If you've priced pickup trucks recently, you're well aware of the high price tag many are bringing these days. But high prices aren't deterring buyers according to Cars.com's first-ever Pickup Truck Buying Guide. Researchers say truck prices grew 50% faster than average vehicle prices year over year, but for many consumers, the real value is in the perks and the 'cool factor'.
Chevrolet at the 2023 State Fair of Texas. Photo: CarPro.
“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,” said Aaron Bragman, Cars.com’s Detroit bureau chief. “And for good reason: Pickup trucks offer more versatility and utility and can haul, tow and go off-road — and are increasingly becoming great family vehicles. For shoppers ready to take the plunge, our new Pickup Truck Buying Guide helps them navigate the current market and narrow down their choices.”
Perhaps the popularity of pickups is no more apparent than at the State Fair of Texas. Check out pics we took at this year's Texas Auto Show, going on now through October 22, below:
Photos: Amy Plemons/CarPro.
Cars.Com Top Picks
To come up with its top picks, Cars.com considered more than 25 pickup trucks available on the market today. They evaluated features, performance and pricing, based on real-world testing by Cars.com’s team of editorial experts.
- Budget-Friendly: 2024 Ford Maverick
- Family: 2023 Ram 1500
- Towing, Light Duty: 2024 Chevrolet Silverado 1500
- Towing, Heavy Duty: 2023 Ford Super Duty F-250/350
- Luxury: 2023 Ram 1500 Limited, Limited Longhorn
- Off-Road: 2023 Ford F-150 Raptor
- Urban: 2024 Hyundai Santa Cruz
Raking in the Cachet
Cars.com notes that according to its recent survey, truck owners say they receive more compliments about their truck than other vehicles they’ve owned. Also, about 47% of consumers surveyed said pickup truck owners are more attractive.
“Pickups are a popular choice for many practical reasons, but the cultural and social influence of pickup trucks in America shouldn’t be underestimated — there’s a certain cachet that comes with being a pickup truck owner,” continued Bragman. “But trucks come at a steep price. Shoppers can prepare financially and consider all the options that fit their budget on Cars.com.”
Luxury Pricing Meets Rugged Reputations
Cars.com says a notable disparity has emerged between the price of pickup trucks compared to the average car. The average price tag on a new vehicle is over $50,000, up nearly 4% year over year in August. Compare that to the average price of new pickup trucks which is more than $60,000 — a nearly 6% surge year over year.
There's even a larger contrast between car and truck pricing in the used car market. While the average price of used vehicles is down almost 6% YOY, settling at over $30,000, used pickup trucks are seeing a substantial hike in value. The price for used trucks is currently averaging nearly $43,000, representing a significant 9% upswing year over year.
2023 Texas Truck Rodeo. Photo: Amy Plemons/CarPro.
Consumer Sentiment About Electric Pickup Trucks
Cars.com also gives some attention to electric pickups. It editors point out the contrast of the pros and cons - the pros being the benefits of not using fossil fuels, high power output and the potential for strong off-roading capabilities. The cons being limited towing range and payload capacity which its says are key selling points for truck owners.
They're also prices. Cars.com says the average price in August for a new electric pickup was more than $94,000 and that consumers have taken notice: Three in four pickup truck shoppers surveyed say they are not likely to purchase an EV for their next truck purchase, citing purchase price as their top concern (58%) followed by range limitations (49%).
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