2024 Toyota Tacoma is Nearly 50 Percent More Expensive Than 5 Years Ago

Published on November 28, 2023 in News by Guillaume Rivard

The next-generation 2024 Toyota Tacoma will arrive in Canadian dealerships in January, but the good news is that you don’t have to wait to read our first driving impressions as our very own Antoine Joubert managed to take a bunch of models for a spin recently.

Also, Toyota today announced pricing details for Tacomas featuring the new turbocharged 2.4-litre four-cylinder engine. It’s safe to say the popular midsize pickup is nowhere near as affordable as it used to be.

First, you should know that the new 2024 Tacoma is available in Canada with a Double Cab and four-wheel drive exclusively, unlike the U.S. where a longer Xtra Cab and 4x2 configuration can be specified, as well.

Photo: Toyota

At the bottom of the ladder is the Tacoma SR5 pictured above, featuring a six-foot cargo bed and starting at $46,950 (or $50,511 when including all applicable fees). That’s $2,880 more expensive than a comparable 2023 model and a $5,600 higher entry point since the base SR model is not returning for 2024. Just five years ago, a 2019 Tacoma retailed from $31,825, so pricing has increased 48 percent during that span. Ouch.

Granted, production costs have exploded across the auto industry since the pandemic, and any new generation inevitably comes with price hikes, but that’s got to be a shock for long-time Tacoma customers. By comparison, the equally new 2024 Ford Ranger carries a base MSRP of $41,255. You can also buy a Chevrolet Colorado or Nissan Frontier for several thousands less, although with more basic content. A GMC Canyon is about the same price as the Tacoma.

Photo: Toyota

Here’s how the 2024 Tacoma range stacks up:


Bed size 


Price With Fees 





TRD Off-Road 




TRD Sport 




TRD Sport + 




TRD Sport Premium 




TRD Off-Road 6MT 




TRD Off-Road Premium 




TRD Sport + 6MT 




As you can see, three models come with a five-foot cargo bed and two of them offer a six-speed manual gearbox instead of the new eight-speed automatic transmission. And by the way, the new turbo-four engine generates as much power (278 hp) and a lot more torque (317 lb-ft) than the old 3.5-litre V6. 

Photo: Toyota

Later in 2024, more specifically in the spring, Tacomas equipped with the new i-Force Max hybrid powertrain (326 hp, 465 lb-ft) will go on sale. There will be TRD Off-Road, Limited, TRD Pro and Trailhunter models, the last one designed as a true overlanding rig. Pricing will be announced closer to launch, but look for these trucks to cost anywhere between $60,000-$75,000 approximately.

Watch: 2024 Toyota Tacoma First Look

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