A Small Segment With One Big Player
The compact truck segment in the US is shrinking. With the Hyundai Santa Cruz on its way out, the Ford Maverick is now the only player left. Fordsold about 155,000 Mavericks in 2025, proof that there’s real demand for a smaller, more affordable unibody truck that actually works for daily life.
But just because people want these trucks doesn’t mean it makes sense to build another one. Toyota has been watching this space closely. The numbers show there’s interest, but they also reveal how small the segment really is. For Toyota, it’s not about whether buyers want a compact truck—it’s about whether enough of them do to justify a new model without hurting the rest of their lineup.
Speaking to Automotive News, Mark Templin, COO of Toyota Motor North America, made it clear that the company is interested, but not convinced that the timing is right.
Why Toyota Is Taking Its Time
Templin noted that the whole compact truck segment adds up to just 160,000 to 170,000 units a year – almost all of them Mavericks. That shows how focused the market is right now. For Toyota to jump in, it would need to pull buyers away from Ford and also convince some crossover and sedan owners to switch teams.
There’s also the risk of stepping on their own toes. The Tacoma dominates the midsize truck market, moving nearly 275,000 units last year. Launching a smaller, lower-margin truck could eat into Tacoma sales, and that’s not a problem Toyota is eager to create for itself.
Templin’s message: “Be patient.” Toyota claims it came up with the idea of a compact pickup decades ago, and it’s still interested. But until the business case looks better, it’s not in a hurry to spend big.
Trade policy is another wildcard. The United States-Mexico-Canada Agreement (USMCA) is up for renegotiation, and any changes could affect tariffs and production costs – especially for vehicles and parts that cross borders multiple times. If the deal gets watered down, Templin says buyers will end up footing the bill.
Joel Stocksdale
Not If, but When
Even with all the caution, Toyota already confirmed last year that the said compact truck is coming. It’s just a question of when, not if. The idea is alive and well inside Toyota, but we can’t fault the company for being cautious for now.
Concepts like the EPU (depicted here) show what Toyota’s compact truck could look like, but for now, the Japanese marque is waiting for the right mix of market conditions, margins, and policy. If you’re hoping for a Toyota answer to the Maverick, it’s coming, just not as soon as the buzz might have you believe.
Meanwhile, Ram is also contemplating joining the compact truck segment with the Rampage. But, like Toyota, the American brand is cautious about how the market will accept the product. That’s quite understandable given the fate of the Santa Cruz.
Joel Stocksdale
