If you’ve gone shopping for a new full-size pickup truck lately, you might have sticker shock. No, you’re not cheap, pickup trucks have become ridiculously expensive. Many shoppers can’t even begin to afford a new full-size pickup.
As the Detroit Free Press recently pointed out, the average price of a full-size pickup truck has ballooned to $48,377. That’s a full 48 percent increase over the average price back in 2008, and a 19 percent increase since 2013. No other segment in the auto industry has seen such dramatic price increases, showing that trucks are king in today’s market.
Ten years ago everyone would’ve laughed at the idea of a production full-size pickup costing over $100,000. Today, you can hit that price point with a few different models.
Cheap gas is helping to drive costs up. Americans are using full-size pickups not to haul dirt or equipment to job sites, but instead to take little Timmy to soccer practice and go shopping at Costco. As a primary vehicle, people want their pickup to be super comfortable, so they’re adding options like ventilated leather seats and rear seat entertainment systems.
If gas prices suddenly spike, it could cool this trend of expensive pickup trucks. But turning to electrification trucks could help us have our luxury land barges and not have to worry about the petroleum market.