Toyota Motor is depending on the fourth generation of its Tacoma vehicle, which will include a new “Trailhunter” variant, to support the company’s continued dominance of the expanding midsize pickup market in the United States.
For nearly 20 years, the Tacoma has dominated the midsize truck market in terms of sales, despite the entry and exit of rivals like Ford, Jeep, and Chevrolet. According to auto research firm Edmunds, midsize pickup trucks made up 4.4% of all vehicle sales in the United States in 2022.
Toyota redesigns bestselling Tacoma pickup amid increased midsize competition
Fourth Generation of Tacoma Vehicles
According to Joseph Moses, general manager of trucks and SUVs at Toyota North America, the Tacoma is the segment’s best-selling car and we want that to continue. “With this new model, we genuinely think we have that in place.”
Since 2019 when Ford Motor and Jeep returned to the market, Toyota has controlled about 40% of the American midsize pickup truck segment, according to Edmunds. Even while Tacoma sales have increased by almost 150% since then, this is down from a market share of more than 60% a decade ago, as competing manufacturers have introduced new trucks.
General Motors, which sells the Chevy Colorado and GMC Canyon, is in second place behind Toyota. According to Edmunds, the Detroit carmaker had roughly 19% of the market for midsize pickup trucks in the United States last year, followed by Stellantis’ Jeep Gladiator and Nissan Frontier.
Toyota unveiled the 2024 Tacoma early on Friday, and it has new exterior and interior designs as well as improved safety, convenience, and performance systems. Two 2.4-liter, four-cylinder turbocharged engine choices will be available, including the “i-FORCE MAX” hybrid model with 326 horsepower and 465 pound-feet of torque.
After GM and Ford unveiled their newest Colorado and Canyon models for the American market, Toyota unveiled the Tacoma. These trucks all come in more expensive off-road or performance variants.
The new Tacoma “Trailhunter” model is a tough-looking truck aimed at overlanding fans who can sleep in the truck’s bed or on top of it when off-roading. To outfit the vehicle, the Japanese manufacturer worked with the Australian overlanding firm ARB.