Midsize pickup trucks are becoming the latest automotive battlefield

2024 Toyota Tacoma Trail Hunter


DETROIT – Size matters. Just ask America’s largest automaker.

ford, General Motors and Toyota are among those increasingly looking to capitalize on the growing segment of midsize pickup trucks: vehicles big enough to fetch high prices but small enough to protect profit margins.

Small pickups have evolved from entry-level work trucks to expensive, capable, and highly profitable models that can cost upwards of $60,000 – on par with luxury vehicles from BMW, Cadillac, and others.

“It’s just not aimed at people on a budget, because I think that’s been the segment for a long time,” said Jessica Caldwell, executive director of insights at auto research firm Edmunds. “Trucks are becoming more and more beautiful, with more amenities, more functions and more emphasis on design.”

Midsize pickup trucks follow the example of their larger full-size counterparts like the Ford F-150, Chevrolet Silverado, and Toyota Tundra. They have become more powerful, larger and more expensive and have a variety of new luxury and off-road variants as well as special functions.

Sales of midsize vehicles have surpassed 600,000 since 2019 as consumer interest has shifted from traditional sedans to commercial vehicles such as crossovers, SUVs and, of course, pickups.

Over the past decade, sales of traditional midsize pickup trucks have more than doubled, accounting for 4.4% of U.S. vehicle sales last year — up from a tiny 1.6% in 2013 and the highest since 2005, so Edmunds.

S&P Global Mobility expects mid-size pickup truck sales to continue growing in the coming years, but to peak in 2026 with 4.6% of the U.S. market share.

The average price paid for one of the vehicles is also increasing: over the past decade, the average price has increased by 53% from about $28,100 to over $42,000, Edmunds reports. Price growth is 3 percentage points higher than in the entire industry.

The competition is increasing

The midsize pickup segment has grown from three vehicles produced a decade ago to now seven gasoline-powered pickups from Chevrolet, Ford, GMC, Honda, Jeep, Nissan and Toyota. Half of the brands have announced redesigned vehicles this year, which is expected to increase interest and competition in this segment.

Toyota This week introduced its fourth generation Tacoma pickup truck a week later Ford engine introduced its redesigned Ranger for the USA General Motors has also arrived at dealerships with restyled versions of its Chevrolet Colorado and GMC Canyon pickups.

2023 GMC Canyon AT4X Edition 1


Different strategies

2024 Ford Ranger Raptor


https://www.cnbc.com/2023/05/20/midsize-pickup-trucks-auto-battleground.html Midsize pickup trucks are becoming the latest automotive battlefield


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