US Auto Manufacturers: Data Flash: North America Pickup Truck Trends

Research evidence excerpt

US Auto Manufacturers: Data Flash: North America Pickup Truck Trends

US Auto Manufacturers

19 July 2026 Citi Research

Figure 1. North American Sales - Full-sized Pickup Figure 2. US Pickup Truck Sales vs Residential

Share of Market Construction Spending

© 2026 Citigroup Inc. No redistribution without Citigroup's written permission.

Source: Citi Research, Company Reports and Citi Research Estimates, Ward's Automotive, © 2026 Citigroup Inc. No redistribution without Citigroup's written permission.

Motor Intelligence

Source: Citi Research, Ward's Automotive, BLS

Figure 3 provides unit sales data for the North American market, comparing average annual data over 2015-19, annual data

from 2022 and YTD comps through June. Figure 4 looks at similar data for just the US market. GM has gained over 6 points of

market share compared with the pre-Covid period. Entries from Toyota, Nissan and new BEV manufacturers have had

minimal impact on performance.

Figure 3. North American Full-sized Pickup Truck Sales Figure 4. US Full-sized Pickup Truck Sales

© 2026 Citigroup Inc. No redistribution without Citigroup's written permission. © 2026 Citigroup Inc. No redistribution without Citigroup's written permission.

Source: Citi Research, Company Reports and Citi Research Estimates, Ward's Automotive, Source: Citi Research, Company Reports and Citi Research Estimates, Ward's Automotive,

Motor Intelligence Motor Intelligence

Figure 5 looks at US dealer inventory of full-sized pickups, comparing pre-Covid levels to year-end totals for 2022-25 as well

as the total for the period ending June. Inventory levels at each of the Detroit 3 have improved, contributing to improved

pricing. Figure 6 looks at year-end average pricing data for full-sized pickup trucks from 2015 as well as the data for June.