The Toyota Tacoma has long been the unshakable king of the midsize pickup segment, adored for its rugged reliability and stellar resale value. But the 2024 model has revealed cracks in the armor, leaving many enthusiasts and prospective buyers frustrated. What was once a no-brainer purchase now comes with a hefty dose of skepticism, thanks to declining sales, growing competition, and glaring reliability concerns. If you’re considering a Tacoma, buckle up—this is not the rosy picture Toyota fans are used to.
Sales Drop: A Shocking Decline for an Industry Icon
Let’s start with the hard truth: Tacoma sales are tanking. In 2024, sales have plummeted by 25%, with only 146,000 units sold so far—the lowest figure since 2015. Compare that to the Tacoma’s heyday, when annual sales regularly hit 200,000-250,000 units. Toyota optimistically predicts closing the year at 185,000 units, but even that would signal a significant downturn. And here’s the kicker: this decline comes despite the Tacoma still being the best-selling truck in its class. What does that say about the competition—or worse, about the Tacoma itself?
While the Tacoma leads with 146,000 units sold, its nearest rival, the Chevrolet Colorado, trails far behind at 70,000 units. Yet, dominance doesn’t equate to untouchable anymore. The sales drop isn’t just a hiccup; it’s a glaring sign that buyers are rethinking their loyalty.
Reliability Issues: A Dealbreaker?
Toyota’s rock-solid reputation for reliability is taking hits from every angle. The Tacoma has been plagued by a major transmission defect, affecting nearly 500,000 vehicles—a staggering number that’s hard to ignore. And it’s not just the Tacoma. Remember the massive recall of over 100,000 Tundra engines? These problems are slowly chipping away at Toyota’s once-untouchable brand perception.
Potential buyers are left asking: Is the Tacoma still the gold standard, or is it a ticking time bomb? When you’re dropping $40,000+ on a truck, reliability shouldn’t be a question mark.
Inventory Overload: What Does It Mean for Buyers?
If the Tacoma’s reliability woes weren’t enough, the inventory tells another story. With 25,000 units sitting on lots, dealers are eager to move these trucks, giving buyers the upper hand. Competitors like the Chevy Colorado and Nissan Frontier lag with lower inventory levels (15,000 and 13,000 units, respectively), but that’s cold comfort for Toyota, which is watching its once-scarce Tacoma flood dealer lots.
Here’s the silver lining: More inventory means room for negotiation. If you’re still sold on the Tacoma, you might snag a decent deal. But is it worth the risk when competitors like the Colorado and even Ford’s Ranger offer compelling alternatives?
Buying Advice: Tread Carefully
For those still eyeing the 2024 Tacoma, here’s what you need to know:
- Pricing Discounts: Toyota’s pricing strategy reflects its desperation. A smart buyer can aim for an 8% discount off MSRP. For example, a TRD Off Road Double Cab 4×4 with an MSRP of $44,774 should be negotiable down to $41,192.
- Financing Options: Toyota is offering a relatively competitive 4.99% APR for 60 months. Leasing? Think again. While the Tacoma boasts a strong 75% residual value after 36 months, the estimated $402/month payment (before tax) feels steep for a truck with these issues.
- Reliability Red Flags: Be brutally honest with yourself: can you overlook the reliability concerns? If not, it might be time to explore competitors.
The Bottom Line: The Tacoma Isn’t the King It Once Was
The 2024 Toyota Tacoma may still dominate sales charts, but beneath the surface lies a truck battling a credibility crisis. With plummeting sales, major reliability concerns, and growing competition, buyers are understandably cautious. Sure, it still holds strong resale value and Toyota’s promise of addressing issues, but is that enough to justify the premium price and potential headaches?
If you’re in the market for a midsize pickup, do your homework. Compare pricing, weigh the reliability risks, and don’t be afraid to explore alternatives. And when you’re ready to buy, make sure you’re getting the best possible deal.
Your Next Step: Find Your Tacoma—or Its Rival—at a Steal
If you’re still interested in a Tacoma—or want to explore alternatives like the Chevy Colorado or Ford Ranger—head over to Quotes.EverymanDriver.com. With real-time dealer pricing for new and used cars, you’ll know exactly what’s available in your area. Why overpay when you could save hundreds, if not thousands, on your next ride? Thousands of buyers use it every day to find the best deals—now it’s your turn. Don’t let regret steer your purchase.
