Fuel economy a high purchase consideration for modern truck buyers even as fuel prices drop
Desire for better fuel economy significantly increased over past five years
SANTA MONICA, Calif., Jan. 23, 2015 /PRNewswire/ -- TrueCar, Inc. (NASDAQ: TRUE), the negotiation-free car buying and selling mobile marketplace, found that today's full-sized pickup truck buyer has grown increasingly interested in fuel economy and MPG ratings even in a period of falling fuel prices.
Since 2010, buyers rating "fuel economy and mpg" as extremely to very important increased significantly from 55.4 percent to 71.1 percent in 2014. Still, fuel economy trails the very real functional requirements truck buyers demand, such as towing capability. Some 80.9 percent rank that purchase consideration as extremely to very important, which is consistent with market findings in 2010.
"Like car buyers, truck buyers have high expectations for advanced technology and innovation," said John Krafcik, president of TrueCar. "With the average full-size pickup transacting over $40,000, it's a must that new generation trucks have improved fuel economy and more truck capability – from payload to towing – than ever before."
With current fuel prices hovering just above $2.00, there has been a shift toward utilities and pickups and a waning demand for cars and hybrids. However, the benefits of fuel economy are not lost on the modern full-size truck buyer; when gasoline prices rebound to more normative levels, expect MPG to remain top of mind for these consumers.
"The full-size pickup buyer's demand for improved towing and payload performance remains unaltered," said Krafcik. "What has changed is that the buyer now expects the best of both worlds: more utility and more fuel efficiency. The new 2015 Ford F-Series is a great representation of that philosophy with its lighter all-new aluminum body enabling more payload, more towing and fuel efficiency improvements."
About TrueCar
TrueCar, Inc. (NASDAQ: TRUE), the negotiation-free car buying and selling mobile marketplace, gives consumers transparent insight into what others paid and access to guaranteed savings off MSRP from TrueCar Certified Dealers. TrueCar's network of more than 9,000 trusted Certified Dealers is committed to providing upfront pricing information and a hassle-free buying experience. TrueCar powers car-buying programs for some of the largest U.S. membership and service organizations, including AARP, American Express, AAA and USAA. Not all program features are available in all states. TrueCar is headquartered in Santa Monica, California, with offices in San Francisco and Austin, Texas. For more information, go to www.truecar.com. Follow us on Facebook or Twitter (@TrueCar).
TrueCar media line: +1-844-469-8442 (US toll-free) | Email: [email protected]
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SOURCE TrueCar, Inc.
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