Until just recently, the Ford F-150 was the best-selling vehicle in America. However, by the end of last year, Americans took home a greater number of Toyota RAV4s than they did F-150s. Still, Ford wants to remain competitive in the full-size pickup truck market, despite budget-minded truck shoppers turning their attention to the RAM 1500 and Chevrolet Silverado.

Ford CEO Jim Farley acknowledges that the Ford F-150 is facing ‘price pressure’ in competition with RAM and Silverado

At the recent Wolfe Research Auto, Auto Tech and Semiconductor Conference, Ford CEO Jim Farley said that Ford is walking a tightrope between two distinct points in the pickup truck market. “The full-size truck market is in two different markets and they’re almost completely different,” Farley said at the conference.

“You have the RAM price zone and then you have the Ford [and] GMC price zone. And, as RAM suffered, GMC has done a great job as Ford has gotten some market share,” Farley added. The Blue Oval’s CEO also pointed out that Ford’s premium truck performance has been in the green for years. 

Interestingly enough, Farley nodded to the competition among wallet-focused truck buyers. “The commodity part of the market, someone who’s on a budget and is going to buy an XL or an XLT F-150, they’re really looking at RAM and Silverado,” Farley said at the automotive technology conference, per Ford Authority. “Yes, I think there’s going to be a lot of price pressure,” 

Budget-minded pickup truck shoppers are an important consideration for Ford and the future of the F-150

There are few rivalries in the auto industry as rough-and-tumble as the one between the F-150, RAM 1500, and Silverado. America loves its large pickup trucks, and the sales show for it. Last year, the F-Series, Silverado, and RAM were among the best-selling lineups in the country.

However, increasing sticker prices for new vehicles and stratospheric interest rates are putting the squeeze on would-be F-150 buyers. Paired with sky-high demand and pricey technological advances, new trucks are reaching new levels of expense. As such, shoppers are looking at the F-150’s closest competitors.

Most notably, the Chevrolet Silverado 1500 starts at around $37,645, nearly $2,000 less than the base-model Ford F-150 XL. Now, Ford will likely endeavor to close the gap and continue to walk the line between no-compromise quality and affordability. However, in the meantime, the competition for affordable full-size trucks is a heated one.