- Toyota hinted at a small truck but says the market isn’t ready.
- The EPU Concept previewed a Maverick rival with hybrid power.
- Company says the USMCA deal is crucial for affordable pricing.
Toyota has been circling the idea of a new compact pickup truck for years, even going so far as to build the EPU Concept in 2023 with an electrified powertrain. But if you’ve been holding your wallet open waiting for production news, it might be time to put it back in your pocket. Despite the buildup, Toyota doesn’t seem in any rush to turn this concept into a reality.
Read: Toyota Reportedly Confirms 2027 Compact Pickup To Rival Maverick, Will It Reach The US?
The automaker has openly acknowledged its interest in taking on the Ford Maverick, a model that has carved out a surprising niche in the North American market. Reports suggest Toyota worked on the EPU Concept for three years before showing it to the public, which signals more than passing curiosity.
Timing Remains Uncertain
Still, according to Toyota Motor North America COO Mark Templin, the company won’t release such a compact truck until the conditions feel right.
“We invented the compact truck,” Templin said during a recent appearance at the J.D. Power Auto Summit in Las Vegas, as quoted by Auto News. “It’s a really intriguing segment for us, but the whole segment right now is 160,000 to 170,000.” That’s a small pool by industry standards. He urged both dealers and customers to “be patient,” adding that “when the market’s right, we may have something.”
Affordability Concerns
That’s a rather discouraging statement, likely tied at least in part to concerns about affordability. The auto industry has faced a series of challenges since the debut of the EPU Concept, particularly in light of new US tariffs.
Based on recent comments from President Trump, Toyota is increasingly concerned about the future of the United States-Mexico-Canada Agreement (USMCA).
“We need to encourage the administration in Washington to really take USMCA seriously. Consumers lose if USMCA goes bad,” Templin said. “I think that hopefully we can come to a place where we can keep the supply chain that’s been developed over years and years,” adding that consumers can’t afford the tariffs that could come if this pivotal agreement is scrapped this year.
Last month, President Trump said, “I don’t even think about USMCA,” adding that “I want to see Canada and Mexico do well, but the problem is, we don’t need their product. We don’t need cars made in Canada, we don’t need cars made in Mexico, we want to make them here, and that’s what’s happening.”
During the same interview, Trump claimed there is “no real advantage to [USMCA],” adding “it’s irrelevant to me.”
If the trade deal collapses, Toyota may have a hard time justifying the cost of building a small, affordable truck. Without the existing supply chain, a U.S.-built baby pickup could end up priced out of the segment it’s supposed to serve.
