Pickup trucks are a hot commodity these days. The supply chain issues and production delays across the board have created a bit of a log jamb for the automotive industry. With pickup truck demand sky-high, the truck market is getting hit particularly hard. This, along with the increasing tech-heavy features expected in trucks, has created a perfect storm of pricing for our once budget-friendly stuff haulers. So, the question is: how much do you have to pay for a pickup truck in 2022?
Why are pickup trucks so expensive?
As previously mentioned, the car market is experiencing a bit of a log jam. There is more demand than there is supply, which makes for high prices. But that isn’t the only thing driving prices. Not only do we expect more out of our vehicles, like cameras, heated parts, safety features, censors, better gas mileage, and of course, insane power, but vehicle safety standards have also increased. Both of these factors lead to vehicles that are far more expensive and time-consuming to make. Not to mention, when adding all these tech components, they all require semiconductor chips, which there is still a world shortage of.
So we are left with a product that is expensive to make, with parts that are in short supply and a long line of buyers hungry for the product.
How much is the cheapest new pickup truck right now?
The 2022 Ford Maverick is the cheapest new pickup truck on the market as of this writing. According to cars.com, the 2022 Ford Maverick is still the cheapest new pickup truck on the market. Starting at $22,195 MSRP, the Maverick is hard to beat. However, for all the reasons previously stated, actually getting your hands on one is a bit of a challenge. This tiny pickup truck comes right on time with a super-efficient 191-hp 2.5-liter four-cylinder hybrid engine netting 37 mpg combined. Not only is it cheap to buy, but it’s cheap to drive.
The 2022 Hyundai Santa Cruz is a close runner-up, starting at only $25,450 but topping at over $40k. While it’s a few bucks more, the Hyundai pickup is an interesting choice because of its tiny size and its similarly effcient 2.5-liter gas-powered engine averaging 25 mpg combined.
From there in order goes the 2023 Toyota Tacoma starts at $27,250, then the 2023 Ford Ranger at $27,400, the 2023 Nissan Frontier at $29,190, and lastly, for the mid-size pickups, the 2023 Honda Ridgeline starts at $38,800.
What’s the cheapest new full-size pickup truck?
The venerable 2023 Ford F-150 leads the pack of the cheapest new full-size pickup trucks with a starting price of $34,585. The new and improved 2023 Toyota Tundra comes next, starting at $36,965, followed by the 2023 Chevy Silverado, 2023 Ram, and GMC Sierra 1500s all around the $37,000 mark. The Nissan Titian bumps up against $40,000 for the starting MSRP, and then the Rivian R1T tops the starting price charts at $67,500.
Although these are the starting prices, all these trucks can quickly jump over $50,000. In fact, some of them can ever crest $100k in their highest trim, like the Ram TRX and the Ford F-150 Raptor.
Should you buy a pickup truck right now?
Pickup trucks have never spanned such a wide variety of prices. With a price range of $20k-$100k, the pickup truck market is certainly in a strange and unique spot. Unfortunately, many jobs require a pickup truck, and for those in need, nothing else will do. But if you don’t actually need a pickup truck for work, now might not be the best time to go for one. Once supply levels out and demand begins to wane, the market will likely revert back to a proper range of affordable used pickup trucks to expensive performance models.