General Motors’ premium brand, GMC, is making a bold move to dominate the U.S. electric truck market with the launch of its new electric Sierra pickup. The Sierra EV joins GMC’s growing lineup of electric trucks, which already includes the Hummer EV in both SUV and pickup forms. As GMC rolls out lower-priced variants of the Sierra EV next year, the automaker anticipates that this model will become the brand’s top seller within its electric vehicle lineup. The high-end “Edition 1” of the Sierra EV, priced around $100,000, has already begun reaching customers.
Duncan Aldred, the global vice president of GMC, expressed confidence in the Sierra EV’s market potential, highlighting that it offers a unique proposition compared to other vehicles currently available. “We believe this is a totally different proposition than anything that’s been launched by anybody else before. So, we’re confident about the demand,” Aldred stated during an event at GM’s proving grounds in suburban Detroit.
While GMC is optimistic about the Sierra EV’s future, the brand has not disclosed a specific timeline for when it expects to lead retail electric truck sales. To achieve this goal, GMC will need to outperform not only its sibling, the Chevrolet Silverado EV, but also strong competitors like Ford’s F-150 Lightning, Rivian’s R1T, and Tesla’s Cybertruck, which Motor Intelligence reports led electric truck sales in the second quarter.
Aldred acknowledged that there will likely be some cross-shopping between the Sierra EV and the Tesla Cybertruck, although he does not see them as direct competitors despite their similar price points. He cited internal data indicating that many Cybertruck buyers are already Tesla owners, with roughly 70% of them having previously purchased a Tesla vehicle. In contrast, about 80% of GMC’s Sierra EV reservation holders previously owned non-GMC vehicles, suggesting that the Sierra EV may attract a different demographic.
“What we know is about 70% of Cybertruck buyers are Tesla owners,” Aldred noted during a media event. “So, they’re not necessarily truck buyers, they’re Tesla buyers.”
With the introduction of the Sierra EV, GMC aims to carve out a significant share of the burgeoning electric truck market. The brand’s strategy hinges on the unique appeal of its vehicles and the ability to attract a diverse group of customers who are looking for more than just another electric truck. As the market for electric trucks continues to grow, GMC’s success with the Sierra EV will be closely watched by industry observers and competitors alike.
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