Buyers of electrical pickup vehicles should not all that not like from these considering inner combustion engine (ICE) automobiles.
When in comparison with its EV rivals, the Chevrolet Silverado EV, GMC Hummer EV Pickup, Ram 1500 Rev, Rivian R1T, and Tesla Cybertruck, the Ford F-150 Lightning got here out on high in a 3rd spherical of research performed by Cox Automotive.
According to the research, customers are extra inclined to contemplate full-size EV vehicles from manufacturers they’re already conversant in or already personal.
“Ford’s full-size pickup has long been the best-selling, best-example of the genre, so perhaps it is no surprise that the F-150 Lightning arrives with a leg up on the competition,” famous Vanessa Ton, senior supervisor of Market and Customer Research at Cox Automotive. “Our studies continue to show the importance of brand strength, and that is particularly true in the full-size pickup truck segment, where brand loyalty often runs deep and fierce. This fact makes it particularly challenging for brands like Tesla and Rivian, both newcomers to the pickup segments.”
Brand loyalty runs deep
Cox Automotive performed its survey in July and August, following two earlier rounds of analysis undertaken in late 2020 and spring 2022. In the newest research, truck patrons who’re out there to purchase inside the subsequent two years have been requested to bear in mind a wide range of traits, together with anticipated vary, driving efficiency, styling, and value.
Yet no matter a product’s attraction, model loyalty stays a powerful attraction.
The research reveals that the Ram 1500 Rev got here out on high for its automobile attraction at 67%. But as soon as branding was revealed, the Ram 1500 Rev dropped to 63% behind the Ford F-150 Lightning at 67%. But as soon as manufacturers have been revealed, Ford additionally topped Chevrolet at 63%, whereas additionally trouncing GMC Hummer and Rivian at 48%, and the Tesla Cybertruck at 27%.
And the Ford F-150 Lightning dominates within the 5 areas that matter most to customers, doing particularly effectively in “overall look/styling” and “technologically advanced,” along with “mileage range,” “driving performance” and “price.”
Other components stay essential
In truth, value is a powerful consideration given the excessive tariffs automakers are charging for EVs. The GMC Hummer EV and the Tesla Cybertruck obtain the bottom scores within the research attributable to their value.
But extra importantly, pickup upstart producers have little likelihood of changing present full-size pickup aficionados.
“This research really shows how important it will be for a brand like Tesla to attract consumers and shoppers who are not traditional pickup truck buyers,” added Ton.
“The new Cybertruck will have to convert shoppers who are not already pickup owners or intenders. It is natural to consider the new Tesla truck as part of the full-size pickup segment, but this research demonstrates Tesla’s need to attract a different audience.”
Regardless of which truck they select, electrical pickup intenders are motivated by gasoline prices and the surroundings.
Ford F-150 Lightning garnered highest consideration, and require their automobile to have at the very least 305 miles of vary, the research reveals.
Market continues to be small
But demand for full-size electrical pickups stays small.
In the second quarter of 2023, about 15,000 full-size EV pickup vehicles have been offered, greater than doubling the quantity from the prior quarter. That’s solely 5% of the marketplace for EVs, although. Full-size pickup truck gross sales, then again, symbolize near 14% of the general U.S. market throughout that point.
Even if Ford and Rivian are far together with their gross sales, greater EV pickups quantity continues to be sooner or later.
The Cybertruck’s difficulties are delaying any chance of considerable Tesla portions till subsequent yr, whereas only a small variety of GMC Hummer EV pickups have been offered in the newest quarter. The Ram 1500 REV is at present deliberate to debut in late 2024, whereas the Chevrolet Silverado EV is “coming soon.”
Source: www.thedetroitbureau.com