The GMC Canyon was among the fastest-selling new vehicles during the month of March, 2024. Notably, the GMC Canyon is spending less time on the market than some high-demand luxury vehicles, including the Cadillac Escalade. The GMC Canyon’s impressive sales performance was recorded amid a slowdown in new car sales, which have taken a 26-percent dip, all while used cars are flying off lots 31 percent faster.
The new study was published by car search and research company iSeeCars, which analyzed over 463,000 new and used car sales. The number of days each was listed for sale on iSeeCars.com was aggregated at the model level, with heavy-duty vehicles, low-volume vehicles, and models no longer in production prior to the 2023 model year excluded from analysis.
The analysis places the GMC Canyon in fifth place on the list of the top-20 fastest-selling new cars during the month of March 2024, with GMC Canyon units spending an average of 23.0 days on dealer lots before arriving in buyer driveways. The GMC Canyon was ranked below the fourth-place Toyota Sienna Hybrid (average of 22.9 days on market) and above the sixth-placed Chevy Colorado (average of 23.8 days on market).
This performance is particularly notable in a market that iSeeCars Executive Analyst Karl Brauer describes as similar to watching “a giant machine slowly wind down,” with the pace of new car sales decelerating amid rising interest rates and the sting of inflation.
The analysis also highlights a shift in consumer preferences, with new hybrids leading the pack in sales speed at just 49.5 days on the market on average, while electric vehicles (EVs) lag behind, sitting on lots for an average of 70.6 days before being sold. The average new car was calculated to take 54 days to sell.
Also notable is a decrease in the time to sell used cars, with the average used car selling in just 34.2 days. Hybrids were once again the quick-sellers among used vehicles, taking 30.4 days on average, while EVs lagged behind at 36.4 days on average.
As a reminder, the GMC Canyon features the 2.7L I4 L3B gasoline TurboMax engine, rated at 310 horsepower and 430 pound-feet of torque. The updated 31XX-2 platform provides the underpinnings, while production takes place at the GM Wentzville plant in Missouri.
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Comments
Oh, I thought it was a Mitsubishi Outlander when I first looked at it with the placement of those front headlights..
That is all well and good but when are going to start delivery? Ordered my Denali back in November. Still no word. Of course there was the little issue with a Hail Storm.
Whoever is in charge of storage of new vehicles should be fired. At least they could put up a tent like protective cover over the vehicles awaiting delivery. No smarts. GM should get their head in the game and keep up with their competitors.
They can take orders, they just can’t deliver. Ordered a Canyon Denali early November. Supposedly built end of March. My dealer can’t get any answers on why it’s sitting in Missouri still.