According to a recent market outlook, U.S. consumers are showing signs of shifting preferences from trucks and SUVs toward more affordable sedans, a change that could impact the profits of major automakers like GM, Ford, and Stellantis. Despite still favoring larger vehicles, a decline in the belief that their next vehicle will be a truck or SUV has been noted, influenced by economic factors such as inflation and high-interest rates. Although full-size pickups are seeing reduced sales, demand for smaller truck models and budget-friendly SUVs remains strong.
The average price of a new truck in January was $59,684, while SUVs sold for an average of $47,667.
A recent market outlook report declares 'Peak Truck' as a trend to watch in 2025, indicating changing consumer sentiments toward vehicle preferences.
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