US Pick-Up Truck Competition is a Complex Horse Race
The US Marketplace for pick-up trucks is still seeing double digit sales increases this year with individual brands jumping as much 30% in the rebound from the pandemic. In the face of production delays due to chip shortages, and demand driven sky-high price increases, the truck game continues to be the most reliable high margin business for the auto industry.
What has been characterized as a horse race between the 40% sales advantage leading Ford F-150, the powerful Chevrolet Silverado/GMC Sierra combo and the phoenix rising RAM 1500, is more like Star Trek tri-dimensional Chess.
It gets even more complicated when you consider the strong selling Toyota Tundra, competitive Nissan Titan and the popular mid-sized Honda Ridgeline, as well as the string mid-sized and now small pick-ups rushing to market led by the Hyundai Santa Cruz and the new Ford Maverick.
The 72% combined light truck market including SUVs, Vans and Pickups is projected to continue growing, and as pick-up manufacturers are now increasingly embracing the hybrid and all electric future, traditional sedans and small cars could dwindle to a scant 20% market share within the next 5 years.