The MotorTrend Truck Of The Year Is A Traditional Gas-Powered Chevy.

“The Colorado lineup’s performance on- and off-road, particularly the ZR2’s prowess, is nothing short of exceptional, rivaling even some of the most revered off-road vehicles available,” said Ed Loh, MotorTrend Group head of editorial in a statement. “Earning MotorTrend’s Truck of the Year award is a testament to the Colorado’s all-encompassing excellence across various terrains and utility needs.”

The ZR2 trim is for off-roading and is available on the Colorado and the Chevy Silverado.

The Colorado is the smaller truck. A Chevy Silverado or a Ford F-150 can stretch to about 20 feet long. A Colorado comes in under 18 feet, similar to a Ford Ranger.

Among electric trucks, the Colorado is most similar to a Rivian R1T. Electric versions of the F-150, Silverado, and
Tesla’s
Cybertruck are larger full-sized trucks.

The ZR2 trim comes with a 2.7-liter turbocharged engine putting out more than 300 horsepower. The maximum towing capacity for the ZR2 trail boss version is about 7,700 pounds.

The R1T dual-motor version stacks up well against that, putting out more than 500 horsepower. Its maximum towing capacity is listed at about 11,000 pounds. Not bad, but the Colorado’s trump card is its price. The R1T starts at about $73,000. A Colorado starts at about $30,000. The ZR2 trim starts at about $50,000. The traditional trucks are far more affordable.

Affordability is one thing the Chevy Colorado shares with MotorTrend’s 2024 car of the year: The Toyota Prius. It starts at just under $28,000. 

Focusing on affordability makes some sense these days. The average transaction price for a new car is roughly $48,000, according to Kelly Blue Book. At the end of 2019, before the pandemic and high inflation, it was about $39,000.

Affordability, as well as size, are still issues for the EV industry. There aren’t battery-powered cars and trucks in all desired sizes and prices. It’s an opportunity though, especially in pickups.

Americans love trucks. Full-size pickups account for almost 15% of total U.S. light vehicle sales in a given year. Small and mid-sized pickups account for another 4% or 5%.

Car makers started out attacking the larger full-size market with EVs first. There are electric versions of the Chevy Silverado and F-150. The Tesla Cybertruck is now on the roads too. Next, EV makers will have to produce more small and mid-size trucks. When they do they should focus on doing it cost-effectively.

The 2024 Truck of the Year competition illustrates something else investors should remember.
Ford Motor
and GM still dominate trucks. All the finalists were made by those two. One EV was a finalist: The GMC Hummer. That is a cool vehicle, but it can run north of $100,000.

Coming into Wednesday trading, GM stock is down about 14% over the past 12 months, while the
S&P 500
and
Dow Jones Industrial Average
were up about 16% and 8%, respectively.

Higher interest rates, which raise monthly payments for new cars, along with higher labor costs following the UAW contract negotiation have weighed on investor sentiment.

Write to Al Root at [email protected]