Pickup buyers’ desire for better fuel economy significantly increased over the past five years.
Even though the price of gas and diesel has dropped considerably over the past year, buyers looking at new pickups still use MPG as a major selling point.
A study by TrueCar found that today’s full-sized pickup truck buyer has grown increasingly interested in fuel economy and MPG ratings even in a period of falling fuel prices.
Since 2010, buyers rating “fuel economy and mpg” as extremely to very important increased significantly from 55.4 percent to 71.1 percent in 2014.
Still, fuel economy trails the very real functional requirements truck buyers demand, such as towing capability. Some 80.9 percent rank that purchase consideration as extremely to very important, which is consistent with market findings in 2010.
“Like car buyers, truck buyers have high expectations for advanced technology and innovation,” says John Krafcik, president of TrueCar. “With the average full-size pickup transacting over $40,000, it’s a must that new generation trucks have improved fuel economy and more truck capability – from payload to towing – than ever before.”
With current fuel prices hovering just above $2, there has been a shift toward utilities and pickups and a waning demand for cars and hybrids.
However, the benefits of fuel economy are not lost on the modern full-size truck buyer. When gasoline prices rebound to more normative levels, expect MPG to remain top of mind for these consumers.
“The full-size pickup buyer’s demand for improved towing and payload performance remains unaltered,” Krafcik says. “What has changed is that the buyer now expects the best of both worlds: more utility and more fuel efficiency.”