Full-size pickup prices soar, average buyers priced out | Detroit Free Press

From 2008 to 2018, there was a 48-percent increase in price for full-size, light-duty pickups – the highest price increase for that time period out of all vehicle categories.

Johnson paid nearly $60,000 for his 2019 Chevrolet Silverado Z71, he said. For that price, he will keep it a long time, saying, “I won’t have a choice.”

The prices people are paying for pickups have steadily risen over the past decade pushing the trucks further and further out of reach for average consumers. In fact, some full-size pickups can cost more than $100,000.

Edmunds’ data shows, through September, the average transaction price for a full-size pickup is $48,377, a 48-percent boost from 10 years ago and a 19-percent hike from 2013 for the same period. For that price, a person could buy a Mercedes-Benz or BMW luxury sedan.

“A 48-percent increase in price is the highest price increase for that time period out of all vehicle categories,” said Ivan Drury, senior analyst at Edmunds. “Even at $45,000, it prices a lot of people out.”

How much?
According to data from Kelley Blue Book, in September 2013, the average transaction price for a full-size pickup was $41,680. This September, it was $48,369.

Yet the expectations of most pickup buyers fall far below what they actually end up paying, according to data from Cox Automotive, which owns Kelley Blue Book.

Most buyers expect to pay $26,699 for a new midsize pickup, Cox data show.

But, the average transaction price through August 2018 is actually $33,275.

Similarly, the expected price of a full-size pickup is $38,529, but the average transaction price for the year through August is $47,987.

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Full-size pickup prices soar, average buyers priced out.