Proof: Pickup truck prices have gone insane

Kinja'd!!! "shop-teacher" (shop-teacher)
01/10/2015 at 21:50 • Filed to: car buying, truckyeah!

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I spent some time last week cleaning out and moving my home office (thanks polar vortex 2!). In a flurry of old papers and diecast cars, I found the window sticker for my 2006 GMC Sierra. My apologies for the potato pic, the scanner and I went 12 rounds ... I lost. Looking it over, I was reminded just how cheap it was. My truck is a 2WD crew cab with power windows, mirrors, and locks, key-less entry, CD player, and, most importantly, the 4.8L V8, a locking rear differential, and a towing package. All this for the low, low price of $26,720!

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So, I decided to go take a look at GMC.com, and see what my truck's little brother goes for these days. Obviously, the equipment and options have changed, so I spec'd it's closest equivalent. Of course, nobody actually pays sticker price (I certainly didn't), but that's what I'm going to compare, so that it is as apples to apples of a comparison as possible.

My, my, my, things have changed. The cheapest base model regular cab, short bed stickers for over $1000 more than my truck did, $27,800.There is no longer a 4.8L V8, but the new 4.3L V6 is actually rated at a touch more HP and torques than my V8, so I spec'd that. Option packages being what they are, in order to get all of the things my truck has, you'd also get a rear camera, a 110 volt 3-prong outlet, and LED cargo box lights. You don't get a CD player (that'd be another $200), but you do get USB ports, an AUX jack, and an SD card slot.

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The grand total for all this new hotness is $37,850. In only 9 model years, the price for a truck with nearly the same capabilities has gone up $11,130. That is a whopping increase of 41.7%! Now, I haven't driven one of the new trucks, but I'm sure it's nicer. I have sat in them, and the interior seems to be a bit higher quality. I bet the new trucks ride a little smoother and perhaps they are a little nicer to drive, and I'm sure it gets a bit better fuel economy. Could they POSSIBLY be 40% better? I don't think so.

I say nearly the same capabilities, because they aren't actually better. It has a marginally higher payload rating, and a marginally lower towing rating (100 pounds). What is the one thing I could do with this truck can do, that I cannot do in my current truck? I could hook my I-pod up to the new truck. As the great motivational speaker, Matt Foley, would say, "La de FREAKIN' da!"

So, there is as close of a comparison, as you're going to get. Proof that pickup truck prices have gone bat-shit insane. I can't tell you how happy I am, that I do not need a new truck. I like the current crop of domestic full-size trucks. I would seriously consider each of them, if I needed a new rig, but the thought of paying for a new truck, makes me a little queasy.

Now, some of you are probably thinking, "But the incentives, man! It's always truck month somewhere!" Yeah, that is true, but it was also true in 2006. My truck may have stickered for $26,720, but I showed up to the dealer flat-ass broke and slightly upside down in my trade, and I still got out the door with taxes, fees, and an extended warranty for under $22k.

So, let's say you get a killer deal on the new truck, and you get out the door for $30k. That would still be an $8k, 36.4 % increase, in only nine model years. For all that money, you'll get a slightly nicer, but no more capable truck. Worth it? I don't think so.

What's behind the huge price increase? I genuinely don't know. Perhaps, much like the new price increase of the !!!error: Indecipherable SUB-paragraph formatting!!! , it's just because they can.

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DISCUSSION (100)


Kinja'd!!! tobythesandwich > shop-teacher
01/13/2015 at 11:54

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If you account for inflation your truck would be $32k today. Big difference. You need to account for Inflation when you try this kind of shit.

And the modern truck is leaps and bounds more capable than your near base model truck with some options.


Kinja'd!!! shop-teacher > tobythesandwich
01/13/2015 at 11:57

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Inflation is a fair point, but "with some options" is not. With some options, the '06 would be a lot more capable as well. Also, the price difference would still be the same.


Kinja'd!!! Matt Hardigree > shop-teacher
01/13/2015 at 11:57

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That is a big increase, but I'd argue that inflation accounts for about 17% of that increase, while new technologies, safety equipment, et cetera moved up the price. You also gained efficiency. Still, automakers see trucks as profit centers and the industry as a whole has been inflating prices up.


Kinja'd!!! Christopheroni > shop-teacher
01/13/2015 at 11:57

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27k in 2000 is equal to 37k today. You're getting a better truck for the same price.


Kinja'd!!! Christopheroni > shop-teacher
01/13/2015 at 11:58

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edit - sorry, I thought you had a 2000. Damn wrinkly window sticker.


Kinja'd!!! shop-teacher > Matt Hardigree
01/13/2015 at 11:58

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Fair points indeed. I just don't think any of that makes up for the huge price increase, but that is just my opinion.


Kinja'd!!! davedave1111 > shop-teacher
01/13/2015 at 11:58

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Adjusting the previous price for inflation gives us a price in today's dollars of $31,300. That's a lot closer to the current price. Close enough to start looking at the differences which might account for it.

If you 'get a killer deal' and buy the truck for $30k, you'd actually be paying less than for the older truck.


Kinja'd!!! CarlitoBenito > shop-teacher
01/13/2015 at 11:58

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I'd say it's due to inflation, increasing safety requirements, fuel economy, NHTSA requirements, and "new" GM.


Kinja'd!!! cazzyodo > tobythesandwich
01/13/2015 at 12:00

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Can't do 2015 yet but here's some backup for you.

Difference of about $6,550 to what he spec'd. Not 40% (about 24%) but still not terribly insignificant.

I'm just bitter cuz I want a truck.


Kinja'd!!! That Guy > tobythesandwich
01/13/2015 at 12:00

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This... I went through this same exercise when getting ready to retire my old Dakota and go full size. Full size trucks seemed stupid expensive until I factored in inflation. You can find a number of inflation calculators out there on the internet if you need one.

Going through the same exercise now with shopping new motorcycles...They "seem" to have gone up substantially as well.


Kinja'd!!! cazzyodo > Matt Hardigree
01/13/2015 at 12:01

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$6550 as an increase based on what he spec'd out. 24% price increase so you're not far off at all!


Kinja'd!!! macanamera > Matt Hardigree
01/13/2015 at 12:01

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^Found the economics major.


Kinja'd!!! xxmixedxtapexx > Matt Hardigree
01/13/2015 at 12:01

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Agreed, inflation puts that $26k at $30K and the $22k you paid at $26k:

http://data.bls.gov/cgi-bin/cpical…


Kinja'd!!! Pending Approval > shop-teacher
01/13/2015 at 12:02

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simple. Old trucks were meant for work, cheap and got the job done, new trucks are meant to show off your manliness while maintaining a cushy middle-manager office job. expensive toys to take you to your job.


Kinja'd!!! Xander, Proud of BOXER > Matt Hardigree
01/13/2015 at 12:02

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Always adjust for inflation.

$26,720 in 2005 dollars (for 2006 MY) is about $32,309 in 2014 dollars.


Kinja'd!!! Stephen > shop-teacher
01/13/2015 at 12:03

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I think it's worth noting that a 41% price increase over a 9 year period is roughly double the rate of inflation. That's ridiculous! As you pointed out, you do get a few small extras such as a rear-view camera and 110V outlet. There are also "hidden" extras such as stability control and extra airbags, but all together they probably don't represent the difference between inflation-adjusted MSRP and the actual MSRP.

Also, you touched on incentives. Truck MSRPs are always jacked up, so it's possible that GM decided to just accelerate MSRPs to even more ridiculous heights.


Kinja'd!!! dreygata > Matt Hardigree
01/13/2015 at 12:03

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I'd also argue that trucks have move from being a purely functional vehicle to one that is seen as a luxury/status item. So they are starting to get the same margins that exist on luxury vehicles.


Kinja'd!!! Kumicho > Matt Hardigree
01/13/2015 at 12:04

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Inflation makes up 1/2 of the difference between $22k and $30k ($4,000):

http://data.bls.gov/cgi-bin/cpical…

The rest is refinements, etc, I'd gather?


Kinja'd!!! tr6rtiger > shop-teacher
01/13/2015 at 12:05

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And for that reason, I plan on driving my '08 Sierra Ext. Cab Z71 until gasoline is outlawed! It has everything I want, I love driving it and I paid 24,000 for a truck that stickered at 37,500.

Perks of working at a dealer, mother-in-law is a GM retiree, and a good student discount.


Kinja'd!!! Cblahblah > shop-teacher
01/13/2015 at 12:07

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I'll be one of the few that keeps my head buried in the sand for the sake of the article but I agree with you. Prices are insane. I want a base model strip down for $18k out the door again.

The ants going in my ears agree with me. I should really try taking my head out of the sand....


Kinja'd!!! greenagain > shop-teacher
01/13/2015 at 12:07

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Wow. The price of a mid sized car hasn't changed to that extent. 13%.

I'd say that's gouging because they can.

In 2004 my Tundra Limited Stepside 2wd was loaded short of 4wd and stickered for $32,000.

I'm sure it's 40+ now


Kinja'd!!! shortyoh > shop-teacher
01/13/2015 at 12:07

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Annualized, you're looking at a 3.95% increase.

Adjusted for inflation, its actually a 1.77% annual increase.

But that also only tells part of the story - because incentives are huge. You tried to account for this, but you have to consider what the cash price would be for each instance. It's too easy to pull financing shenanigans to make you think you're getting a better deal.

And finally, you should keep in mind that this increase comes after a solid decade plus of very little increase in car and truck prices. People often forget how high car prices had gone by the mid-late 90s....


Kinja'd!!! Daren > shop-teacher
01/13/2015 at 12:08

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You really can't give too much credence to the sticker prices on GM trucks these days. GM really stands out among the big three is sharply discounting their trucks. In comparing similarly equipped trucks with Ram and Ford, GM has the highest sticker prices, and the lowest actual sales prices by a good margin. Discounts on GM trucks are massive. Every recent GM-buyer I have ever talked to gushes on and on about what a steal they got on their truck. Turns out, not really.

I paid around $35k for my 2006 Ram TRX4 quad cab. You can get a 2014 Outdoorsmen (the successor of the TRX4 equipped the same) for about $40k, and any repeat Ram owner will tell you the new truck is light years ahead is quality and comfort. I just purchased another 2014 Ram for one of our employees, very similar equip to your sticker above, and the price was $27k out the door.

I think what you are looking at is a GM thing.


Kinja'd!!! theshinobi01 > shop-teacher
01/13/2015 at 12:08

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Yeah my fiance's dad had a Chevrolet 2500HD with the 8.1L V8, 6 speed manual, crew cab, almost all the options, and it was like 32k with destination. Now to get a 1500 with anywhere near that configuration, you are spending nearly 40k. They are tacking on alot of stupid/useless things on trucks, like who wants to pay 2500 for running boards?


Kinja'd!!! wćtherman > Matt Hardigree
01/13/2015 at 12:09

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Actually if you think about the compounding rates, the total price increase is just about 4% per year, and over the last 10 years the average inflation rate has been about 2.5% so it's actually just a 1.5% per year compounded increase over the last 9 years. Not really that much, when you think about it.


Kinja'd!!! sadfasdf > shop-teacher
01/13/2015 at 12:09

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Gas prices are probably helping.


Kinja'd!!! DAAPslapped drives a Civic > Pending Approval
01/13/2015 at 12:10

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It's not even an old truck. People still bought these for the exact same reason then as they do now. You think people weren't buying fully specced 2006 Duramax, long bed, crew cab, Sierras just to show of? That would have set you back the better part of at least $50,000. It's no different now than it was then and you know it. The same happened with the F-150s. Why do you think the Harley Davidson F-150 was a thing?


Kinja'd!!! GreatPower > Kumicho
01/13/2015 at 12:10

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Correct!

Inflation hasn't actually been all that big over the last 10 years.


Kinja'd!!! ClipperGoodwill > shop-teacher
01/13/2015 at 12:10

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Just for kicks, I did the same price comparison using the window sticker that came with my 06' F250 diesel. It's nothing fancy, just an XLT FX4 and the only real 'luxuries' it has is a 6 cd player, power windows/locks, and heated mirrors. MSRP then was $44,500. I spec'd a 15' F250 diesel as close as possible, only the newer truck comes with backup sensors and 18" chrome wheels, and it has a base price of $55,800. That price back in 06' would've scored you the top of the line King Ranch dually.


Kinja'd!!! Chris > shop-teacher
01/13/2015 at 12:11

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Haha. I just found my 98 Dakota sticker last week.

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Kinja'd!!! Truthisnothate > shop-teacher
01/13/2015 at 12:11

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The Govt fees, regulations, and red-tape bullshit are what drives a large percentage of the increase.

Another aspect of course is that people are obviously willing to pay the higher prices as the trucks are selling like proverbial pot brownies.


Kinja'd!!! Mediocre > Matt Hardigree
01/13/2015 at 12:11

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Consider the cost of raw materials, also.


Kinja'd!!! ICantStandNewJalopnik > shop-teacher
01/13/2015 at 12:12

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I looked at the price of a new, Ford F-150 Platinum. It's almost the price of a base, Range Rover sport! Are they insane? That's so expensive! $60 grand!


Kinja'd!!! BahamaTodd > shop-teacher
01/13/2015 at 12:12

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My 2004 Canyon stickered for $28k . Account for inflation since 2003 up to 2014 and that's $36k today. For a freakin 1st gen Colorado - crappy tupperware interior and all. Everyone was complaining about the new midsize truck prices yet look what you get today for what is essentially the same price.


Kinja'd!!! clutchshiftington > shop-teacher
01/13/2015 at 12:13

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On the other side of the coin, some googling shows the Corvette has only gone 19% in price in that same time period, which is crazy when you consider how much more car you get with a base C7 vs. a base C6.


Kinja'd!!! bobrayner > shop-teacher
01/13/2015 at 12:14

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Competition keeps prices down.

The chicken tax is explicitly designed to prevent competition on trucks like this.


Kinja'd!!! SHIVAN000 > Matt Hardigree
01/13/2015 at 12:14

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You beat me to the inflation adjustment. Curses!


Kinja'd!!! Loping Camshaft > Matt Hardigree
01/13/2015 at 12:14

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Yes, this a non-issue. Equivalent car prices have stayed pretty level for the last 30-40 years with inflation factored in, in some cases they have gone down. The cars that have increased have done so with way more equipment, power, reliability, and comfort.


Kinja'd!!! BigBlock440 > shop-teacher
01/13/2015 at 12:15

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For all that money, you'll get a slightly nicer, but no more capable truck. Worth it? I don't think so.

Ratings are, more or less, an arbitrary number. The new truck may handle the load much more capably then the old, or it could not handle it as well. Unless they were rated to the same standard, it's not "they have the same ratings so they are the same". Kind of like comparing an engine rated at 300 hp in 1968 vs an engine rated at 300 hp in 2008. I don't know if GM used the same criteria to rate both trucks, just saying that it doesn't necessarily mean they'll perform equally.


Kinja'd!!! TurboLag23 > shop-teacher
01/13/2015 at 12:15

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Completely agree. Pickup trucks these days are expensive as hell, which makes no sense considering the fact that you buy one to WORK. You're gonna be throwing stuff into the back of it, and accidentally tipping a barrel of gravel so that half of it spills over the sides and pelts your rear fender... Although yours looks EXCEPTIONALLY clean :).

For reference, my mom bought a 2004 Subaru Outback H6 LLBean brand-new in 2004. It had an MSRP of $32,xxx (it was FULLY loaded; every option box was checked). She then bought a 2011 Subaru Outback 3.6R (also fully loaded) in 2011... which had an MSRP of $34,xxx. So over 7 years, MSRP on basically the same car increased by only a couple grand. And these days you could get a fully-loaded Outback 3.6R for under $36,xxx MSRP. This trend continues on through basically all brand-new sedans, especially those with the bigger engines. Only the luxury car brands have seen huge increases in MSRP recently, and even then it's nothing like pickup trucks.


Kinja'd!!! The Transporter > cazzyodo
01/13/2015 at 12:16

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I got 20.9% to get from $31,300 to $37,850, but the point still stands.


Kinja'd!!! shieldsdb > shop-teacher
01/13/2015 at 12:16

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For all that money, you'll get a slightly nicer, but no more capable truck.

Wrong!!!!!!!!!!!!!!

It's a hell of a lot nicer and the capabilities pale in comparison.

Towing capacities increased, HP/TQ increased, ride comfort is better, interior is better, amenities are better...I could go on and on.


Kinja'd!!! ChicagoAndy > shop-teacher
01/13/2015 at 12:17

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You really cant' look at changes in prices without including simple inflation. Here's a simple calculator that shows $26,720 in 2006 dollars is exactly equivalent of $31,299 in 2015 dollars. http://data.bls.gov/cgi-bin/cpical… On that basis, you should use $31,299 as the baseline for your comparison. This makes the increase in price a lot more reasonable, and you can probably make up a lot of that increase with gas savings based on the better mileage.


Kinja'd!!! DonKeybals > Matt Hardigree
01/13/2015 at 12:17

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I see your point, Matt. Inflation is always going to be a factor as to why things cost more in a 10-year span. However, I doubt there's very much technological advancements between a 2006 truck and a 2014 truck, other than some non-essential goodies (LED lighting, MP3/BT capabilities, that worthless rear camera, etc). It's still a ladder frame, body on frame construction, same pushrod OHV V-8, similar suspension geometry, etc. if the technology, for the most part, stays the same, then the price should be lower.

Look at consumer electronics. The desktop PC you can buy now for $500 would have cost you well over $1000 in 2006, probably minus the touchscreen, as touchscreens were super-expensive back then.

So, factoring in the extra goodies that the truck has acquired due to evolution, maybe a $3000 increase would be reasonable. An $11,000 increase is absurd.


Kinja'd!!! Juan > Matt Hardigree
01/13/2015 at 12:18

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Agree with that, inflation accounts for lets say 17%, but that is just on the currency value, you then have to take in account, for how that affected the pricing in the consumables and materials.

Then the payment of the workforce, and overhead for both the manufacturing and then the dealer, those pennies keep stacking up. There are a lot of variables, including where was this truck manufactured, exchange rates, etc. There is, after all, a reason why everyone likes to assemble cars in Mexico, 1USD = 15 MXP exhange rate, and lower wages = profit without skyrocket-ting the prices.

I'm not gonna do the numbers here, but I would argue that 8k difference is not a bad deal at all.


Kinja'd!!! detailer4u > Matt Hardigree
01/13/2015 at 12:18

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I agree. We have had a lot of trucks in my family. Year after year they continue to rise. They have outpaced sedan price increases for years. They make the money and they sell in volume.


Kinja'd!!! Goose > ClipperGoodwill
01/13/2015 at 12:18

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$44,500 in 2006 is a little over $52K today. Considering how much fit and finish have improved as well as how much more capable truck with more features you get today, a $3Kish price difference doesn't seem bad at all.


Kinja'd!!! High Road > shop-teacher
01/13/2015 at 12:18

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Inflation's a bitch

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Kinja'd!!! ranwhenparked > shop-teacher
01/13/2015 at 12:18

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Vehicle prices in general have tended to rise faster than inflation for the past 45 years or so. $26,720 in 2006 is equivalent to about $30,800 today, so that's either $7,000 worth of bundled in crap you don't want or an extra $7,000 markup.


Kinja'd!!! ly2v8-Brian > shop-teacher
01/13/2015 at 12:19

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nice wheels on yours.


Kinja'd!!! need4mospd > tobythesandwich
01/13/2015 at 12:19

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Let's see how it applies to other models then...

2006 Mustang V6, MSRP was $22.4k (adjusted to 2014 $). A 2015 Mustang V6 starts at $23.8k. 6.3% increase.

2006 Camry base MSRP $21.6k(adjusted), now $23k. - 6.5% increase.

2006 F-150 base MSRP $22.2k(adjusted), now $25.7k. - 15.7% increase.

2006 Silverado base MSRP $18.5k(adjusted), now $26.5k. - 43% increase.


Kinja'd!!! thebullfrog > shop-teacher
01/13/2015 at 12:20

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You forgot about the part where they made it ugly. It takes a lot of R&D hours to find exactly the right amount of hideousness.


Kinja'd!!! Tommy861 > cazzyodo
01/13/2015 at 12:21

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I use the CPI Inflation calculator on muscle cars for people all the time, when they think they would have had a nest egg, they realize that storing a car for 40 years would NOT have been worth the under $10k profit they would have made. Heck a "modern collectible" like a GN even though a nice one goes for $20-$30k, is at a loss based on inflation, they were $17k fully loaded new in 1987.


Kinja'd!!! Han-Solo > shop-teacher
01/13/2015 at 12:21

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Full size trucks and SUVs are cash cows for manufacturers. I'd agree that prices are insane. Wife and I checked out the new Tahoe and found it to be exactly like the old Tahoe with a new dash and exterior. Put a few options on it and you are spending just as much as you would on a Mercedes GL, which has much better interior packaging, refinement, quality and resale.


Kinja'd!!! cazzyodo > The Transporter
01/13/2015 at 12:21

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I did (New - Old)/Old and you did (New - Old)/New

I could never figure out which one to go with but it's at least 20% that much we can agree on!


Kinja'd!!! Quadradeuce > shop-teacher
01/13/2015 at 12:22

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This is why when I bought my 2011 Sierra new, I mentally agreed that I would drive this truck until the frame collapsed. Even swapping out the engine with a new crate motor would be a fraction of the cost of a new truck.

Bottom line, if you bought a truck new, treat it well. They aren't getting any cheaper!


Kinja'd!!! Driver > shop-teacher
01/13/2015 at 12:22

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It's the dying dollar.


Kinja'd!!! Daveinva > shop-teacher
01/13/2015 at 12:24

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Once again, the law of supply and demand proves to be the law, and not a polite suggestion.


Kinja'd!!! Voodoo81 > Matt Hardigree
01/13/2015 at 12:25

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Lol inflation at only 17% for the past nine years. I am not laughing at you mind you. I am laughing at my current situation. Last year, from January to December, in Venezuela (country of gorgeous women, great people, and the worst polititians) we had accumulated inflation of around 60% according to "official" sources. I put quotes over the official simply because reality is that inflation was easily over 60% for the year. Worse thing is my salary does not increase in accordance. So I am currently making the equivalent of around 60 dollars a month, and I have a law degree lol. Sorry for the rant Matt, just had to vent a bit.


Kinja'd!!! Manwich - now Keto-Friendly > shop-teacher
01/13/2015 at 12:25

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"What's behind the huge price increase?"

Along with inflation (as others mentioned), I bet CAFE plays a role. If a company can't make their 35mpg average CAFE numbers, then they have to pay fines of $55 per MPG under, per vehicle. So they just pad the MSRP to account for this... and also because they can do that and still sell a ton of them.


Kinja'd!!! GoesLikeHell > shop-teacher
01/13/2015 at 12:26

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I just compared my truck to it's new equivalent and the difference isn't as dramatic as your results. Mine is up about 14% over 10 years.

2005 Ram 2500 SLT ThunderRoad quad cab 4x4. 5.7V8 G56 6spd manual trans. Not too much for options, 6 disc Infinity sound, Snowplow prep, Tow mirrors and hitch. Don't have the sticker in front of me but it msrp 38,200 something back in 2005.

Building a new Ram as close as I can puts it at 43,665. Biggest differences is I can't get a manual trans anymore with the V8, the Thunderroad package is gone (selected the bighorn package instead) and the stereo options have changed and premuim sound required adding the luxury package with heated seats and other goodies my current truck doesn't have.

For a difference of just over 5 grand in 10 years I don't think that's too bad.

The basic 1/2 ton V8 SLT Ram I bought in 1996 for 15,995 new (sticker of 17,995) would sticker for 28,870 today


Kinja'd!!! E. Julius > shop-teacher
01/13/2015 at 12:29

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What matters more than inflation: inflation–adjusted median income over time.

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Sources: United States Census Bureau, St. Louis Federal Reserve


Kinja'd!!! Jerk Dently > shop-teacher
01/13/2015 at 12:29

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If you're using it for business, it's a write-off and a capital expense.

If you're not, it's a luxury vehicle, just not in the 'massage your ass while driving' sense.


Kinja'd!!! j250ex > shop-teacher
01/13/2015 at 12:31

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If you think thats bad try checking out the used truck market. Your 2006 silverado probably would bring close to 3/4 of your original purchase price. Crazy how little truck depreciate. I was/am looking for an older diesel truck and I just gave up because it made me so frustrated. Trucks with 200,000 plus miles with abuse to match the mileage going for 20,000.


Kinja'd!!! Jobu Sierra > bobrayner
01/13/2015 at 12:32

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Um..... no it's not.


Kinja'd!!! Vzwolf > Pending Approval
01/13/2015 at 12:33

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I second this. Pickup prices have gone up because they are largely a want not a need. If you look at the price of a Honda Accord adjusted for inflation it has gone down considerably.


Kinja'd!!! tobythesandwich > Manwich - now Keto-Friendly
01/13/2015 at 12:33

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Most recent number I can find for CAFE is 2012's which puts GM on the nose at 33.6 CAFE.

Which the limit in 2012 was 33.6


Kinja'd!!! tobythesandwich > Pending Approval
01/13/2015 at 12:33

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FYI: Trucks have been moving that way since the mid 90's.

And yes, the Sierra posted above is just as guilty of the same thing you are going on about.


Kinja'd!!! Glantzy > shop-teacher
01/13/2015 at 12:35

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Prices have jumped insanely, as well as the used market for trucks. I sold my 08 sierra for 17k two years ago, (5.3L 4x4 with a suspension lift [nothing insane] with around 60k miles) and I can't even find anything close to that price range now a days. Also everyone south of the Mason Dixon also believes that their truck came from the gods and can charge whatever they feel like.


Kinja'd!!! StuntmanDan > shop-teacher
01/13/2015 at 12:35

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I have also been puzzled by his lately, but I think one big reason is that it's just bigger. That's a lot more metal and a bunch of tech systems that weren't available back then. I looked at stepping up to a Silverado from my 2002 S10 over the summer. I can't even begin to list the things that were better in the Silverado, but the thing that drove me nuts was that it had a 5.3 V8, weighed a couple thousand pounds more than the S10, can tow far more, and was rated for 5 mpg better. From what I've read those numbers actually hold up in the real world. Even if I could manage the same gas mileage in real-world driving as the 17 I get in the S10, I'd be ecstatic.

Sticker price on the one I looked at was about $43k, and they offered it to me for something around $38k. My grandfather bought the S10 new and I'd have to check the window sticker, but I believe it was about $17k. Now I'm looking to the Colorado and waiting for that diesel engine. The Silverado was just too big for what I need and I'd love to try to save a few bucks and get a diesel. Plus, 14 years after purchase, the S10 is still kicking with no major problems to speak of.


Kinja'd!!! mcseanerson > shop-teacher
01/13/2015 at 12:35

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First, congrats on hitting the front page. Now onto business.

I knew the first thing anyone would say on here is outcries about inflation but let's cut the bs on that because we don't car what cars are worth compared to trivial things like colored paper. We care what one car is worth compared to another car. That said lets compare the cheapest options from 2006 compared to the cheapest options currently available. A 2006 Chevy Aveo stickered for $9,350 when new. Now a Nissan Versa, the spiritual successor to the Aveo, stickers for $11,990, approximately a 22% increase. That is a huge difference compared to the jump in prices in trucks.


Kinja'd!!! shop-teacher > davedave1111
01/13/2015 at 12:37

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Not if you adjust what I actually paid ($22k) for inflation. The increase is still quite large, in my opinion.


Kinja'd!!! evodad > shop-teacher
01/13/2015 at 12:38

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My guess is the fact that banks have made it easier to get longer term loans . Similar to skyrocketing tuition costs. ANyone and everyone can borrow, schools know this so they raise their tuition since most people don't pay attention anymore since they're not paying cold hard cash for schooling or vehicles.

You now have the same monthly payment on the 'same' truck but you've got an extra 2 years of payments.

Avg new car loan in early 2014 was 66 months (source google), from 93-2000 it appears to have fluctuated between 51 and 55 months http://www.bea.gov/scb/pdf/NATION…


Kinja'd!!! shop-teacher > Manwich - now Keto-Friendly
01/13/2015 at 12:38

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Interesting theory!


Kinja'd!!! shop-teacher > ranwhenparked
01/13/2015 at 12:39

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I suspect it's a little from column A, and a little from column B.


Kinja'd!!! shop-teacher > ly2v8-Brian
01/13/2015 at 12:39

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Thanks!


Kinja'd!!! spyderman4g63 > shop-teacher
01/13/2015 at 12:39

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Assuming this calc is right that's just slightly more than inflation.Edit: I got the first year wrong but it's pretty close.


Kinja'd!!! AKTruckGuy > shop-teacher
01/13/2015 at 12:41

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Holy shit. Have someone proofread your articles or learn how a comma works.


Kinja'd!!! omgwtfwtg > Matt Hardigree
01/13/2015 at 12:41

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I wish my pay rate increased by that %.


Kinja'd!!! idontknowstuff > shop-teacher
01/13/2015 at 12:41

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The crazy thing is your truck is probably worth $10-11K right now, wholesale value. That means that (inflation and TTL aside) your truck has only lost 50% of its value. I deal older used cars/trucks and it's impossible to convince customers that a 9-10 year old truck with 120k miles is worth $13K retail.


Kinja'd!!! Buckus > ICantStandNewJalopnik
01/13/2015 at 12:42

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Well, it is the Platinum, so they lube you up before going to town on you.


Kinja'd!!! joed782 > shop-teacher
01/13/2015 at 12:43

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Didn't GM go broke about 14 months after this?


Kinja'd!!! Sagaris > shop-teacher
01/13/2015 at 12:45

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Dude I don't know if you have heard from all the other posters who can't be bothered to read the comments before posting, but INFLATION!!! lol.

Even when accounting for inflation it is still a decent increase. Trucks are huge sellers and these companies know it, they are going to be nudging them up as much as they can.


Kinja'd!!! shop-teacher > BigBlock440
01/13/2015 at 12:46

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Fair point. I like to leave a nice pad between what I'm towing, and what my truck is rated for anyways. As I understand, ratings are mostly by lawyers, as much as anybody else. But, they're the only numbers we have to compare.


Kinja'd!!! shop-teacher > Daren
01/13/2015 at 12:47

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Perhaps, but I've heard reports of big incentives from each of the big three.


Kinja'd!!! shop-teacher > Daveinva
01/13/2015 at 12:47

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Truer words were never spoken.


Kinja'd!!! Vzwolf > shop-teacher
01/13/2015 at 12:48

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Pickups are becoming a want not a need. Which explains all of the luxuries. Contrast that to minivans which only recently started having some goodies but nothing approaching pickups.

My father's 1999 Honda Accord LX cost around $20,000 base price in 1999. That's equivalent to $28,349 in today's dollars.

That's Accord EXL money! Heated seats, leather, keyless access and go, bluetooth audio, premium sound system, alloy wheels, LED tail lights, moonroof, lanewatch, rear view camera, etc. All of the aforementioned not in my father's Accord LX.

Today's $23,000 Accord LX is the equivalent of $16,226 back in 1999! What a value.


Kinja'd!!! Dy-no-mite Jay > shop-teacher
01/13/2015 at 12:48

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The reason trucks have increased in price so much:

It used to be that trucks were for the working man. They were no frills affairs with vinyl seats and rubber (or vinyl) floors. Then for some unknown phenomenon, non working (by that I mean not manual labor) people decided they wanted bigger vehicles that were capable of hauling extra air (outside of the car of course because why would you want filthy cheap sharing space in the vehicle where you are sitting) and a refrigerator once every decade. So auto makers saw this and said "hey, let's add more luxuriousness and increase the price by 50%". It's really a very similar principle to luxury cars: let's take a Chevy (say... Equinox for instance), give it some fancy lights, spend an extra hundred dollars on better leather and give it the engine from a traverse (another Chevy), call it a Cadillac and charge an extra 15-20k.

All this being said, I myself would like to get a pickup (primarily for my wife actually) despite the fact that we don't need it. My reasoning is that they tend to last longer and they are cool.


Kinja'd!!! Eric B > shop-teacher
01/13/2015 at 12:51

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I'm glad my 06 DuraMax crew cab 4X4 Silverado has only 58K miles on it, I couldn't afford the $60K replacement for it. I guess I should have bought Apple stock or Google stock instead of my hauler.....oh well!


Kinja'd!!! ERN > Voodoo81
01/13/2015 at 12:52

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Yes - we have had very low inflation in the US for a long time, now.....


Kinja'd!!! Vic-in-Norway > shop-teacher
01/13/2015 at 12:52

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In 1995 my dad bought himself a new F-150 XL, base model everything, no options except 4x4. It was $16,100, the window sticker is still folded up in the glove box to this day, and that is what it says, I think he paid about $750 less really, not sure, but just going by the sticker prices now to compare. That same truck on the Ford site now, XL base model everything and 4x4, comes to $31,400 sticker price. There is a bit of a mark up due to the popualrity of trucks in the last 20 years, but doesn't seem too far out of wack using the calculator.

(I had to compare 1994 to 2014 since there is no 2015.)

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Kinja'd!!! Stupidru > shop-teacher
01/13/2015 at 12:52

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Yet the big 3 can do "truck month" promos multiple times a year, combined with a friends & family discount, can save you close to $15k and someone is still making a profit off of the sale.

Crazy, I tell you. Crazy.


Kinja'd!!! Slay0r > shop-teacher
01/13/2015 at 12:53

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1. They know ppl will buy them

2. They always pack their prices knowing ppl don't pay sticker

3. They have to pack their prices to make up for $5000/0% financing for 60mo deal

4. Inflation

5. Gas Prices go down, truck prices go up.

'Murica


Kinja'd!!! Ike B > tobythesandwich
01/13/2015 at 12:53

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I love how a 2015 truck is "modern" but a 2006 isn't.

My cars vintages average out at 1989.67. They have AC, airbags, aux jacks for the stereo. His truck is plenty modern.


Kinja'd!!! Ike B > That Guy
01/13/2015 at 12:55

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Go to a motorcycle dealer and see how much below the sales price they'll give it to you for though. The motorcycle industry seriously overextended itself in the last few years. You can walk off with one for cheaper than people are selling used.


Kinja'd!!! Mike_in_SD > shop-teacher
01/13/2015 at 12:56

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This article is exactly why I was happy to pay 8000USD this past summer for my 81k mile 2002 GMC Yukon SLT. Things haven't progressed very much from the GMT800 chassis, certainly not enough to pay the ridiculous prices they are asking now. I added a very capable modern radio with full Bluetooth capabilities for peanuts, which pretty much negates the whole technology difference.


Kinja'd!!! Ike B > need4mospd
01/13/2015 at 12:56

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Yeah I wish people would actually math out the logic before posting their poorly-researched, incredulous hair-splitter response to things like this. There's no fucking way inflation has much to do with a truck's price if it jumped more than 40% in less than a decade. This isn't Russia.


Kinja'd!!! Voodoo81 > ERN
01/13/2015 at 12:57

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As an american living abroad this is the type of thing that puts everything into perspective.


Kinja'd!!! C to the J > shop-teacher
01/13/2015 at 12:57

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It'd be interesting to see the average price increases broken down by manufacturer.

I would suspect Chevy and Ford to be way out ahead of the rest. Chevy is really proud of their ugly-ass trucks these days.


Kinja'd!!! ERN > TurboLag23
01/13/2015 at 12:58

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You MUST know that many people wouldn't THINK of "working" their truck more than an occasional trip to the home center store or the nursery.....