One of the biggest questions facing the compact truck market is pricing, and GM has answered with the starting MSRP for the 2015 Chevy Colorado and GMC Canyon. The 2015 Chevy Colorado will start at $20,100 plus a $895 destination fee, while the 2015 GMC Canyon starts at $20,995, plus a $925 destination.
The $895 difference between the Chevy and GMC grant you 16-inch alloy wheels, LED running lights, and a four-way power driver’s seat. The base price is for the extended cab model with the 2.5 liter inline four-cylinder engine; pricing for the V6 and diesel models haven’t been offered yet, though the top-of-the-line GMC Canyon $36,950 with four-wheel drive, a crew cab, and the more powerful V6.
What really matters here, however, is how the Colorado and Canyon stand up to the Chevy Silverado and GMC Sierra. The full-size Silverado starts at $25,575, while the Sierra sets you back $26,075. So you’re talking about a 20% difference in price between the smaller and bigger trucks, which leaves some room for options in the budget. However, this doesn’t take into account GM’s often-generous truck incentives.
For example, right now, there are between $750 and $3,500 in incentives on the just-released 2014 Chevy Silverado. Of course GM will likely incenticize the Colorado and Canyon too, and most competitors are pricing their products in the same general area, but with much older products.
With GM offering the first fresh compact truck in close to a decade, it could steal a big chunk of this dwindling market…and perhaps even give it some new life as well. It might not have the market to itself for long though, with a new Ford Ranger caught testing on US roads.