New Denali Models Aim to Increase GMC’s Retail Market, Luxury Truck Share
GMC this morning revealed that it will be adding the Sierra Denali Ultimate and Canyon Denali to its growing lineup, an effort intended to both increase its luxury truck market share and its outreach to the wider retail market for new vehicle shoppers.
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GMC has already sold 455,717 vehicles in the United States through October, putting the brand well on pace to reach its best overall result for any single year since 2005. Of that figure, 392,935 vehicles were sold to retail customers, putting the brand’s sales at retail up 12.6% through ten months. About one-quarter of that figure is owed to vehicles of the Denali brand, which has been a significant factor in GMC maintaining a 15.5% share of the premium full-size truck market and an average transaction price above $55,000.
The addition of the Canyon Denali is practical if only for the fact that the mid-size pickup has been a massive hit with consumers since its reintroduction last year. GMC Canyon sales will likely fall somewhere near 30,000 units by year’s end and should increase over the next few years. If GMC can capitalize on the preference toward high-end pickups by converting a quarter of those sales to a model with a $50,000 starting price point, it will not only be able to increase its market share, but it will also increase profits.
The introduction of the Sierra Denali Ultimate seems to be a reactionary move geared at offsetting the introduction of Ford’s F-150 Limited trim. GMC spokeswoman Kelly Wysocki told Freep on Tuesday that the Denali Ultimate would likely start at a price point in the $60,000 range, putting it in direct competition with the F-150 Limited.
GMC aims to increase its retail sales from 3% of the industry in 2015 to 5% within a decade’s time. The introduction of these two new models seems to be the right step in that achievable direction.
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News Source: Freep
Josh Isbell is a contributor to The News Wheel and the digital marketing manager at Simi Valley Buick GMC. Simi Valley Buick GMC has been family owned and operated since 2011. We have a large selection of Buick cars and Crossovers as well a wide range of GMC Trucks and SUVs. We also have a great service department to help take care of your new or current vehicle, whether you bought it from us or not. Stop by Simi Valley Buick GMC for a test drive today!