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How Toyota’s Tacoma became king of the U.S. midsize truck market
CNBC ^ | 05/18/2024 | Robert Ferris

Posted on 05/20/2024 10:08:02 AM PDT by SeekAndFind

The American pickup truck market is dominated by domestic brands, primarily Ford , Chevrolet , GMC and Ram . U.S. brands benefit from a loyal buyer base, and a 25% tax on imported trucks.

But the Toyota Tacoma shows how a foreign automaker can find and control a niche within that market.

The top-selling full-size pickup line is Ford’s F-Series, especially the F-150, which is also the bestselling vehicle in America, according to Edmunds. GM and Ram pickups trail Ford, which also has the top-selling compact pickup truck — the Maverick.

But U.S. automakers have wavered in their commitment to smaller pickups, while the Japanese automaker Toyota has had a presence in the segment as far back as the 1970s. Toyota introduced the Tacoma in 1995 as a successor to the Toyota Pickup, famously known as the Hilux elsewhere in the world. Meanwhile, Ford Motor discontinued the Ranger after the 2011 model year, and then revived it in 2019. GM pulled the Chevrolet Colorado and GMC Canyon off the market in 2012, before reviving both in 2014.

In 2023, Toyota sold over 237,000 Tacomas in the U.S., far outpacing all of its midsize competitors by a wide margin. The next best seller was the Chevrolet Colorado, which sold just shy of 72,000 units. The GMC Canyon, a slightly higher-end version of the same truck, adds roughly another 22,600 in sales for the U.S. automaker.

Toyota’s careful attention to the needs of Tacoma owners is seen as part of the reason for that loyal market base and the model’s consistent sales. For example, about 40% of Tacoma owners take their trucks off-road at least once a month, so Toyota offers several off-road packages for the truck.

(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy; Society; Travel
KEYWORDS: automotive; midsize; toyota; trucks
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1 posted on 05/20/2024 10:08:02 AM PDT by SeekAndFind
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To: SeekAndFind

Tacoma is the only one that comes with a long bed. It also is only one of two that comes in a two-door version, and one of two that comes with manual transmission.

Toyota’s focus on quality, durability and reliability, or QDR, helped as well. Tacomas have some of the highest residual values on the market.


2 posted on 05/20/2024 10:08:43 AM PDT by SeekAndFind
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To: SeekAndFind

Any truck without a long bed us utterly useless to me.


3 posted on 05/20/2024 10:11:07 AM PDT by Republican in occupied CA (We had enough government in 1789)
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To: SeekAndFind

The 2 best overall vehicles I’ve ever owned have both been Toyotas.....one being an ‘09 Tacoma.


4 posted on 05/20/2024 10:11:09 AM PDT by V_TWIN (America...so great even the people that hate it refuse to leave!)
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To: SeekAndFind
I've got a 2023 Silverado RST with crew cab, the largest vehicle I've ever owned. And the newest Tacomas seem much closer in size than ever before. It is interesting that the Tacoma has become a mid-size truck. I've owned three of them, the first in the late 1980s. They used to feel very small.

What now qualifies as a small truck?

5 posted on 05/20/2024 10:14:15 AM PDT by Reno89519 (If Biden is mentally unfit to stand trial, he is mentally unfit to be president. He needs to resign.)
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To: SeekAndFind

That’s the only truck you ever see those jihadis in turd-world schiffholes driving!


6 posted on 05/20/2024 10:15:44 AM PDT by mozarky2 (Ya never stand so tall as when ya stoop to stomp a statist...)
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To: SeekAndFind

Toyota seems to be the vehicle of choice for those people needing a “technical”.


7 posted on 05/20/2024 10:16:50 AM PDT by immadashell (Save Innocent Lives: Ban Gun Free Zones)
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To: SeekAndFind

I’ve had a ‘98 and a ‘15, both 4wd, and loved them both. I’d buy another in a heartbeat, if I wasn’t frequently towing a 16,000 lb trailer & excavator.


8 posted on 05/20/2024 10:17:46 AM PDT by Fireone (Who killed Obama's chef?)
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To: SeekAndFind

I had a 2022 Nissan Frontier (newest generation), and I now have a 2024. Both are long beds, but they are difficult to find.

Love this truck. The engine has some serious cajones.


9 posted on 05/20/2024 10:20:33 AM PDT by nesnah (Infringe - act so as to limit or undermine [something]; encroach on)
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To: SeekAndFind

The Tacoma 2024 sales are down quite a bit due to switching to a 4 cylinder and new transmissions. Buyers are taking a wait and see approach. The 6 cylinder was better.


10 posted on 05/20/2024 10:21:43 AM PDT by alternatives?
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To: SeekAndFind

I’ve owned one for the last 13 years.

I bought it new.

In came with a 12 year powertrain warrantee at the time.

It currently has about 275k miles on it. Runs great, and in total, I probably spent about 3-4k in repairs since I bought it in 2012 for 25k.

My only regret is I went with the 4 cylinder to save money on gas. The gas savings is negligible to the six cylinder, I and really would love to have the towing capacity of the six cylinder.

Also....yes Im aware that this year the six cylinder is no longer available.


11 posted on 05/20/2024 10:25:51 AM PDT by suasponte137
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To: V_TWIN

“The 2 best overall vehicles I’ve ever owned have both been Toyotas.....one being an ‘09 Tacoma.”

My wife’s last three cars: Highlander, Highlander, Lexus GX460. First Highlander went to her daughter. Her daughter still has the second Highlander. Not one repair ever.

My brother is on his second Tacoma.


12 posted on 05/20/2024 10:26:54 AM PDT by TexasGator
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To: SeekAndFind

Toyota is also committed to gas and doesn’t virtue signal.


13 posted on 05/20/2024 10:27:24 AM PDT by Ge0ffrey
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To: SeekAndFind

I’m on my 2nd Honda Ridgeline. Not a off road truck, but its capabilities are still amazing. It drives like an expensive SUV. The gas mileage isn’t too shabby either.


14 posted on 05/20/2024 10:28:50 AM PDT by Son-Joshua ( )
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To: SeekAndFind

Probably don’t rust out like the other dreck either.


15 posted on 05/20/2024 10:30:25 AM PDT by Bonemaker (invictus maneo)
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To: SeekAndFind
How Toyota’s Tacoma became king of the U.S. midsize truck market

Uh, I'll take "Build Quality and Reliability" for $1,000, Alec.

16 posted on 05/20/2024 10:31:47 AM PDT by Yo-Yo (Is the /Sarc tag really necessary? Pray for President Biden: Psalm 109:8)
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To: SeekAndFind
Look closely and most of the things you liked are Upgraded for 2024. V6 Engine...gone The 6 speed tranny while not the greatest was sturdy and has been replace and is untested. Rear suspension in higher end models are coil springs that ride better but not as sturdy. The 4 cylinder Turdo is your only option. I have a 2023 and would probably buy a Nissian before I would buy a new Tacoma. The Tundra is pretty much in the same basket. Both are selling poorly. This article was most likely a plant to spur sales.
17 posted on 05/20/2024 10:31:52 AM PDT by ImJustAnotherOkie
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To: SeekAndFind

Except for the engine failures that started in 2022.
They changed how the bearings were supported and now they are blowing up engines w 30k miles.


18 posted on 05/20/2024 10:32:52 AM PDT by Zathras
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To: mozarky2

Funny you should say that.

When 9-11 happened, I was at Fort Campbell KY, I was part of the Brigade that was going first to Afhganastan.

Coincidently, there was a Special Forces Group that was/is also on FT Campbell (5th Group), and a few weeks after 9-11, they went and bought ever Toyota Tacoma, on the lots in the local area dealerships and brougt them to Afghanastan.

I remember over the next 9 months or so, watching those trucks take every sort of beating you could think of...and they kept on ticking. Thats when I changed form a Ford Ranger guy,, to a Toyota Tacoma guy.

When you say you see Jihadis running around on those things....if its Afghanistan, they are probably all running around on 2001 models from Clarksville Tennessee or Hopkinsville KY.


19 posted on 05/20/2024 10:35:03 AM PDT by suasponte137
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To: suasponte137

Interesting. Thanks for posting.


20 posted on 05/20/2024 10:36:34 AM PDT by Chgogal (To paraphrase Biden: You vote Democrat? You ain't smart.)
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