Detroit’s Pickup Truck Moat versus Cybertruck’s Arrival
As Tesla launches its Cybertruck, Detroit automakers (with their all-important full-size pickup truck franchises) should not be concerned. Why? Detroit car companies have created a full-size pickup truck moat so wide and deep that Tesla will find this moat challenging to cross.
Tesla abhors manufacturing complexity. Yet, one size truly does not fit all in the full-size pickup segment. Detroit embraces complexity in the full-size truck segment by offering trucks to fit practically every customer need. Detroit automakers produce light, heavy, and super-duty trucks. Each company sells multiple cab configurations such has regular, extended and crew cab models. To satisfy cargo requirements, Detroit sells short, standard, and long bed versions of their trucks. Detroit even produces off-road and high-performance versions of their full-size trucks as well.
Like Tesla, all Detroit automakers soon will offer electric versions of their trucks. However, EV trucks for Detroit automakers will not be independent truck offerings. Their full-size truck EVs will be just another truck choice designed to satisfy specific customer truck needs.
Detroit commands 95% share of the full-size truck segment in the U.S. Interestingly, full-size trucks are a very North American-centric automotive product. Practically all full-size trucks are sold in North America, with the U.S. being the primary market for these pickups. Cybertruck sales will be North American-centric as well. Thus, it will be challenging for Tesla to conquest Detroit full-size truck buyers with its very minimal configuration offering.
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