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For years, the Ford F-150 XL has been the most inexpensive work truck available. The automaker deleted options such as power windows and carpets to keep its MSRP under $30k. But after global supply chain shortages, Ford increased the F-150’s MSRP by several thousand for 2023, and then bumped it another $2,735 for 2024. The Chevrolet Silverado 1500 may be the cheapest full-size truck of 2024. But there’s a good reason the entry-level Ford’s price increased so much.

ConfigurationManufacturer’s Advertised MSRP
2024 Chevrolet Silverado 1500 WTRegular cab (2-door)$36,800
2024 GMC Sierra 1500 ProRegular cab (2-door)$37,700
2024 Ford F-150 XLRegular Cab (2-door)$38,565
2024 Ram 1500 TradesmanQuad cab (small 4-door)$38,750
2024 Toyota Tundra SRDouble cab (small 4-door)$39,965
2024 Nissan Titan SKing Cab (rear suicide doors)$45,770
New Pickup Truck Price Chart

How much is a 2024 Chevrolet Silverado 1500?

For the 2024 model year, Chevrolet will charge at least $36,800 for its half-ton Silverado 1500. This MSRP is before General Motor’s $1,995 destination charge and other fees.

White Silverado 1500 pickup truck on an off-road trail, trees visible in the background.
The 2024 Chevrolet Silverado ZR2 Bison | General Motors

In some locations, GM may offer cash off its trucks. The Chevrolet’s website puts the net price for a regular cab, 2WD Silverado 1500–in Detroit, Michigan–at $37,445.

Like many other automakers, Chevrolet offered an entry-level full-size work truck for $30k into the 2022 model year. For 2023, it dramatically increased the MSRP. But Chevrolet sought to offer a lot more value at this higher price. So the 2023-present Chevy Silverado 1500’s new base engine is the 2.7-liter Turbomax I4.

The outgoing base engine was a 4.3-liter naturally aspirated V6 that made 285 horsepower and 305 lb-ft of torque. The Turbomax is a 2.7-liter turbocharged I4 currently tuned for 310 horsepower and 420 lb-ft of torque.

Why did the 2024 Ford F-150’s MSRP go up?

Ford fans may be shocked at the $38,565 MSRP of the refreshed 2024 F-150. For a long time, the XL was a stripped-down version of the F-150, and the least expensive work truck. Huge price hikes for 2023 and 2024 came after global supply chain shortages, and Ford rolled out a more powerful base engine.

The leather interior of a top-trim F-150 Tremor pickup truck.
2024 Ford F-150 Tremor | Henry Cesari via MotorBiscuit

The company brass at Ford must have been watching Chevrolet carefully. Just like Chevy, Ford is tossing its naturally aspirated V6 engine. That was a 3.3-liter V6 which made 290 horsepower and 265 lb-ft of torque. Instead, even the F-150 XL will come with a 2.7-liter V6 EcoBoost standard. The turbocharged engine makes 325 horsepower and 400 lb-ft of torque and is comparable to Chevrolet’s Turbomax.

When Ford unveiled the visual refresh of the 2024 F-150 it also announced a $2,735 price hike (according to Car and Driver). Part of this increase is the standard, inflation-based bump. The rest of it is in line with the surcharge that the EcoBoost engine upgrade would have cost you in 2023.

But do check the latest F-150 prices for yourself: Ford is offering multiple regional discounts. For example, when I punch in a Detroit zip code, I’m seeing the 2024 F-150 XL prices (in October 2023) drop to $36,570.

How much will a full-size pickup truck cost in 2024?

Pickup trucks are racing toward the $40k MSRP. The 2024 Nissan Titan (its final year of production) starts above $45k. The Toyota Tundra increased by $1,000 and is just a hair under $40k. Both Chevrolet and Ford have increased the number of options and engine power that you must order in their entry-level work trucks and bumped the prices.

A blue 2024 Ford F-150 XLT pickup truck towing an RV up a road lined with trees.
2024 Ford F-150 XLT | Ford

To be blunt, most automakers clung to the $30k pickup truck MSRP for too long. In 2000, a pickup truck already started at $20k, while a Big Mac was half the current price. What is shocking is how fast those MSRPs climbed from $30k to almost $40k (just a few months). But even two years ago, few buyers were opting for trucks so stripped down that they actually cost less than $30k. What we are truly seeing is a shift in what an “entry-level” truck includes.

There is one more factor in the 2024 pickup truck pricing lineup. Ram has not yet announced the status of its 1500 “Classic.” The Classic is a newly-built fourth-generation Ram that the automaker targeted at fleet buyers, and the automaker’s only regular cab option. The truck, which has remained relatively unchanged since 2009, currently has a 2023 MSRP of $31,270.

Next, find out why the Nissan Titan was the first truck to start over $40k, or you can see the 2024 Ford F-150 in person in the video below: