Chevy Traverse Sales Take Second Place Thanks to Toyota, Sort Of, During Q3 2023 (Read On)

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

Chevrolet Traverse Sales - Q3 2023 - United States

In the United States, Chevrolet Traverse deliveries totaled 32,318 units in Q3 2023, an increase of about 27 percent compared to 25,388 units sold in Q3 2022.

In the first nine months of the year, Traverse sales increased about 45 percent to 100,999 units.

Chevrolet Traverse Sales - Q3 2023 - Canada

In Canada, Chevrolet Traverse deliveries totaled 1,432 units in Q3 2023, an increase of about 43 percent compared to 998 units sold in Q3 2022.

In the first nine months of the year, Traverse sales increased about 63 percent to 4,382 units.

Chevrolet Traverse Sales - Q3 2023 - South Korea

In South Korea, Chevrolet Traverse deliveries totaled 227 units in Q3 2023, a decrease of about 76 percent compared to 932 units sold in Q3 2022.

In the first nine months of the year, Traverse sales decreased about 36 percent to 835 units.

Chevrolet Traverse Sales - Q3 2023 - Mexico

In Mexico, Chevrolet Traverse deliveries totaled 144 units in Q3 2023, an increase of about 57 percent compared to 92 units sold in Q3 2022.

In the first nine months of the year, Traverse sales decreased about 1 percent to 372 units.

Chevrolet Traverse Sales - Q3 2023 - Colombia

In Colombia, Chevrolet Traverse deliveries totaled 39 units in Q3 2023, a decrease of about 26 percent compared to 53 units sold in Q3 2022.

In the first nine months of the year, Traverse sales decreased about 26 percent to 134 units.

Competitive Sales Comparison (USA)

Chevy Traverse sales bumped the Bow Tie’s three-row full-size crossover up to second place among a dozen entries during the third quarter of 2023 when ranked by sales volume, though there’s a reason for moving up a spot from last quarter and placing ahead of Toyota this time around. We’ll explain below.

The Ford Explorer (see running Ford Explorer sales) moved up a spot, too, taking first place in spite of a 37 percent drop to 33,709 units. The Chevy Traverse (see running Chevy Traverse sales) followed in second place with a 27 percent bump to 32,318 units, and within 1.4K deliveries of first. The Kia Telluride placed third with a 13 percent swell to 28,697 units, while the Honda Pilot took fourth with a three percent dip to 26,614 units. The VW Atlas placed fifth with a similar three slip to 24,908 units. The rest of the segment entries each recorded less than 20K deliveries.

The big news we referenced above is that the ever-popular Toyota Highlander is now joined by first-ever 2025 Toyota Grand Highlander, a direct rival to the Chevy Traverse. While the two models share a name, the Grand Highlander is quite a bit larger than the “regular” Highlander. In fact, the Grand Highlander is mechanically similar to the first-ever 2024 Lexus TX, which debuted over the summer as a direct rival to the Cadillac XT6.

The point of all that is that sales of Toyota entry in this space is now split between its two Highlander models. So while the Highlander placed seventh this time around with a 44 percent drop in sales to 17,997, the Grand Highlander moved 15,554 units for a combined 33,551 deliveries. Overall, that places Toyota ahead of the Traverse, something the Japanese automaker has done relatively consistently over the past few years with the Highlander. For its part, however, Traverse was within about 1.2K deliveries of outselling the Highlander duo.

Having two entries now puts Toyota in the company of the Hyundai-Kia conglomerate, which fields the Hyundai Palisade and the Kia Telluride. The Palisade placed sixth with a four percent sales slip to 19,410, joining the third place Telluride for a combined sales volume of 48,107, taking the segment crown.

Sales Numbers - Mainstream Large Three-Row Crossovers - Q3 2023 - USA

From a segment share standpoint, the Traverse earned a 13 percent share, up three percentage points year-over-year. The Explorer posted a 13 percent segment share as well, down seven percentage points. The Telluride held an 11 point share, up one percentage point, while the Pilot and Atlas each maintained a 10 percent share.

The mainstream large three-row crossover segment contracted four percent to 254,764 units in Q3 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 47,716 deliveries to keep GM in second, behind Hyundai-Kia by less than 400 units but ahead of Ford and the Toyotas.

Incidentally, Ford beats out Toyota even with it having just one model in this segment, though it wins by a mere 158 units.

Sales Numbers - GM Mainstream Three-Row Crossovers - Q3 2023 - USA

Hyundai-Kia, represented by the Hyundai Palisade and Kia Telluride, saw 48,107 deliveries for a combined 19 percent segment share for first place overall.

Sales Numbers - Hyundai - Kia Mainstream Large Three-Row Crossovers - Q3 2023 - USA

Toyota’s two entries in this space, the Highlander and Grand Highlander, saw 33,551 combined deliveries for a 13 percent segment share, just behind Ford.

Sales Numbers - Toyota Mainstream Large Three-Row Crossovers - Q3 2023 - USA

Sales of the two Mazda entries, the CX-9 and CX-90, results in 11,645 cumulative deliveries for a combined five 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 - Q3 2023 - USA

For informational and comparative purposes, we also provide sales figures for crossover models that overlap  – either in price or seating capacity – with large three-row crossovers like the Traverse. 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 - Q3 2023 - USA

The GM Authority Take

Chevy Traverse sales performance was quite healthy during the third quarter of 2023, outperforming its segment in spite of inventory constraints, while nipping at the heels of Toyota’s Highlander family. Combining sales of both of GM’s three-row mainstream crossovers, the Traverse and GMC Acadia, puts The General within striking distance of the Hyundai-Kia duo and their Hyundai Palisade and the Kia Telluride.

However, Toyota’s addition of a model to its lineup in the form of the Grand Highlander just goes to show how lucrative it is. Stellantis did this nearly three years ago when it debuted the Jeep Grand Cherokee L, an extended length, three-row variant of its popular Jeep Grand Cherokee in order to join in on this segment alongside the Dodge Durango. However, as we noted above, Stellantis does not break out sales data for the two-row Grand Cherokee vs. that of the three-row Grand Cherokee L, so the latter is not included in our quarterly report.

GM’s answer hasn’t been to similarly fill out its lineup, giving the full-size, three-row Traverse a midsize, two-row variant in the form of the Blazer. In spite of the Traverse’s solid sales, supply remains low, continuing to potentially limit would-be gains. Inventory was at 19 days supply in August, up just one day from the 18 days supply in July. 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.

We posit that Traverse sales will continue to grow in the future, as Chevy launches the overhauled 2024 Traverse as a substantially more attractive product that should result in more interest and in a higher sales volume. That growth, however, won’t come before a dip typically associated with the launch of an all-new model. Making enough units to satisfy demand and getting them to dealers will be vital for the next-gen model’s success, especially given that GM expects the 2024 Traverse to attract more male buyers.

About Chevrolet 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 the first half of 2023.

The current Traverse received high praise from. For instance, 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.

Last week, GM Authority was first to report that GM will offer a carryover 2024 Chevy Traverse Limited model prior to the introduction of the next-generation version of the three-row large crossover. It’s currently unclear if production of the 2024 Traverse will begin in December, as was originally anticipated, though that seems unlikely at this point.

About The Numbers

• All percent change figures compared to Chevy Traverse sales for Q3 2022, unless noted otherwise
• In the United States, there were 78 selling days for Q3 2023 and 77 selling days for Q3 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.
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