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Since the Ford Maverick was introduced, many have speculated when other major truck manufacturers might launch their own compact pickups. While Toyota has maintained a low profile on the issue, merely acknowledging their awareness of the market, the company is now hinting at its future plans. Ted Ogawa, CEO of Toyota North America, recently provided some insights, but it appears the company is not actively developing a small truck at this time. However, if it does venture into this territory in the future, it is likely to be an electric model.
In an interview with Automotive News, Ogawa was asked about Toyota’s stance on creating a rival to the Maverick. He responded, “Good question, but we have no plans for that. Still, we are researching in that area, especially in relation to electrification.”
Ogawa noted that full-size truck owners generally show little interest in electric variants. However, he pointed out that there is a greater demand for smaller electric pickups, which is where Toyota is focusing its efforts. He stated, “In the midsize or smaller segment, there are more opportunities for electrification compared to full-size trucks. Thus, we are considering the possibility of a smaller model than the Tacoma in the future.”
This might not be the news that potential customers were hoping for. “We frequently hear from individuals who once owned older Toyota trucks, even before they had specific names, and they express a desire for another small Toyota truck,” said Steve Gates, chairman of the Toyota national dealer council, in September 2023. “The volume potential for such a model is substantial without negatively impacting Tacoma and Tundra sales.”
Although Toyota’s reasoning is valid—recognizing that electric trucks represent the future and wanting to wait before making significant investments—the company appears capable of pursuing both avenues. There is a current demand for a compact Toyota pickup, regardless of its powertrain. Ogawa himself noted that the costs associated with electrification are particularly challenging in a compact, low-priced truck. Given that competitors like Stellantis seem to be gearing up to launch models like the Ram Rampage in response to Ford, and considering the lengthy development time for vehicles, it appears that it may take a while before we see Toyota’s small pickup come to life.
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