CAMBRIDGE, Mass. –
In 2019, 70 percentage of surveyed truck proprietors said they would switch brands if their favored pickup truck logo improved its fees through $10,000. That quantity is up in comparison to 64 percent in 2018.
That is in step with CarGurus’ 2019 Truck Sentiment Survey, which as compared pickup truck owner logo sentiment to a similar survey the organisation conducted in 2018. The agency also surveyed modern and former pickup truck owners’ perception of the car class.
CarGurus said pickup vans are having an effect on backside strains across the automotive industry. Because of that, brand loyalty is turning into an increasing number of crucial to automakers.
Unfortunately for those automakers, brand loyalty amongst pickup truck proprietors is beginning to decrease as compared to 12 months ago. That lower in loyalty is even extra reported whilst truck owners couple the brand loyalty question with accelerated expenses.
Additional survey highlights:
—Toyota came out on top within the brand-loyalty category, as forty one percent of Toyota truck pickup truck proprietors were not willing to don’t forget some other brand.
—The least brand dependable? Current Chevrolet truck proprietors. Twenty-eight percentage of them have been now not willing to don’t forget every other pickup truck emblem, observed by way of Ford owners with 27 percent.
How do pickup truck proprietors sense about their vehicles? CarGurus also for their opinions on factors which includes charge and generation functions, as well as their destiny plans for buying some other pickup truck. The outcomes:
— The motors are overpriced, according to sixty eight percent of truck owners.
— Fifty-four percentage admire that their vans have turn out to be more high-tech.
— Are vans made as well as they was? Forty-eight percentage of truck proprietors surveyed say no.
— Seventeen percent of truck proprietors surveyed will likely not buy every other pickup truck.
For the survey, CarGurus surveyed 1,067 present day and former pickup truck proprietors in February.
Among the ones contributors, 581 presently personal at the least one pickup truck, whilst 486 had owned a truck previously, however no longer do. Among the present day pickup truck proprietors, 195 very own a Ford pickup truck, 154 own a Chevrolet pickup truck, 106 personal a Toyota pickup truck, and one hundred and one very own a Dodge/Ram pickup truck.
Survey participants additionally blanketed former pickup truck owners who have switched to any other category, and 37 percentage of them now own an SUV/crossover. Thirty-5 percentage now own a sedan.
“With pickup truck prices on the upward push, many owners are reconsidering their cutting-edge logo, or in a few instances whether they may repurchase a pickup at all,” said Madison Gross, director of customer insights at CarGurus. “While truck proprietors nevertheless have robust logo and class loyalty, the assignment for vehicle producers and dealerships is that loyalty is an increasing number of less dependable as a driver of income.”
Other key takeaways:
Fifty-4 percent country fee and 47 percentage say gas mileage as reasons for thinking about other brands. Also, truck consumers can be greater open to considering competitive brands than expected. For instance, 35 percentage of Ford owners making plans to buy some other pickup could don’t forget a Chevrolet. And 37 percent of Chevrolet owners could take into account a Ford.
The excessive expenses of acquiring and maintaining a truck are main some owners to exchange to some other car class. Forty- percentage of former truck proprietors listed gas efficiency and 24 percentage selected costs as motives they not very own a truck. About 17 percentage of contemporary truck owners say they probably received’t purchase another truck.
Among former truck proprietors, SUVs/crossovers and sedans are the most popular automobiles. Thirty-seven percent of preceding truck proprietors now very own a SUV/crossover. Thirty-5 percentage now personal a sedan.