2024 Chevy Trax Residual Value Increases Significantly Over Previous Generation
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General Motors unveiled the all-new 2024 Chevy Trax last October, pulling the sheets on a fresh entry-level crossover for the Bow Tie Brand. Critically, GM Authority has learned that GM is expecting the new 2024 Chevy Trax to hold a significantly higher residual value than the preceding 2022 model year.
Using data from residual value analysis experts ALG, GM is expecting the residual value of the new 2024 Chevy Trax to stand at 63 percent over a 36-month-lease with a 10,000-mile-per-year allocation.
At 63 percent, the 2024 Chevy Trax residual value estimate represents a massive 24-percent bump over the 2022 model year. As a result, the 2024 Chevy Trax should have a relatively low lease payment.
Pricing for the 2024 Chevy Trax starts at $21,485 for the entry-level 1LS trim level. The 1RS trim level starts at $23,195, while the 1LT starts at $23,395. The 2024 Chevy Trax 2RS and Activ both start at $24,995. Prices listed include the destination freight charge. In addition to the five trim levels mentioned, 2024 Chevy Trax customers also have a wide range of options and packages to choose from, including upgrades for the crossover’s convenience, safety, styling, and more. Check out GM Authority’s previous coverage of 2024 Chevy Trax pricing with options and packages for more information.
The 2024 Chevy Trax is on sale now, with the first unit delivered earlier this month. Per a GM Authority exclusive, GM is planning to build and ship roughly 184,000 units of the 2024 Chevy Trax during the 2023 calendar year. Production takes place at the GM Changwon plant in South Korea.
As for what’s under the hood, the 2024 Chevy Trax draws motivation for the turbocharged 1.2L I3 LIH gasoline engine. Maximum output is measured at 137 horsepower and 162 pound-feet of torque. The GM VSS-F vehicle set provides the bones.
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Does this honestly mean ANYTHING at this stage? If people find it cheap, nasty, slow and all show but no go the residual value will plummet like the last. It’s up to GM to convince people they have made significant improvements and not cut corners. The back seat area looks hard plastic rough to me regardless of trim level. Also the fact that it is not exactly offering great MPG is another worry.
I just hope that when we finally see them on dealer lots, the dealers won’t price them over MSRP listed on the sticker.
1.2 liter , smaller than most twin cyl touring/cruising
MOTORCYCLES, to transport up to 4 people + their ‘stuff’. Am I missing something ?
The Trax is the “I just want to get back and forth to work on a budget and maybe have some space for my stuff” car. It can do a lot for the price, but it won’t do a lot of it well, just good enough for everyday use.
From the videos I’ve watched from South Korean drivers, the Trax is capable of going a fair bit over 100Mph (Though granted it does take a bit to get there, lol). I don’t think I’ve ever driven that fast in my life, so it’s even faster than I need TBH. That’s all the perspective I need when looking at a car.
Top Speed is far less relevant than acceleration. A certain amount of minimum power from this perspective needs to be present to survive American roads highways. The last thing we need is more people merging onto the highway who can’t accelerate even if they wanted to at a reasonable rate, holding up traffic. s
That’s fair, I was coming at this from the perspective that I live in the middle of nowhere and the last time I drove on the highway was months ago. It’s 15 minutes to work and the fastest speed limit is 55 on that trip, so the Trax is something that would make sense for me.