Credit: Shutterstock photoU.S. automaker General Motors Co. ( GM ) unveiled its 2019 Chevrolet Silverado full-size pickup truck at an event in Texas. While all of the vehicle's specifications will be available when the model makes its debut at the North American International Auto Show in Detroit next month, the company shared a few details.
The next-generation full-size pickup truck
The Detroit-based automaker completely redesigned and refurbished the Chevy Silverado after conducting a survey of more than 7,000 customers. This model will have a high-strength steel bed with a mixed-metal body of aluminium and steel. Compared to the current model, the new model will be lighter (the company did not specify by how much), thereby ensuring improved performance with fuel economy.
Come the Detroit auto show, the pickup truck will have an expanded engine, transmission combinations and convenient features. The pictures presented at the Texas event revealed the new model has LED headlights and blacked-out front framework.
Besides General Motors, Ford Motor Co. ( F ) and FiatChrysler Automobiles ( FCAU ) will also take part in the auto show next month. While Ford looks to revamp its F-150 pickup, Chrysler will take the wraps off its next-generation Ram 1500 truck at the show.
General Motors' modifications may help it gain the upper hand against the likes of Ford's F-Series (top-selling vehicle in the U.S.) and Chrysler's Ram pickup. The truck displayed at the Texas Motor event was the 2019 Silverado LT Trailboss. It is just one of many Silverado models the company will offer in 2019.
Last word
Silverado is the best-selling vehicle for the company and the second-best-selling vehicle in the U.S. market. Silverado's year-to-date sales amounted to 518,000 units, which was a meagre 0.5% decline compared with last year. On the other hand, Ford's F-Series is the market leader with 807,000 units sold (10% gain year over year). Chrysler's Ram truck also had success this year. Ram's year-to-date sales came in at roughly 456,000 units, which represents a 3% sales increase.
Car manufacturers make more than $10,000 in profit on full-size pickups compared to $1,500 to $2,000 on passenger sedans. Furthermore, the average price of a truck is approximately $40,000, whereas it is only about $19,000 for a compact sedan. Pickup trucks are undoubtedly one of the fastest growing and most lucrative divisions in the industry. Stay tuned for further updates from the Detroit auto show.
Disclosure : I do not hold any positions in the stocks mentioned in this article.
This article first appeared on GuruFocus .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
