J.D. Power Report Suggests Most Ford Truck Buyers Are Millennials

J.d. Power Report Suggests Most Ford Pickup Truck Buyers Are Millennials

The brand new 2022 Ford Maverick has thus far proven to be a massive hit with Millennials and Gen Z. In fact, more than one-quarter of Maverick buyers so far are between the ages of 18 and 35 – more than double the overall industry rate of 12 percent for that age group. However, younger buyers aren’t just scooping up compact pickups – the majority of Ford pickup truck buyers in general, as well as pickups from every other brand, are now Millennials, according to J.D. Power.

2020 Ford Ranger
2020 Ford Ranger

“Demographic information moves very slowly, but last year Millennials took over in April during the peak of the coronavirus pandemic,” Tyson Jominy, J.D. Power vice president of data & analytics told CNBC. “We thought it was kind of a blip, but it’s only increased since then. It shifted overnight, and it has gotten faster every month.” While it’s normal for each generation to take over for the last in this way, Jominy noted that Millennials are doing so at an “astonishing” rate.

2021 Ford F-150 truck
2021 Ford F-150

Millennials have already overtaken Baby Boomers in terms of larger truck purchases, and are on pace to buy more compact and mid-size pickups by the end of the year as well. Altogether, Millennials are on track to become the largest buyers of midsize, full-size, and heavy-duty pickups for the very first time. “It’s a coming-of-age story for Millennials maturing and getting promoted in their jobs and coupling and procreating and moving to the suburbs and all that normal stuff,” Jominy said.

2022 Ford F-150 Lightning electric truck
2022 Ford F-150 Lightning electric truck

In the world of the Ford pickup truck, this is great news for a brand that is not only enjoying strong sales of the new Maverick, but already has over 16 million Ford F-Series pickups (Ford F-150 and Ford Super Duty) on the road in the U.S. The 2021 Ford F-150 recently maintained its position on the Q3 KBB Brand Watch Report as the most considered pickup truck among shoppers, while the 2022 Ford F-150 Lightning recently topped the list of the most considered electric pickup trucks.

Source: Ford Authority



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