GM says in its Q3 2023 presentation that the 2024 Chevy Trax has been a success for the automaker’s small SUV strategy, with 56 percent of buyers “coming from non-GM brands.”
Along with generating high levels of conquest sales, the 2024 Chevy Trax has also strongly restored the nameplate’s momentum, with sales climbing almost 500 percent year-over-year in Q3.
The presentation noted the Trax is helping The General with its strategy of “seizing profitable growth opportunity in affordable small SUVs.” The company says it has achieved somewhere in the neighborhood of 46 percent market share in the small utility segment, with the Chevy Trax, Buick Envista, and Chevy Trailblazer as key models in its expansion in the sector.
Earlier, Q2 2023 results indicated about half of 2024 Chevy Trax buyers in the U.S. for the quarter were new to GM vehicles, with the compact crossover as their first purchase of a GM brand. Conquest sales were even higher in South Korea, with roughly 67 percent of new Trax owners being newcomers to the automaker’s products.
Approximately 130,000 units of the new Chevy Trax sold globally between its March 2023 mass production launch and the end of August. Sales were highest in the U.S. and South Korea, with even more of the small, affordable crossover utility vehicles (CUVs) expected to sell as production ramps up further.
As a reminder, the 2024 Chevy Trax is motivated by the turbocharged 1.2L I3 LIH gasoline engine developing 137 horsepower and 162 pound-feet of torque. The engine is paired with the GM six-speed automatic transmission, while only a front-wheel drivetrain is available for the overhauled model.
The GM VSS-F vehicle set provides the bones under the 2024 Trax body panels. Production officially kicked off in February 2023 at the GM Changwon plant in South Korea, with pricing for the entry-level 1LS trim starting at $21,495, including the destination freight charge.