Revving Up a Record High: GM’s Most Powerful Year for Full-Size Trucks Since the Great Recession
General Motors Reaches New Heights with Strong Q3 Sales Report
The Great Recession of 2008 was a tough time for everyone, and General Motors (GM) was no exception. The company’s reliance on a government bailout still sparks controversy and jokes, but it’s a distant memory now. In fact, GM is having its best year to date when it comes to full-size truck sales, a milestone marked by its recently released Q3 2024 sales stats.
According to the report, GM claims top spot in the full-size SUV space and has grabbed an impressive 44% market share in the full-size pickup category. The Chevrolet Silverado and GMC Sierra are leading the charge, with the latter experiencing its best-ever sales quarter in terms of total units moved and retail volume.
A Look Back at the Past
Remember the trucks GM was producing back in 2007 before the recession hit? That was the last hurrah for the "Cateye" GMT800-platform Chevy Silverado, a model still beloved by many today. You could choose from a 4.3-liter V6 and several gas V8s in the half-ton category, with heavy-duty options featuring the gasoline-fed LBZ and LMM Duramax diesels, depending on the generation.
The Present and Future
Fast-forward to today, and things have changed. You can still opt for two V8s in the Silverado and Sierra 1500 – a 5.3-liter or 6.2-liter – but the V6 is no longer an option. The 3.0-liter Duramax I6 diesel and 2.7-liter turbo-four are additional choices in the light-duty lineup, while heavy-duty models offer a 6.6-liter gas option or the L5P Gen2 Duramax V8, which shares little with its 2007 counterpart except for displacement.
Investor Hopes and Expectations
GM’s investors have every reason to be pleased with Tuesday’s news. Pretax profits jumped 15.5% to $4.1 billion, a significant improvement from $3.6 billion last year, while company-wide revenue climbed 10% to $49 billion. Higher average transaction prices and cost management played a significant role in these positive results. It’s evident that GM is thrilled with the direction sales are heading, and investors should be too.
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