In 2010, according to J.D. Power and Associates, trucks and SUVs made up 52.7 percent of new auto sales, outnumbering cars by only a slim margin. The popularity of trucks and SUVs among American buyers surged in 2021, with trucks and SUVs making up 78.5 percent of new auto sales for the year. In March 2022, Statista data shows that light trucks still dominate 75.3 percent of new auto sales. Interest in the new electric pickup trucks is also increasing.
Millennials, Pickups, and Electric Vehicles
J.D. Power data also shows that in 2021 millennials aged 22 to 42 made up the largest group buying pickups, from midsize to full size and heavy-duty.
Millennials were also the biggest buyers of electric vehicles in 2021, snapping up 35 percent of sales. Baby Boomers aged 58 to 76 accounted for 29 percent, while Gen X aged 42 to 57 accounted for 26 percent.
Not surprisingly, a survey by CarGurus among pickup truck owners at the end of 2021 showed that 43 percent of them expect to purchase an electric pickup within the next ten years. Among millennial pickup truck owners, a higher 50 percent intended to do so.
Electric Pickup Trucks in 2022
Interested buyers already have several electric pickup trucks to choose from. Rivian sold the first electric pickup in September last year, its R1T. Available models can drive 314 miles on one charge and cost $67,500 to $85,000. Its towing capacity is 11,000 pounds.
The F-150 Lightning pickup from Ford can drive 320 miles on one charge and costs around $72,500. It can tow 10,000 pounds. While the F-150 Lightning pickup is on the market, you have to wait until 2025 to get one.
There are over 200,000 reservations, and Ford has closed reservations for now. The company can only manufacture 15,000 units in 2022; 55,000 units in 2023; and 80,000 units in 2024. The demand is understandable since the non-electric Ford F-Series pickups were the bestsellers worldwide in 2021.
Also on the market is the Hummer EV from General Motors. It can drive 329 miles on one charge and costs $110,000 upwards. Its towing capacity is 7,500 pounds.
Another electric pickup to be launched in 2022 is the RAM 1500 EV. To start production in the fall, it comes bearing the excellent reputation of its non-electric counterpart, which was the second bestselling pickup truck worldwide last year.
In 2023, the Chevy Silverado EV from General Motors and the Cybertruck from Tesla are scheduled for launch. According to LMC Automotive, the market for electric pickups in the U.S. will be at 25,000 units in 2022. By 2030, it is projected to reach about a million units.
Advantages of Electric Pickup Trucks
There are many reasons why choosing an electric pickup is best.
Good for the Environment
Pickups with internal combustion engines (ICE) release a lot of pollutants into the air, contributing to smog and climate change. Electric pickups generate less than half of those emissions over their lifetime. That covers their entire life cycle from production to end-of-life recycling. Electric vehicles have a much smaller environmental footprint and are more environmentally friendly.
Additionally, electric motors are more efficient than ICE engines. They don’t lose as much power to heat and friction. This makes them produce more energy and travel the same distance with less fuel. That means resources are conserved. Furthermore, electric motors are quiet. They do not add to noise pollution.
ICE pickups take time to build up power because their engines need to be revved up to high speeds to produce high torque levels. They typically use a V8 engine to produce around 400 horsepower.
Electric pickups generate torque instantly. This makes them much more responsive and gives them superior acceleration. Also, the Rivian R1T, for example, has 835 horsepower. This makes electric vehicles much better suited for heavy-duty applications such as hauling a trailer or climbing a steep hill.
Easier and Cheaper Maintenance
According to the Office of Energy Efficiency and Renewable Energy, their ICE vehicles cost 10.1 cents for every mile in maintenance. Their electric cars only cost 6.1 cents for every mile to maintain. That is because an electric engine does not have parts such as spark plugs, oxygen sensors, timing belts, and others. It also does not need engine oil.
Electric Vehicle Tax Credit
You can claim local, state, and federal tax credits as an incentive for buying an electric vehicle. Federal tax credits will save you $2,500 to $7,500. There are also available rebates when you purchase or lease an electric vehicle and install a charging station at home.
There are various guidelines and restrictions for these benefits, and they may differ according to the state and locality. It’s best to research before you buy to be sure to choose a vehicle that fulfills the requirements.
Drive an Electric Pickup
As pickup trucks continue to trend in 2022, many auto buyers choose electric models for their environmental friendliness, powerful performance, and easy maintenance. With various tax credits and other incentives available, electric pickups are becoming more and more popular each year. If you’re in the market for a new truck, consider an electric model — you may be surprised at how much you like it.