Forget the Slate, Toyota Aims to Create an Affordable Compact Truck for the U.S. | Carscoops

      The brand specifically aims to vie with Ford and Hyundai in the compact pickup segment.

      Toyota representatives have confirmed they are exploring a smaller pickup option to be positioned beneath the Tacoma for the U.S. market.

      This smaller truck could compete with the Ford Maverick and Hyundai Santa Cruz in terms of cost-effectiveness.

      Factors such as timing and tariffs significantly influence Toyota's decision to manufacture a small truck intended for North America.

      “We’re looking at it.” These four words from Toyota’s Chief Operating Officer in the U.S. reaffirm what many enthusiasts have been hoping for. The company is seriously contemplating a smaller, budget-friendly pickup model that would be positioned under the Tacoma. While no specific details about the progression of these plans were disclosed, there is considerable speculation regarding this matter.

      In an interview with The Japan Times, Templin reiterated that this aligns well with current market trends. As most vehicles, including trucks, continue to see increased prices and size, a more compact and affordable truck could not only yield substantial revenue but also generate excitement.

      Consider the recently introduced Slate EV trucklet, which created a stir by announcing a starting price of approximately $21,000 after the federal tax credit for its basic version. While this initial price tag sounds appealing, it becomes less so when taking into account the impending expiration of the $7,500 federal tax credit, which would raise its cost to about $28,000. All of a sudden, that offer doesn't seem as attractive, particularly if it lacks many of the comfort features that consumers typically expect.

      Moreover, the Slate remains largely uncertain, as it is still in development and lacks a proven track record, unlike Toyota, which has established reliability and a solid history.

      This situation underscores why vehicles like the Ford Maverick can achieve significant success. With average transaction prices for new automobiles around $50,000, the Maverick starts at under $29,000, accommodates five passengers, provides a truck bed for transporting items, and offers impressive fuel efficiency.

      What’s Causing the Delay?

      “We could really do well in that segment, so we’re trying to do it,” stated Cooper Ericksen, a senior vice president of planning and strategy at Toyota Motor North America, in a separate discussion with The Japan Times. “It’s a matter of timing.”

      While Toyota appears fully committed to this concept, it involves more than just market timing. Reports indicate that the company is already advanced in developing a small truck for the Brazilian market. This raised questions about the possibility of that model being introduced in the U.S. However, the ongoing tariff conflicts complicate this situation.

      Additionally, Toyota must tread carefully to avoid the issues faced by Hyundai with the Santa Cruz. At its launch, the Santa Cruz showed promise, but shortly after, Ford released the Maverick, which offered more truck-like features and better specifications at a lower cost. As a result, the Santa Cruz recorded only 32,033 unit sales last year, in stark contrast to the 131,142 Mavericks sold by Ford in the same period. The numbers reflect the reality of the market.