If you’ve tried looking for a truck to purchase, you must have been surprised by their prices. It’s not easy to imagine purchasing an ordinary truck for close to $100, 000, but that’s the norm in the automotive industry.
Why do Trucks Cost so Much?
Modern trucks cost so much because they couple tough, durable construction with many of the amenities found in luxury vehicles. Creating a vehicle with better technology, better functionality, higher energy efficiency, better towing capabilities, larger wheels, better body material and enhanced entertainment features makes trucks some of the most expensive vehicles on the market.
This article explains some of the factors that increase truck costs as well as what to look for to ensure you’re getting the best deal, regardless of whether you’re buying or selling.
Throughout history, trucks have been considered one of those vehicles that are overly simple; they didn’t come packed with the latest technology. Today, however, every new truck model being released is displaying a new level of technology. It’s common to find current truck models including:
- 12-inch screens
- Massage seats
- HVAC systems
- Heated seats
- Cameras all over the truck
- Fancy lighting systems
- High-tech stereos
Although there are additions that have been integrated to enhance comfort (such as fancy lighting systems and heated seats), many of them are genuinely useful for safety purposes, as you are going to see shortly.
Notably, many of these tech additions usually come as part of a package; that means that you cannot select them a la carte. You have to opt for an expensive package to obtain your desired upgrades.
There are many measures truck manufacturers are taking to ensure their trucks are safer. In many cases, the extra technology has proven critical in providing additional safety. For instance, the latest cameras have been offering truck drivers great views to make it easier to drive such a massive vehicle.
One of the techniques they’ve adopted to make them so is the driver-assistant technology. As you can imagine, such features aren’t the easiest to integrate into a truck, and that’s why they’re impacting on the overall cost of the trucks significantly.
Some of the most popular technologies manufacturers have tried to embed into modern trucks include the parking, brake and lane assists, as well as adaptive cruise control and forward collision warning. Even though these inventions are branded with distinctive names, you’ll hardly find any much difference between them.
Granted, most of these technologies are worth paying for. For instance, many drivers across the country need the brake assist technology to save themselves from road mishaps. For instance, if you approach an unexpected object or person on the road and have to take an emergency stop to save the person or object, this piece of technology would make it easier and safer to do so.
The US government has also played a key role in the increasing truck prices by ordering manufacturers to embed cameras in their manufacturing. Therefore, consumers are having to pay more for modern trucks; the more the technology a truck has, the more you have to pay for it.
Over the years, there has been an outcry for fuel-efficient vehicles. Moreover, manufacturers are coming up with more stringent emission standards in response to the consumer demands. This has led to the release of more gas efficient trucks into the market.
Truck manufacturers are investing in turbocharged motors, turbo-diesel options and hybrids. Obviously, the fuel efficiency features are making the trucks more expensive.
If you’re looking for a more energy-efficient truck to save on fuel, you should expect to part with more cash. This is purely your choice as a consumer on whether you need a vehicle with this feature; in the long run, however, it’s a great investment.
Trucks are coming with great entertainment features, such as touchscreen capabilities. Anyone who loves technology and high-quality entertainment would appreciate such a feature, although it comes with obvious cost implications.
Many people are shunning the older trucks for lacking high quality entertainment features. That’s why you’ll find them being sold for lower prices compared to the modern trucks that come with the new features.
One of the best examples is the Ram 1500 that was released by Ram. Besides having a superb interior, the truck has a 12-inch touch screen. It therefore makes sense why the truck costs higher than its earlier versions.
The sound system is another feature that has driven up the costs of modern trucks. The older truck models don’t usually have a sound system that is as good as the newer models. More precisely, the older trucks have four or five speakers; the newer models can have as many as 20 speakers, translating to a greater quality of sound.
If you want to enjoy the new entertainment features, you have to be prepared to pay extra, as these features translate to a better experience and a higher price.
It’s well-known that aluminum is a better metal than steel when it comes to covering vehicles; it’s also far lighter than the latter. Recently, Ford decided to create one of its truck using aluminum. The truck was eventually sold at a higher price than the others because the metal is more superior to steel. Many drivers also find aluminum trucks lighter, even when they’re loaded with heavy material.
Another reason aluminum is more preferable is the fact that it doesn’t corrode. Steel, on the other hand, doesn’t maintain its good shape when it gets into contact with compounds like water.
Aluminum is also highly durable, and manufacturers like Ram and Chevy are now using it to make better trucks. Although the material is usually used to make certain body panels, such as the hoods, tailgates and doors, it still does add up to the overall price of the vehicle in the long run.
The trucks being released today are characterized by better towing capabilities. The medium and large trucks are coming with towing parts which enable the hauling of heavy loads. Notably, manufacturers have been under pressure to make these towing parts dependable.
They have had to make them in a way that ensures they manage a lot of pressure, like towing cars and pulling heavy loads. For instance, the truck has to have a more sturdy body chassis to tow heavier loads. Similarly, the suspension components and brake pads have to be thicker and stronger to support these functions.
To achieve that, they manufacturers have had to upgrade the quality of material being used to make these parts, and that has impacted the prices significantly.
Among the best trucks in this regards include the 2020 GMC Sierra that can tow as high as 35, 500 lbs. The 202o Ram 3500 Heavy duty, on the other hand, can also tow as high as 35, 100 lbs., and the 2020 Ford F-450 Super Duty can comfortably tow 37, 000 lbs.
To an extent, the large sport utility vehicles have led to the trucks’ price increase. For a while, these vehicles had most of the characteristics that define trucks.
When it comes to towing, there are some SUVs that wouldn’t have a problem hauling about 9,000 lbs. what’s more, these vehicles are spacious, versatile, full of expedient equipment that is sure to make your trip more enjoyable. Due to this fact, trucks just has to match the offer.
Currently, manufacturers are releasing trucks that can tow more than 30,000 lbs. This is far from the amount of weight that SUVs can tow. Due to such upgrades, trucks cost a lot more than they previously did. Trucks have been created to work harder and be more functional than before.
If you’ve recently stood beside the wheels of a truck, then you must have noticed how large those wheels are. Actually, truck wheels seem to be getting larger over time. Although some models are made to be of a smaller profile, and they may present the typical SUV type wheels, truck wheels are generally large.
The large wheels use more materials and time to manufacture, meaning that they have to cost more. Some manufacturers are even taking it a step higher by using aluminum to create better-looking wheel rims.
They are also manufacturing the cars with chrome painted wheels (instead of black painted ones). Generally, it costs more and takes more time to come up with a set of chrome painted wheels.
All these extra expenses have to be transferred to the consumer; this is one of the reasons why trucks are more expensive today than ever.