General Motors Company (NYSE:GM) has reported that they now have a 74% market share for full-size SUVs as of August. GM’s sales of full-size SUVs combined makes up the revenue of a Fortune 400 company alone. Chevrolet and GMC together are responsible for “three of every four vehicles sold.”
In 2013 so far, Chevrolet and GMC sold 125,000 Chevrolet Tahoes, Suburbans, GMC Yukons, and GMC Yukon XLs. GMC is planning to reveal all-new 2015 models of the four vehicles.
Today General Motors launched all-new versions of their full-sized GMC Yukon, Chevrolet Tahoe, and Suburban SUVs today.
“This is an important and profitable segment and we have set the bar high to ensure we provide our customers with great quality and performance they expect and deserve,” stated GM Chief Financial Officer Dan Ammann.
The 2015 SUVs have several new improvements like an increase in rear seat legroom and the third row seats fold down flat. The current models have seats that fold down, but have to be removed.
The SUVs have an improved 5.3-liter V8 engine that has high-tech features like cylinder deactivation where half the engine’s cylinders are shut off when the full power is not needed. The engine also has direct fuel injection and variable valve timing, according to CNN. The new SUVs also has a new six-speed transmission.
[Source/Image Credit: GM]