Pickup Truck Sales Will Dominate in 2018, Say Experts
Hottest thing in the automotive world right now? The large-size pickup truck, of course.
Last weekend, the next generation 2019 Chevy Silverado made its debut to much fanfare. It’s fair to say that Chevy can expect a huge performance from the truck, both on the road, and in the automotive markets.
How do we love trucks? Let us count the ways. Bottom line: Consumers want and love their pickups. The Ford F-150 and the Chevy Silverado are the two top-selling vehicles in the US, according to Kelley Blue Book making this the best year for pickups since 2007. Additionally trucks will make up for 16% of the total new vehicle market this year.
GM, Ford, Fiat Chrysler, and other car companies are listening to consumers, and giving them what they want. From high-end luxury pickups, to bigger, badder, and tougher trucks, the upgrades keep coming and the customers are buying. Of course this breeds a lot of competition between them. The race is ongoing to get out the best trucks with the coolest upgrades and innovations. A little cutthroat competition is always good for us, the buyers.
The upcoming North American International Auto Show in Detroit promises to feature pickup trucks prominently, including the Silverado and the 2019 Ram 1500. We can expect to see some beautiful trucks on display, and some new innovations. While GM is staying hush on the Silverado details, Chevrolet has made no secret that the name of the game for the body is steel. And according to General Motors a “higher-grade alloy is used in the roll-formed, high-strength-steel bed floor, contributing to a bed that is more functional and lighter weight. This use of mixed materials and advanced manufacturing is evident throughout the Silverado, resulting in a significant reduction in total vehicle weight and improved performance in many measures.”
But the pickup truck market isn’t just popular with consumers, it’s a big hit with automakers, too. In an article with USA Today, Itay Michaeli, auto analyst with Citigroup, said that in a 2016 presentation to investors, each GM pickup truck generates a profit of about $11,000. Compare that to the only $500 to $1,000 made on an average SUV or crossover, and add in the loses other vehicles (sorry, sedans), and it is clear that automakers are going to invest in and promote this very profitable market segment.
What do you think about the truck takedown of the auto market?
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