40% of Potential Truck Buyers Will Consider All-Electric Models, a New Study Says
Are pickup truck loyalists ready for the electric revolution? It appears that at least four in 10 are.
A new survey from Cox Automotive shows that potential truck buyers are more than a little curious about upcoming all-electric options from Tesla, Rivian, GMC and Ford, reports Car and Driver. In fact, 40 percent of those who responded said they’re considering buying an EV pickup.
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Cox teamed up with MarketVision late last year to conduct a survey of 155 people looking to buy a new truck over the next two years. Of those respondents, just over 60 said they are considering an electric pickup. Of that group, the majority of which are between the ages of 18 and 34, half said they find the already announced crop of options—which includes the Tesla Cybertruck, Rivian R1T, GMC Hummer EV and Ford F-150 Electric—to be appealing.
The survey found that there are two main factors that decide whether a shopper is more likely to prefer a truck with an electric powertrain or one with an internal combustion engine. Those interested in EVs tend to place more value on advanced technology, while those more interested in a traditional gas guzzler care more about horsepower. But all consumers, regardless of powertrain preference, value price and driving performance most. As for the factor they said they cared about least: brand name.
But even among those considering an EV truck, familiarity still holds some sway. When respondents were shown photos of the Cybertruck, R1T, Hummer EV and F-150 Electric, 59 percent of respondents said they found Ford’s battery powered truck appealing, while only 19 percent said the same of the Cybertruck (41 percent of respondents liked the look of the Hummer and 39 percent the R1T). Once branding and product attributes were revealed, the F-150 still led the pack, with 45 percent saying they were likely to consider it, but the Cybertruck leapt to second place, with 32 percent of respondents likely to consider it.
The market should get a more concrete sense for how consumers feel about electric trucks over the next couple years. Rivian’s R1T is expected to go on sale this summer, followed by the GMC Hummer EV later this year. Tesla hopes to put the Cybertruck into production before year’s end, and Ford wants to start building the F-150 Electric during the second half of next year. Let the e-truck wars begin.
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