Consumers are paying more than ever to finance a new vehicle in 2023, and shoppers in Texas and Wyoming committed to monthly payments of $1,000 and more.
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"If it's almost 15% of the market, and most are $50,000 to $60,000 as an average," he said."That's going to significantly drive up the overall industry transaction price." A decade ago, top prices for trucks could go as high as $60,000. Nowadays, midsize trucks are soaring past that, and full-size pickups are topping out close to $100,000, he said.
Pickup trucks have larger fuel tanks, allowing these vehicles to have longer ranges. Drivers in Texas and Wyoming have to navigate long, rural distances between towns or through mountains.
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