Chevy Silverado Sales Slip To Third Place In Segment During Q3 2022

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Chevy Silverado sales decreased in the United States, but increased in Canada and Mexico during the third quarter of 2022.

Chevrolet Silverado Sales - Q3 2022 - United States

In the United States, Chevrolet Silverado deliveries totaled 117,198 units in Q3 2022, a decrease of about 5 percent compared to 123,067 units sold in Q3 2021.

In the first nine months of the year, Silverado sales decreased about 8 percent to 381,337 units.
MODEL Q3 2022 / Q3 2021 Q3 2022 Q3 2021YTD 2022 / YTD 2021 YTD 2022 YTD 2021
SILVERADO -4.77% 117,198 123,067 -7.98% 381,337 414,389
  • Silverado 1500 (light duty) sales decreased 28 percent to 63,629 units
  • Silverado Heavy Duty (2500 HD and 3500 HD) sales increased 58 percent to 51,334 units
  • Silverado Medium Duty (4500 HD, 5500 HD and 6500 HD) sales increased one percent to 2,235 units

Chevrolet Silverado Sales Detail - Q3 2022 - USA

ModelQ3 2022 / Q3 2021Q3 2022Q3 2021YTD 2022 / YTD 2021YTD 2022YTD 2021
Total-4.8%117,198123,067-8%381,337414,389
Silverado LD-27.9%63,62988,306-21.3%233,190296,286
Silverado HD+57.7%51,33432,550+27.3%141,289110,980
Silverado MD+1.1%2,2352,211-3.7%6,8587,123

Chevrolet Silverado Sales - Q3 2022 - Canada

In Canada, Chevrolet Silverado deliveries totaled 14,236 units in Q3 2022, an increase of about 27 percent compared to 11,236 units sold in Q3 2021.

In the first nine months of the year, Silverado sales increased about 1 percent to 41,926 units.
MODEL Q3 2022 / Q3 2021 Q3 2022 Q3 2021YTD 2022 / YTD 2021 YTD 2022 YTD 2021
SILVERADO +26.70% 14,236 11,236 +0.70% 41,926 41,635

Chevrolet Silverado Sales - Q3 2022 - Mexico

In Mexico, Chevrolet Silverado deliveries totaled 1,755 units in Q3 2022, a decrease of about 3 percent compared to 1,800 units sold in Q3 2021.

In the first nine months of the year, Silverado sales increased about 4 percent to 6,416 units.
MODEL Q3 2022 / Q3 2021 Q3 2022 Q3 2021YTD 2022 / YTD 2021 YTD 2022 YTD 2021
SILVERADO -2.50% 1,755 1,800 +3.67% 6,416 6,189

Competitive Sales Comparison (USA)

Chevy Silverado sales during the third quarter of 2022 saw the Bow Tie brand’s full-size truck line slip to third place in its segment, albeit within spitting distance of second place. The Ford F-Series (see running Ford F-series sales) continued in first place with a three percent decline in sales to 167,962 units while the Ram Pickup took second with a similar three percent slide to 118,106 units. The Silverado followed in third with a five percent drop to 117,198 units, within roughly 900 units of second place.

The Silverado’s corporate cousin, the GMC Sierra (see running GMC Sierra sales), took fourth with a five percent decline to 50,169 units. The Toyota Tundra followed in fifth with a 43 percent increase to 30,203 units. It was the only model to be in the green during the quarter. The Nissan Titan landed in last place with a segment-worst 74 percent drop to 1,275 units. Nissan has no plans to redesign the Titan, indicating that the pickup will be discontinued after the current generation.

Full-Size Pickup Truck Sales - Q3 2022 - USA

MODEL Q3 22 / Q3 21 Q3 22 Q3 21 Q3 22 SHARE Q3 21 SHARE YTD 22 / YTD 21 YTD 22 YTD 21
FORD F-SERIES -2.80% 167,962 172,799 35% 35% -12.63% 467,307 534,831
RAM RAM PICKUP -2.96% 118,106 121,704 24% 25% -16.49% 363,089 434,772
CHEVROLET SILVERADO -4.77% 117,198 123,067 24% 25% -7.98% 381,337 414,389
GMC SIERRA -4.94% 50,169 52,774 10% 11% -11.55% 169,107 191,186
TOYOTA TUNDRA +42.82% 30,203 21,148 6% 4% +14.62% 74,519 65,013
NISSAN TITAN -74.48% 1,275 4,996 0% 1% -45.17% 12,487 22,772
TOTAL -2.33% 484,913 496,488 -11.73% 1,467,846 1,662,963

From a segment share standpoint, the Silverado held a 24 percent share, down one percentage point – same as the Ram Pickup. The F-Series maintained its 35 percent segment share, while the Sierra held a 10 percent share, down one percentage point. The Tundra earned a six percent share, up two percentage points, while the Titan’s share was essentially nil, down one percentage point.

Overall, the full-size pickup segment contracted two percent to 484,913 units, meaning that Chevy Silverado sales slightly underperformed the segment average.

On a combined basis, sales of the two full-size GM pickup offerings, the Chevy Silverado and GMC Sierra, declined five percent to 167,367 units. This wasn’t enough for General Motors to keep the best-seller crown in the full-size truck space, placing the automaker slightly behind cross-town rival Ford by less than 600 deliveries.

GM Full-Size Pickup Truck Sales - Q3 2022 - USA

MODEL Q3 22 / Q3 21 Q3 22 Q3 21 Q3 22 SHARE Q3 21 SHARE YTD 22 / YTD 21 YTD 22 YTD 21
CHEVROLET SILVERADO -4.77% 117,198 123,067 70% 70% -7.98% 381,337 414,389
GMC SIERRA -4.94% 50,169 52,774 30% 30% -11.55% 169,107 191,186
TOTAL -4.82% 167,367 175,841 -9.10% 550,444 605,575

For informational purposes, we have provided Honda Ridgeline sales below, as the model straddles the midsize and full-size pickup truck segments.

Honda Ridgeline Sales - Q3 2022 - USA

MODEL Q3 22 / Q3 21 Q3 22 Q3 21 YTD 22 / YTD 21 YTD 22 YTD 21
RIDGELINE +92.48% 12,515 6,502 +4.66% 32,312 30,872

The GM Authority Take

Chevy Silverado sales fell during Q3 2022, as they did for most of the field. But this time, The General could not claim the top spot in overall full-size pickup truck sales.

On-again, off-again production disruptions are most likely to blame, including the ongoing global semiconductor microchip shortage as well as other parts shortages affecting production and inventory levels across the automotive industry that could last well into the 2024 calendar year.

As it relates more specifically to GM, production of the Silverado 1500 and Sierra 1500 full-size pickups resumed at the GM Fort Wayne Assembly plant in Indiana following a two-week shutdown in April. At the GM Oshawa plant in Ontario, production of the Silverado finally commenced in May alongside the Silverado HD, making it the only GM facility to produce both Light Duty and Heavy Duty versions of the same truck.

In July, GM idled production at its Fort Wayne plant for a week due to a shortage of semiconductor chips. The automaker then added a third Silverado production shift at Oshawa in order to meet increasingly high demand. But in August, GM halted production of the Silverado 1500 and Sierra 1500 pickup trucks at the GM Silao plant in Mexico for one week due to supply chain issues. In August, GM announced that it had cleared out 20,000 incomplete vehicles in July.

One would think that part of the blame for the sales decline is the continuing rise in transaction prices across the industry, including for the Chevy Silverado and GMC Sierra, which rose over nine percent for the Silverado and over eight percent for the Sierra in Q2 2022. The average amount paid for a Silverado rose 9.4 percent to $57,448 in the three months from April until the end of June, which was the highest year-over-year price increase of any Chevy nameplate.

However, high average transaction prices are now the norm for the full-size pickup segment as consumers show a willingness to pay increasingly high prices for these trucks. In fact, more than 14 percent of new car payments topped $1,000 in Q3 2022. That compares to over 12 percent in Q2 2022 and over eight percent in Q3 2021. In addition, more than one in four buyers who financed an electric vehicle committed to a monthly payment over $1,000. That bodes well for the upcoming 2024 Chevy Silverado EV (more on that below).

2023 Chevy Silverado ZR2 Bison

GM gave the Chevy Silverado 1500 a thorough refresh for the 2022 model year that addressed most, if not all, of the criticisms of the pre-refresh model. Updates include a revised front fascia, a completely overhauled interior with new center stack that includes a 13.4-inch infotainment screen, a new center console, new 12.3-inch digital gauge cluster, and the latest tech. The range-topping High Country model, for instance, offers GM’s innovative Super Cruise semi-autonomous driver assist system, a first for the Silverado. In addition, the all-new 2022 Chevy Silverado ZR2 joins the lineup as part of the refresh, and we expect it to further bolster Silverado sales.

The 2023 Chevy Silverado 1500 arrives as the fourth model year of the fourth-generation nameplate, introducing a handful of minor changes and updates over the fully refreshed 2022 model year. Arguably the biggest change is that 2023 Silverado 1500 Duramax models will be equipped with the new 3.0L I6 LZ0 engine turbo-diesel “baby Duramax,” which improves upon the 3.0L I6 LM2 that it replaces.

2023 Chevy Silverado ZR2 Bison

The other big news for 2023 is the introduction of the first-ever 2023 Chevy Silverado 1500 ZR2 Bison. The Silverado ZR2 Bison represents Chevy’s second vehicle collaboration with American Expedition Vehicles (AEV), a premium off-road aftermarket manufacturer (the first was the Chevy Colorado ZR2 Bison). Available as an optional package exclusively for the Silverado 1500 ZR2, the Bison elevates the off-road capabilities of the ZR2 with a selection of upgrades and unique touches. The 2023 Chevy Silverado ZR2 itself was recently named a semifinalist for the North American Car Of The Year (NACTOY) award.

Production of the 2023 Chevy Silverado 1500 began at the GM Oshawa plant in Ontario on August 20th, 2022, at the GM Fort Wayne plant in Indiana and GM Silao plant in Mexico on August 29th, 2022, for both Regular Cab and Crew Cab models, and on September 6th, 2022, for Double Cab models.

2024 Chevrolet Silverado HD High Country

For heavy duty customers, last month GM unveiled the refreshed 2024 Chevy Silverado HD, featuring updated exterior styling, an overhauled interior, new tech features, and upgrades to the powertrain lineup. Additionally, the automaker teased the upcoming 2024 Chevy Silverado HD ZR2, which will be the first-ever heavy duty Silverado ZR2.

The 2024 Chevy Silverado HD is once again offered in 2500 HD and 3500 HD configurations, as well as Regular Cab, Double Cab, and Crew Cab body styles. The refreshed 2024 Silverado 3500 HD offers dual-rear-wheel configurations and trailering capacity up to 36,000 pounds, while the max tow rating for the refreshed 2024 Silverado 2500 HD increases from 18,510 to 22,500 pounds.

2024 Chevrolet Silverado HD High Country

The 2024 Silverado HD trim level lineup includes Work Truck, Custom, LT, LTZ, and High Country, while the Silverado HD ZR2 will debut later on in the model year. Customers can also opt for a wealth of packages and special edition models, including the Z71 Sport Edition, Z71 Chrome Sport Edition, Midnight Special Edition, and Alaskan Snow Plow Special Edition.

2023 Ford Super Duty F-250

Just as GM ups the ante across its Silverado truck line, competitors have fired their own salvos. Just a day after the refreshed Silverado HD reveal, Ford unveiled the all-new 2023 Ford Super Duty, debuting a fresh answer to the Chevy Silverado HD and GMC Sierra HD. And two days later, Stellantis unveiled the new 2023 Ram 2500 Heavy Duty Rebel as an upcoming rival to the Chevy Silverado HD ZR2.

2023 Ram 2500 Heavy Duty Rebel

Finally, GM revealed the first-ever 2024 Chevy Silverado EV earlier this year. Set to launch in 2023 for the 2024 model year, the upcoming Silverado EV will first launch in RST and WT trims. Other trim levels, including the upcoming 2024 Chevy Silverado EV Trail Boss, are also planned. GM Authority has spied a few prototypes undergoing testing, including one in black paint last week and another finished in silver.

2024 Chevrolet Silverado EV RST

The Chevy Silverado EV will ride on the all-new BT1 platform, a dedicated electric platform that uses Ultium Battery technology. It will compete head-on with the all new Ford F-150 Lightning, which is seeing early signs of success. Demand for Ford’s electric pickup was so strong, that GM’s cross-town rival ramped up F-150 Lighting production nearly twofold. It may not be a stretch to assume that interest in the all-new Chevy Silverado EV will show a similar pattern, and possibly more impressive as GM racks up 150K reservations as of Q2 2022.

2024 Chevrolet Silverado EV RST

GM is cranking out refreshed models and new trims to bolster sales volume of its bread-and-butter product for now and into the future. If the automaker can manage microchip shortage and other parts constraints better than its competitors to keep production lines humming in order to meet ongoing strong demand, the sky is the limit.

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    20 Comments

    1. Mike Hunt says:
      October 13, 2022 at 7:49 pm

      It is time for better pricing and increased incentives and better leases. You would be foolish to pay sticker or more for any of these overpriced vehicles. It’s only going to get worse in the near term.

      Reply
    2. TR says:
      October 13, 2022 at 8:03 pm

      1k month is what I pay for my home so no way I’m paying that on a vehicle even if I can afford it.

      Reply
    3. Unknown American says:
      October 13, 2022 at 8:30 pm

      The real problem are the mark-ups, a work truck has a mark-up becuase it’s a work truck. A Z72 has a mark-up becuase it’s a ZR2 and so on. Here in California it’s no joke with the mark-ups, up to $10,000 on a work truck.

      Reply
    4. Mr. Mike says:
      October 14, 2022 at 5:17 am

      So with the YTD numbers, Ford has 35% market share with 467k trucks. GM has 36% with 550k.

      What am missing?

      Reply
      • Mr. Mike says:
        October 14, 2022 at 5:18 am

        34% for GM. Wrong column. So they have a smaller market share but sell more trucks?

        Reply
      • GeorgeS says:
        October 14, 2022 at 6:01 am

        Mr Mike; Your reading it a bit off. The 24% is for Silverados only, 10% for Sierra only, Ford 35%. GM 34% is both Silverado and Sierra. Total truck sales for GM has always been higher than Ford. It is just the F-150 model out sells all other models.

        Reply
    5. Remi says:
      October 14, 2022 at 5:27 am

      Not sure why GM bothers. They don’t pick up orders in the first place. I have an order in place now since March this year. Nothing happening.
      I think GM has forgotten about their customers.

      Reply
    6. Carl says:
      October 14, 2022 at 8:35 am

      Combined GM truck sales could have easily taken first place if GM could just get out of its own way and build them !!!!! Focus on building what you need now instead of EV’s that most of us won’t buy anyway!

      Reply
    7. Bacardi says:
      October 14, 2022 at 10:00 am

      Of course the numbers are down. Ordered a truck in march….. still no word on it. Apparently going to be a 2023 now. Probably won’t see it till next summer

      Reply
    8. LeRoy says:
      October 14, 2022 at 2:31 pm

      The average amount paid for a Silverado …………$57,448. Seriously?

      Reply
      • Red says:
        October 14, 2022 at 4:59 pm

        Not really a surprise.

        Have you looked at a 2500/3500 diesel lately? A middle-of-the-road LT with cloth seats is $65,000 now. You could get a fully loaded LTZ/Denali for less than that just a few years ago.

        Same story with the 1500s. My 2020 Sierra SLT Premium Plus with heated/cooled leather, Navigation, Bose Sound, Sunroof, all the collision avoidance nannies, etc was $60,000 sticker. I paid around $52,000 out the door for it with a 150,000-mile extended warranty. Nowadays a decently optioned SLE is that price, and there’s no room for negotiations.

        I had an order placed for a ’22 Silverado 1500 High Country with all the toys and it was going to be $75,000. That was Escalade money a few years ago.

        Reply
      • Mike Hunt says:
        October 15, 2022 at 8:00 am

        Crazy!! And being GM it probably doesn’t have fog lights or a V8 either!

        Reply
    9. Davy E. Ginn says:
      October 14, 2022 at 3:39 pm

      I never understood why gm let’s Ford claim the most pickups sold for the last “150” years in their commercials. GM’s combined Silverado & Sierra have sold more many years. Advertise best selling pickups are gm! But gm cares about nothing but ev right now which is a big mistake and they will lose a big % of customers in the near future. Three chevys in my drive right now, all ice, all bought new -2020, 2017, & 2002). Live in NE MS and seldom even see an ev and if so, it is a Tesla in my son’s college town.

      Reply
    10. Pierre says:
      October 14, 2022 at 7:56 pm

      All the usual GM bashers here look like fools because they can’t or won’t add. From the article, YTD ’22 GM sales total 550,44, almost 100,000 more than Ford. That difference can’t be made up by Ford in Q4 so GM will again outsell Ford pickups in 2022, as GM has done since Q1 2020.

      Nobody in the real world pays attention to echo chambers, this one included.

      Reply
      • morrisangelo says:
        October 15, 2022 at 7:07 am

        Sorry Pierre, while you’re crunching your numbers, there are a lot of folks like me who have left GM.

        By the legitimate complaints I’ve seen here on GMA, you need to take a better look at the trending of what customers are telling you about how they perceive GM. It’s just not good.

        Reply
      • Mike Hunt says:
        October 15, 2022 at 8:03 am

        Who cares. I don’t get anything if GM sells more. They all suck!

        Reply

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