GMC is aiming to be the sales leader in the U.S. electric truck market following the launch of the new Sierra EV pickup. The new electrified Sierra joins the GMC Hummer EV Pickup and Hummer EV SUV in the brand’s battery-driven utility lineup. The Sierra EV will offer more affordable model variants next year, while the first units of the Denali Edition 1 model, priced at roughly $100,000, is reaching customers now.
“We believe this is a totally different proposition than anything that’s been launched by anybody else before,” said GMC global vice president Duncan Aldred in a recent interview with CNBC.
To achieve the title of sales leader, GMC will need to surpass Ford, Rivian, and Tesla, although no specific timeline was provided with regard to when Big Red hopes to take the title of best-selling EV truck brand. According to Aldred, while customers are anticipated to cross-shop the Tesla Cybertruck with the new Sierra EV, he points out that many Cybertruck buyers are simply Tesla customers, while many Sierra buyers previously owned a non-GMC brand vehicle.
“What we know is about 70 percent of Cybertruck buyers are Tesla owners,” Aldred said. “So, they’re not necessarily truck buyers, they’re Tesla buyers.”
The electric truck market is still in its early stages, and overall EV adoption is slower than initially anticipated. The all-electric pickup truck market accounted for roughly 38,500 vehicles during the first half of 2024, per CNBC. Ford led the segment with 15,645 units of the F-150 Lightning, followed by the Tesla Cybertruck at nearly 11,600 units. Meanwhile, the Hummer EV lagged behind at less than 1,500 units, the majority of which were delivered during Q2. Looking ahead, Big Red plans to accelerate Sierra EV production, as well as launch several new trims, including the new non-Edition 1 Denali trim, as well as an off-roader-spec AT4.
“We intend to be the retail leader in the electric vehicle truck space, and we’re going to have a fuller breadth of product to really help us achieve that,” said senior marketing manager for GMC trucks and SUVs, Patrick Finnegan.
Although the Sierra EV shares many features with the Chevy Silverado EV, with both built on the GM Ultium platform, the Sierra EV is more luxurious and includes more premium features.
“Chevrolet really focused on the fleet side. We’re really focused on the retail side, same as on [GMC’s internal combustion engine] trucks,” Aldred said. “When you look at it, the EV truck space is a premium space.” Aldred’s comments likely indicate that GMC will not offer its own version of the Chevy Silverado EV WT (Work Truck) any time soon.
GMC’s strategy includes maintaining high transaction prices and expanding its product range to attract new customers. Roughly 34 percent of GMC’s retail sales are its high-end Denali trims, up from 30 percent in 2019.
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Comments
GMC trucks are very expensive. I doubt they can reach Ford sales at all.
At $100,000 they think this? Sure maybe if Ferrari, Lamborghini, and Rolls-Royce made a pickup truck worth $300k it will be best selling next to those but at that price compared to a $50k F150? Yeah…grab hold of that sky high price tag and come back down to earth GM.
When electric Yukon???`
@Chuck
Yukon and Tahoe EV’s will sell like hotcakes.
Imagine driving such big bold and comfortable vehicles and saving Thousands each year on Gasoline and maintenance.
The more you driver and charge at home, the more you can save.
My Buddy traded in his Sierra Denali for a Cybertruck (Drives 18/20K per Year) and figured he will be saving thousands each year while still charging at some Fast chargers on the road. He thought I was full of it when I told him how much he would be saving. It is actually pretty mind blowing, especially for drivers that put on serious miles per year.
Most Consumers honestly have no idea the savings you can get because the MSM keeps shoving FUD down our throats about EV’s so they can keep raking in the advertising money from Big Oil so they don’t die off.
I personalty know of at least four that are patiently waiting to trade in their newish Yukons/Tahoes in for EV versions. And two are waiting on their Slade IQ orders to come in.
Some of them actually tow boats but not cross country so the Range is NO big Deal for them specifically.
If you tow long distances then you will need to stay with ICE for now because Battery Tech is just not there yet.
Like GMC comes close to outselling Chevy. What a stupid thing to say. Another brain-dead (or spaced-out) auto exec. They’re a dime a dozen these days. Not a single one has a clue.
@Beachy29579
Total agree with you! These executives all need fired at GM!! They are throwing away what MADE GM, actually GM! There is nothing in their portfolio that screams, performance, muscle, fun factor, coolness and aggressive appearance, other than the Corvette. These electric vehicles are nowhere near the coming future with the prices they are at! The average American can barely afford groceries, let alone a $100k electric toaster!!
Also, the Cadillacs are also very intriguing, but the Escalade V has gotten well out of hand at over $160K!!!! The CT4/CT5 Blackwings are also very nice, but prices have soared on them as well. You can get a base Corvette for the price of a CT4 Blackwing
All you have to do is look at Mary Barra for confirmation of your statement. Her and the overpaid dunce at FORD who managed to lose over $1 Billion in the 4th quarter of 2023 due to EV’s .
So GM thinks more buyers will chose the more expensive Sierra EV over the somewhat cheaper Silverado EV truck?
That is a very interesting take.
Oh boy, here’s another vehicle that rural GMC dealers will resist having to put on their Floor Plans. They already know they are White Elephants and won’t sell where people need and use a Truck and chargers are few and far between despite the Trillions of dollars from the Feds that drove inflation even higher and has resulted, at last count, with about 8 charging stations being built.
Remember when everybody was buying diesel cars and trucks because diesel was so much cheaper than gas. How’s that been working out? Now you also need to buy DEF.
EVS are not the future hybrid is