What electric truck owners do when returning to the market

The electric truck market is evolving fast.  Unlike traditional truck households or those who own EV cars and crossovers, the Return-to-Market (RTM) behavior of an electric (EV) truck household does not fall neatly into either EV or truck household patterns. With shifting product plans, changing loyalties, and stronger competition from both legacy brands and disruptors, the question arises: where do electric truck households go when they return to the market?

The electric truck market: Legacy brands vs. disruptors

The electric truck market is not monolithic. S&P Global Mobility Loyalty Analytics data shows a clear division between established legacy brands (like Ford and GM) and disruptor brands like Tesla and Rivian. 

Each group performs differently in terms of loyalty and consumer retention, reflecting how buyers approach their next vehicle when they return to the market. In this study, we’ll look at what electric truck households from these four manufacturers do when they return to market.

Legacy brands struggle to retain electric truck owners

Electric truck households from legacy brands show significantly lower loyalty across several metrics compared to their gas truck counterparts. Make, model, and segment loyalty for electric truck households are noticeably lower than their gas engine counterparts.

Disruptors: Tesla and Rivian redefining the rules on electric truck loyalty

In contrast, disruptor models like the Rivian R1T and Tesla Cybertruck maintain higher fuel type loyalty rates. EV loyalty is considerably stronger—63% for Rivian and 69% for Tesla. Rivian's make loyalty rate is 40%, compared to Tesla's 60%. The gap likely results from the fact that Rivian's lower priced offering, the R2, has not yet been released. As of this writing, Rivian’s website shows the R2 will be available in Spring 2026. Interestingly, segment loyalty is lower for these disruptors (just 17%), indicating that buyers are motivated more by the brand than the body style of the vehicle itself. The lower loyalty is due to Rivian’s portfolio being narrower with just two products, compared to Tesla’s 5, which limits its offerings.

Overall, Tesla and Rivian households are acquiring these vehicles as much for the brand as for their EV or truck attributes. This brand-driven behavior sets them apart from legacy automakers and underscores the shifting dynamics in the electric truck market.

Migration Brand Walls: Where electric truck owners go next

Aside from vehicles from the same manufacturer, EV truck owners’ top acquired vehicle is the Tesla Model Y. There is little evidence of Silverado EV owners switching to a Rivian R1T or Cybertruck, and vice versa. After the Model Y, defectors disperse across the broader market, reinforcing the notion that loyalty is fragmented and unpredictable.

Traditional truck battle lines still hold firm. Ford F-150 Lightning households do not cross over to Silverado/Sierra EVs, and vice versa. Migrations between Ford and GM EV trucks account for less than 1% of total RTM volume, highlighting the enduring strength of brand loyalty in the truck segment—even as EVs disrupt the market.

Where next in the EV truck market? A major opportunity to win defecting owners

As we analyze these trends, it becomes clear that legacy brands face challenges in retaining EV truck owners, while disruptors are better positioned to capitalize on brand-driven loyalty. The Model Y’s popularity among defectors suggests that EV trucks still lean toward electric options, but after that, the choices become wide open.

Based on S&P Global Mobility Return-to-Market forecast data, more than 35,000 EV truck households are expected to return-to-market over the next 18-months. These households may be shopping for another truck, another EV, or another EV truck. With 6 in 10 EV truck households defecting to another brand, this is a signal to brands to fire up their retention efforts to retain these households into another new vehicle. At the same time, this is also a ripe opportunity for competitors to conquest a customer that will find a she or he has fewer EV truck options to pick from the dealer showrooms.

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This article was published by S&P Global Mobility and not by S&P Global Ratings, which is a separately managed division of S&P Global.

Content Type

 

Article

Theme

Automotive Consumer Trends

Series

US Auto Monitor