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Pickup truck owners feeling the pinch of rising prices, CarGurus survey finds

Posted by Meg Bernazzani on March 29, 2019

Last month, CarGurus checked in with current and former pickup truck owners for the second year in a row to see if their attitudes toward the category, its brands, and their vehicles have changed. Overall, the survey uncovered that brand loyalty among pickup truck owners is beginning to decrease compared to one year ago. This becomes especially true when truck owners are asked about their brand loyalty in conjunction with increased prices. The survey results were as follows:

  • In 2019, 70% of truck owners said they would switch brands if their preferred brand raised pickup truck prices by $10,000, as compared to 64% in 2018
  • Current Toyota truck owners were the most brand-loyal with 41% not willing to consider another pickup truck brand
  • Current Chevrolet truck owners were the least brand-loyal with 28% not willing to consider another pickup truck brand, followed closely by Ford owners with 27%

CarGurus also asked pickup truck owners for their opinions about their vehicles, including factors such as price and technology features, as well as their future plans for purchasing another pickup truck. The findings included:

  • 68% of truck owners believe that the vehicles are overpriced
  • 54% noted they appreciate how high-tech their trucks have become
  • 48% of truck owners believe trucks aren’t made as well as they used to be
  • 17% of truck owners expressed they probably will not buy another pickup truck
  • Among former pickup truck owners who have switched to another category:
    • 37 % now own an SUV/crossover
    • 35% now own a sedan

For more information, view the infographic or read the full press release.

Topics: CarGurus data, pickup trucks, trends, truck owners