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.