Even Used Toyota Tacoma Trucks Dominate the Market
We admire how mid-size trucks aren’t giving up. The Ford Ranger, Chevy Colorado, and Nissan Frontier band together in an attempt to take the Toyota Tacoma down. But it’s so popular that even used Toyota Tacoma trucks rule the market.
Why are used Toyota Tacoma trucks so popular?
Used Toyota Tacoma models are popular because they have a reputation for being durable and reliable. They can take a beating and keep on going. Plus, the Tacoma TRD Pro has true off-roading chops that only the Jeep Gladiator can truly rival.
On the list of the most popular used vehicle sales, the Toyota Tacoma is responsible for 1.3% of used car sales for models that are between one to five years old. It’s the only mid-sized truck on the list.
The most popular used vehicle is the Ford F-150, which is responsible for 3.3% of used vehicle sales. The Chevy Malibu is last on the list with 1.0%.
Used Tacoma models could be popular because new Tacoma models are scooped up in the blink of an eye.
Maybe the Tacoma failed to meet demand while prepping for the 2024 model. As a result, more people had to turn to finding used models.
In 2023, the Tacoma sold 234,768 new trucks while the Colorado had the second-highest amount of sales at 71,081. The GMC Canyon came in last place in the segment with 22,458 sales.
But overall, the Tacoma is seen as a solid investment. It has a reliability rating of 83 out of 100, which is above average. Plus, the average Tacoma model is expected to last between 250,000 to 300,000 miles. Some options have surpassed 500,000 miles.
On top of longevity, the Taocma is practical. It has a low ownership cost and is easy to maintain. Annual maintenance costs about $478, which is lower than the $650 average for other vehicles.
Plus, the Toyota Tacoma has an excellent resale value. It’s expected to depreciate by about 33% after five years of ownership to provide a resale value of roughly $28,011. This is if the truck costs $41,774 when new.
We will see if the Tacoma’s luck continues as the most popular new and used midsize truck in 2024. It’s launching a new generation, so things could change.