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  • Drew Dowdell
    Drew Dowdell

    Could Pricing Finally Crack Truck Buyer Loyalty?

      .... 68% of current truck owners believe that current pickups are overpriced.

    Truck owner loyalty is legendary.  Buyers typically pick one brand and stick with that brand for as long as they buy trucks. Indeed my own father has owned only one brand of pickup, the Ford F-series, since before I arrived on earth.  In 2018, Ford moved more than 900,000 copies of its F-series pickups out of a total segment of 2,944,395. 

    But have rising prices started to crack that loyalty?   CarGurus did a survey and found that 70% of truck owners would switch brands if their truck raised prices by $10,000, that is up from 64% last year. While $10,000 seems like a big jump, even an increase of $5,000 would cause 42% of owners to ditch their current brand.

    Of those considering switching brands, 54% responded that it was due to price, and 47% cited fuel economy as a concern.

    More concerning for manufacturers is that 17% of current truck owners say they are unlikely to buy another truck, with Toyota and Ford truck owners being 43% of that total. 

    We may see some strong incentive competition in the market soon if these trends continue. 

    Edited by Drew Dowdell

    Source: CarGurus



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    Getting back to the original survey, I wonder if they didn't ask an important question.... with the prices of full size trucks going up so much, are buyers considering downsizing to mid-size trucks?

    That would be an interesting stat to know... and it would be interesting to find out if brand loyalty plays into it. 

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    57 minutes ago, Drew Dowdell said:

    Getting back to the original survey, I wonder if they didn't ask an important question.... with the prices of full size trucks going up so much, are buyers considering downsizing to mid-size trucks?

    That would be an interesting stat to know... and it would be interesting to find out if brand loyalty plays into it. 

    On top of this, I have seen an up-tick in sales and price for used Mini Pickup Trucks. I honestly see a need for something smaller than the mid size.

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    ccap41

    Posted (edited)

    9 minutes ago, dfelt said:

    On top of this, I have seen an up-tick in sales and price for used Mini Pickup Trucks. I honestly see a need for something smaller than the mid size.

    How in the world have you possibly have this information? 

    Edited by ccap41

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    1 minute ago, ccap41 said:

    How in the world have you see this information? 

    Been watching the auto lots around me and how much I find old rangers, Datsun, Toyota's and even seen some S10 and a couple Luv trucks and they are not sitting on the lots. I know a number of coworkers have bought old used mini pickups as it met their need. So this is just my own monitoring and seeing what has sold around here.

    Seattle market is hot period for people moving here, so this could also be a side affect of that.

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    That is possibly the most anecdotal information ever expelled via the internet. 

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    2 minutes ago, ccap41 said:

    That is possibly the most anecdotal information ever expelled via the internet. 

    So you never keep an eye on the local auto lots to see what comes in and goes out and see what is selling?

    I can tell you one thing that is not selling on my local Ford lot of Hwy 99 here, they have 3 last year model Yellow Tonka Truck badges trucks along with 2 white Carol Shelby trucks that are all 2018 models and still sitting. Either Harrison Ford has a terrible auto buyer or they bought a ton of the same thing and are now having a hard time selling it.

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    People buying $1500 - $5000 trucks has nothing to do with the brand new truck market. 

    Just now, dfelt said:

    So you never keep an eye on the local auto lots to see what comes in and goes out and see what is selling?

    I can tell you one thing that is not selling on my local Ford lot of Hwy 99 here, they have 3 last year model Yellow Tonka Truck badges trucks along with 2 white Carol Shelby trucks that are all 2018 models and still sitting. Either Harrison Ford has a terrible auto buyer or they bought a ton of the same thing and are now having a hard time selling it.

    Yeah, literally everything comes and literally everything sells. 

    Rare stuff will always be the exceptions to the rule.

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    2 hours ago, ccap41 said:

    People buying $1500 - $5000 trucks has nothing to do with the brand new truck market. 

    Yeah, literally everything comes and literally everything sells. 

    I will have to disagree with you, mini pickups used to sit and then were sold off to junk yards, lately I have seen more activity in this segment with people looking for small trucks as they do not want a medium or full size truck.

    I think there is valid reason to be aware of what people are interested in even used old auto's as it tends to say that the auto market is ignoring a customer want.

    While not everyone is building MiniVans, there is still an active desire for them and clearly enough to keep a couple brands going. I believe the same is true for the mini truck.

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    The small trucks are definitely coming,  when you look at a Colorado or Ranger of today vs a 90s S-10 or Ranger the new trucks are huge.  And those mid-size trucks are in the $30-40k range easily, and that is for the average ones, not the top of the line.  A small truck in the $20-30k range would sell for sure.  

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    The Colorado is much larger than the old S-10, but everything gets fatter with age. Look at the BMW 2002/3-series.
    Marketers have convinced consumers that 'NEW' must include 'more'.

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    10 minutes ago, balthazar said:

    The Colorado is much larger than the old S-10, but everything gets fatter with age. Look at the BMW 2002/3-series.
    Marketers have convinced consumers that 'NEW' must include 'more'.

    I agree, the marketing machine that fatter / bigger is better is not true and I think Americans are figuring that out. Will be interesting to see what comes of it. 

    Will someone realize a 2 no more than 3 people on a bench seat squished is a desirable truck for the inner city owner / Home Depot suburban family?

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    Of all my friends and family only one is wanting something smaller than his 2500HD Ram because he no longer tows with it. Everybody else has bought larger or talks about their next vehicle being a step up in size. I don't think Americans are wanting to go smaller, as a whole. 

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    balthazar

    Posted (edited)

    It's not much different than actively buying a 7-pass CUV- how often do people need those?

    Maybe -like some suggest RE F/S trucks- they can just rent a 7-pass for those infrequent occasions they need one (have a large buying spree at Home Depot).

    Most people buy in bulk. Costco... homes...

    Screen Shot 2019-04-03 at 9.40.02 AM.png

    It's The Way Of Things.

    Edited by balthazar
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    7 minutes ago, balthazar said:

    It's not much different than actively buying a 7-pass CUV- how often do people need those?

    Exactly. A buddy of mine who him and his wife recently had their first baby upped their Buick Encore to a Buick Enclave because they have a baby now.. I think they plan a second but his justification was nothing more than they want something larger, when you looked past the BS reasonings. I get it. In the end, people buy what they want regardless. 

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    Americans are also getting fatter. 

    57 minutes ago, ccap41 said:

    Exactly. A buddy of mine who him and his wife recently had their first baby upped their Buick Encore to a Buick Enclave because they have a baby now.. I think they plan a second but his justification was nothing more than they want something larger, when you looked past the BS reasonings. I get it. In the end, people buy what they want regardless. 

    I get it too. I have an Encore and its fine for just the two of us on a road trip, but now we have the in-laws who we have to cart around a lot also and the Encore is just too small.  We won't go as big as an Enclave, but a Durango isn't out of the question. 

    More than likely I'll end up in a big sedan though since I can get one so cheap and it's probably my last chance for a new(ish) 300.

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    10 minutes ago, Drew Dowdell said:

    Americans are also getting fatter. 

    I get it too. I have an Encore and its fine for just the two of us on a road trip, but now we have the in-laws who we have to cart around a lot also and the Encore is just too small.  We won't go as big as an Enclave, but a Durango isn't out of the question. 

    More than likely I'll end up in a big sedan though since I can get one so cheap and it's probably my last chance for a new(ish) 300.

    I didn't realize the Enclave was that much larger. I would have assumed the Durango was the slightly larger of the two had I not looked up their dimensions.

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    3 minutes ago, ccap41 said:

    I didn't realize the Enclave was that much larger. I would have assumed the Durango was the slightly larger of the two had I not looked up their dimensions.

    The Enclave/Traverse and the Honda Pilot are the roomiest crossovers you can buy at the moment.  The Durango has some length to it, but it's relatively narrow. 

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    3 minutes ago, Drew Dowdell said:

    The Enclave/Traverse and the Honda Pilot are the roomiest crossovers you can buy at the moment.  The Durango has some length to it, but it's relatively narrow. 

    The Durango definitely is the looker of the group though. Get that bad boy in R/T trim and it's a legitimately good looking vehicle. 

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    2 minutes ago, ccap41 said:

    The Durango definitely is the looker of the group though. Get that bad boy in R/T trim and it's a legitimately good looking vehicle. 

    Yeah, I do like the R/T.  I won't be buying new though, so it's harder to find an R/T used with the options I want.

    Right now, I'm looking at the 300S with AWD and adaptive cruise.  I'm finding 2018s with like 20k miles on them for about $25k

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