Trucks absolutely dominate the aftermarket segment when it comes to sales. A recent report from the Specialty Equipment Market Association (SEMA) found that nearly a third of the money spent on post-purchase modifications went to pickup truck parts and accessories – around $15 billion of the $52 billion total industry-wide – and that 22 percent of new truck owners plan to modify their vehicles within 90 days of purchase.
That massive number shakes out to around $1,900 per truck, and while that may not seem like much, bear in mind that it also represents the 78 percent of owners who spend very little or nothing at all. That means that in addition to the ever-rising cost of vehicles in the US, some owners are spending $6,000 or more on their Jeep Gladiator and Ford F-250 Super Duty trucks in their first three months. And unfortunately, the latest data suggests that investment isn’t likely to pay off.
A Huge Market With Minimal Returns
Let’s take a few examples. One of the most commonly modified trucks as of the 2022 SEMA report – the most recent one with publicly available data – was the Ford F-Series, and anyone who’s spent time in Orange County, California, or Tampa, Florida, will suspect that the Super Duty lineup is perhaps a bit over-indexed in terms of mods. According to our marketplace sources, a stock 2021 Ford F-250 with four-wheel drive and fewer than 60,000 miles has an average asking price that ranges between $45,000 for a base-model XL with a gasoline V8 to around $75,000 for a higher-spec Lariat or Platinum trim with the Power Stroke turbodiesel V8.
However, while adding a lift kit or significant cosmetic modifications may increase the asking price of your truck, it likely won’t be enough to compensate for the added parts cost. One 2021 Ford F-250 Lariat with a diesel engine for sale in Texas had an asking price of $70,995 at the time of its sale last July, near the top of the range that we’ve established for a stock truck. However, it runs an aftermarket air suspension from Kelderman, and according to that company’s website, the cheapest lift kit for the Super Duty costs $8,005, while more expensive kits are just over $10,000.
And owners who lift their trucks generally don’t stop there. For starters, they need some new wheels and tires to fill out that newfound atmosphere under the fenders. Even the cheapest 24-inch rims cost at least $250 each, while a cheap, off-brand set of 35-inch tires to fit would run an additional $350 per, bringing the rolling stock total to $2,400. If you want rubber from a proven legacy brand and wheels with an established reputation for quality, that number could easily be $5,000 or more.
Supporting upgrades such as a steering stabilizer and higher-performance shock absorbers, which aren’t included in the aforementioned Kelderman lift kits, would demand an additional $3,000, while the cheapest controller the company offers is $2,675. Suddenly, the seller who’s asking $71,000 for their bro-dozer is only getting $55,000 back on their investment, far less than a non-modified pickup in similar condition.
Although this math is specific to the F-250, it generally applies across most market segments. Unless the truck is professionally built to a show-quality standard or notable in some way for its provenance in the modified community, getting your money back from modifications is very, very difficult. In fact, some modded trucks are worth less than their stock counterparts.
Source: Specialty Equipment Market Association
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This article originally appeared on CarBuzz and is republished here with permission.
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