Electric pickup trucks are gaining public interest before there are even many on the market. Nearly 40 percent of those shopping for a truck purchase this year say they are considering an electric pickup, according to the Cox Automotive Consumer Snapshot Electric Pickup Trucks study. Cox Automotive is the parent company of KBB.
Pickup trucks make up about 20 percent of the American auto market. Most years (including the most recent) the three best-selling pickups are the three best-selling vehicles in America. But electric vehicles (EVs) have begun to reach other segments of the market first, largely because it’s easier for them to work out the kinks in building and maintaining smaller, lighter-demand vehicles before moving on to the trucks Americans rely on for work, towing, and heavy-duty hauling.
Electric Pickups Hit the Market Soon
But electric trucks are nearly here. Both GM and Ford plan to release electric editions of their best-selling trucks before 2022 is out. Ram will follow, though that company has given us less detail on its plans.
It’s not just the Big Three moving toward pickup EVs. From Amazon-backed startup Rivian’s new R1T to Tesla’s love-it-or-hate-it Cybertruck, nearly a dozen electric truck models are considered close to release for sale. Editor’s note — Cox Automotive has a partial ownership stake in Rivian, but the companies operate independently.
Shoppers Want Tech-Laden Electric Trucks, Not Power
Not surprisingly, the research shows that younger buyers are more open to electric trucks. Forty-nine percent of shoppers under 34 would consider a pickup EV, compared to 35 percent of those over 35. Women showed slightly more interest than men.
When quizzed on the attributes they find important in their next vehicle, those considering an electric truck showed almost the same judgment as those only interested in gasoline-powered trucks, with two exceptions.
Horsepower mattered to 77 percent of Internal Combustion Engine (ICE) shoppers, but just 58 percent of EV shoppers. Cabin technology showed the reverse pattern – 77 percent of EV buyers rated it as important, while only 56 percent of ICE buyers did.
Ford Winning the Appeal Contest
Ford seems to have the upper hand in the market, both on visual appeal and brand reputation. Shoppers found the upcoming Ford F-150 EV more attractive than the Hummer EV, Rivian R1T, or Tesla Cybertruck when shown images of the vehicles with all badges removed. Once the manufacturers were revealed, and some performance details were given, opinion shuffled, but the Ford stayed on top.
The Cox Automotive Consumer Snapshot Electric Pickup Trucks study involved surveying 155 in-market consumers that were shopping for a pickup truck, including 60 in-market for an electric (EV) pickup truck. The survey was conducted from Nov. 25-Dec. 2, 2020.
More: Could 2021 Be the Year of the Electric Car?
