America’s Favorite Pickup Truck Is Much More Expensive for 2023

The Blue Oval produces America’s favorite pickup truck, the Ford F-150. Ford F-Series models are a hit in the truck vehicle class. The F-150 regularly battles it out on raking lists with the popular Ram 1500. One of the many reasons why the F-150 is so popular among American drivers is its affordability. The 2023 model year predictably got a price bump, but it’s considerably more expensive than the previous model year.

How much does the 2023 Ford F-150 cost?

A red 2023 Ford F-150 full-size pickup is driving in snow.
The 2023 Ford F-150 | Ford

The 2023 Ford F-150 full-size pickup truck has an MSRP of $34,585. The 2022 model had an MSRP of just $31,520.

So, American drivers have to pay an additional $3,065 for a brand-new 2023 F-150 XL trim. Price bumps typically range between $1,000-$3,000 for most new vehicles, but this increase is especially significant with context.

CNBC claims that markets are preparing for a recession as the year comes to an end. Several industries have experienced major layoffs because of the current state of the economy. Automakers need to increase prices annually to maintain profit margins, but will consumer wages be able to keep up with this latest price bump?

There’s no telling what the state of the economy will be in Q1 or Q2 of 2023, but the likelihood of a high number of new F-150 sales is slim as many Americans cut back on expenses. The F-150 XL and XLT are the only two 2023 F-150 trims below the average new vehicle price of around $46K.

Ford’s most affordable pickup truck is rising in popularity

A blue 2023 Ford Maverick small pickup truck is driving on the road.
The 2023 Ford Maverick | Ford

The Ford Maverick exists on the opposite end of the spectrum from the F-150 full-size pickup. In fact, consumers shouldn’t have to worry about major Maverick price bumps for at least half a decade since it’s so affordable. The F-150, on the other hand, could have a starting price above $40K in the next five years.

The Maverick is popular for several reasons, but its low starting price and affordable cost of ownership capture the attention of most Maverick fans. The 2023 Ford Maverick starts at just $22,195, making it the most affordable pickup truck on the market.

The standard hybrid pickup truck achieves 42 miles per gallon in the city and 33 miles per gallon on the highway. It’s much more affordable to refuel than any other pickup truck.

What’s the best 2023 Ford F-150 trim for the money?

Ford F-150 full-size trucks are parked in a row.
The 2023 Ford F-150 | Ford

Automotive publications like Edmunds and Car and Driver recommend the Ford F-150 Lariat. The 2023 Ford F-150 Lariat starts at $57,480. It comes standard with a leather-wrapped steering wheel, ambient lighting, and a 12-volt powerpoint. The F-150 Lariat also includes heated side mirrors with integrated turn signals, a tire pressure monitoring system, and a remote keyless entry system.

The 2023 F-150 Lariat offers great value for the money, but its high starting price may not be suitable for many average American drivers. It’s significantly more expensive than the average new vehicle. Chances are that many drivers will settle for the 2023 Ford F-150 XLT because of its affordable $41,800 starting price.