Toyota has been considering the possibility of launching a new compact pickup for several years, even creating the EPU concept in 2023 with an electrified hybrid powertrain. However, if you were waiting for news about the start of series production, you might want to temper your expectations. Despite all the preparatory work, Toyota does not seem to be in a hurry to bring this concept to reality.
Interest in the Segment and Competition with the Ford Maverick
The manufacturer has openly acknowledged its interest in competing with the Ford Maverick—a model that has found its niche in the North American market. It is reported that Toyota worked on the EPU concept for three years before showing it to the public, indicating serious intentions rather than just a fleeting interest.
Uncertainty Regarding Launch Timing
According to Toyota Motor North America’s Chief Operating Officer Mark Templin, the company will not release such a compact pickup until market conditions are favorable.
We invented the compact pickup. This segment is very interesting to us, but the entire market is currently only 160,000–170,000 units.
This is a small volume by automotive industry standards. He urged dealers and customers to be patient, adding that “when the market is ready, we might have something.”
Affordability Concerns and the Impact of Politics
Such a statement may be disappointing, and it is likely related to concerns about an affordable price. The automotive industry has faced a number of challenges since the EPU concept was presented, especially in light of new US tariffs. Judging by recent comments, Toyota is increasingly concerned about the future of the USMCA agreement (United States-Mexico-Canada Agreement).
We need to encourage the administration in Washington to take USMCA seriously. Consumers lose if something goes wrong with USMCA. I hope we can find a solution to preserve the supply chain that has developed over many years.
Templin added that consumers would not be able to afford the tariffs that could emerge if this key agreement is terminated this year.
A month ago, it was stated that USMCA “has no real benefits” and that “it doesn’t mean anything to me.” If the trade deal collapses, Toyota may have trouble justifying the costs of producing a small, affordable pickup. Without the existing supply chain, a US-made pickup could end up being too expensive for the market segment it is intended to serve.
The situation with compact pickups remains dynamic. The success of the Ford Maverick has shown that demand exists, but global economic factors and trade policy create significant barriers for new players. For Toyota, this is a matter not only of technology and design but also of complex logistics and international relations. The decision to launch the model will likely be made only when there is a clear guarantee that the product can compete on price while maintaining profitability for the manufacturer.