Ford (NYSE: F) turned in lackluster January sales. In total, they were up 4% to 152,617. Sales of its flagship F-series full-sized pickup, the top-selling vehicle in America, dropped 12% to 48,702. Sales of Ford’s smallest pick-up, the Maverick, rose 98% to 12,443.
Full-sized pick-ups have been America’s top-selling vehicle category for years. The F-series is often followed in unit sales by the Chevy Silverado and RAM. Smaller pickups are an afterthought.
The Maverick has a base price much lower than the F-150. The Maverick’s is $21,815, while the F-150 is $34,585. Each has a hybrid model. Hybrid sales have risen across much of the industry, as EV sales have disappointed. Ford is having trouble selling EVs.
The Maverick has gotten extraordinary reviews from auto research firms and industry publications. Car and Driver gave it a rare 10 out of 10 rating. Its editors wrote, “Overall, the Maverick is a compelling small pickup truck with exceptional practicality baked in. We’ll no doubt see more compact pickup trucks entering the market in coming years, but right now, the Maverick exists in a class of two, competing only against the more expensive Hyundai Santa Cruz.” This is the state where the most people people drive pick-ups.
Each major car company tends to follow the success of others, whether in the pick-up category or hybrids. Chevy, Ford’s primary competitor, has a mid-sized Colorado pick-up. However, if it wants to chase Maverick’s success, it will need to introduce a compact pick-up product of its own. The same will be true, almost certainly, for the RAM brand. Wait a year or two, and Maverick will have several rivals. A doubling of sales is simply too attractive to ignore.
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