The full-size pickup segment is as popular as ever, and customers aren’t shy when it comes to choosing high-end models and features. That includes the GMC Sierra, which, according to recent data, had the highest average transaction price (ATP) among competitors.
According to a recent report from Cox Automotive, the GMC Sierra boasted an ATP of $69,878 in Q3 of the 2022 calendar year, up an impressive 12.5 percent year over year. The figure places the GMC Sierra well above its competitors:
- GMC Sierra: $69,878
- Toyota Tundra: $60,049
- Chevy Silverado: $60,445
- Ram 1500: $63,068
- Ford F-Series: $63,866
Note that the ATP figure listed above for the Ram 1500 do not include the Ram HD.
The rest of the GMC lineup also posted a year-over-year increase in ATP in Q3 of the 2022 calendar year, with the GMC Terrain up 4.5 percent ($36,313), the GMC Yukon up 3 percent ($75,954), the GMC Yukon XL up 1.8 percent ($78,939) and the GMC Acadia up 3.9 percent ($46,517).
That said, sales for the GMC Sierra fell during the quarter, dropping 4.9 percent year over year to 50,169 units. Total U.S. sales for the GMC brand increased 24 percent to 120,512 units, with the GMC Terrain jumping 81 percent to nearly 18,000 units. GMC also sold 411 units of the new Hummer EV during the quarter.
Sales Results - Q3 2022 - USA - GMC
|MODEL||Q3 2022 / Q3 2021||Q3 2022||Q3 2021||YTD 2022 / YTD 2021||YTD 2022||YTD 2021|
|HUMMER EV PICKUP||*||411||*||*||782||0|
Taken as a whole, GM’s total sales were up 25 percent for the quarter, outpacing the broader automotive industry by a fair margin. GM’s market share was up 3.2 percent to 16.2 percent, with GMC accounting for a 0.7 percent gain.
It’s also worth highlighting that the ATP for the Ram 1500 was higher than that for the Chevy Silverado, recorded at $63,068 and $60,445, respectively. As a reminder, the Ram 1500 lineup includes both the “current-generation” truck and the “previous-generation” truck, the latter of which was renamed as the Ram 1500 Classic and is still built as a more-affordable alternative.