SUVs are still the dominant force in the raging war of the segments, but buyers of non-luxury vehicles showed record-high interest in trucks in the third quarter of 2023. As for the brand consideration study, Toyota retained the top spot for the fifth consecutive quarter despite the fact that Chevrolet and Ford are inching closer.
Trucks Dominate The Charts
As reported by Cox Automotive, in the first quarter of 2023, a record-high 36% of non-luxury vehicle buyers considered a pickup truck, with the segment slotting below SUVs which had a steady 66%, and ahead of cars with a declining 32%, and minivans with a pitiful 5%.
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Full-size trucks occupied six spots in the overall top ten of most considered vehicles – namely the Chevrolet Silverado 1500 (#1), the Ford F-150 (#2), the GMC Sierra 1500 (#3), the Ram 1500 (#4), the Ford F-Series (#5), and the Chevrolet Silverado 2500/3500 (#8). Midsize trucks are also becoming increasingly popular thanks to the recent introduction of the Chevrolet Colorado and GMC Canyon, plus the upcoming all-new Toyota Tacoma.
The overall top 10 was completed with a trio of SUVs – the Dodge Durango (#5), Honda CR-V (#7), and Ford Explorer (#9) – plus two midsize sedans – the Honda Accord (#9) and the Toyota Camry (#9). Notably, only two vehicles from Asian manufacturers made it to the top 10, largely due to the fact that Japanese automakers Toyota and Honda have not fully recovered from inventory shortages and are not particularly strong in the booming truck segment.
In the factors that drive non-luxury consideration, Ram excelled occupying the top spot in seven categories, namely Driving Comfort, Driving Performance, Interior Layout, Exterior Styling, Prestige/Sophistication, Technology, and Ruggedness. However, the top three most important factors, Durability, Safety, and Affordability, were dominated by Honda, as well as Fuel Efficiency and Reputation.
Toyota Remains The Most Shopped Non-Luxury Brand, But Chevrolet And Ford Are Closing In
According to the quarterly Kelley Blue Book Brand Watch report, 32% of non-luxury vehicle buyers in the first quarter of 2023 considered a Toyota. This is 1% lower than the previous quarter, attributed to the “extremely low supply” and the tight inventory of some Toyota models including the Prius Prime, RAV4, and Highlander hybrids, plus the low interest in the soon-to-be-replaced Tacoma.
Chevrolet came second with a record-high 31%, thanks to the popularity of the Suburban, Trailblazer, and newly launched Colorado. Ford occupied the third place with 30% helped by the gains of the hybrid variants of the Escape and the Maverick, alongside the larger Explorer. The rest of the automakers followed from a distance, including Honda with a record-low 21% limiting it to fourth place due to one of the lowest inventories among non-luxury brands and despite the increased sales.
