When Truckers Can't Afford Trucks, What Do They Buy?

It’s not any real news that full-size pickup trucks are taking a beating in today’s economy. With gas prices over $4 per gallon and the housing market still in a funk, pickup sales are getting worse with each passing month. Here at Compete we’ve been studying the situation and have seen demand for large pickups (F-Series, Silverado, Tundra, etc.) fall to record lows over the past few months. So the question becomes, are large pickup consumers changing their shopping preferences? Are they shopping cars now that pickups are becoming too expensive to own? Are they shopping smaller vehicles like the rest of us?

Let’s be clear on one thing: there are still people out there who need a truck. They are the people who need them for work or who tow 10,000 lb. trailers and boats. But there are also a lot of people who owned a pickup not so much for the need but rather because they wanted a truck. Oh sure, that annual trip to Home Depot (HD) justified having a pickup, but the economy has had a way of separating the wheat from the chaff.

A good portion of pickup shoppers still only shop a full-size pickup. Those are the people who need a truck, but that number, not surprisingly, has been declining. That suggests pickup loyalty is not as strong as it was in the past. The rest are looking at other alternatives and shopping other vehicles in other segments. To be sure, they are looking at compact pickups, smaller SUVs as well as at some of the new crossovers on the market. You would expect that of someone who’s been in a truck.

But, in what is a perhaps a bit of a surprise, we’re also seeing a good number of truckers turning serious attention to compact and mid-size cars. In May those two segments were shopped twice as much as they where in November and continue to be among the vehicle segments most shopped by full-size pickup prospects. That’s a change from the past when they weren’t even on a trucker’s radar. That’s right, people who’ve motored around town with bed-liners and trailer hitches they rarely used are now looking to buy an Accord or a Malibu or even a Civic, a Corolla or a Focus. That’s a big change for someone who’s used to 8 cylinders and sitting high enough to look down on the cars they’re now thinking of buying. But then again, are you really a trucker if you’re not getting it dirty and hosing it out when you’re finished using it?

Comments

[allpraisebob]

I one of those people that own a truck because I have to (remodeling) and I last purchased one brand new in April of '07. Gas was under $3 a gallon at the time but it didn't take an internet psychic to see $4/gal. or more coming down the pike so I specifically looked at 4 cylinder trucks only. Yes, they do make them, but while the domestic automakers treat them as a joke, Toyota and Nissan actually build 4-cyl. trucks that work. I consistently get 19-20mpg in mixed driving and can tow loads of up to 3,500lbs with no problem. 10,000lbs? Probably not, but how often do you really need to "bring the cabin to campsite, like no one else"? That sort of vehicle should be *rented* on an as-needed basis, not used as a daily driver. Granted, my truck still gets crappy mileage for a daily driver, too, but it certainly isn't the 8-16mpg my fellow F-150 driving colleagues moan and kvetch about.

Just thought I comment because so few people realize that a truck can still be useful even if powered by a 4-cylinder engine.

[ETF STER]

Just to clarify.

A trucker is not a pick-up truck owner, it is an over the road tractor/trailer rig.

A pick-up owner is a light truck owner.

[Tim Plaehn]

Dang, I thought you were going to write about TRUCKS: Peterbilt, Kenworth, Freightliner, Volvo, Mack. The stuff above is pickups.

[paulk8756]

Maybe we can ask the author to talk about the status of over-the-road trucks in his next post?