Are Compact Pickups an Endangered Species?
In a recently published article, Work Truck poses the question, “Are Compact Pickups an Endangered Species?” Recent figures for the US compact pickup market show this segment has been struggling for nearly a decade with sales down 66.8 percent since 2002. Industry experts point to 4 primary factors for the decline: aging platforms, a diminishing price gap between compact and full-size trucks, newer engine options in full-size pickups offer comparable fuel efficiency, and an expanded number of non-truck options. Rob Baran, ARI’s department head of vehicle acquisition services, believes there is still a place for compact pickups in fleet applications but the future of the compact pickup segment will be decided by the OEMs. “The future of the compact pickup, as it pertains to fleet, hinges entirely on the truck OEMs and what they are willing to bring to the North American market. With CAFE requirements and increasing demand for fuel-efficient company vehicles, we see a need for these vehicles both for the OEMs and for fleet customers.”
To read the full article, click here.