Toyota Motor Unveils New Tacoma Model, Plans To Rule Mid-Size Pickup Truck Market

Author: Lekha Gupta | May 19, 2023 07:42am

Toyota Motor Corp (NYSE:TM) announced a fourth-generation model of its bestselling Tacoma truck, which will be available in early 2024.
The company aims to maintain its leadership position in the mid-size pickup truck market, with Tacoma ruling it for over two decades.
The new Tacoma has new interior and exterior designs, with two turbocharged engine options and includes an “i-FORCE MAX” hybrid model.
Toyota will also introduce an all-new Trailhunter grade for overlanding enthusiasts, which will be available for sale later this year.
Since 2019, Toyota has held around 40% of the American mid-size pickup truck segment, per CNBC.
“With even more off-road capability and the quality, durability, and reliability that our customers expect along with a host of options for every owner, we’re confident that Tacoma will remain the top choice for mid-size pickup buyers when it arrives later this year,” said Dave Christ, vice president and general manager.
Yesterday, Toyota launched a prototype mini-commercial electric van in partnership with Suzuki Motor Corporation (OTC:SZKMF) and Daihatsu Motor Co., Ltd.
Price Action: TM shares are trading lower by 0.34% at $142.02 premarket on the last check Friday.
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