Truck enthusiasts Ernest Johnson and Mike Herron couldn't be more different.
Johnson, 80, lives in Pontiac, Mich. He retired from General Motors in 1999, where he drove a tractor-trailer delivery truck for 35 years. Meanwhile, Herron, 65, lives in Durant, Okla., owns four businesses and is a real estate investor who has driven BMWs for the past decade.
Yet each paid an amount equal to that of a small house to buy new 2019 GM pickups.
"The price is a little high, but with all the technology on it, I guess it's worth it," Johnson said. "But, in the future, it's something a lot of people won't be able to afford."
Johnson paid nearly $60,000 for his 2019 Chevrolet Silverado Z71, he said. For that price, he will keep it a long time.
The prices people are paying for pickups have steadily risen in the past decade, pushing the trucks further out of reach for average consumers. Some full-size pickups can cost more than $100,000.
Edmunds' data show, through September, the average transaction price for a full-size pickup is $48,377, a 48 percent boost from 10 years ago and a 19 percent hike from 2013. For that price, a person could buy a Mercedes-Benz or BMW luxury sedan.
The median household income of the truck buyer also has been on the rise, said Alexander Edwards, president of Strategic Vision in San Diego.