Three heavy hitters all are introducing new pickup trucks at the Detroit auto show: Ford, Chevrolet and Ram, but how likely are loyal buyers willing to shift brand allegiances?
Ford, which is reviving the midsize Ranger and aiming it at younger buyers, also announced earlier this month it is adding a new diesel engine to its F-150 lineup. The Ranger, which hasn’t been offered in the U.S. since 2011, won’t be available until early 2019.
Ram introduced an all-new Ram 1500, including a diesel engine option, and also reduced its weight by 225 pounds. The new face of Ram includes a chiseled Ram’s head logo and “RAM” grilles.
Chevrolet rolled out an all-new Silverado, which also is lighter than its predecessor, thanks to more aluminum but still not in the truck bed (its durability was a source of Chevy vs. Ford advertising last year.)
The Ford F-150 is the best-selling vehicle in the U.S., followed by the Silverado and Ram. They are the only vehicles to sell more than 500,000 units in 2017.
Pickup truck owners are perceived as extremely brand loyal.
CarGurus asked 450 respondents which other pickup makes they would consider buying for their next pickup purchase, and 24% said they wouldn’t consider purchasing another brand.
Leading the pack of loyalists were Toyota owners, with 38% saying they wouldn’t consider buying another brand of pickup truck. Nissan owners were the second most loyal, with 25% saying they wouldn’t consider any other brand. Dodge/Ram finished third at 22%, Ford was close behind with 21% while Chevrolet and GMC only had 10% brand loyal customers, respectively.
CarGurus asked pickup truck owners to imagine that the price of their preferred pickup truck increased significantly versus its selling price today and how much of an increase would cause them to consider switching brands.
Twenty-nine percent of pickup truck owners say that they wouldn’t consider switching brands regardless of any significant price increase. However, CarGurus’s survey uncovered the fact that there are truck owners who can be driven to other brands when it comes to cost.The survey findings shows that 42% of people who currently own a pickup truck would consider switching brands with a $5,000 price increase. For 20% of owners, the price would have to increase by at least $10,000 to consider switching brands.
Of the truck owners surveyed, 36% were Ford owners, 27% were Dodge/Ram owners, 27% owned Chevrolets, 12% owned Toyota trucks, 9% owned GMC, and 6% owned Nissan trucks.