The Chevy Colorado, a popular midsize truck, has made waves in the automotive industry with its outstanding performance in Q2. After a difficult first quarter of sales this year, the Colorado appeared to be losing ground to its rivals in the midsize truck sector. However, the tides have shifted for Colorado sales figures, with Q2 results painting a different and brighter image.

In this article, we will speculate about the Colorado’s revival and if it can continue its upward trajectory for the rest of the year as well as look at some new features for the 2023 model year.

Q2 numbers for Chevy Colorado sales are very good

After a rough Q1 2023, during which Chevy Colorado sales were markedly reduced due to lowered inventory levels, the brand’s midsize pickup truck has reclaimed its long-held second-place spot for the month of May. According to GM Authority, in the United States, Chevrolet Colorado deliveries totaled 19,909 units in Q2 2023, putting it solidly back into second place above Nissan, Jeep, and Ford.

Colorado sales plummeted over 40% to 13,256 units in the first quarter of 2023. As a result of drastically decreased inventory levels, the midsize pickup lost 4% of its market share from Q1 2022 statistics to 12%, leading some to speculate that the Colorado lost its second-place position permanently. For comparison, the Colorado sold 20,602 units in the fourth quarter of 2022, accounting for 15% of the midsize truck market.

Why did Chevy Colorado sales plummet in Q1 of this year?

Lower inventory levels may have been to blame for Chevrolet Colorado’s sales performance being poor in Q1. This drop in inventory is mainly a result of GM’s slow rollout of the next-generation 2023 Chevy Colorado. As such, with inventory levels slowly rising across the U.S., sales of the third-gen Colorado are likely to follow suit.

In terms of the redesign, the 2023 Colorado outperforms the previous model significantly. The truck’s exterior, interior, and powertrain have all been completely revamped in an attempt to push it past the Tacoma, which has a significant lead in the midsize truck segment.

Overview of features for the 2023 Colorado

According to Car and Driver, it’s been seven years since it received an update, but the Chevy Colorado enters its third generation for 2023 with a larger width and wheelbase. It has a turbocharged 2.7-liter inline-four engine and an eight-speed automatic transmission. Horsepower and torque vary depending on the Colorado’s trim level, from a 237-hp base engine to the ZR2’s high-output 310-hp version with a muscular 430 lb-ft of torque.

New for 2023 is a new exterior, revised powertrain options, and a dramatically enhanced interior. The Colorado is marketed as a crew cab with a five-foot-two-inch long bed, although it is still available in rear- or four-wheel-drive variants. The V6 and Duramax diesel powertrains used in the previous generation truck are no longer available. As for the newly designed interior, there’s a new center console, a new gauge cluster, and an infotainment screen. The ZR2 models come standard with a shallow 45-inch-wide lockable storage box in the tailgate.

One of the best features of the Colorado is its towing capacity. It has a maximum towing capacity of 7,700 pounds, which is the largest towing capability in the mid-size truck market. While the standard 237-hp engine in the WT and LT trims can only 3500 pounds, the Colorado Trail Boss and the Z71 can pull up to 7,700 pounds. That outperforms any Jeep Gladiator, Nissan Frontier, Ford Ranger, or Toyota Tacoma. 

For now, the Colorado is holding onto its second-place spot. However, it is still far behind the Toyota Tacoma.  If the volatile nature of the automotive market as of late proves anything, it’s that nothing is sure, and anyone could take first place come Q3.