Toyota is relying on the fourth generation of its Tacoma truck, including a new “Trailhunter” model, to maintain its leadership in the growing U.S. midsize pickup market.

The Tacoma has led the midsize pickup segment in sales for nearly 20 years, with competitors such as Ford and Jeep coming and going from the market.

Toyota currently commands roughly 40% of the American midsize pickup truck segment, down from over 60% a decade ago.

The 2024 Tacoma features upgraded safety, convenience, and performance technologies, including two turbocharged engine options and a manual transmission.

Toyota partnered with Australian-based overlanding company ARB for the rugged-looking “Trailhunter” model.

Automakers have been expanding their off-road vehicle offerings to boost profits on trucks and SUVs with less investment than new vehicles.

Toyota is relying on the fourth generation of its Tacoma truck, including a new “Trailhunter” model, to maintain its leadership in the growing U.S. midsize pickup market. The Tacoma has been the top-selling midsize pickup for almost 20 years, with competitors such as Ford and Jeep entering and leaving the market. Toyota currently holds around 40% of the American midsize pickup truck segment, down from over 60% a decade ago.

The 2024 Tacoma, unveiled on Friday, features new exterior and interior designs, upgraded safety and convenience technologies, and two turbocharged engine options. The “Trailhunter” model offers a rugged appearance and is aimed at overlanding enthusiasts who combine off-roading and camping. Toyota partnered with Australian-based overlanding company ARB to equip the vehicle.

Automakers have been expanding their off-road vehicle offerings as a way to boost profits on their trucks and SUVs with less investment than developing new vehicles. In addition to the “Trailhunter,” Toyota also offers “TRD” models with off-road capabilities or aesthetics.

Unlike some competitors who only offer four-door midsize pickups with one bed option, Toyota will continue producing a two-door Tacoma and offering two bed lengths. The automaker is also offering the truck with a manual transmission, which is rare in today’s automotive industry.

The 2024 Tacoma will be available in several models, including TRD Pro, Trailhunter, and Limited. Toyota's goal is to offer "a Tacoma for everyone," according to Joseph Moses, Toyota North America general manager of trucks and SUVs. Pricing for the new Tacoma will be announced closer to its arrival at U.S. dealerships later this year.