Full-size pickup trucks have long been dominated by Detroit-based brands on American roads. However, Toyota’s Tundra is making waves in the segment, with its market share surpassing that of Ram in January 2024. Sales and market share have steadily been increasing for the Tundra, with data showing a market share of approximately 15.3 percent compared to Ram’s below 10 percent. The GMC Sierra is also close behind with around 17 percent market share.
The Rise of Toyota Tundra Market Share
In 2022, Toyota unveiled the current generation Tundra, which saw a significant rise in market share for the truck. Previously holding steady in the 10-percent range, the Tundra’s market share spiked in 2024. This increase is reflected in Toyota’s sales numbers, which have seen a 31.3 percent growth since January. In contrast, Ram’s sales have decreased by 20 percent during the same period.
Comparison with Ram Truck Sales
Ram, Ford, and General Motors do not break out full-size truck sales by model, combining sales for the Ram 1500, 2500, and 3500 trucks. Toyota only offers the Tundra in the half-ton group, making a direct comparison challenging. Despite having a higher market share, Ram still leads in overall sales with 179,526 units sold in the first half of the year compared to Tundra’s 78,454 units. However, the sales gap narrows when comparing only half-ton trucks.
Future Outlook with Updated Ram 1500
Ram is set to release an updated version of the Ram 1500 in 2025, which could impact market dynamics. With the removal of the Hemi V-8 engine from the lineup, brand loyalists may have to choose between the new twin-turbocharged inline-six engine and other options. It remains to be seen how this launch will affect the competition between Ram and Toyota in the full-size pickup truck segment.
Historical Milestone for Toyota
Toyota’s increasing market share in the American full-size pickup truck market marks a significant milestone for the Japanese automaker. By capturing a larger portion of the market previously dominated by Detroit-based brands, Toyota is proving its competitiveness and appeal to American consumers. The Tundra’s success in recent years highlights the brand’s commitment to innovation and excellence in the highly competitive truck segment.
In conclusion, Toyota’s Tundra has shown remarkable growth in market share and sales, positioning itself as a strong competitor in the American full-size pickup truck segment. While challenges remain, particularly with the upcoming release of the updated Ram 1500, Toyota’s success signals a shift in the landscape of this traditionally American-dominated market. It will be interesting to see how Toyota continues to build on this success and maintain its momentum in the coming years.