Toyota unveiled its 2024 Tacoma pickup model on Friday.

 

Toyota unveiled its 2024 Tacoma pickup model on Friday.   The new Tacoma "Trailhunter" is intended to maintain Toyota's dominance in the increasingly competitive U.S. market for midsize pickups. Midsize pickup trucks comprised 4.4% of total U.S. vehicle sales in 2022. Toyota's Tacoma model has dominated the midsize pickup market for almost 20 years.  Jeep and Ford re-entered the market in 2019. Toyota held on to about 40% of the market since its competitors' re-entry, down from its 60% market share 10 years ago. Automakers have been widening their off-road vehicle offerings in a bid to boost profits without making heavy investments in a completely new vehicle.