March 1, 2007
All-new Chevrolet Silverado attracting older buyers, study shows
Toronto, Ontario – A Canadian study released by J.D. Power and Associates shows that the all-new 2007 Chevrolet Silverado 1500 pickup truck is attracting more male buyers and buyers who are slightly older than the typical light-duty, full-size pickup buyers.
About three of every ten Silverado 1500 transactions included a trade, about half of which were Chevrolet products. Almost one-third of customers have taken out a loan at the dealership, substantially above the segment trend, and the mix of cash buyers, including those who self-finance, has been more than twice the segment average.
In contrast, only half of Silverado customers have leased their vehicles, more than 20 percentage points below the segment average. The Silverado is commanding a retail transaction price more than $3,000 above the segment, which the study says is expected with a heavily-promoted, all-new model. The new Silverado 1500 is turning every 24 days, eleven days faster than the typical light-duty full-size pickup and faster than all its competitors, except for its sister truck GMC Sierra 1500.