The 2024 Chevy Silverado Still Struggles Against the Ford F-150
General Motors claims to have better sales than Ford, but it combines truck sales and models across each brand. So, Chevrolet Silverado, Silverado HD, GMC Sierra, etc sales are put together. That doesn’t seem fair and paints over the fact that the Chevy Silverado 1500 can’t catch the Ford F-150, yet.
The Ford F-150 still outsell the Chevy Silverado
The 2024 Chevy Silverado benefits from increasing sales this quarter, which is impressive. The Ford F-150 actually had a sales decline in the first quarter of the year, and the second quarter earnings will be released by the end of July.
If the F-150 continues to decline, then the Silverado will be in an excellent position to finally catch up.
However, it has a lot of ground to cover. In the first quarter of 2023, the F-150 moved 166,086 models, but during the first quarter of 2024, it only sold 145,200 trucks. This represents a 13% decrease.
During the first quarter of 2024, Chevrolet trucks accountsed for 128,926 sales. Only 84,586 of those models were Silverado 1500 trucks. It experienced a 2.9% decrease from the first quarter of 2023.
But in the second quarter of 2024, Chevrolet trucks sold 148,916 models, for an impressive increase. The Silverado 1500 accounts for 110,916 of those sales.
I don’t expect F-150 sales to decrease by over 50,000 models, but anything is possible in this economy. If the F-150 continues to decline, the Silverado 1500 could catch up. But we have to wait for Ford to release its second quarter report.
Rumors suggest that the F-150 suffers from declining sales due to supply chain constraints and rolling out a refreshed model. The 2023 F-150 factories had to be updated to make the new 2024 models.
Surging prices could be responsible for sales declines all across the industry. Rumors suggest that inventory levels for more expensive vehicles like trucks are piling up because people expect larger discounts soon.
The Ford F-150 has an MSRP of $36,965 and the 2024 Chevy Silverado has an MSRP of $36,800. These prices are extremely competitive without the destination fees and dealership markups added in.
Do you think the Silverado can catch the F-150? Stay tuned for updates.