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It's located on the passenger's side under the bumper towards the radiator. If you remove the access panel underneath you should be able to follow the wires to it.
I took mine to the dealer (under warranty) because the temp was always reading high. The warmer it was outside, the more off the temp was.
Dealer said per GM is was within tolerance for the temp to be off by like 5 degrees either way, if I remember correctly. Mainly what I remember is thinking that the accepted tolerance by GM was ridiculus. Every other vehicle I own or have owned with an outside temp gauge has always been dead on correct.
The dealer supposedly adjusted the temp guage somehow? But I don't think it's much better, if any.
Do you guys think replacing it would fix that problem? Do your gauges show the correct temp in all temp ranges (hot to cold)? Is my problem just because I have a dark colored vehicle?
I guess you always have to accept that the sensor sits in the engine bay but reads outside air temperature. It's always going to be off by a few degrees (on the + side).