• Toyota says it’s considering producing a compact pickup truck for North America.
Consumers are keen on compact pickup trucks, as evidenced by the success of the Ford Maverick, which just had its best year since its debut. The 131,142 units sold in 2024 represent a 40-percent jump compared to the previous year.
It's worth noting that mid-size pickups have grown so much in recent years that they can no longer be called small vehicles. And their prices have increased considerably.
That leaves room for smaller, more accessible pickups. Ford's success in the category was inevitably going to draw the attention of other automakers, like Toyota.
Regarding development of a North American small pickup, Mark Templin, Toyota's COO in the United States, confirmed to Bloomberg this week that the company is “looking at it”.
Cooper Ericksen, Senior VP of Planning and Strategy for Toyota North America, told Bloomberg that “We could really succeed in that segment, which is why we're considering doing it," adding that getting the timing right will be important.
Toyota would be targeting individual buyers, but also fleet owners who would welcome access to a cheaper vehicle carrying a built-in reputation for reliability.
And it's not as if Toyota lacks experience in the segment elsewhere in the world. In 2023, the company launched the Hilux Champ, sold in certain foreign markets. That model wouldn't be suited to North American needs, but it shows that when a company wants to attract customers, anything is possible.