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Less Than 20% of the Chevrolet Silverado EV Reservation Holders Intend to Buy the Truck

People are wise not to place all the eggs in the same basket. It’s no surprise that many electric pickup truck prospective buyers hold reservations for multiple different models, intending to buy the one that is first available. In this game, the Chevrolet Silverado EV is on the losing end, with less than 20% of reservation holders intending to actually buy the truck.
Less than 20% of the Chevrolet Silverado EV reservation holders intend to buy the truck 6 photos
Less than 20% of the Chevrolet Silverado EV reservation holders intend to buy the truckLess than 20% of the Chevrolet Silverado EV reservation holders intend to buy the truckChevrolet Silverado EV RSTChevrolet Silverado EV RSTChevrolet Silverado EV RST
A recent Recurrent survey shows that consumers paid the deposit to reserve multiple EV trucks due to the uncertain delivery time frame. According to the study, “about 89% of Tesla Cybertruck reservations overlap with another truck pre-order, and 100% of Ford F-150 and Chevrolet Silverado reservations also pre-ordered another vehicle on this list.”

This finding casts a shadow over how realistic are the pre-order figures that carmakers like to boast about. In the case of the Chevrolet Silverado EV, they’re highly unrealistic. While Tesla’s existing vehicles have a 100% order fulfillment, the figures go to 90% for the Ford F-150 Lightning, 80% for Rivian R1T, VW ID.4, and Ford Mustang Mach-E, and 70% in the case of the Tesla Cybertruck. The big loser in this picture is the Chevrolet Silverado EV, with less than 20% of reservation holders serious about making a purchase.

This is explainable in the case of Teslas, as the reservation requires customers to pay a $250 non-refundable fee. For the Silverado, the 2024 delivery timeline is too far away to commit to, and that 100% overlap figure above says the reservation holders probably expect to have other options by then.

Since we’re talking about the overlap figure, we’ve seen that the reservations for Rivian R1T, Tesla Cybertruck, Chevrolet Silverado EV, and Ford F-150 Lightning overlap. The same happens with Volkswagen ID.4 and Hyundai Ioniq 5. But Tesla reservations do not overlap with other brands, showing clear brand loyalty. This is also explainable by the fact that people 100% intend to buy those products, so they only place a reservation for one model.

 
 
 
 
 

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