Sales of full sized pickup trucks in the US are down 17% in the first quarter of 2022, in an overall market down 16%. With just over 472,000 deliveries, the class is set to shrink again after hitting a 7-year low last year. However, it’s still the third-largest class in the United States, after compact crossovers and midsized crossovers. Its share declined 0.2 percentage points to 14.3%.The traditional class leader Ford F-Series starts the year on a low note with deliveries down 31% and loses 6 percentage points of market share to 29.8% of the class. That leaves the RAM Pickup just 13,500 deliveries behind in second place thanks to a 15% decline in deliveries. The best performer in the top-3 is the Chevrolet Silverado at -6%, just 22,000 deliveries from the top spot. General Motors is the biggest manufacturer of full-sized pickup trucks, with the GMC Sierra in fourth place and the Hummer EV Pickup at #7 adding up to a total of nearly 175,500 deliveries, an advantage of 35,000 over Ford. Production of the all-new Hummer is slow to ramp up, even though the entire capacity has already been sold out until 2024. The upcoming EV version of the best seller, the F-Series Lightning will be one of the most important launches for Ford and it’s hoping for a more streamlined launch. However, that’s not something the company is famous for.
The Toyota Tundra has just been redesigned for the first time in almost 15 years and promises to take a larger chunk of the full-sized pickup truck pie from its domestic rivals. And the new truck is the only nameplate in the class to improve on last year with sales up 18%, adding 1.4 percentage points of share to 4.8%. It sells more than triple the numbers of the Nissan Titan, down 14% and still by far the slowest seller in the class.
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