US Pickup Truck Market: On the rebound

Full-size pickups pick up steam; compact options diminish

2013/11/08

Table of contents

Summary
Pickup truck sales slowly rebound as economy improves
Ford, GM, Chrysler rekindle old rivalries
Japanese OEMs capture compact pickup sales; US abandons segment
Vast range of trim levels offer diverse options for truck buyers
Highlights of new models and recent introductions

Summary

Source: MarkLines and Industry Sources

The US pickup market is experiencing a slow but steady recovery from the market lows experienced in 2009. Much of this growth is spurred by the recovering housing market as workers in construction and related industries replace aging pickups for new ones. The general market economy is also providing a boost to sales as small businesses replace or add to their fleets. However, the overall market share for pickups hasn't recovered to the levels seen in 2005 when they made up 18.8% of sales. One reason is that the number of individuals who purchased pickups for personal use has declined, especially during the recessionary period when consumers either delayed expensive purchases or opted for more cost effective vehicles. However, so far in 2013, the pickup segment ticked up slightly to 13.7 percent of overall light vehicle sales.

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