The $100K electric truck market is here

Detroit – Tesla, General Motors, Rivian Cars and Ford Motor Company A new market has been created in the U.S. auto industry for expensive, powerful, and unstable electric pickup trucks priced at $100,000 or more.

Just five years ago, the idea of ​​customers paying six figures for a pickup truck, historically a work vehicle used for hauling and towing, made national headlines. But it’s quickly becoming normal as automakers try to increase profits on traditional trucks and only make profits on electric trucks.

“Customers are willing to spend money, so automakers are going to offer it to them,” said Stephanie Brinley, chief automotive analyst at S&P Global Mobility. “In general, pickup trucks are getting more equipment. , better features and better materials really reflect the attitude of consumers who want more.”

But electric trucks are more expensive than traditional $100,000 combustion-engine pickup trucks, in part because of their technology, including the expensive batteries needed to power the vehicles.

“If you think about who is actually buying these new electric cars, it’s definitely for [automakers]”It’s a different demographic,” said Stephanie Valdez Streaty, director of automotive industry insights at Cox. “These are very expensive, very niche vehicles.”

There are several electric trucks currently available for purchase in the U.S.: Tesla Cybertruck, Ford F-150 Lightning, Rivian R1T and General Motors Corporation’s GMC Hummer EV, GMC Sierra Denali and Chevrolet Silverado. The GMC Hummer and Rivian also have SUV versions, which have similar functions to pickup models, but in different forms.

All of these vehicles sell for close to or easily over $100,000, including the Tesla “Cyber​​​​​​east” model that sells for about $120,000 and the limited edition GMC Hummer that sells for more than $150,000. Kelley Blue Book reported that both vehicles traded for more than $100,000 last month, with the Tesla Cybertruck becoming the best-selling vehicle in the U.S., selling for six figures or more.

By comparison, the average price of a traditional full-size pickup truck is $65,713, including an average 7 percent discount incentive, according to Kelley Blue Book.

Overall, the electric “truck” market, which includes SUVs, sold nearly 58,000 vehicles in the first half of this year, according to Motor Intelligence estimates. Data show that this proportion is less than 1% of the approximately 7.9 million new light vehicles sold in the United States during the same period, but an increase of 35% from the first quarter to the second quarter.

The market is expected to continue to grow, but so far I’ve driven each $100,000 vehicle for varying amounts of time. They all ride and handle well, but in different ways. Here are some thoughts for each question:

The Tesla Cybertruck leads the way in almost every aspect including design, functionality, polarization and features.

It’s more like “network” than “truck”. It does have some truck features, like a pickup bed and other practical features, but it’s not a truck in any traditional sense.

The Cybertruck features a compact steering system that includes a joystick and a “steer-by-wire” system; a stiff, sports car-like chassis; and although casual, the design is more about form than function, which has historically been one of the top reasons to buy a pickup truck. one.

Like its GM rivals, the Cybertruck features “four-wheel steering,” in which all of the vehicle’s wheels help steer. It makes large vehicles easier to maneuver than traditional vehicles that turn on two wheels.

What the Tesla Cybertruck lacks in traditional “truck-ness,” it makes up for in technology and the human-machine interface (HMI) of the vehicle and driver.

The vehicle can be described as a technological experiment for the company in many ways.

• advantage: Design, technology, software, weight (lowest in class), four-wheel steering
• shortcoming: Design, bed usage, interior space and quality

The GMC Hummer EV is the first electric truck to hit the market and is most comparable to the Cybertuck in terms of performance, price, and overall panache.

Driving a vehicle, whether on or off-road, is an experience. General Motors calls it the world’s first “super truck.” According to the EPA, it is the fastest, largest and least efficient consumer electric vehicle currently on sale. The SUV version is smaller and easier to drive than the pickup version.

Both Hummer models carry the burden of GM’s rapid automotive development. They’re heavy compared to all other consumer vehicles on the market today, including their all-electric truck counterparts (estimated pickup trucks weigh nearly 9,200 pounds).

While the Hummer EV can do 0-60 mph in 3.5 seconds or less and its performance parts are very capable, the vehicle’s weight could easily be reduced The feeling of driving them.

GM’s designers have done a good job modernizing the exterior design of the new electric Hummer, including the ability to remove the roof panel. But the interior feels very bulky like the vehicle itself.

• advantage: Design, features, durability, four-wheel steering, hands-free Super Cruise advanced driver assistance system
• shortcoming: Design, efficiency, spacious interior, range

General Motors’ latest all-electric pickup trucks are the Chevrolet Silverado and GMC Sierra Denali, both of which are available in higher-end models priced at nearly $100,000.

While the GM design team has done a great job of differentiating the looks of the vehicles to appeal to their respective brands, the vehicles’ parts and features are essentially the same.

Both cars have an EPA-rated range of 440 miles and offer up to 754 horsepower and 785 pound-feet of torque. Importantly for many truck customers, they can also tow up to 10,000 pounds and can be charged 100 miles in about 10 minutes using a DC fast charger (provided you can find a compatible charger).

The Sierra is more refined and luxurious than its Chevy counterpart: It has open-pore wood, a larger overall screen, GMC’s “Crab Mode” and four-wheel steering (shared with the Hummer), among other features.

A unique standout feature of the Silverado and Sierra EV compared to other electric vehicles is the “midgate” feature, in which the vehicle’s rear seats fold down and the rear glass can be opened to create a nearly 11-foot-long truck bed and segment Leading cargo area.

Both the Silverado and Sierra EVs drive well and feel like a “truck,” but are also significantly heavier than their non-GM rivals.

• advantage: Capacity, charging speed, range, super cruise, mid-door, four-wheel steering
• shortcoming: Efficiency, interior (mainly Silverado), weight

When it comes to outdoor adventure and lifestyle vehicles, Rivian’s flagship R1T pickup and R1S SUV continue to excel in the electric truck segment, following the likes of Jeep.

The second-generation vehicle, released earlier this year, improves the truck’s ride and quality. The R1S’s driving experience is noticeably smoother than the first-generation vehicle.

While the exterior design of the second-generation vehicles remains largely unchanged, Rivian says they have 10 times the computing power of their predecessors. The company also replaced more than half of the hardware components.

Where the R1T and R1S really stand out is their interior design. They’re minimalist, much like Tesla products, but still have enough other controls to appease mainstream traditional buyers. The functionality and HMI are also impressive.

• advantage: design, software, interior
• shortcoming: Charging speed capability, no four-wheel steering, advanced driver assistance systems

The F-150 Lightning is the most approachable all-electric truck on the market. That includes its starting price of about $63,000, driving dynamics and features. It operates largely like a traditional F-150, but it’s electric. That’s because it shares many parts with its internal combustion engine siblings.

When the F-150 Lightning hit the market, it was the first “mainstream” electric truck. It follows the Hummer “Super Truck” and the Rivian R1T, but for traditional truck owners, it’s the first true test of an all-electric vehicle of this type.

The vehicle performed well when it was first introduced, but competitors have largely caught up to or surpassed it in terms of range, driving dynamics and overall performance, especially compared to the aforementioned $100,000 trucks.

With a price tag of up to $90,000, the F-150 Lightning is still a solid vehicle, but competition for buyers looking to spend around $100,000 or more is much tougher than it will be when the truck launches in 2022.