start at “around $40,000” before Destination Freight Charge (DFC) for the entry-level 2023 GMC Canyon Elevation 2WD model. Additionally, the limited-run 2023 GMC Canyon AT4X Edition 1 will start at $63,350, before DFC.
At present, the DFC for the 2022 GMC Canyon is set at $1,495, so it’s safe to assume that the DFC for the latest 2023 model year is likely the same.
At first glance, it looks like the $40,000 starting price for the 2023 GMC Canyon is a major price hike over the 2022 model year, given the latter starts at $30,080 (including DFC) for the Elevation Standard Extended Cab 2WD variant. However, it’s not quite that simple, as the 2023 model year no longer offers an Extended Cab variant or the Elevation Standard trim level. As such, a more equitable comparison for the entry-level 2023 GMC Canyon Elevation 2WD model would be to the 2022 GMC Canyon Elevation Crew Cab Short Bed 2WD, which starts at $36,980.
That said, it’s clear that GMC is moving towards an upmarket positioning for the Canyon, as the more-affordable trim levels have been deleted over the past several years, steadily raising the base MSRP higher and higher.
| Model Year | Date | Base Trim Level | Engine | Base MSRP + DFC |
|---|---|---|---|---|
| 2020 | Fall 2019 | SL Extended Cab 2WD | 2.5L I4 LCV | $23,395 |
| 2021 | Fall 2020 | Elevation Standard Extended Cab 2WD | 2.5L I4 LCV | $27,595 |
| 2022 | Fall 2021 | Elevation Standard Extended Cab 2WD | 2.5L I4 LCV | $27,995 |
| 2022 | Spring 2021 | Elevation Standard Extended Cab 2WD | 3.6L V6 LGZ | $29,780 |
| 2022 | Summer 2022 | Elevation Standard Extended Cab 2WD | 3.6L V6 LGZ | $30,080 |
| 2023 | Early 2023 | Elevation Crew Cab Short Bed 2WD | Turbo 2.7L I4 L3B | $41,495 (est.) |
As such, it appears as though GMC is leaving the low-cost commercial / fleet pickup market to Chevy – for example, the all-new 2023 Chevy Colorado offers the base-level WT trim with the base-level 2.7L Turbo tune for the turbocharged 2.7L I4 L3B gasoline engine, rated at 237 horsepower and 259 pound-feet of torque. By comparison, the entirety of the all-new 2023 GMC Canyon lineup is powered by the top 2.7L Turbo High Output tune, rated at 310 horsepower and 430 pound-feet of torque.
Be sure to keep it locked on GM Authority as we pour over everything you need to know about the 2023 GMC Canyon, and remember to subscribe to GM Authority for more GMC Canyon news, GMC news, and around-the-clock GM news coverage.
Comments
Leave the volume play for Chevy.
Well, well, well. Just yesterday on another article about the 2023 GMC Canyon, my comment was simple: That it looks and sounds like it will be expensive. That was an understatement!
These prices (especially on trucks and SUV’s) are just over the top stupid.
Dan – you’ve made it very clear that you have zero interest in a truck so why do you have an issue with the price?
Additionally, if GM is making GMC the premium brand they’ve always suggested, it makes total sense that the pricing starts around $40k. All the luxury brands base models start around there and expand higher very quickly.
Finally, look at the pricing of the Gladiator and the Ranger, pricing for equivalent probably is similar.
And maybe with these increases, GM is about to drop a compact truck in the scene that fits in under the Canyon.
Let’s try this again.
To GMC Fan: Your first part is very wrong. I do have an interest in trucks. Just not the totally over-priced ones.
Second: If you think GM will price the Chevy Colorado much cheaper, then history has taught you nothing.
Third: I like the Ford better than the rest, but will NEVER pay those prices. Although I’m a Jeep fan, the Gladiator is hugely over-priced and ugly to boot.
I’ve owned 3 new trucks in my life thus far. I grew up on a farm and have been around trucks when they were still trucks. When reality sets in and truck prices drop, then I will look at buying another but not before.
Back when the LTZ was chevy’s top trim and MSRP’d for 35K. Man has times changed. You also could get a sedan for 12K, and now it’s 25-30 for a hatchback. Couple that with housing index being around 300% what is considered “healthy” nobody can deny there’s a price war on the middle class.
DONKEY
$40,000 asking price is ridiculous.
Do t worry. Another year or two of bidenomics and they will be putting a $8,000 rebate on the hood.
Yeah but by then the inflation will make the base price $55,000……
Well if they are asking 40k for mid-sized truck, it’s left an opening for a 25k small truck market. Does look very nice.
2 years ago I saw Silverado customs with the LB3 listed for 25K. That’s a huge gap of capability for the same price.
Here is an observation from a Denali owner.
The Denali now loaded in crew cab form has been $46,000 loaded. Rebates and discounts dropped the price $5k to 6k. My truck was $45,000 but I paid $39,000. Good price for a mid size truck. For $42,000 I could get a 4×4 Sierra extra cab with sun roof and 22” wheels.
I wanted a smaller truck but I was still temped by the full size value.
Being a part of the mid size truck forums I know there was greater resistance to these trucks as soon as they started to get past 40k. Now keep in mind I got my discount on a Denali as it sat unsold and the dealer applied an extra discount.
I expect there will be a backlash to these prices and sales will decline much.
A $5k jump might have worked but not this large of a jump.
Here is the problem the AT4X is nice but at $64,000 there are a number of some much more interesting vehicles.
Remember the ZR2 was a big success as it was a very good value. We could overlook a few things because it was not $60k.
Wow! A 35 percent price hike on the base model and a $64,000 price for an up-level AT4-X and the engine went from a V-6 down to a 4-cylinder. There’s also now no cab and bed choices..
GM seems intent on becoming a niche carmaker building a limited lineup of high-priced products filling very narrow segments of the market. GM used to build products for “every purse and purpose” but no more. The Canyon used to be highly configurable with three engines, two bed lengths, two cab options, and standard suspensions or off-road packages, along with two or four-wheel-drive. The new version is just a kind of useless, short bed, off-road truck that few will actually use as intended; it’s become a high-priced lifestyle vehicle.
Although it’s an improvement for off-roading, it’s become so narrowly focused and drastically more expensive that I would expect Canyon sales to decline and contribute to GM’s continuing overall market share slide. I’m sure some wise person at GM made the decision to transisition to a niche marketer of EVs and luxury trucks but it’s confounding to me and quite different from their past.
They’re aren’t alone. Seen the new Toyota tundras? Nissans?? Ford is the only one really offering all options, but have you priced them lately???? I think it’s with the whole EV push that’s coming from their investment holders in Blackrock and vanguard, “push the BEV’s!” Not going to work out in the long run. Particularly now that Strive assets is in the game.
LOL “niche”. GMC sells more vehicles at a higher average selling price than BMW does in the US.
This “niche” keeps GM alive, but it’s too bad you can’t afford one.
Sam,
It just so happens that I own a BMW car and a GMC truck already.
In this context, the word niche means a very specialized segment of the market appealing to a narrow subset of buyers.
Trucks, in general, have mass market appeal and are the most configurable products on the market. This means there’s likely a truck to make everyone happy. They usually have multiple engine choices, different transmissions, rear axle options, four or two-wheel drive, usually three different cab options, two bed length choices and multiple trim packages from basic to top-shelf luxury. Those are just the basics. Beyond that, one can add trailer towing packages, off-road suspensions, etc. The choices are many; much more than a typical car. A mid-size truck hasn’t typically had quite as many options as their larger brethren but there was still much to select including cab and bed designs. What GM seems to have done with the Canyon is eliminate much of that and offer only a crew cab, short bed, off-road truck. That makes it more of a niche product than it was.
About 20k higher than where they should be priced. Oh and for some of that tech to work in the cab they’ll charge you a monthly fee. That will really make customers happy.
Wow, that price is over the top, especially considering they didn’t even give it their best transmission. Who in their right mind will pay 40k for a base 2wd canyon when you can get a 4wd trd off road Tacoma for that price?
Darren: First, if you actually think the Tacoma is competitive with this GMC, then I’m wasting my time commenting. I don’t care what letters you put on it (TRD or better yet TURD), the Taco is still the most outdated truck sold in the USA. I don’t care if they just “updated” it. It’s old and just not close. The other thing I’ll say is that you can easily get the Taco into the 40 grand range as well.
For the fun of it, I just went on Toyota’s site and built the second to most basic 4 x 4 double cab (4 full doors) with only a few options. Total price came to $42,000. They only go up from there and you still get the oldest truck known to man.
The only reason Toyota still sells as many of them as they do is because too many people out there are like sheep and just keep buying the same thing because they refuse to shop other brands. That, and the fact that you can still buy a Taco in nearly any form (reg cab, base truck, etc) unlike GM who has all but abandoned the smaller base truck buyers.
it is cheap, north americans are all rich people … GM please ask them US$ 300,808 it seems more reasonable you make your good money to spend with AV or EV development superfluous
Wow…WTH…
What happened to selling hamburgers at a lower cost to sell more hamburgers…
I see a lot people being turned off and may buy the big brother for the same price.
Load gun – shot self in foot.
It’s called the Chevy Colorado.
GMC sells more vehicles at a higher average price than BMW in the US. You’re looking at filet mignon and wondering why it costs more than hamburger.
A Ford Lightning Pro starts at 40K…….46K next year I believe
Not sure what GM is thinking here…..Kinda Crazy to me that the Canyon will be Base 40K
So are we talking 60K for a Denali version?
Wow they need to go back to the drawing board for that price and re update that but ugly box they call a dash.
Getting up as high as Cyber truck watch out. EV will crush this truck at that price and I get a 7000 credit if truck is below 75k and all other caveats met.
Well count me out…The LT version Colorado will suit me just fine.
Absolutely beautiful truck. I would only ever buy a 4wd and they are around 65K . I can easily afford it but I’ll admit I am really having second thoughts at that price. I think I will wait a year or 2 and see if they offer some good incentives. Otherwise great job , love the new generation.
So as stated around 40K is before destination so add about 1500-1600 right there. Also lets not forget the mandatory 1500 upcharge for Onstar and the 495-645 upcharge for paint colors other than white. So at the end of the day base prices will be around 43K for a base 2WD truck! That is ludicrous and pure price gouging. I bet it doesn’t even have a leather steering wheel like they deleted out of Terrain and Acadia on the now base trims. Sounds like someone up above is surging the prices up to prep everyone for the EV’s so it isn’t as big of a blow.
I did not know they were charging for ONSTAR on new vehicles . That is downright insulting. If that is true I am out on a matter of principal. I will be buying my first Ford or Toyota. I really like that new Ford Ranger Raptor anyway. It’s very similar to the 2023 Canyon but has a V6 Turbo. It will be much more capable. GM is simply getting too greedy at this point.
I wish that GMC would put out a little more information, such as available 2023 Canyon colors and a more information on pricing and standard Eq. on the Denali Canyon. Just my wish and I understand that the full release has not taken place yet but giving out more information would be helpful.