The NADA Used Car Guide publishes a depreciation report for the most of the main-stream vehicles. This year’s report contains information on the 2014 Chevy Silverado and the GMC Sierra. (We have requested data on the rest of the trucks, so we can get a bigger picture.)
This report takes a look at the vehicles that were all-new or with a significant update for the year. The sales data from across the nation is collected and analyzed. The most popular configuration with typically selected options are grouped together to come up with the results.
The MSRP of the 2014 Chevy Silverado Crew Cab LT 4WD with the 5.3L V8 engine with typically selected options was $42,015. The average trade-in value was $29,292. This represents a residual value of 69.7%. This was 6.2% higher than the 2013 Chevy Silverado. The new truck got more expensive, but can also retain it’s value better. The average residual value for the “Large Pickup Truck” segment is 64.7%, so the Chevy is well above average.
The 2014 GMC Sierra did even better. The MSRP of the 2014 GMC Sierra Crew Cab SLE 4WD with the 5.3L V8 engine with typically selected options was $43,830. The average trade-in value was $31,883. This represents a residual value of 72.7%. This was 7.2% higher than the 2013 GMC Sierra.
Happy New Year!
Watch this classic TFLtruck 0-60 MPH towing matchup that includes the 2014 Chevy Silverado and GMC Sierra (as well as theNissan Titan).
Andre Smirnov is a life-long automotive enthusiast, writer, reporter, and software engineer. He has been writing and reporting at TFL since 2011.