Customer Logins
Obtain the data you need to make the most informed decisions by accessing our extensive portfolio of information, analytics, and expertise. Sign in to the product or service center of your choice.
Customer LoginsChevrolet Colorado and GMC Canyon automotive launches are successful from several perspectives
The launches of the re-designed 2015 Chevrolet Colorado and GMC Canyon last October* and their initial performances in the US market are more interesting than the typical new vehicle launch, for several reasons:
- they were launched into a small and declining segment which had accounted for only 1.4% of the US market last summer
- they were launched in a segment that typically would feature superior fuel economy at a time when gas prices were plummeting
- they were launched without any expected competition from domestic competitors Ford and Ram, and,
- they were coming in to a unique environment that included one dominant model, the Toyota Tacoma (with more than 60% of segment registrations through last summer).
From several perspectives, the new GM products have done well. As mentioned, last August mid-size pickups captured just 1.4% of the US market, but by October this measure had risen to 1.8%, and this past January, these pickups captured 2.1% of the market, a 50% increase in share of industry from last summer (see the chart below). It is rare to see such a change - either way -- in segment share of industry in such a short period of time.
Secondly, while the segment has grown with the launch of the GM products, GM has also succeeded at capturing share from its two primary competitors, the Tacoma and Frontier. As the chart below shows, both Asian models have experienced significant declines in segment shares concurrent with the ascension of the Colorado and Canyon. Last August the Tacoma commanded an extraordinary 65.2% of the segment, but by this January that measure had dropped almost 20 points to 46.2% of segment. Frontier's share has also retreated, but not as dramatically.
While the new GM trucks have succeeded in expanding the segment and gaining share at the expense of their Asian rivals, IHS Automotive conquest data indicate that the vast majority of vehicles coming in on trade for the Colorado and Canyon are GM products. In fact, nine of the ten models most frequently traded for both the Colorado and Canyon are GM products, as shown on the lists below. The lone exception in both cases is the Tacoma.
*2015 Colorado and Canyon new registrations first appeared in September 2014, but the volumes in that month were very small, which is why October is considered the launch month
Tom Libby is manager, loyalty practice and industry analysis, IHS Automotive
Posted April 27, 2015