Pickup truck sales are still picking up.
In July, Ford saw a year over year increase of 22 percent, Ram 31 percent, Chevrolet 46 percent and GMC a whopping 49 percent.
Factors including a stable economy, accelerating investments by businesses and an aging truck fleet are combining to produce incredible growth in the segment.
Ford’s head of sales, Ken Czubay, estimated last week that there are over 14 million pickups currently on the road that are more than 11 years old, and there are millions more in need of replacement.
But don’t expect to get a deal on too many of them when they hit the local auto auction.
According to a report from Pickuptrucks.com, used pickup truck prices have increased up to 15 to 20 percent in the past year, even as average used car prices have been trending downward.
The strong demand for trucks less than five years old, in particular, has been driving up their value as average new pickup truck transaction prices are now above $40,000.