2024 Toyota Tacoma Sees Some Sizable Price Bumps

Matt Posky
by Matt Posky

Despite Toyota having revealed the redesigned mid-sized Tacoma pickup for the 2024 model year last spring, the company has waited until now to announce pricing. That may have been because the brand’s best-selling truck is accompanied by some unhappy price increases. Though the pickup has also been modernized, potentially softening the blow for some who liked the vehicle’s reputation for reliability and simply thought it was a little rough around the edges.


The base Tacoma now costs nearly $3,000 more than it did last year. The 2024 Toyota Tacoma starts at $32,995, with more desirable trims seeing even larger disparities with the 2023 model year.


For example, the SR5 is seeing over $5,000 added to its bottom line.

However, a large portion of that can be attributed to Toyota swapping to a 2.4-liter turbo four-cylinder engine that makes 270 horses and 310 pound-feet of torque paired to the eight-speed automatic transmission (you get a little more if you option the manual). While the 2023 model year’s base 2.7-liter four was famous for its reliability, it was also woefully under-powered at just 159 hp and 180 pound-feet.


While your author has long believed that Toyota’s under-stressed and over-built powertrains are a big reason why it has been so successful over the years, emissions regulations and competition have encouraged it to run with forced-induction. The new motor also gives the Tacoma the ability to offer the similar performance specs as the formerly optional 3.5-liter V6 while likewise serving as the truck’s singular powertrain.

Some models may only offer 228 horsepower while others receive a hybridized 326 hp and 465 pound-feet (by way of the iForceMax). But they’ll all be based around the same 2.4-liter turbo engine. 


Though there doesn’t appear to be a lot of ways to configure the model to cost the same as it used to. Even when compared to V6-equipped Tacomas from last year, the 2024 model year still tends to be a couple grand more on average. There’s just too many ways to equip the truck to do direct comparisons and too many changes made. Some models come with revised suspension systems while extended cab variants might still use holdover hardware. Meanwhile, certain cab configurations have been nixed in favor of bringing back legacy trims like the TRD PreRunner (starting at $39,595).

If you want a comprehensive look at all the changes made, check out our rundown on the 2024 Toyota Tacoma debut. Otherwise, know that optioning all-wheel drive will set you back about $3,200 in most cases. Selecting an automatic transmission will also add $800 unless the trim only comes with an automatic and opting for the longer bed will also set you back a few hundred bucks. Ditto for going with the bigger cabin.

Though if you want to jump straight into a package that offers the big mechanical upgrades and a crew cab, the TRD Off-Road starts at $43,295 — which is about $3,900 more than the previous model year.


The pickup comes with 33-inch BFGoodrich Trail-Terrain T/A tires and the new multi-link suspension with Bilstein external-reservoir dampers. But there are plenty of other off-road goodies you might want to consider and selecting the eight-speed automatic is a little dearer at $1,100.

Higher trimmed models, like the Tacoma Limited, do come with the most standard features. But they also see the highest pricing disparity against their predecessors. This is partially due to Toyota having decided to give them standard all-wheel drive and adaptive dampers.


However, the Limited also receives things like power running boards, heated/cooled seats, a 14-inch infotainment screen, and some exterior chrome for you to polish. Sadly, the Limited is poised to start at $53,595, which is about $11,000 more than it was in 2023.

Woof.


Even if Toyota managed to improve upon the previous-gen Tacoma’s ancient-feeling automatic transmission and ironed out the ride a little, that’s a lot to add to the truck’s bottom line. This is especially true without the V6, as the Toyota forums are absolutely loaded with people concerned about the long-term reliability of the new engine. Toyota nerds (including myself) often select vehicles based around motors and the 2GR-FE 3.5-liter V6 is right up there with the 2JZ-GTE, 4A-GE, and 2ZZ-GE. The hype around those motors is very real and the new Tacoma powertrain hasn't had time to prove itself.

At any rate, the Limited will serve as the most expensive non-hybrid/iForceMax Tacoma available until the Trailhunter and TRD Pro are released early next year.


The Trailhunter (above) is supposed to be the pinnacle of tackling technical terrains at modest speeds while still working as an everyday vehicle and expected to start around $58,000. Meanwhile, the TRD Pro (below) is focused on hitting the dunes at speed and showing off and expected to retail closer to $65,000.

[Images: Toyota]

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Matt Posky
Matt Posky

A staunch consumer advocate tracking industry trends and regulation. Before joining TTAC, Matt spent a decade working for marketing and research firms based in NYC. Clients included several of the world’s largest automakers, global tire brands, and aftermarket part suppliers. Dissatisfied with the corporate world and resentful of having to wear suits everyday, he pivoted to writing about cars. Since then, that man has become an ardent supporter of the right-to-repair movement, been interviewed on the auto industry by national radio broadcasts, driven more rental cars than anyone ever should, participated in amateur rallying events, and received the requisite minimum training as sanctioned by the SCCA. Handy with a wrench, Matt grew up surrounded by Detroit auto workers and managed to get a pizza delivery job before he was legally eligible. He later found himself driving box trucks through Manhattan, guaranteeing future sympathy for actual truckers. He continues to conduct research pertaining to the automotive sector as an independent contractor and has since moved back to his native Michigan, closer to where the cars are born. A contrarian, Matt claims to prefer understeer — stating that front and all-wheel drive vehicles cater best to his driving style.

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  • Analoggrotto Analoggrotto on Nov 29, 2023

    Surprised that pro-Telluride anti-Japan guy hasn't made an appearance yet to drop his ATP stats.

  • Dukeisduke Dukeisduke on Nov 29, 2023

    Sean McElroy put up some Jan-Sep sales numbers (source: Automotive News) for midsize trucks in today's Autoline Daily (he did a long piece on the new Tacoma yesterday), and I was shocked to see that the Tacoma outsold the Ranger nearly six-to-one (179,681 versus 31,503). The Ranger is just ahead of the Hyundai Santa Cruz (29,083).


    The Colorado came in third (58,685), and the Frontier fourth (45,895). The combined Colorado/Canyon total was 78,036 (Canyon sales were 19,351 units).


    It will be interesting to see how things change with the new Tacoma, Colorado/Canyon, and Ranger models.


    Daily Automotive News (autoline.tv)

    • Analoggrotto Analoggrotto on Nov 29, 2023

      Toyota is tired of selling so many and has increased prices to take a break



  • Jkross22 The contrived, forced, overproduced jokes and antics were fun 15 years ago, but it's been the same thing over and over since. The last few years of Top Gear were heading this direction and the 3 were phoning it in. They should have either done something completely different and tried something new. Instead they played it safe.
  • SCE to AUX "...identified during our rigorous validation process"Not so rigorous, if they ended up on dealer lots. 🙄
  • Ras815 Their naming scheme is almost as idiotic as having a totally separate Polestar brand for EVs that look exactly like...de-badged Volvos. But you can tell it came from the same idiocy.
  • Dukeisduke "The EX naming convention is used for the automaker’s new and upcoming EVs, the EX30 and EX90."Only upcoming when they can figure out the software.
  • SCE to AUX I've always said that consumer/business pressures will reign in government decrees, as they have in the past in places like California. That state has moved the goalposts many times for "ZEV" mandates.But the problem is the depth of politicization of the EPA. Mfrs need continuity and long-term commitment to requirements, not living on a 4-year political cycle of who's in the White House and Congress. Your President - whomever that is - isn't going to be around forever.Ironically, backing off the gas means handing a greater lead to Tesla, Rivian, and Lucid, (and possibly H/K/G). The whiners have begun heavy investments whose ROI will be extended by years, and their EV sales will reduce even further.It's like the coach granting his players less practice time because they're tired, while the other team stays fit - that's how you lose the game.
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