After a rough Q1 2023, during which sales of the Chevy Colorado were markedly reduced due to lowered inventory levels, the Bow Tie brand’s midsize pickup truck has reclaimed its long-held second-place spot during the month of May.
Through May 2023, the Colorado was ranked second in the midsize pickup sales segment. This places the midsizer above the likes of the Ford Ranger, Nissan Frontier, and Jeep Gladiator, yet far below the segment-leading Toyota Tacoma. It’s worth noting that overall Q2 2023 sales will be available in early July.
For reference, sales of the Colorado fell almost 40 percent during Q1 2023 to 13,256 units. This caused the Bow Tie brand’s midsize pickup to lose four percent of its market share from Q1 2022 figures, down to 12 percent, as a result of significantly reduced inventory levels. As comparison, the Colorado sold 20,602 units in Q4 2022, thus capturing 15 percent of the midsize truck market.
With all that in mind, this drop in inventory is largely related to GM’s slow rollout of the next-generation 2023 Chevy Colorado. As such, with inventory levels slowly rising across the U.S., sales of the third-gen Colorado are likely to follow, as is evidenced above.
Speaking of the all-new midsizer, the 2023 Colorado is vastly improved over the preceding model. In fact, the exterior, interior and powertrain have all been extensively overhauled in an effort to catapult the truck over the Tacoma. Of course, Toyota just recently unveiled their next-gen Tacoma, which is set to launch later this year.
Under the hood, the 2023 Chevy Colorado features two engine options, including the turbocharged 2.7L I4 L2R gasoline engine, rated at 237 horsepower and 260 pound-feet of torque, and the turbocharged 2.7L I4 L3B gasoline engine, which produces either 310 horsepower and 391 pound-feet of torque, or 310 horsepower and 430 pound-feet of torque, depending on the tune.
As for structure, the third-gen Colorado rides on an updated variant of the GMT 31XX platform, while production takes place at the GM Wentzville plant in Missouri.
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Comments
That is a really good looking truck. The new ranger looks better than the previous gen but it doesn’t look as good as either of the GM twins. Toyota did enough with the next gen tacoma to remain on top of the sales charts.
Surprisingly Toyota knocked it out of the park. They typically do just enough and even the Tundra was a meh attempt. Colorado will have to make sure with 2nd.
What did Toyota do that qualifies as “knocked it out of the park?” The one real win I see is they offer a variety of cabin and bed configurations. But beyond that…. what is it?
Its like… coil spring rear? Well the new Tundra still rides the worst in the segment despite having coils in the rear.
The hybrid? A big torque number but well… again look at the Tundra. It doesn’t really improve MPG. And somehow the new Tundra is slower than the V8 competition despite having the larger HP/TQ numbers.
Interior? Looks no better than the competition IMO.
Towing and payload? Towing is still sub par for mid-size segments and the payload is good but all the mid-size trucks are within 100lbs with max payload.
Toyota did what they had to do… release an updated Tacoma. That’s all Toyota has to do to “win.” Its the most captive buyers base in the market. And don’t even give me the “reliability” BS. Tacoma’s have ONE generation of actually good reliability. 1st gens universally rusted to nothing extremely early and 3rd gens have a number of problems and are at best average reliability. And the new Tundra has had a wide variety of issues. I’ve been in two and they both rattled worse than my damn Jeep Gladiators and that’s a JEEP with a removable top.
Don’t fret, “Mr. Mike’s” opinions are based on what he reads in the terlet mags or see’s on YT.
He’s got no real-life data.
(he’ll be citing concerns about no headlight physical switch next….ala all those echoing what the first person said on YT)
I was driving a 2022 Tacoma that I really liked the body style, however the 2022 Toyota Tacoma for me was a terrible truck is a not even close in anyway compared to the 2023 Colorado Z71 truck I just bought . I read that they vastly improver 2024 Tacoma however I don’t like the new body style at all kinda looks Nissan-ish and Nissan simply knows how to make any and all there vehicles ugly.
16 mpg in town and hiway sucks
Colorado improved its looks greatly, but the 5′ only bed is a deal-breaker. Just get an SUV, it’s almost the same. The upcoming Toyota improved ITS looks and at least has a 6′ bed. It wins all day.
For anyone thinking about ordering a Colorado, my son ordered a Z71 on March 18th and it was delivered 11 weeks later. His price was $1500 below sticker.
Where did he order it from? I ordered a new Canyon Denali on March 31 and it still has no build allocation.
I saw my first 2 3rd gen colorados today. Definitely a good looking truck.
Duh, if more trucks are ever delivered to dealers there will be more sales.
My Canyon was ordered in January 2023,
As of today I don’t have it or does the dealer know where it’s at ¿?????????
How can GM keep their dealers in the dark so much. It doesn’t make sense. A lot of B.S. if you ask me.
Doesn’t GM want to sell as many vehicles as possible. Obviously, not. Go figure.
I have recently seen almost 10 Colorados and One Canyon on local dealer lots ( upstate NY) . Almost all of them have Driver Side Window Stickers ( round ) that are completely weathered , almost unrecognizable, which tells me these trucks have been sitting outside for weeks if not more.. waiting for something or other..
Mucksieooma: The Z71 was ordered from Diamond Auto Group in central Massachusetts.
The dealers are getting them in! We were having trouble finding and test driving the Colorado, and finally walked into a dealership to see one from an internet search. They had 5 trucks come in that day. Bought one! We were at Hare Chevrolet in Noblesville, IN The bigger dealership had the GM discount too! Very happy with the truck!
Congrats on the new rig George!
The reason they are sitting is most didn’t have a MPG rating that showed the actual mileage was 16 in town and 16 on the road with a average of 16 MPG which is horrible and wait before buying one because they’ll have to put rebates to get rid of them
I ordered a GMC Canyon AT4 in December 2022 as soon as could put in order, they just got it in today. Seems like a long wait to me, I almost canceled the order. Hope it proves to be worth the wait.
The best version of the Colorado was the First Generation. I’m still rocking my trustworthy 3.7L Inline Five-Cylinder Engine 4×4. No cylinder-deactivation nonsense, no turbo-charger, no 10-million-speed transmission that never knows what gear to shift into, no distracting computer screen flashing at me on the dashboard. Can’t beat old-school!
Once yours craps out, you will have to settle for all of those items that you dislike. That’s progress, whether you like it or not.