Toyota is considering selling a compact pickup truck to rival the Hyundai Santa Cruz and the Ford Maverick.
We know this because, well, a Toyota exec said as much in a recent interview.
But we also know because this segment of the market is booming.
And there’s something else that’s giving the Japanese automaker some more fuel for its fire.
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Bloomberg asked Mark Templin, COO at Toyota North America, a very specific question about compact pickup trucks.
The answer was clear and direct.
“We’re looking at it,” Templin said.
The thing is, like every other automaker in the world, Toyota is paying close attention to what its rivals are doing.
In 2024, Ford sold over 130,000 Mavericks, which is one of the smallest Ford trucks you can buy.
The fact that these trucks are cheap certainly helps demand, but it’s also a way to diversify these line-ups and vehicle portfolio beyond ginormous trucks such as the Ford F-350.
Other car brands are having a go as well with vehicles like Hyundai Santa Cruz and the Honda Ridgeline, respectively.
To be clear, these vehicles are nowhere near as successful as the Ford Maverick, but, as they say, you have to have it to sell it, and Toyota doesn’t have anything to compete in this segment.
Toyota would enter the market with a truck that’s smaller than the Tacoma, and maybe even smaller than the RAV4 SUV.
Speaking of which, the Japanese automaker is certainly feeling energized by the fact the RAV4 is doing so well in the market.
It was the best-selling vehicle in the US last year, and the company has just launched a new one.
Toyota probably feels like it’s on a winning streak, and, sometimes, when you’re on a winning streak, you have to keep playing.
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