UK sales of pickup trucks in their many configurations, from single to club (extended single) to double cabs, continued to out perform the overall new car and commercial vehicle sectors in 2005.
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The growth was announced by Mitsubishi importer The Colt Car Company at the press launch of the redesigned Thai-built L200 range on sale from 1 March.
The pickup truck sector last year accounted for 34,314 sales, the eighth successive year of growth. In 1998, when double and so-called club cab pickups started to enter the market, sales reached just 7,553 units.
The 347% hike was driven by private buyers wanting more versatile SUV-like vehicles, company car users attracted by low taxes, fashion-conscious must-have recreational users, owner-operators, small business customers and, to a lesser extent, commercial and farm users choosing a pickup rather than a more utilitarian 4×4.
Mitsubishi’s L200 has consistently been the market leader and, at its peak in 2003, the range accounted for 45% of all UK pickup sales. Since then, despite the emergence of ‘lifestyle’ and ‘workhorse’ models from rivals such as Ford, Nissan, Toyota and Isuzu, the L200 has remained the top selling range with a 35% market share.
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By GlobalDataLast year 12,026 L200s were sold in the UK, 9,242 of which were what Mitsubishi call ‘high series’ models such as the accessory-loaded Animal and Warrior derivatives. Reflecting the demand by today’s UK customers for up-market pickups, the L200 accounted for 44% of all sales in the private retail sector. In the fleet sector L200s took 23% of sales behind Ford’s market leading 37.4% share.
Colt Car Company managing director Jim Tyrrell said: “During its time the L200 has become the undisputed king of the pickups and we have no intention of relinquishing our crown. Dealers have been taking cash deposits for the new model long before launch. If the initial reaction is anything to go by, we will have another very successful new model on our hands.”
Tyrrell is also confident that the pickup market will continue to grow. “The Chancellor (UK finance minister) has now clarified the benefit in kind taxation to the advantage of the pickup driver. All the uncertainty has been removed.”
Mitsubishi pointed out that although the tax will increase from April 2007 to £3000, from £500, for a driver using a pick-up as a company vehicle, this is still significantly less than the charge for an equivalently priced car. And pickup drivers will pay less fuel tax than counterparts driving an equivalent company car.
Mitsubishi forecast sales of 9,000 new L200s in 2006, rising to 13,000 in 2007, its first full year on the market.
“We are planning conservatively at the moment,” said sales and marketing director Lance Bradley. “However, this new vehicle is so good and so radically different from everything else on the road that it could fuel further growth of the pickup segment just as the old model did between 2001 and 2003. If demand increases beyond the original plan, we are ready to respond.”
Mitsubishi said ownership costs have been improved. Service intervals have risen from 9,000 to 12,500 miles per year and the truck is covered by three-year/100,000 mile mechanical and 12-year anti-corrosion warranties plus three-year pan-European breakdown cover.
Residual values – which remain favourable for the outgoing L200 – are likely to improve further with the new model.
Martin Ward, manufacturer relationship manager of CAP, one of the leading residual value guides, estimates the new L200 double cabs will be valued at £1,000 more than the outgoing models over the usual 36month/60.000 mile lease period.
The Thai-built range will be launched with single and double cab body styles and club cab versions follow next August. Prices start at £12,249 and rise to £19,999, these commercial vehicle on the road prices exclude the UK’s 17.5% ‘VAT’ tax as most buyers are business users who can claim it back.
The 4Work and 4Life models aimed at buyers wanting a practical business tool while the ‘high value’ models such as Warrior, Animal and Elegance, which will account for an estimated 80% of all sales, should appeal to buyers attracted by the ‘lifestyle’ looks and the SUV-comparable driveability and performance.
A new Euro IV emissions-compliant 2.5-litre, 134bhp, DI-D common rail diesel engine delivers 17.5% more bhp, 30% more torque and a 26% improvement in fuel economy over the previous models. A 160bhp power upgrade is available for all models and fitted as standard on Animal versions.
Mitsubishi claims best-in-class turning circle for all versions and improved legroom in double cab models. Towing capacity is 2.7 tonnes and payload “over one tonne”.
