Sales of the Detroit Three automakers’ expensive full-size pickup trucks fell in the first quarter of 2024. Bloomberg report explained, could negatively impact those automakers’ electric vehicle plans.
Ford, General Motors and Stellantis have cashed in on premium versions of full-size pickup trucks, packing features like larger touchscreens and massaging leather seats to push transaction prices into the six-figure range. . It is these highly profitable models that will fund electric vehicles, giving automakers cash to invest in electric vehicle development and production.
But sales of large pickup trucks fell in the first quarter, Bloomberg noted. Sales of Stellantis’ Ram pickup truck fell 15%, while sales of Ford’s best-selling F-Series truck fell 10%. Ford also has not shipped any electric F-150 Lightning pickups since February 9 due to an undisclosed issue.
Chevrolet Silverado 1500 2024
According to Bloomberg, high sticker prices aren’t deterring pickup truck buyers, but high interest rates, coupled with growing competition from smaller vehicles like compact SUVs and sedans, may at least at times interest is currently decreasing.
Full-size trucks have been a cornerstone of Detroit automakers’ business plans lately. Smaller models like Ford Maverickstarting at $20,000 and including a hybrid version, it could be a reasonable choice for many households compared to the F-150.
Shoppers can expect innovation that goes beyond new, more luxurious pickup truck trim levels. For example, GM is said to be working on plug-in hybrid pickup truckand Ram will launch one Extended-range plug-in pickup truck in the next year.
More all-electric trucks are also on the way, and the benefits of going electric for pickup trucks may be even more obvious for these vehicles than for conventional passenger cars. In 2022, the Union of Concerned Scientists said electric pickup trucks emits less CO2 than conventional gasoline trucks no matter where in the United States they are plugged in.
2025 Ram 1500
And maybe some pickup truck buyers are already starting to get the message about electric vehicles. Another 2022 study crunched the numbers, estimating that electric pickup trucks could Changed almost half of the gasoline currently in use—with cost-of-ownership advantages.
Biden administration Just made a bunch of changes in the final fuel economy calculation, making it easier for automakers to produce and sell more large pickup trucks and SUVs. So the regulations won’t threaten American automakers’ obsession with big trucks for the time being.
