Are you ready for the $50,000 pickup truck?
A new report says the average price for a pickup will soon cross the $50,000 threshold, a sticker price typically associated with luxury models.
If your image of a pickup truck is a beaten-up old farm vehicle, think again.
Today's pickups are often shiny testaments to driving in luxury, with refined interiors and the latest tech features.
That's why the average price for the three most popular pickups is now well over $40,000.
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According to the auto website Edmunds, those buying the new Chevy Silverado will likely pay more than $50,000.
"For pickup trucks to hit that mark really shows how far they have come, the transaction prices have grown by almost 48% in just one decade," said Jeremy Acevedo of Edmunds.
Why are full-size pickups coming with super-sized prices?
First, the big three automakers keep raising the bar. As soon as Ford's latest F-series rolls off the line with new capabilities and features, designers and engineers are working to make next Dodge Ram 1500 just as capable, as are engineers over at General Motors. Each manufacturer where adding on even more features, wherever possible.
That's pushing up prices.
At the same time, new full-size trucks have become status symbols, especially in suburban America, where pickups are often replacing high-end SUVs.
"So these are really well appointed vehicles that come with not only status but also all the creature comforts that would come with an SUV. The only thing they are generally missing is that third row which a lot of folks aren't really looking for," said Acevedo.
While Americans are paying more than ever for a new full-size pickup, it hasn't cut into their desire to buy a truck.
Full-size pickup sales this year are up almost two percent and outpacing the auto industry as a whole.