Improved production over the course of the third quarter of 2022 caused Chevrolet Colorado’s sales numbers to rise. The news means that General Motors’ best-selling midsize pickup truck maintains second place in the growing segment. Although the Toyota Tacoma remains at the top, the Colorado significantly outperformed the segment average from July 1 to September 30.
Chevrolet Colorado US sales increased 92%
The midsize pickup truck segment grew 14% to 146,530 units in the third quarter of 2022, GM authority reports. In the third quarter of 2021, GM sold 12,696 Colorados in the US, increasing to 24,405 this year, an increase of 92%.
Despite a 10% decline in sales, the Tacoma remained in the lead with 67,224 units sold in the third quarter of 2022. The Jeep Gladiator came in third with 21,511 units, a 5% decrease. The Nissan Frontier remained in fourth place, up 13% to 13,187 units. The Ford Ranger suffered a 13% loss in sales and was in fifth place with 12,453 units sold. Rounding out the bottom was the GMC Canyon, GM’s Colorado corporate cousin, with 7,750 units sold and despite being dead last, this was up 41% year-over-year.
Currently, the share in the midsize truck segment is as follows, with the change from year to year:
- Toyota Tacoma: 46% (-2%)
- Chevrolet Colorado: 17% (+7%)
- Jeep Gladiator: 15% (-3%)
- Nissan Frontier: 9% (no change)
- GMC Cannon: 8% (-2%)
While third-quarter sales increased further in Canada, Chile, Colombia and Mexico, they declined 67% in South Korea. Only 584 Chevy Colorado sales were made compared to 1,816 in the third quarter of 2021.
Chevrolet Colorado supply barely kept up with third-quarter customer demand
GM struggled to keep up with growing demand for its popular midsize offering last quarter. A 60-day supply is the benchmark throughout the automotive industry. However, that was the pre-COVID standard, as Colorado’s supply was only a fraction of that.
In June, prior to the start of the third quarter, US Colorado supply was as low as eight days, compared to just six days the previous month. However, GM has invested heavily in its production plants to anticipate even higher sales in early 2023.
GM bets strongly on the new generation of Chevrolet Colorado
The second-generation Chevrolet Colorado has been on sale for seven years. Though still competitive, the outdated midsize pickup will be replaced in the first quarter of 2023. GM has invested $1 billion at its Wentzville, Missouri, plant for the new Colorado and its refreshed Canyon.
Production of most variants of the 2023 Chevy Colorado will begin next January. However, the long-awaited and breakthrough ZR2 model will arrive later in April 2023. In addition, GM is expanding its customer offerings as 200 new individual components will be added to the Chevrolet accessory catalog.
All-New 2023 Chevrolet Colorado
When it debuted in July, the next-generation Colorado featured an all-new powertrain, ditching the gasoline and diesel four-cylinder and the 3.6L LGZ V6. The new Colorado is powered by a turbocharged 2.7L four-cylinder gasoline engine, offering three levels of tuning. Of the five trim levels (WT, LT, Z71, ZR2, ZR2), the tunes are 237 or 310 hp with 259, 390 or 430 lb-ft of torque. There’s also only one transmission option: an eight-speed automatic.
Aside from the engine changes, almost everything was redone from the second-generation Colorado. Inside, a completely revised interior features upgraded onboard technology to provide a refined ride and help Colorado off-road. Additionally, the first Trail Boss package and ZR2 Desert Boss Special Edition will be available on the new Chevrolet Colorado.