Toyota has harbored the idea of a new compact pickup for years, even developing the EPU concept in 2023 with an electric powertrain. Despite thorough preparation, Toyota appears to be in no rush to bring this idea to fruition, according to Auto News.

The Japanese automaker has openly acknowledged its interest in competing with the Ford Maverick, a product that has established a foothold in the North American market. Reports indicate that Toyota researched the EPU concept for three years before its public introduction, suggesting it was more than a fleeting initiative.

The EPU electric pickup concept launched in 2023. *Photo: Toyota*

However, according to Mark Templin, CEO of Toyota North America, the company will not launch such a small pickup until market conditions are suitable.

The small pickup segment is appealing to Toyota, Templin stated at a recent event in the US, but the entire segment currently only accounts for 160,000-170,000 vehicles – a small number by industry standards. He urged both dealerships and customers to be patient, adding, "when the market is right, we will likely have a product."

The waiting period mentioned by the Toyota representative appears to stem from concerns about the future of the United States-Mexico-Canada Agreement (USMCA).

Last month, US President Donald Trump said he "doesn't even think about USMCA" and claimed that "USMCA has not been a great deal for us."

Should the trade agreement collapse, Toyota might struggle to justify the cost of producing an affordable small pickup. Without an existing supply chain, a small pickup manufactured in the US could be priced too high for its target market segment.

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