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According to Aaron Bragman, Cars.com's Detroit bureau chief, "Pickup trucks are consistently some of the most searched vehicles on Cars.com. In fact, searches for new pickups — despite the increasingly high price — are as strong as ever, up 4% over 2022." He added that pickups offer more versatility and utility and can haul, tow and go off-road — and are increasingly becoming great family vehicles.
Cars.com's Top Picks for 2023 include the 2024 Ford Maverick (Budget-Friendly), 2023 Ram 1500 (Family), 2024 Chevrolet Silverado 1500 (Towing, Light Duty), 2023 Ford Super Duty F-250/350 (Towing, Heavy Duty), 2023 Ram 1500 Limited/Limited Longhorn (Luxury), 2023 Ford F-150 Raptor (Off-Road) and 2024 Hyundai Santa Cruz (Urban).
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A recent survey by Cars.com revealed that truck owners get more compliments about their truck than other vehicles they've owned, and about 47% of consumers say pickup truck owners are more attractive. Bragman noted that pickups have a certain cachet that comes with being a pickup truck owner but come at a steep price.
The automotive market continues to fluctuate with a notable disparity between the price of pickup trucks compared to the average car; the average price tag on a new vehicle is over $50,000 while new pickup trucks have soared to more than $60,000 — a nearly 6% surge YOY. Used vehicles are down almost 6% YOY at over $30,000 while used pickup trucks are seeing a substantial hike in value at nearly $43,000 — representing a significant 9% upswing YOY.
Electric pickup trucks have also started to enter the market but come with limited towing range and payload capacity as well as an average price tag of more than $94,000 in August 2023; three in four pickup truck shoppers surveyed say they are not likely to purchase an EV for their next truck purchase due to purchase price and range limitations being their top concerns.
For more information on Cars.com's Pickup Truck Buying Guide or car-buying advice and tips visit Cars.com/News
Filed Under: Business
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