When grouping the Chevy Silverado 1500, Chevy Silverado HD, and Chevy Silverado MD together, one might find that the truck’s average transaction prices have slowly but surely risen over the past few fiscal quarters. Now, it appears as though Q4 2023 was no different, as the ATP of the Chevy Silverado increased once again.
According to a report from Cox Automotive, the Chevy Silverado saw a 3.6 percent ATP rise to $61,250. Meanwhile, sales of the truck rose 1.1 percent to 140,359 units in Q4 2023.
It’s worth noting that sales of the Bow Tie brand fell 0.5 percent to 406,848 units in Q4 2023, while overall General Motors sales stood at a 0.2 percent gain to 619,684 units.
Of course, this slight but notable rise in average transaction prices is likely due to the Silverado’s widely expected annual price increases. In addition, the 2023 calendar year was a record year for Chevy accessories sales, which may have also contributed to higher transaction prices.
As a reminder, the Chevy Silverado 1500 boasts a number of engine options, including the turbocharged 2.7L I4 L3B gasoline engine, naturally aspirated 5.3L V8 L84 gasoline engine, naturally aspirated 6.2L V8 L87 gasoline engine, and the 3.0L I6 LZ0 turbodiesel Duramax.
Meanwhile, the Chevy Silverado HD features just two powerplant options, including the standard naturally aspirated 6.6L V8 L8T gasoline engine and the optional 6.6L V8 L5P turbodiesel Duramax engine.
Finally, the Chevy Silverado MD is available exclusively with the 6.6L V8 L5D turbodiesel Duramax engine.
In regard to structure, the Silverado 1500 and Silverado HD ride on separate variants of the GM T1 platform. Production of the former takes place at the GM Fort Wayne plant in Indiana, the GM Oshawa plant in Canada, and the GM Silao plant in Mexico, while production of the latter takes place at the GM Flint plant in Michigan and the GM Oshawa plant in Canada.
Of course, the Silverado MD rides on a unique platform jointly developed by Navistar and GM, and is produced at the Navistar plant located in Springfield, Ohio.
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Comments
Going to be A lot of trucks sitting on dealerships lots if GM doesn’t adjust their prices, Terrible.
Seems to be a dichotomy – prices are very, very high- yet Silverado sales are not down, but the Ford F- 150 was down 14% last month.
By April or early May, you will see very high rebates on all vehicles, not just trucks! The string is about to break………
What are you listening to Trump and hoping with him that the economy crashes? Sorry to tell you but all factors point to an improving economy and interest rates starting to decrease. There’s enough demand from people holding out on vehicle purchases over the past few years so you’re not going to see much more for discounts.
But you will continue to see discounts on the 2.7l silverados and sierras to help bring down GMs CAFE numbers.
i drive a lot around the eastern country. i can tell you outside certain pockets (such as the one i live in the most) people are absolutely not buying fancy suvs or trucks. i have never seen that many old cars and new cheap hundais rolling across state lines. people are flocking to 25-30k autos in record numbers.
so the only way sales dont drop off a cliff is if all those housewives with the denalis get tired of them when they hit 2 years old and get their husbands to buy them a new one… which ironically will be exactly the same as their old one…
also all new construction that i see is literally apartments or cheap townhomes. SFHs are hardly seen and if they are, they are almost like row housing on 200sq ft lot. on the commercial side warehousing and distribution is seeking labor all over with signs literally plastered roadside but guess what… what do you think they pay. you swinging a 70k truck on 18 an hour.. or even 22 an hour. you aint. and thats what the jobs being offered are at. they are jobs, but they are nowhere near to cover vehicle costs these days.
im going from fl to ma and il very often and everywhere in between. i see it with my own eyes. income is very concentrated these days. you have to travel to get the overall picture. and i dont mean fly over stuff…
things arent bad they arent good and no, not sustainable. question is how long till they break and who will break first. oems or buyers.
@GMC Fan
I am a Republican and can see “blatantly” how terrible it is out there for the average AMERICAN household. Interest rates on houses and cars have pushed ALL TIME HIGHs in housing/automobile payments. Groceries have ‘soared” sky high, and gas is still over $1.00 higher here in Midwest then it was 4 years ago. Yes, the string is about to break, and when it does, I’ll be here chuckling and thinking, I told you so!
So, would I like a man back into office who did more for this country than any other president in the last 40 years!! ABSOLUTLEY!!!
I like your comments. But, you’re actually optimistic that agent orange is going to fix things? Get another booster.
@anonymous guest
He fixed it once, whose to say he can’t do it again??? My bet is on him, then the lying, stealing, Alzheimer’s patient we have in there now!
Sorry for the snark, I’ll try to be succinct:
Establishment holds a center comfort zone by playing with the fringes. Fixing is the issue this time. Donald is effectively an ‘all the king’s horses and men’ type. Fringe tricks will continue against his political base. Comfort zone is last decade, he won’t be able to tape it back together. Establishment needs to fall off the fringe for a true alternative center to take hold.
If anybody did any research you would find out that even current interest rates are historically low.
Google is your friend for education on this subject.