The Chevy Tahoe saw its average transaction price (ATP) figure increase by eight percent year-over-year for the second quarter (Q2) of 2023, while for the same period, ATP for the Chevrolet brand rose three percent and GM ATP overall surged by 9 percent.
According to a report from Cox Automotive, the average transaction price for a Chevy Tahoe during the three months from April 2023 through the end of June 2023 stood at $73,325, an eight percent year-over-year increase. This also represents a notable jump of 6.9 percent from the Tahoe’s Q1 ATP of $68,568.
Turning to units sold, the Chevy Tahoe saw quarterly sales climb 38 percent year-over-year compared to Q2 2022, reaching 29,258 vehicles. GM sales volume as a whole increased even faster, gaining 19 percent year-over-year as it rose from 578,507 vehicles in Q2 2022 to 689,095 units in Q2 2023.
Sales numbers still fall slightly short of Q2 sales prior to COVID-19, when second-quarter volume often reached the neighborhood of 750,000 vehicles in recent years.
While the Chevy Tahoe posted solid gains, it was not among the top three performers in the Chevy brand’s model lineup. The Chevy Trax took top place, with unit sales soaring 115 percent to 20,921 vehicles sold in Q2. The Chevy Bolt took second place, skyrocketing 113 percent year-over-year to 5,441 units. The third place fell to the Chevy Trailblazer, with 33,857 vehicles sold giving it a 112 percent rise. The Tahoe fell in the middle of the Chevy pack.
Chevy incentive spending for Q2 2023 was $1,924, up 9 percent compared to last year’s second quarter incentives of $1,770. Buick saw incentive spending rise by an even steeper 79 percent with incentives surging from $1,077 in 2022 to $1,923 this year.
Cadillac incentives rose 18 percent, while GMC incentives actually fell for Q2, dropping by 18 percent. Overall, GM incentives averaged across its four brands gained 14 percent year over year, rising from $1,754 to $2,006.
As a reminder, the upcoming 2024 Chevy Tahoe will introduce the mid-cycle refresh for the fifth generation of the full-size SUV. The refresh will include the debut of a new exterior, including a reworked front fascia, two-tiered headlights, an updated rear fascia and taillight clusters, and a new roof-mounted antenna fin on the roof.
Under the hood, the refreshed 2024 Chevy Tahoe will offer three powerplant choices, including the naturally aspirated 5.3L V8 L84 gasoline engine and the naturally aspirated 6.2L V8 L87 gasoline engine, which carry over from previous model years.
The 3.0L I6 LM2 turbodiesel Duramax offered previously is likely to be ousted from the lineup and replaced by the 3.0L I6 LZ0 turbodiesel Duramax engine. All engines will route power through the GM 10-speed automatic transmission, connected to either a rear-wheel or four-wheel drivetrain.
For structure, the 2024 Chevy Tahoe will continue to rely on the GM T1 platform. Production of the refreshed SUV will take place at the GM Arlington plant in Texas.
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Comments
The Tahoe, Suburban, Escalade and Yukon are flat out cash cows for GM. I hope to God they are always available with diesel and gasoline engines. If they go all EVs on these units kiss GMs profit bye bye!!!!!
The exterior will be changed as part of the refresh, and will have a new roof-mounted antenna fin in addition to a new front fascia, two-tiered headlamps, redesigned rear fascia, and taillight clusters.
Still waiting for an allocation on a 2023 RST and running out of time. Hope I can live with the “refreshed” 2024 ??
I do not know the timing of this particular refresh but normally model year changeovers occur around the second week of July. Unless this one is different, you’re looking at a 2024 for sure.
Customer sold orders were always supposed to get first priority over dealer stock when I was there but who knows what it is now.
Hope you get your vehicle soon.
I ordered a new Tahoe high country back in 04/2023, it’s still in code 1100. It seems like GM has no interest in building my Tahoe. I’m just about ready to buy a Navagator. So frustrating.
Super frustrating. I’ve owned every generation of the Tahoe and will likely stick with the brand but must say, this new normal is testing my patience. Thanks for the responses
oem”s should be charged with grand theft auto
I ordered my Chevy lt tahoe back in January 2023 still stuck in code 1100. Wish I could get an update if it will even be built before 2024 orders take place?