GM unveils new Chevrolet Tahoe, Suburban SUVs - CNBC

General Motors unveiled redesigned versions of the Chevrolet Suburban (pictured) and Chevrolet Tahoe on Dec. 10, 2019 in Detroit.

Michael Wayland / CNBC

DETROIT – General Motors unveiled new versions of its highly-profitable Chevrolet full-size SUVs Tuesday night that are larger, more tech-advanced and offer a wider range of choices for customers.

The 2021 Chevrolet Tahoe and 2021 Chevrolet Suburban share design cues from the recently-redesigned Chevrolet Silverado pickup, including boomerang LED signature lights and large prominent grilles with horizontal bars behind Chevy's bowtie emblem.

The redesigned SUVs, according to officials, feature redesigned interiors with far greater interior space than the current models, including 66% more cargo room behind the third row for Tahoe, and 19% more cargo space behind the first row for Suburban.

The vehicles are expected to arrive in U.S. dealerships next year in more trims than the current models. Pricing was not announced. Starting pricing of current Tahoe models range from about $50,000 to $69,500. Suburban pricing currently starts between roughly $53,000 and $72,500.

General Motors unveiled redesigned versions of the Chevrolet Suburban and Chevrolet Tahoe on Dec. 10, 2019 in Detroit.

Michael Wayland / CNBC

Tim Herrick, GM vice president of global product programs, described the redesigned vehicles as "the ultimate SUVs."

GM has dominated the highly-profitable full-size SUV segment with the Tahoe, Suburban as well as the GMC Yukon and Yukon XL and Cadillac Escalade and Escalade ESV.

The Tahoe and Suburban accounted for 45% of non-luxury full-size SUVs through October, according to Cox Automotive. GM during that same time period, including Chevy and GMC SUVs, accounted for 65%, or 188,520 units, of full-size non-luxury SUV sales in the U.S. The next closest competitor was Ford Motor at 23% with its redesigned Expedition.

GM President Mark Reuss during the unveiling Tuesday night said the automaker expects the vehicles to "continue to dominate" the segment.

"They're very important vehicles," said Michelle Krebs, executive analyst for Cox Automotive's Autotrader. "The full-size SUVs are probably the second-most important vehicles to GM in terms of profitability, next to the pickup trucks."

Redesigned versions of the Yukon and Escalade are expected to be unveiled early-next year. GM's full-size SUVs are manufactured at GM's Arlington Assembly in Texas, which has received more than $1.4 billion in investments since 2015.

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