“Pickup trucks are one of those iconic American vehicles that whether you own one or not, you’re bound to have an opinion on the segment as well as those that buy them. Despite concerted efforts to shed the stereotypes that have followed pickups for years, they persist. Pickup truck manufacturers need to begin shedding this image, lest they will continue to be pigeonholed. In an era in which consumers are striving to be seen as multifaceted individuals, there is room for pickup trucks to become something more than what they are currently perceived to be.”
-Hannah Keshishian, Automotive Analyst

This report looks at the following areas:

  • Trucks can be more than a work-force vehicle
  • Highlight your automotive innovations
  • Transform “non-truck people” into truck people

Table of Contents

  1. Overview

    • What you need to know
      • Definition
      • Executive Summary

        • Overview
          • What automakers need to know
            • Trucks can be more than a work-force vehicle
              • Highlight your automotive innovations
                • Where automakers can succeed
                  • Transform “non-truck people” into truck people
                    • What it means/what’s next
                    • The Market – What You Need to Know

                      • Gas prices expected to increase and potentially slow pickup sales
                        • Truck segment headed for slow growth period over next few years
                          • Consumer confidence steadily declines
                          • Market Size and Forecast

                            • Truck sales show signs of stagnation in 2020
                              • Figure 1: Total US sales and fan chart forecast of pickup trucks, in total units, 2014-24
                              • Figure 2: Total US unit sales and forecast of pickup trucks, at current prices, 2014-24
                            • Mid-size pickups cannibalize full-size pickup market share
                              • Figure 3: Total US sales and fan chart forecast of mid-size pickup trucks, in total units, 2014-24
                              • Figure 4: Total US sales and fan chart forecast of full-size pickup trucks, in total units, 2014-24
                              • Figure 5: Total US unit sales and forecast of pickup trucks, by segment, at current prices, 2014-24
                          • Market Factors

                            • Pickup owners soon to feel pain at the pump
                              • Figure 6: US gasoline and diesel retail prices, January 2007-October 2019
                            • Consumer confidence continues to decline year over year
                              • Consumers disposable income spikes year over year
                                • Figure 8: Disposable personal income change from previous period, January 2007-September 2019
                            • Key Players – What You Need to Know

                              • “Chicken Tax” inadvertently causes consumers to balk at foreign truck prices
                                • Tech-trucks to look out for in 2020
                                  • Chevy aims to target luxury consumers with their new Silverado
                                    • Big recalls are coming from the Big 3
                                    • What’s Happening

                                      • Chevrolet announces the first their luxury pickup offering
                                        • Who has the fanciest tailgate of them all?
                                          • Figure 9: Chevrolet, All-New Silverado – Tailgates, January 2019
                                      • What’s Struggling

                                        • How the “Chicken Tax” has helped the Big Three keep a nest egg
                                          • Total Recall: The Big 3 go through continuous rounds of truck issues
                                          • What to Watch

                                            • Tesla takes a swing and a miss with their Cybertruck, for now
                                              • Rivian steps in the EV ring with its R1T
                                              • The Consumer – What You Need to Know

                                                • Consumers need to become more acquainted with foreign truck brands
                                                  • SUVs threaten repeat pickup truck purchases
                                                    • Millennials are open-minded when it comes to purchasing a pickup
                                                      • Despite segment growth, pickup trucks are still a niche segment
                                                      • Pickup Purchasing Overview

                                                        • Car buying is an on-going process
                                                          • Figure 10: Vehicle purchase timeline, August 2019
                                                        • Pickups are a niche segment
                                                            • Figure 11: Vehicle type purchase consideration, August 2019
                                                          • Ford and Chevrolet continue to dominate the US market
                                                            • Figure 12: Pickup brand consideration, August 2019
                                                        • Overcoming Pickup Objections

                                                          • SUVs threaten repeat pickup purchases
                                                            • Figure 13: Vehicle type consideration, by current pickup ownership, August 2019
                                                          • Consumers say trucks speak volumes about the vehicle owner
                                                            • Figure 14: Attitudes toward pickup truck owners, August 2019
                                                          • Persuade car buyers to see trucks as a natural fit to their lifestyle
                                                            • Figure 15: Purchase consideration based on lifestyle, August 2019
                                                            • Figure 16: Yearly health and wellness goals, November 2019
                                                          • Highlight innovative technology to calm consumer worries
                                                            • Figure 17: Ford F-150 desktop ad, September 2019
                                                            • Figure 18: Chevrolet Silverado 1500 desktop ad, November 2019
                                                            • Figure 19: Concerns surrounding parking, August 2019
                                                        • Female Purchasing Opportunities

                                                          • Why female consumers?
                                                            • Convincing women to say “truck yeah” to pickups
                                                                • Figure 20: “Passing the Torch,” Visa, October, 2019
                                                                • Figure 21: Santa Girl, November, 2019
                                                                • Figure 22: Pickup purchase prohibitors, by gender, August 2019
                                                              • SUVs serve as a gateway to pickup ownership
                                                                  • Figure 23: Vehicle type consideration, by gender, August 2019
                                                              • Young Consumer Purchasing Opportunities

                                                                • Millennials are partial to pickups
                                                                    • Figure 24: Vehicle type purchase consideration, by generation, August 2019
                                                                  • Automakers need to help young car buyers see trucks differently
                                                                    • Figure 25: Perception of work trucks, by age, August 2019
                                                                  • Target young consumers with an active lifestyle to build truck loyalty
                                                                      • Figure 26: Outdoor activities, by age, August 2019
                                                                  • Electric Vehicle Trucks

                                                                    • Addressing the EV elephant in the room
                                                                      • Figure 27: EV pickup truck consideration, by generation, August 2019
                                                                      • Figure 28: EV pickup truck consideration, by area, August 2019
                                                                  • Appendix – Data Sources and Abbreviations

                                                                    • Data sources
                                                                      • Sales data
                                                                        • Fan chart forecast
                                                                          • Consumer survey data
                                                                            • Consumer qualitative research
                                                                              • Direct marketing creative
                                                                                • Abbreviations and terms
                                                                                  • Abbreviations
                                                                                  • Appendix – The Consumer

                                                                                      • Figure 29: Vehicle purchase consideration, by race, August 2019
                                                                                      • Figure 30: Vehicle purchase consideration, by race, August 2019

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