Yesterday, General Motors Company (GM - Analyst Report) unveiled the 2015 versions of Yukon and Yukon XL as well as Chevrolet Tahoe and Suburban. All four cars feature EcoTec3 engines, which will likely make them the most fuel efficient in the large SUV segment.
While General Motors did not reveal the price of the new cars, they are expected to be available in the market from the first quarter of 2014. This is the 12th version of Chevrolet Suburban, which was launched in mid-1930s.
General Motors’ new Yukon and Yukon XL are more sophisticated and powerful than the previous versions and feature new fold-flat rear seats. Meanwhile, the new Tahoe and Suburban also have more sophisticated and practical designs along with better safety features.
The new cars are expected to further boost General Motors’ market share in the large SUV segment. The company is already a leader in the segment with the combined sales of General Motors and Chevrolet branded cars comprising almost three-fourth of the total market for full-sized SUVs.
The current versions of the four cars had combined sales of 125,000 units in the first eight months of 2013. Other cars in the segment include Ford Motor Co.’s (F - Analyst Report) Expedition, Nissan Motor Co. Ltd.’s (NSANY - Snapshot Report) Armada and Toyota Motor Corporation’s (TM - Analyst Report) Sequoia.
Last month, General Motors’ subsidiary Adam Opel AG announced the revamping of its mid-size car Insignia. The revamped car will feature an efficient turbo diesel or gasoline motor, simplified touch-pads and voice-activated navigation, radio and wireless controls.
Opel has been struggling to return to profit for over a decade now and refurbishing its existing car models is a key strategy adopted for the purpose. This is the eighth model among its eleven cars queued up for remodeling over the past three years.
General Motors and Ford currently carry a Zacks Rank #3 (Hold), while Nissan carries a Zacks Rank #2 (Buy).