Brand Capturing Owners of Discontinued GM Marques and Non-GM Products
DETROIT – Nearly two out of three buyers for the Chevrolet Equinox and Traverse have traded in non-Chevrolet vehicles so far this year. In addition, nearly half of buyers traded in a non-GM vehicle.
Cadillac, Buick, and GMC trade-ins account for only 9 percent of purchases for both vehicles. The crossovers are helping Chevrolet retain owners of discontinued GM brands, which were offered in 11 percent of Equinox trade-ins and 9 percent of Traverse trade-ins.
The remaining 45 percent of Traverse buyers and 44 percent of Equinox buyers traded in a non-GM vehicle.
“Equinox and Traverse are attracting owners of competitive vehicles, including Fords, Toyotas, and Hondas to Chevrolet showrooms,” said Alan Batey, vice president, Chevrolet Sales and Service. “For these buyers, Equinox and Traverse offer the flexibility and fuel efficiency they have been looking for in a crossover, as well as the design, performance and value that define Chevrolet.”
Combined, Chevrolet sold more than 120,000 Equinox and Traverse models during the first six months of 2010 – an increase of approximately 80 percent calendar-year-to-date.
Introduced in late 2008 as an all-new model for 2009, Traverse is equipped with a 3.6L V-6 with direct injection and variable valve timing and six-speed automatic transmission. For front-wheel-drive models, Traverse delivers an EPA-estimated 24 mpg highway – more than any eight-passenger crossover.
Kelley Blue Book’s kbb.com named Traverse one of the Top 10 Best New Family Vehicles for 2009, the Insurance Institute for Highway Safety named Traverse a 2009 Top Safety Pick, and Consumer’s Digest named Traverse a Best Buy for 2009 and 2010.
The 2010 Equinox was introduced as an all-new model in the summer of 2009. Equipped with the standard 2.4L Ecotec direct injected I-4 engine and six-speed automatic, the front-wheel-drive Equinox delivers a segment-best 32 mpg highway, according to EPA estimates.
Consumer’s Digest named Equinox a 2010 Best Buy, and the Insurance Institute for Highway Safety named Equinox a 2010 Top Safety Pick. Since 2009, Chevrolet has announced three production increases for the Equinox to meet consumer demand.
The growth of Traverse and Equinox sales also solidified General Motors’ position as the leading automaker for crossover sales. Combined crossover sales for Chevrolet, Buick, Cadillac, and GMC increased 81 percent calendar-year-to-date, and have increased more than 30 percent for nine consecutive months.