Sales of full-sized pickup trucks were down by 2% in Q3 of 2016, after an increase of 5% in the first half of the year. For the first nine months, the segment is up 3% to 1,640,674 sales. With relatively high brand loyalty in this segment, there are no big shifts in the performances of individual models, with only two out of the six models making double digit moves in Q3 and only one in the first three quarters of the year. With both the large SUV segment and the small pickup segment surging in Q3, the contrasting loss of the full-sized pickups may have another reason than gas prices. It could also indicate a lower confidence in the US economy and especially the housing market by construction companies, since sales of work trucks are historically linked to real estate prices in the United States.
Highlights in January – September 2016:
- Despite a 3% loss in Q3, the Ford F-series is still by far the best seller of the segment, and the only model to sell over 200,000 units in the quarter. However, sales of the General Motors twins Chevrolet Silverado and GMC Sierra combined are back above those of the F-Series in Q3. For the first nine months of the year, Ford is still be biggest manufacturer of full-sized pickup trucks.
- Both the GM models also lost volume in the third quarter, with an 8% loss for the Chevy and a 5% loss for the GMC. In fact, the RAM Pickup outsold the Silverado in September for the first time since April 2014. For the quarter and year-to-date, the Chevy is still firmly in second place, even though the RAM is closing in with a 10% increase in Q3 and 9% growth so far this year.
Sales of the Toyota Tundra were back up by 4% in Q3, but still down 5% year-to-date, even though the model is starting to age and the other Japanese player Nissan Titan has just been renewed.
- After the Titan XD version started off sales of the new, second generation, deliveries of the light-duty version started in September and it shows in the sales figures: sales doubled on July and August volume, to give the model a 40% boost in Q3 and 15% increase year-to-date after virtually stable sales in the first half.