A recent survey conducted by car buying and research website CarGurus found that many current and former owners of pickup trucks think the vehicles have become too expensive. Furthermore, a small minority of current pickup truck owners are unlikely to replace it with another, with poor fuel economy the most likely factor to push them away.
The survey found that 68 percent of pickup owners say trucks have become too expensive, while 17 percent are unlikely to replace their pickup with another in the future. Toyota truck owners were the most likely to defect, with 24 percent saying they probably won’t be buying another pickup, while Chevrolet owners are the least likely, with only 11 percent saying they won’t be purchasing another.
Of those who said they would be replacing their trucks with another vehicle type, 42 percent cited poor fuel economy as their reasoning. Another 24 percent said it was because trucks had become too pricy.
It also dug up some interesting findings with regard to brand loyalty. A whopping 70 percent of those surveyed said they would switch to another brand if their current pickup brand of choice were to raise prices by $10,000. Ford buyers are most likely to defect to Ram, but owners of Chevys, Toyotas, and Rams would all flip to Ford. Chevy was the least common answer in this part of the survey.
CarGurus says it surveyed “1,067 current and former pickup truck owners,” for this survey, with 581 currently owning at least one pickup truck and 486 having owned one previously. Among the current pickup truck owners surveyed, 195 owned a Ford, 154 owned a Chevrolet, 106 owned a Toyota and 101 owned a Ram.
The survey company also says that pickup truck owners are currently “feeling the pinch of rising prices, even more so than before.”
You can view the entire survey for yourself at this link.