GM must walk a fine line with 2019 Chevrolet Silverado pricing to avoid cutting into GMC Sierra sales at the top and Chevy Colorado and GMC Caynon sales at the bottom.
DETROIT — General Motors is responding to a highly competitive full-size pickup market by holding the price of its redesigned 2019 Chevrolet Silverado close to that of the current generation.
GM will lower the starting price of some entry-level models by hundreds of dollars, while planning increases of as much as $1,000 for higher-end trims such as the High Country.
Pricing released by GM last week ranges from a Silverado Work Truck with a long bed starting at $29,795 to the High Country at $54,495, including shipping. The high-volume LT trim will be reduced as much as $700 from the current model, starting at $38,395.
The 2019 price range compares with 2018 models that sold for between $30,195 and $53,495. GM will no longer offer its entry-level Work Truck with a standard box, which sold for $29,795.
The pricing strategy should help GM satisfy its core work truck customers while reaching higher into the luxury truck segment with the High Country — something GM has been slower to do than Ford Motor Co. with its segment-leading F-150.
“GM is just getting its feet wet with the Chevrolet brand regarding luxury pickups,” said AutoPacific analyst Dave Sullivan. “They’re very cautious in how they’re approaching it, but I think they need to move a little faster. There appears to be no limit on what consumers are willing to pay.”
GM has a finer line to walk on pricing than Ford on full-size pickups. GM can’t go too high into the market and cut into GMC Sierra sales, or go too low and risk losing buyers to the Chevy Colorado and GMC Canyon midsize pickups — a segment where Ford and Fiat Chrysler Automobiles don’t offer products.
2019 Silverado pricing
|Regular cab long bed||Double cab standard bed||Crew cab short bed|
|Custom Trail Boss (4×4 only)||$40,995||$43,395|
|LT Trail Boss (4×4 only)||$47,395||$49,795|
|MSRP, including destination fee and excluding tax, title, license, optional equipment and dealer fees. 2WD unless otherwise noted|
The next-gen Silverado — expected in showrooms this fall — will compete against the redesigned Ram 1500 and the popular Ford F-150, which has continued to gain traction in recent years with its EcoBoost engine lineup and higher-priced entries.
Kelley Blue Book reports the average transaction price of a full-size pickup through the first five months of the year was $47,458. That’s in line with GM’s $47,537 average price on full-size pickups, but lower than Ford’s $49,000-plus.
“Ford has done a very good job of promoting the luxury end of their trucks,” said Rebecca Lindland, executive analyst at Kelley Blue Book.
The 2019 Silverado will be offered in eight trims with six engine and transmission combinations. Optional 4×4 will cost about $3,300, according to GM.
U.S. sales of the Silverado rose 1.9 percent to 585,864 last year while the large-pickup market grew 5.6 percent. During the first quarter, the Silverado’s U.S. deliveries grew 5.5 percent to 135,545 vehicles. GM is expected to release second-quarter sales results on Tuesday, July 3.
GM’s new Dynamic Fuel Management system on V-8 engines will deliver modest fuel economy gains in line with comparable Ford F-150 and Ram 1500 models, according to EPA estimates.
Silverado models with rear-wheel drive and the 5.3-liter V-8 with an eight-speed automatic will achieve an EPA-estimated 17 mpg city/23 highway/19 combined. That is 1 mpg better than the engine it replaces, according to GM.
Models with the 6.2-liter V-8, which will exclusively be offered in four-wheel drive, combined with a 10-speed automatic transmission will offer an EPA-estimated 16 mpg city/20 highway/17 combined.
Two V-8 engines will be the first engines produced for the pickup.
The lack of fuel economy gains is partly because of the design and larger size of the next-gen Silverado. But the pickup is about 450 pounds lighter than the outgoing version when configured as a crew cab short-bed with the 5.3-liter V-8 and maximum towing package.
“I think the real results will be what the customer sees doing things that they do every day, including towing and hauling things,” Sullivan said.
Dynamic Fuel Management continually adjusts the number of cylinders firing — down to two — based on performance needs.
EPA estimates for the other engines, including GM’s new 2.7-liter four-cylinder turbo engine and its Duramax 3.0-liter turbodiesel, are not yet available.
The pickup also will have increased payload and towing for certain models. The 6.2-liter V-8 will deliver a maximum of 12,200 pounds towing, up 500 pounds from a similarly equipped 2018 double-cab, 4wd model.