The vehicle class of electric pickup trucks is heating up. Some of the largest car manufacturers in the world are producing nameplates for electric vans. Models like the Ford F-150 Lightning are selling at the speed of light. It looks like only an electric pickup truck will be available to most Americans by 2023.
Electric pickup trucks can be hard to buy for
There are plenty of electric pickup trucks on the market, but not many are easily accessible. Most electric pickup trucks on the market are incredibly expensive. The Rivian R1T has a starting price of $73,000 after the brand got rid of the base Explore model. The Lordstown Endurance starts at around $65,000.
The 2023 Ford F-150 Lightning starts at $51,974. Its price increased by $12,000 from the 2022 model year’s starting price of $39,974. Additionally, the 2022 model year was eligible for a $7,500 federal EV tax credit. So some buyers paid $32,474 for the 2022 Ford F-150 Lightning before taxes and additional fees.
The F-150 Lightning may be more affordable than some of its rivals, but order banks filled up quickly when the truck first became available for purchase. Now that the reviews are out, the 2023 Ford F-150 Lightning will be just as hard to buy as the previous model year, if not harder to buy.
The Chevy Silverado EV WT will be the cheapest electric truck on the market
General Motors has big plans to make an impact in the EV space. The American automaker has the potential to compete with Ford and Tesla in the coming years.
The Chevy Silverado EV will be Chevrolet’s first electric pickup truck. It could also be the most affordable electric truck on the market once it arrives. Chevrolet’s website states that the Silverado EV electric pickup truck has an estimated MSRP of $39,900.
Even after taxes and fees, the Silverado EV will likely be the most affordable electric pickup on the market due to high starting prices from competitors. GM Authority claims that a study showed that few Silverado EV reserve holders actually plan to buy the electric pickup truck. So once the 2024 Chevrolet Silverado EV arrives in spring 2023, there should be plenty of models available, unlike its rivals.
The average American driver should be able to afford a new Silverado EV based on new car prices. It looks like the electric truck will be a lot easier to buy than models like the F-150 Lightning, too. This could give GM a huge sales advantage in the long run. Models like the Toyota RAV4 prove that vehicles can become popular based on affordability and practicality over performance.
GM has a big opportunity in 2023
The year 2023 could be huge for General Motors. If the 2024 Chevy Silverado EV WT starts under $40,000, then Chevrolet could sell a lot of electric pickup trucks. The Silverado EV could become commonplace on the roads if it’s readily available and affordable. According to CNBCGM has a multi-step plan to get more drivers to switch from gas-powered vehicles to electric vehicles. Will 2023 be the year General Motors dominates the electric pickup space?