Chevy Traverse Sales Drop 45 Percent As New Model Gets Delayed During Q1 2024

May 7, 2024 10:06 pm

Chevy Traverse sales decreased in the United States and Canada but increased in Mexico and South Korea during the first quarter of 2024, with 31 deliveries in Colombia.

Chevrolet Traverse Sales - Q1 2024 - United States

In the United States, Chevrolet Traverse deliveries totaled 17,475 units in Q1 2024, a decrease of about 45 percent compared to 31,533 units sold in Q1 2023.

MODEL	Q1 2024 / Q1 2023	Q1 2024	Q1 2023
TRAVERSE	-44.58%	17,475	31,533

Chevrolet Traverse Sales - Q1 2024 - Canada

In Canada, Chevrolet Traverse deliveries totaled 1,170 units in Q1 2024, a decrease of about 21 percent compared to 1,483 units sold in Q1 2023.

MODEL	Q1 2024 / Q1 2023	Q1 2024	Q1 2023
TRAVERSE	-21.11%	1,170	1,483

Chevrolet Traverse Sales - Q1 2024 - South Korea

In South Korea, Chevrolet Traverse deliveries totaled 314 units in Q1 2024, an increase of about 15 percent compared to 273 units sold in Q1 2023.

MODEL	Q1 2024 / Q1 2023	Q1 2024	Q1 2023
TRAVERSE	+15.02%	314	273

Chevrolet Traverse Sales - Q1 2024 - Mexico

In Mexico, Chevrolet Traverse deliveries totaled 152 units in Q1 2024, an increase of about 37 percent compared to 111 units sold in Q1 2023.

MODEL	Q1 2024 / Q1 2023	Q1 2024	Q1 2023
TRAVERSE	+36.94%	152	111

Chevrolet Traverse Sales - Q1 2024 - Colombia

In Colombia, Chevrolet Traverse deliveries totaled 31 units in Q1 2024, a decrease of about 49 percent compared to 61 units sold in Q1 2023.

MODEL	Q1 2024 / Q1 2023	Q1 2024	Q1 2023
TRAVERSE	-49.18%	31	61

Competitive Sales Comparison (USA)

Chevy Traverse sales put the Bow Tie’s three-row crossover in ninth place among 13 entries during Q1 2024 when ranked by sales volume, slipping a spot from the previous quarter.

The Ford Explorer (see running Ford Explorer sales) remained in the lead though sales were flat with 58,465 deliveries, followed by the Toyota Highlander in second place with a 42 percent slide to 32,033 units, and the Honda Pilot, up two spots to third, posted a 22 percent bump to 30,051 units. The Kia Telluride placed fourth with a six percent downturn to 25,578 units, while the VW Atlas posted a 38 percent jump to 25,326 units to place fifth. The Hyundai Palisade followed in sixth with a 29 percent uptick to 25,255, and the Toyota Grand Highlander placed seventh with 25,136 deliveries. Toyota’s two crossovers in this space are splitting sales between them, with any loss in Highlander sales likely going to the new, bigger Grand Highlander. The Nissan Pathfinder moved ahead of the Chevy Traverse to take eighth with a 20 percent dip to 19,012 units. The Traverse (see running Chevy Traverse sales), slipping to ninth, posted a 45 percent drop in sales to 17,475 units. The rest of the segment entries each recorded around 15K deliveries or less.

Sales Numbers - Mainstream Large Three-Row Crossovers - Q1 2024 - USA

MODEL	Q1 24 / Q1 23	Q1 24	Q1 23	Q1 24 SHARE	Q1 23 SHARE
FORD EXPLORER	+0.70%	58,465	58,061	20%	20%
TOYOTA HIGHLANDER	-42.12%	32,033	55,344	11%	19%
HONDA PILOT	+21.64%	30,051	24,704	10%	8%
KIA TELLURIDE	-5.93%	25,578	27,190	9%	9%
VOLKSWAGEN ATLAS	+38.31%	25,326	18,311	9%	6%
HYUNDAI PALISADE	+28.84%	25,255	19,602	9%	7%
TOYOTA GRAND HIGHLANDER	*	25,136	*	8%	0%
NISSAN PATHFINDER	-20.02%	19,012	23,770	6%	8%
CHEVROLET TRAVERSE	-44.58%	17,475	31,533	6%	11%
DODGE DURANGO	-13.39%	15,129	17,467	5%	6%
SUBARU ASCENT	-14.20%	12,683	14,782	4%	5%
MAZDA CX-90	+3,378.75%	9,984	287	3%	0%
MAZDA CX-9	-99.95%	3	6,666	0%	2%
TOTAL	-0.53%	296,130	297,717

The Traverse earned a six percent market share in its segment, down five percentage points year-over-year. The Explorer maintained a 16 percent segment share, while the Highlander posted an 11 percent share, down eight percentage points, and the Pilot held a 10 percent share, up two percentage points. The Telluride, Atlas, and Palisade each earned a nine percent share, with the Telluride maintaining, the Atlas up three percentage points, and the Palisade up two. The Grand Highlander posted an eight percent share, and the Pathfinder held a six percent share, down two percentage points. All other models each earned a five percent segment share or less.

Combining Chevy Traverse sales with those of the GMC Acadia (see running GMC Acadia sales), which we typically categorize in a smaller segment, gives GM 25,149 deliveries, though not enough to break into the top five.

Sales Numbers - GM Mainstream Three-Row Crossovers - Q1 2024 - USA

MODEL	Q1 24 / Q1 23	Q1 24	Q1 23
CHEVROLET TRAVERSE	-44.58%	17,475	31,533
GMC ACADIA	-51.87%	7,674	15,945
TOTAL	-47.03%	25,149	47,478

Hyundai Motor Group, represented by the Hyundai Palisade and Kia Telluride, saw 50,833 deliveries for a combined 18 percent segment share to place third overall.

Sales Numbers - Hyundai - Kia Mainstream Large Three-Row Crossovers - Q1 2024 - USA

MODEL	Q1 24 / Q1 23	Q1 24	Q1 23
KIA TELLURIDE	-5.93%	25,578	27,190
HYUNDAI PALISADE	+28.84%	25,255	19,602
TOTAL	+8.64%	50,833	46,792

Toyota’s two entries in this space, the Highlander and Grand Highlander, saw 57,169 combined deliveries for an 19 percent segment share to keep it second place behind Ford, but with 1.3K deliveries.

Sales Numbers - Toyota Mainstream Large Three-Row Crossovers - Q1 2024 - USA

MODEL	Q1 24 / Q1 23	Q1 24	Q1 23
TOYOTA HIGHLANDER	-42.12%	32,033	55,344
TOYOTA GRAND HIGHLANDER	*	25,136	*
TOTAL	+3.30%	57,169	55,344

Sales of the two Mazda entries, the CX-9 and CX-90, resulted in 9,987 cumulative deliveries for a combined three percent segment share, remaining in last place. As a reminder, the first-ever 2024 CX-90 indirectly replaces the discontinued 2023 CX-9.

Sales Numbers - Mazda Mainstream Three-Row Crossovers - Q1 2024 - USA

MODEL	Q1 24 / Q1 23	Q1 24	Q1 23
MAZDA CX-9	-99.95%	3	6,666
MAZDA CX-90	+3,378.75%	9,984	287
TOTAL	+43.64%	9,987	6,953

For informational and comparative purposes, we also provide sales figures for crossover models that overlap in price or seating capacity with large three-row crossovers like the Traverse, which are generally smaller but 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 are sold at a price point similar to the Traverse, including Nissan Murano, Ford Edge, GM’s own Chevy Blazer, and Hyundai Santa Fe.
Midsize and full-size crossover models are sold under the same name but whose sales are not broken out by their respective automakers, like the Jeep Grand Cherokee. Specifically, Jeep’s 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 - Q4 2023 - USA

MODEL	Q4 23 / Q4 22	Q4 23	Q4 22	YTD 23 / YTD 22	YTD 23	YTD 22
JEEP GRAND CHEROKEE	+21.50%	61,723	50,800	+9.51%	244,594	223,345
HYUNDAI SANTA FE	+5.83%	35,412	33,460	+10.02%	131,574	119,589
FORD EDGE	+98.39%	35,397	17,842	+24.14%	106,098	85,465
CHEVROLET BLAZER	+0.13%	16,653	16,631	-2.58%	65,511	67,246
GMC ACADIA	-22.72%	10,774	13,942	+25.10%	66,322	53,014
MITSUBISHI OUTLANDER	-14.17%	8,979	10,461	+3.81%	42,501	40,942
NISSAN MURANO	-37.24%	4,831	7,697	+3.53%	31,137	30,074

Sales of mainstream large three-row crossovers were flat 296,130 deliveries in Q1 2024, meaning Chevy Traverse sales significantly underperformed the segment average.

The GM Authority Take

Chevy Traverse sales performance fell during the first quarter of 2024, worse than the previous quarter. Even combining sales of GM’s three-row mainstream crossovers, the Traverse and GMC Acadia, still kept the automaker out of the top five. It was beaten by the likes of cross-town rival Ford, Toyota, Hyundai Motor Group, Honda, and VW.

Production woes, along with a generational changeover of the forthcoming all-new 2024 Chevy Traverse, are likely reasons for the poor sales showing of the Bow Tie brand’s largest crossover.

The UAW labor strike targeting the Lansing Delta Township plant in Michigan in late September is likely responsible for the delayed launch of the third-generation Traverse, with GM subsequently deciding to introduce a carryover 2024 Chevy Traverse Limited model. However, production of that was even delayed in February but restarted shortly after the assembly plant was idled due to a supply chain-related issue. Production of the all-new Traverse finally commenced in March, but deliveries were delayed as GM built up inventory before shipping models across the country. Even a check of the Chevy website showed inventory of the new model still in transit to dealers as of early May.

Once customers can start test-driving and taking delivery of the overhauled 2024 model, we expect Chevy Traverse sales to start rebounding. GM is counting on it as an attractive option in the marketplace, which should result in more interest, even from male customers, which should generate sales. The challenge of course is The General’s ability to make enough units to satisfy demand and get them to dealers. This is vital for the all-new model’s success.

About Chevrolet Traverse

The 2023 Chevy Traverse arrives essentially unchanged from the refreshed 2022 Chevy Traverse.

The 2024 Chevy Traverse Limited is simply a carryover from the 2023 model year.

Next-generation 2024 Chevy Traverse RS

This past summer, GM revealed the next-gen 2024 Chevy Traverse, introducing a design that evokes “a rugged, ready-for-anything presence” along with a fully overhauled cabin with a “best-in-class” 17.7-inch diagonal color infotainment touchscreen. Furthermore, the vaunted GM Super Cruise semi-autonomous driver assistance feature will be available for the first time ever on the Traverse, thanks to the adoption of GM’s new Global B electronic architecture, plus heated windshield wipers.

Four trim levels are currently available for the all-new 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. This marks the first unibody vehicle to wear the Z71 badge.

The High Country trim has been dropped, though a range-topping High Country trim may arrive soon. The forthcoming high-end Premier has been spotted in the wild. That was expected and is not surprising since the new 2024 Traverse RS is based on the forthcoming Premier trim.

The next-gen 2024 Traverse offers a single powertrain choice: an all-new turbocharged 2.5L I4 LK0 gasoline engine that develops 328 horsepower and 326 pound-feet of torque, representing an additional 18 horsepower and 60 pound-feet compared to the outgoing 3.6L V6 LFY engine – an impressive 22.5-percent increase in peak torque. 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, with all-wheel drive available on all trim levels as a “regular” system while the Z71 trim level exclusively sports an “off-road-capable” twin-clutch system.