Toyota overhauls Tacoma pickup truck

Yahoo Finance automotive reporter Pras Subramanian discusses Toyota unveiling its new 2024 Tacoma, details on the vehicle, and the EV transformation in the auto industry.

Video transcript

AKIKO FUJITA: Well, Toyota is taking the wraps off its revamped Tacoma as the midsize pickup space grows even more competitive. Yahoo Finance's Senior Autos Reporter Pras Subramanian back with us with the details. Pras, what's new about this Tacoma?

PRAS SUBRAMANIAN: Pretty much everything. The new Taco getting a makeover, as it's known amongst fans of the truck. Basically, you know, this truck has been around for 20 years. I can't believe it. It's only had one little minor refresh. So it really needs to be done as the competition really heats up the space. So new bodywork, of course, new chassis, different powertrains there. Long gone is this old V6 that's been around there for a while. New turbocharged 4s, including a mild hybrid that gives it enough power to sort of challenge the Rangers and also the Chevy Colorados and GMC Canyons of the landscape there.

So a big move there for the Tacoma. It is the number one selling midsize pickup in America by a long shot. So I see Toyota wanting to do that now. They need to do it now. It needs to get kind of up to speed as these new competition kind of comes to the field right now. And of course, it all happens in the backdrop of the EV transformation. We just spoke about that, about the Chevy Silverado EV work truck. We have the Ford, we have the-- we have the Chevy Silverado, we have the Rivian all coming on board. So this is all happening on the backdrop of a very competitive midsize gas-powered space that will eventually become EV pickups as well.

AKIKO FUJITA: Yeah, a lot of changes there. But to your point, an increasingly crowded space. Pras, thanks so much for that.