Affordability Doesn’t Seem to Be the Problem for the GMC Canyon
Vehicles with sales figures that lag behind the competition usually present the least value for the price. While it’s debatable whether that value is real or perceived, what’s valuable to the consumer is what counts. However, most critics agree that the 2023 GMC Canyon represents a midsize pickup truck with substantial value, so why is it last in sales?
GMC Canyon Q1 2023 sales compared to other midsize trucks
According to GM Authority, GMC Canyon sales fell by 18.57% in the first quarter of 2023 in the United States. However, the Canyon held steady at the four-percent market share it enjoyed for the same period last year.
For reference, GM Authority excludes the Honda Ridgeline from its “Midsize Mainstream Pickup Trucks” list and focuses on the following body-on-frame designs, listed in order of Q1 market share:
- Toyota Tacoma – 47%
- Nissan Frontier – 15%
- Jeep Gladiator – 12%
- Chevrolet Colorado – 12%
- Ford Ranger – 10%
- GMC Canyon – 4%
Is the GMC Canyon’s price too high?
Often, higher-priced trucks sell fewer units regardless of their value. GMC lists the base model 2023 Canyon Elevation two-wheel drive MSRP at $38,395, excluding dealer fees. While all trims offer the same 2.7-liter turbocharged four-cylinder engine and eight-speed automatic transmission, the upper trim levels only come with four-wheel drive.
The rest of the 2023 GMC Canyon lineup includes the following model pricing:
- AT4 – $45,395
- Denali – $52,495
- AT4X – $56,995
While the GMC Canyon’s base price is higher than some models, it’s still less expensive than the 2023 Jeep Gladiator. It’s also more affordable than the 2023 Honda Ridgeline, which, according to Pickup Truck Talk, also saw higher sales than the Canyon.
Is the 2023 GMC Canyon a good midsize pickup truck?
MotorTrend places the 2023 GMC Canyon in second place, ahead of all the midsize pickup trucks listed here and the Hyundai Santa Cruz. Only the 2023 Ford Maverick ranked higher on its list. In addition, Kelley Blue Book ranks the Canyon third behind the Tacoma and Colorado praising its off-road ability, easy-to-use technology, and the available Denali trim luxury.
So, while the 2023 Canyon’s price puts it near the top of the midsize pickup truck segment, it’s still highly regarded by automotive critics and praised for its combination of luxury and off-road prowess. Something else must cause buyers to shy away from the Canyon between “Wow, this is a sweet truck” and putting pen to paper to complete the deal.
Are other factors holding this truck back?
One apparent reason for GMC Canyon’s low sales is its aging design. Before the GMC Canyon’s third-generation release in 2023, the GMC Canyon’s last update occurred in 2015. Considering the advancements in technology, driver assist features, and consumer expectations, the 2022 GMC Canyon left a lot of potential buyers wanting more.
Ultimately, General Motors hopes the new 2023 Canyon will improve upon the truck’s existing sales rankings and gain market share. The problem with Q1 2023 is that the new and improved Canyon failed to debut in time to capitalize, only arriving on dealer lots in the late spring.
Only time will tell if consumers find the improvements GMC made worth the higher price.