Up next Ringbrothers to Unveil 1972 K5 Chevrolet Blazer at 2018 SEMA Show Published on October 05, 2018 Author Chris Hamilton Tags average cost of a truck, average price of a truck, average truck price, buyers of used trucks, buyers truck, pickup truck pricing, truck average, truck buyers, truck prices report, used truck buyers, Share article Facebook 0 Twitter 0 Mail 0 Report: Average Truck Buyers are Getting Priced Out of the Market There’s nothing more American than baseball, hotdogs, apple pie, and of course — pickup trucks. Unfortunately, it seems our national obsession with pickups is costing the average American dearly. A new report from the Detroit Free Press has found that soaring prices are making pickup trucks out of reach for the average buyer. In the last 10 years, the cost of a full-size pickup skyrocketed by almost 50%, the largest price increase of any vehicle segment. Citing data from Edmunds, the report found that the average price of a full-size light-duty pickup in 2018 came to $48,377, a 48% jump from 2008, and an almost 20% boost from just five years ago. The figures are nearly identical with Kelley Blue Book prices, which projects a $48,369 price tag for the average full-size pickup today. And yet, Kelley’s statistics show that most buyers expect to pay about $10,000 less than the current average price. While the soaring prices can be partly attributed to inflation, the rise in median household income for the average truck buyer failed to match the price increase over the last decade. In 2009, the median household income of prospective truck owners stood at $76,660. Today, that metric is now $100,305, a considerable increase but still not comparable to the 48% jump in sticker prices over the same period. The soaring cost of pickups has also led to a “gentrification” of the truck owner demographic. From being a work vehicle used by farmers and laborers, today’s owners tend to be college graduates with a higher household income than the average car buyer. In fact, the report shows that among full-size pickup owners, only 15% use it for business, while about 25% of heavy-duty owners use their vehicle for work. Just like the humble jeans, it seems the pickup truck has completed its transition from blue-collar ride to status symbol.
Testing the CHEAPEST Tools from Wish.com Thanks to Factor75 for sponsoring today’s video. Use code DONUT120 to get $120 off Factor at https://bit.ly/3PYCP7m HERE IN MY GARAGE… Curious what we […] Adam Johnson June 20, 2022 Department Industry News Latest Press Release Product Reviews Profiles Uncategorized Videos
2019 Wheel and Tire Guide for Classic Trucks Wheel and Tire Guide for Classics WHEN IT COMES TO WHEELS and tires, everyone certainly has their own style and favorite wheel company of choice. […] SOLOMON LUNGER November 29, 2019 C10 Builders Guide How to Industry News Latest Product Reviews Tech
New Truck News | Ford Shelby F-250 Super Baja Off-Road and Tow Monster, Jeep Responds to Cherokee Nation about Name and Ford's Inspiration for the F-150 Raptor's Exhaust Ford Shelby F-250 Super Baja aims to be both tow champion and off-road monster Taking the Super Duty to even greater off-road heights Shelby has […] Logan Wade March 03, 2021 Industry News Latest Truck Reviews Uncategorized
JACK's SPEED SHOP | ’69 F-100 Ranger There comes a time in life when a person starts to think about their future in a different way. Sometimes a young man decides it’s […] HUMBERTO ORTIZ June 01, 2022 F100 Builders F100 Builders Guide Features HEADLINE Industry News Latest Profiles Truck Reviews Uncategorized