What the numbers say: Midsize pickup truck sales in the U.S. have exceeded 600,000 vehicles in the past two years. The average price for these vehicles has increased by 53% over the past decade, hitting over $42,000. Toyota is the leader in this segment, holding over 40% of the market, followed by GM, Jeep, and Nissan. Ford's market share has decreased to 9.4%. The price increase is three percentage points higher than the industry average. Relevance: Midsize pickup trucks have become more upscale, appealing to customers willing to pay for higher-end amenities and features. Competitors in the segment have increased due to more sophisticated vehicle designs and newer models. Midsize pickup sales are expected to keep rising in the upcoming years, reaching a peak as a part of the U.S. market at 4.6% in 2026, according to S&P Global Mobility. Brands that should care: Nearly every competitor in this segment has focused significant attention on the segment recently. Toyota has announced a newly redesigned 2024 Tacoma, while Ford showed off a redesigned 2024 Ranger with a Raptor high-performance off-road variant. The GM twins (Chevrolet Colorado and GMC Canyon) were redesigned for 2023 and are on sale at dealers now, while Nissan redesigned the Frontier for 2022. The Jeep Gladiator (2020) and Honda Ridgeline (2017) are now the elder statesmen in the segment. |
