Evidence is mounting that “peak truck” is a U.S. economic trend to watch in 2025 as American consumers struggle with vehicle affordability, according to the Dave Cantin Group Market Outlook Report.

Dave Cantin Group (DCG), a leading mergers and acquisitions advisory company to retail automotive groups and their owners, identified “peak truck” as not reflecting a lack of interest in trucks and SUVs among American consumers, but moreover consumers’ growing struggle to afford a new vehicle. The average purchase price for cars now hovers around $37,400, for SUVs and CUVs it’s more than $43,600 and for pickups it’s $54,600.

“This isn’t just an automotive story, it’s an American consumer story,” DCG President and CEO Dave Cantin said. “It’s not a declining interest in trucks. We’re not saying that segment is going away. But the consumer survey we conducted as part of our Market Outlook Report finds that the American consumer is feeling the cost pressure of rising prices.

“In response, we see a decline in the number of people who believe their next purchase will be a truck or SUV and an equivalent increase in the number who intend to purchase a car. Add to that the report that inflation hit a 7-month high in January, and we’re seeing even more evidence that peak truck is a real trend to watch.”

The report highlights a pronounced shift among older consumers, with the 35–54 and 75+ age groups increasingly favoring sedans. Additionally, tighter budgets — especially among buyers earning between $75,000 and $100,000 — are prompting a move from SUVs to more affordable car options.

The “peak truck” phenomenon is just one manifestation of broader affordability issues, according to Cantin. With prolonged high interest rates pushing consumers to closely scrutinize their monthly expenses, the record average age of vehicles on the road (12.6 years overall and 14 years for passenger cars, according to S&P Global Mobility) further illustrates the reluctance to invest in new, higher-priced vehicles.

Compounding these trends, U.S. inflation unexpectedly rose to 3% in January, a 7-month high. This inflationary spike confirms that consumers continue to face cost pressures, reinforcing their focus on affordability and likely accelerating the shift away from higher-priced trucks and SUVs toward sedans and lighter-trim models that offer lower monthly payments.