Have you priced a new truck lately? The days of finding a good cheap truck are gone. Trucks have gone up-market and now compete with large SUVs as family vehicles, play vehicles, as well as good old work trucks. But, according to new reports, there may be some relief on the horizon from those high prices.

Could high truck prices drop soon?

could high truck prices be going down soon?

A Ford dealership with F-150s in the lot | David Paul Morris, Getty Images

The average price of a used truck is going down, and that means that there’s some extra supply in the market for the first time since 2020. The used car market doesn’t directly relate to the new one, but according to Kelley Blue Book, dealers paid about 4% less for used cars at auctions last month. Also, after sales that were off the charts for several years, they were down 9% in August at used car dealerships.

Lower demand means lower prices.

Lower used prices could put pressure on new truck prices

— Kelley Blue Book (@KelleyBlueBook) September 12, 2022

While new car prices are based on a lot of factors, like supply from the factory and a dealer’s own price constraints, lower used prices can lead to lower new prices. But not yet. The average full-size pickup truck price was $60,289 in March, which is a 9% increase from 2021, according to AutoList, which is a lot of F-150. So, full-sized truck prices aren’t dropping. But sales are.

According to new sales figures, though, truck sales are down so far this year. Last year, the truck market was down to a seven-year low, and its’s falling even further this year. Overall, manufacturers have sold 981,000 trucks in the first half of this year compared to 1.166 million in the first half of 2021. However, the percentage of trucks sold compared to other vehicles has gone up a tiny bit. That lower demand could force prices lower.

New full-sized trucks are getting more expensive

You’re not imagining it: most trucks have gotten more expensive over the last few years. A 2021 Chevrolet Silverado RST cost $45,595, while a new 2023 Silverado RST, similarly equipped, starts at $56,695. A 2020 Ram 1500 Big Horn cost $38,035, while a new 2023 Ram Big Horn starts at $42,405. The F-Series had a 10% increase in average transaction price, or ATP, at $62,990, from 2021 to 2022, according to research firm Cox. Dealers have been selling popular trucks at a premium over MSRP, too.

As manufacturers have moved all of their trucks upmarket to compete with SUVs and in some cases luxury cars, buyers are demanding more options and standard features and that means a higher price. But, we do get one vehicle in a modern truck that does more things better than ever before.

Could prices dip in 2023?

If anybody knew what prices of new cars would do in the next year, they should earn a Nobel Prize in economics. Most are expecting a dip, simply because of higher interest rates and an increase in the supply as the supply chain issues that constrained the market are figured out. But, in a recent Ford market outlook press release, the company said it expects “inflationary pressures,” to affect a broad range of costs, and the company expects to see an extra $4 billion in expenses this year, which could affect the price of your next truck.

Keyword: Could High Truck Prices Be Going Down Soon?


Best cars for a 'Love Bug' remake

Tennessee’s Yard Art The Thorndyke Special The Hot Rod The Hippie Van Jim’s Lamborghini Growing up, it’s safe to say my absolute favorite movie was Disney’s “The Love Bug.” As a kid living in a world before Pixar’s “Cars,” it was pretty much the best car movie. I loved ...

View more: Best cars for a 'Love Bug' remake

Audi timing belt tensioner prompts Utah bomb squad visit

An aftermarket timing belt tensioner found in a Salt Lake City apartment prompted a visit from the bomb squad this week after it was mistaken for a potential explosive device. Police partially evacuated the apartment complex in which it was found “out of an abundance of caution” and called ...

View more: Audi timing belt tensioner prompts Utah bomb squad visit

2023 GMC Sierra HD 2500 and 3500 will get more expensive

GMC Sierra HD pickups are about to get more expensive again after recently becoming more expensive, according to GM Authority. In July, GMC and Buick raised the prices on certain vehicles in their lineups anywhere from $975 to $1,675 by making the previously optional OnStar a standard feature. Next ...

View more: 2023 GMC Sierra HD 2500 and 3500 will get more expensive

Our week with EVs: Recapping the diverse collection of electric cars we tested

Mercedes-Benz EQB First Drive Review: Next electric Benz is a little different 2022 Chevy Bolt EV Road Test Review: Time to play EV, gas or airplane 2023 Genesis GV60 Road Test Review: The third of Hyundai Group’s E-GMP EVs is the fastest, but softest It may be hard to ...

View more: Our week with EVs: Recapping the diverse collection of electric cars we tested

Europe car sales lowest since 1996 after 12-month decline

BERLIN – Europe registered the lowest number of new passenger cars in the month of June this year since 1996 at just over 1.06 million vehicles, with some carmakers seeing sales drop by nearly 50%, data from Europe’s automobile association showed on Friday. Volkswagen Group was the hardest-hit major ...

View more: Europe car sales lowest since 1996 after 12-month decline

More Than Just A Carmaker: Toyota Motor PH Launches Toyota Mobility Solutions

Automotive industry leader, Toyota Motor Philippines Corporation (TMP) inaugurated today Toyota Mobility Solutions Philippines, Inc. (TMSPH), a wholly owned subsidiary that will be a provider of mobility-related services. TMSPH ventures into the development and offering of a range of ‘new mobility solutions’ that will enhance Toyota as a brand ...

View more: More Than Just A Carmaker: Toyota Motor PH Launches Toyota Mobility Solutions

'F1 22' feels fast and familiar | Gaming Roundup

‘F1 22’ impressions ‘Construction Simulator’ is launching Sept. 20 Autoblog may receive a share from purchases made via links on this page. Pricing and availability are subject to change. This week in racing game news: ‘F1 22’ impressions At its core, “F1 22,” the latest installment in the F1 ...

View more: 'F1 22' feels fast and familiar | Gaming Roundup

Watch a single-engine plane crash-land on 91 Freeway in California

A single-engine Piper Cherokee airplane was forced to crash land on the 91 Freeway in California after losing power about 45 minutes outside of Los Angeles. Yes, that means this was a very busy highway, practically bursting at the seams with traffic. No, amazingly nobody died, either in the ...

View more: Watch a single-engine plane crash-land on 91 Freeway in California

Ford files 'Mustang Dark Horse' trademark application

Make adventures more comfortable with high-quality Jeep grab handles

New Lucid Air variant to debut & Stealth Look to be on display during Monetary Car Week

Chevy offers incentives to prevent Corvette Z06 flipping

Average U.S. gas price falls below $4/gallon

German court: SUV driver must pay more than a car for running red light

Australian vehicle crash tests to include underwater performance

Toyota C-HR rumored to get revamp next year and an EV version

Geely's electric Zeekr 009 is an EV Alphard we never had; 700 km, 542 PS, top speed 190 km/h

A Newey, Brawn and Anderson row that shows F1 doesn’t change

Sorry, EV buyers, you won't get to pick your own pedestrian safety sounds

There won't be enough copper to meet climate goals, study indicates


Breaking thailand news, thai news, thailand news Verified News Story Network TopCarNews France | Actualités et Salons Automobiles, Fiches Techniques, Photos et Magazine Auto