GM Chevy Trax, Buick Envista crossovers priced for affordability

Detroit – general motors It positions two new crossovers from Chevrolet and Buick as its answer to the affordability issues left by cheaper, discontinued sedans.

Affordability has become a growing concern among investors and consumers. Cox Automotive reports that the average price paid for a new car this year has ballooned to over $48,600. That’s about $5,200 higher than two years ago and $11,700 higher than five years ago. High prices have driven nearly 10% of conventional new-car buyers out of the market, according to Cox.

General Motors, like its crosstown rivals, has largely discontinued traditional sedans in favor of the ever-popular crossovers. The problem is, those small cars were among the cheapest in the industry and hadn’t been replaced by anything close in size and price.

While non-domestic automakers such as Toyota Motor And Hyundai Motor While sedans continue to be offered, prices have been steadily rising and these options have been in low availability in recent years due to supply chain issues.

“Automakers have made a choice to focus, especially during the chip crisis, to focus on bigger, more expensive and more profitable cars,” said Michelle Krebs, executive analyst at Cox Automotive. “But there is clearly a demand for less expensive cars.”

Pricing for General Motors’ new 2024 Buick Invista crossover and redesigned 2024 Chevrolet Trax start at $22,400 and $20,400, respectively. This makes it competitively priced with sedans from other automakers.

The Trax and Envista are sedan-like in looks and style but are roomier on the inside like the company’s current smaller crossover.

Buick and Chevrolet executives say they expect the cars to be among the best sellers as production ramps up and imports of crossovers from factories in South Korea.

“If every vehicle you sell is worth $60,000, you’re really limiting the ability to attract new buyers to the brand. A car like the Invista is strategically important…that opens up a whole new audience for us,” Sam Russell, Buick marketing director, said. for CNBC.

The Invista is expected to be among Buick’s best-selling vehicles, according to Russell, who described some potential customers as “orphans” amid the scarcity of sedans.

Chevrolet, which has discontinued all of its sedans except the Malibu, expects the Trax—a familiar name for the brand, but an all-new car—to be its third best-selling vehicle. That would put the Trax behind the full-size Silverado pickup and Equinox crossover but ahead of the Chevrolet Tahoe which reported sales of more than 105,000 units last year.

“We’re very optimistic about the car, no doubt, but I’m really optimistic about this notion that Chevrolet hasn’t lost our minds,” Chevy chief marketing officer Steve Majoros said of its less-expensive trim. “These are the cars Americans want, and Chevrolet hasn’t forgotten that.”

Invista and Trax models feature more standard safety and convenience features than GM has historically offered in entry-level vehicles. Both cars are powered by a 1.2-liter turbocharged four-cylinder engine, which produces 137 horsepower and 162 pound-feet of torque.

The new Trax and Envista are sister vehicles as they share the same platform and have similar interiors and silhouettes. Vehicles are distinguished by their front and rear styling modifications as well as vehicle controls.

“The entry-level vehicle evolves from typical sedans and hatchbacks with luxurious styling to attractive alternatives,” said Paul Watey, director of industry insights for General Motors. “GM has reimagined the roles of the latest Trax and Invista and resulted in expressive options for entry-level buyers.” AutoPacific. “They should both revive GM’s sales at the lower end of the portfolio and start refilling some of those entry-level models that were cleaned away.”

Both cars are priced under the more traditional, smaller crossovers of both brands: the Chevy Trailblazer and Buick Encore GX. These vehicles sit more upright and have a more compact profile compared to the longer and roomier Trax and Envista models. However, the Trailblazer and Encore GX do not offer all-wheel drive.

Executives at both Chevrolet and Buick said they believe the new vehicles will attract a large number of new buyers to the brands, helping increase sales and market share for General Motors.

“Encore GX is what we call our loyalty game. The role it should play is building on the success of the first generation,” said Russell Buick. Invista, the vision is that this is the champion of conquest.

GM’s sales were in the US during the first half of this year More than 18% were sold to nearly 1.3 million vehicles, as supply chain problems in the auto industry stabilized.