GM is having a great year thanks to its new electric truck offerings. The GMC Hummer EV and the Sierra EV Denali are fully booked, and the smaller Silverado is also taking a similar path.
General Motors knew how to take full advantage of the rapidly rising EV market. In the past few years, the brand launched three electric offerings, all of which were well received by the public, to the point where two of them are no longer available for order, due to overwhelming demand.
The only remaining option is the 2024 Chevrolet Silverado EV, but apparently, the truck is taking a similar path to that of its larger siblings. GM has announced in their Q3 2022 earnings report that reservations have risen dramatically during this year, reaching 170,000 in Q3, compared to 110,000 in Q1.
Another encouraging factor may have contributed greatly to the sales increase; the truck has received a power boost for the 2024 model. Now the engine produces up to 754 horsepower, making the pickup truck appealing to a wider range of customers.
In stark contrast to the Sierra EV Denali Edition 1 or the GMC Hummer EV, the Silverado is built to be an everyday vehicle, a truck that can do “truck stuff”. The large majority of reservation holders admitted that they chose the Silverado because it’s an electric truck capable of doing everyday work duties that you may expect from any other regular truck. So as production progresses, we should expect to see more and more Silverados towing stuff and going off-road.
However, the company admitted that there’s a hidden issue behind this large number of reservations; only 20 percent of reservation holders intend on actually buying one, meaning that the great majority are actually “phantom orders,”. Observers say that the most probable reason behind the large number of “phantom orders” is the long waiting time between the order placement and the actual delivery date. But in the end, GM is still confident of the new Silverado’s success, even though this may hurt the truck’s sales in the future.
It’s a well-known fact that a good product doesn’t need help to sell itself. The Silverado is a good example of that. Coverking is another great example!
Coverking is a leading car cover company, designing and producing high-quality custom-made car covers for more than 30 years. Coverking products are capable of protecting your car against all sorts of adverse weather conditions, dust, spills, and the negative effects of frequent use while giving your car an elegant fresh style at the same time. Get in touch with Coverking now and give your car the cover it deserves!
