Anyone who keeps up with the world of pickup trucks knows that prices have ballooned in recent years, but a recent Wall Street Journal article put some real numbers together on big dollar trucks.
The WSJ cites JD Power data saying that the average transaction price for a pickup truck in America is $44,000, a full 61 percent more than 10 years ago. For some context, the average price for all vehicles sold has risen by 28 percent over the same time period, up to $32,500.
Trucks are big business for automakers in North America, especially for GM, Fiat Chrysler Automobiles and Ford, which make up 90 percent of the half-ton pickup market in the US. And these brands depend on truck sales.
Pickup truck sales at GM and Ford provided the majority of both brand’s profits in 2018, even though truck sales only made up 10 to 15 percent of overall sales.
So it’s clear that pickup truck sales are more important than ever, which is driving the innovation we have seen lately in the pickup industry with features like multi-function tailgates, large touchscreens, and more luxury.
The question now becomes, where is the ceiling in pickup truck prices? Because so far, it seems like we haven’t found it. Let us know what you think in the comments below.
[Source: Wall Street Journal]