Chevy Traverse Sales Gain Market Share During Q2 2023

Chevy Traverse sales increased in the United States, Canada, and South Korea, but decreased in Mexico and Colombia during the second quarter of 2023.

Chevrolet Traverse Sales - Q2 2023 - United States

In the United States, Chevrolet Traverse deliveries totaled 37,148 units in Q2 2023, an increase of about 78 percent compared to 20,842 units sold in Q2 2022.

In the first six months of the year, Traverse sales increased about 55 percent to 68,681 units.

Chevrolet Traverse Sales - Q2 2023 - Canada

In Canada, Chevrolet Traverse deliveries totaled 1,467 units in Q2 2023, an increase of about 30 percent compared to 1,131 units sold in Q2 2022.

In the first six months of the year, Traverse sales increased about 74 percent to 2,950 units.

Chevrolet Traverse Sales - Q2 2023 - South Korea

In South Korea, Chevrolet Traverse deliveries totaled 335 units in Q2 2023, an increase of about 22 percent compared to 275 units sold in Q2 2022.

In the first six months of the year, Traverse sales increased about 61 percent to 608 units.

Chevrolet Traverse Sales - Q2 2023 - Mexico

In Mexico, Chevrolet Traverse deliveries totaled 117 units in Q2 2023, a decrease of about 13 percent compared to 134 units sold in Q2 2022.

In the first six months of the year, Traverse sales decreased about 19 percent to 228 units.

Chevrolet Traverse Sales - Q2 2023 - Colombia

In Colombia, Chevrolet Traverse deliveries totaled 34 units in Q2 2023, a decrease of about 64 percent compared to 94 units sold in Q2 2022.

In the first six months of the year, Traverse sales decreased about 25 percent to 95 units.

Competitive Sales Comparison (USA)

Chevy Traverse sales kept the Bow Tie’s three-row full-size crossover in third place among a dozen entries during the second quarter of 2023 when ranked by sales volume. The Toyota Highlander took first with a 13 percent sales bump to 57,920 units. The Ford Explorer (see running Ford Explorer sales) placed second with a 23 percent drop to 46,362 units, followed by the Chevy Traverse (see running Chevy Traverse sales) in third with a 78 percent jump to 37,148 units. The Honda Pilot placed fourth with a 38 percent swell to 31,079 units, with the all-new fourth-generation 2023 Honda Pilot gaining steam. The Kia Telluride took fifth with a 13 percent increase to 28,094 units. The rest of the segment entries each recorded less than 25K deliveries.

Sales Numbers - Mainstream Large Three-Row Crossovers - Q2 2023 - USA

From a segment share standpoint, the Traverse earned a 12 percent share, up a segment-highest four percentage points year-over-year. The Highlander maintained a 19 percent segment share, while the Explorer held a 15 percent share, down a segment-worst seven percentage points. The Pilot posted a 10 percent share, up two percentage points. The Telluride maintained a nine percent share.

The mainstream large three-row crossover segment grew 15 percent to 307,292 units in Q2 2023, meaning Chevy Traverse sales significantly outperformed the segment average.

It’s worth noting that combining sales of the Chevy Traverse with those of the GMC Acadia (see running GMC Acadia sales), which we typically categorize as being in a smaller segment, gives GM 61,353 deliveries to take first place, propelling GM to first place and dethroning Toyota to second.

Sales Numbers - GM Mainstream Three-Row Crossovers - Q2 2023 - USA

Meanwhile, the Hyundai-Kia conglomerate – represented by the Kia Telluride and Hyundai Palisade –  saw 47,939 deliveries for a combined 15 percent segment share, taking third ahead of Ford.

Sales Numbers - Hyundai - Kia Mainstream Large Three-Row Crossovers - Q2 2023 - USA

Sales of the two Mazda entries, the CX-9 and CX-90, results in 12,940 cumulative deliveries for a combined four percent segment share, remaining in last place. As a reminder, the new 2024 Mazda CX-90 is the Japanese automaker’s new flagship three-row crossover, indirectly replacing the CX-9, which has been discontinued following the 2023 model year.

Sales Numbers - Mazda Mainstream Three-Row Crossovers - Q2 2023 - USA

For informational and comparative purposes, we also provide sales figures for crossover models that overlap with large three-row crossovers like the Traverse – either in price or seating capacity. These crossovers, which are generally smaller than the Traverse, are often cross-shopped with larger models like the Traverse, and include:

• Midsize crossovers that offer three rows of seating, such as the GMC Acadia, Kia Sorento, and Mitsubishi Outlander.
• Midsize crossovers with two rows of seating sold at a similar price point to the Traverse, including Nissan Murano, Ford Edge, GM’s own Chevy Blazer, and Hyundai Santa Fe.
• Midsize and full-size crossover models that are sold under the same name, but whose sales are not broken out by their respective automaker, like the Jeep Grand Cherokee. Specifically, Jeep parent company, Stellantis, does not individually report sales figures of the two-row Grand Cherokee vs. that of the three-row Grand Cherokee L.

Sales Numbers - Overlapping Crossover Sales - Q2 2023 - USA

Adding Blazer sales to those of the Traverse and Acadia keeps The General solidly in first place when ranked by sales volume with 79,433 combined deliveries.

Sales Numbers - GM Midsize and Full-Size CUVs - Q2 2023 - USA

 

The GM Authority Take

Chevy Traverse sales continued to recover from inventory constraints during the second quarter of 2023, maintaining third from last quarter among several very strong competitors. This strong performance was despite availability at dealerships remaining tight.

In fact, Traverse new-vehicle inventory supply stood at just 19 days in April, 17 days in May, and then 16 days in June. It was at 18 days supply as of July 1^st. As a reminder, a 60-day supply is considered optimal in the U.S. auto industry by many automotive sales organizations such as the National Automotive Dealers Association (NADA). That means a 60-day inventory level gives dealerships enough inventory on hand to sustain sales volume for roughly the next 60 days, or nearly two months.

About Chevy Traverse

The 2023 Chevy Traverse arrives largely unchanged from the refreshed 2022 Chevy Traverse as the current generation’s final model year before the all-new gen lands in 2022.

The current Traverse received high praise from. For instasnce, the 2020 Chevy Traverse was listed as one of the best certified pre-owned three-row crossovers by Kelley Blue Book. Additionally, Consumer Reports hailed the 2022 Chevy Traverse as the easiest model to drive in the midsize three-row utility segment. In January Consumer Reports gave the 2023 Chevy Traverse a “recommended” rating.

In July, GM revealed the all-new 2024 Chevy Traverse. Key features include a design that evokes “a rugged, ready-for-anything presence,” a fully overhauled cabin with a “best-in-class” 17.7-inch diagonal color infotainment touchscreen, and the addition of the vaunted GM Super Cruise system for the first time ever.

Four trim levels are available for the 2024 Chevy Traverse, including LS, LT, and RS, plus a new off-road focused Z71 trim for the first time ever on the three-row large crossover. The High Country trim has been dropped, though we still expect the third-gen Chevy Traverse to offer a high-end Premier trim sometime in the near future.

The 2024 Traverse offers a single powertrain choice in the form of the all-new turbocharged 2.5L I4 LK0 gasoline engine developing 315 horsepower and 317 pound-feet of torque, representing a 19 percent boost in torque compared to the outgoing 3.6L V6 LFY engine. The maximum trailering rating for the all-new, third-generation Traverse stays the same at 5,000 pounds.

An eight-speed automatic transmission drives the front wheels as standard on the 2024 Traverse while all-wheel drive is optional, with Chevy offering a Z71-exclusive “off-road-capable” twin-clutch AWD system.

Production of 2024 Chevy Traverse is expected to kick off in December.

While the Traverse continues to be recognized for its value, getting inventory supply levels restored is and will remain be key to GM’s mainstream, three-row full-size crossover taking on competitors, especially with the all-new, next-generation model.

About The Numbers

• All percent change figures compared to Chevy Traverse sales for Q2 2022, unless noted otherwise
• In the United States, there were 77 selling days for Q2 2023 and 77 selling days for Q2 2022
• Ford Explorer sales figures are comprised of the Ford Explorer and its police-duty variant, the Ford Police Interceptor Utility. In previous quarters, Police Interceptor Utility sales were reported as a separate line item, but Ford is now folding its sales into the Explorer line item.
• Jeep Grand Cherokee sales consist of the two-row Grand Cherokee and the three-row Grand Cherokee L.
• GM Q2 2023 sales reports
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