Chevy is reportedly working on its latest version of the Silverado, a vehicle that may become the first American pickup to exceed a $100,000 price tag.
Chevy's new version of the Silverado comes with a “High Country trim package,” the automaker’s truck marketing chief Sandor Piszar said in an interview, according to the Detroit Bureau’s Paul Eisenstein.
“People want to trade up,” Piszar said. “If customers want a more expensive truck (then) we’ll deliver it.”
Piszar said the Silverado was a “major contributor” to General Motors.
The Silverado was named the second best-selling vehicle in America in 2018, according to Kelley Blue Book and Business Insider. Pickup trucks have surged in popularity in recent years. J.D. Power named the 2016 Chevy Silverado Heavy Duty one of the most dependable trucks.
However, the Silverado saw a slight decrease in sales last year from the year prior while Ford’s F-Series saw a rise. In January, The North American Truck of the Year went to the Ram 1500. The truck’s biggest competition came from the Chevy Silverado and the GMC Sierra 1500.
Ford has rolled out a limited edition of its F-Series which can be sold for up to $95,000.
AutoTrends Consulting analyst Joe Phillippi said some may want to shell out the money for the truck, especially if they spend a lot of time in the automobile.
“For people who make their living spending all their time in one of these trucks, they’re not afraid to spend the money to get the best truck they can buy,” Phillippi said.
On Tuesday, General Motors announced it was investing more than $4.2 billion in assembly plants in Indiana, Michigan and Texas to prepare for the launch of its next generation of pickups and SUVs. GM said it has invested more than $23 billion in its U.S. manufacturing base since 2009.
The Associated Press contributed to this report.