Full-size, half-ton pickups represent one of the most crucial auto segments in the U.S., with fierce competition among makes. Although it’s the fourth-largest segment in the industry, the full-size half-ton segment is still hugely important thanks to high profitability and strong brand loyalty. Indeed, the segment is particularly important for domestic manufacturers like GM. Now, however, it appears as though the Toyota Tundra is gaining significant market share on its domestic rivals.
As outlined in a recent report from S&P Global Mobility, the Toyota Tundra has typically lagged behind the competition, showing a decline in market share between 2014 and 2021, during which time the Tundra fell from 9.3 percent in 2014 to 6.5 percent in 2021.
That all changed with the introduction of the redesigned Tundra late in 2021 for the 2022 model year. Compared to the preceding model, the redesigned 2022 Toyota Tundra featured a new twin-turbo V6 engine, a high-strength, full-boxed frame, advanced interior technology, and a new luxury-oriented Capstone model offering upgraded materials, a more luxurious cabin, and other goodies to rival the GMC Sierra 1500 Denali.
Following the introduction of the 2022 model year, the Tundra’s market share grew from 3.7 percent in December of 2021 to 8.4 percent in April of 2022, reaching a record high of 15.3 percent in April of 2024. The Tundra now ranks fourth overall in the segment, trailing behind the Chevy Silverado 1500, Ford F-150, and GMC Sierra 1500, but ahead of the Ram 1500.
The report also highlights the Tundra’s conquest rates, which have improved considerably in the last few years. The Tundra had a net outflow with its three main rivals in 10 of the 12 months during 2021. However, that ratio turned around in 2022, reversing to a net inflow every month since February of 2024, with a ratio of 2.0 with the F-150 and Ram 1500.
The Tundra’s average monthly loan payment has also been on the rise, reaching a record $1,014 in March of 2024, surpassing monthly payments for the Silverado 1500 and F-150 by more than 20 percent and indicating a capacity to command a premium price tag similar to that of the GMC Sierra 1500.
As automakers work towards the hugely expensive EV transition, high-profit vehicles like the Tundra become crucial – and for now, it looks like rivals like GM will have to take notice.
Subscribe to GM Authority for more GM competition news, GM business news, and around-the-clock GM news coverage.
Comments
???????
I saw that RAM outsold Toyota by over 100K units, (more than double Toyotas sales) for the first half of the year. This is in a year rams in transition as well. Where’s this coming from? This is wholly untrue firstly.
This journalist was dissing American brands a week ago in another column, though I forget which one. Though, we just have to face the fact that a lot of Americans do not love the country and have no pride in supporting American brands, engineering, and heritage. The women of this country surely don’t. Oh well, out with the old and in with the new, even if it illegally crosses the border!
I bet a lot of Toyota factory workers in Texas (where Tundra is made) would disagree with you. Silverado, on the other hand has three plants, two of which are outside of the United States.
jtxg: follow the money.
I’ll keep my money in the USA as much as I can. I don’t care where these turds are “assembled”. When the people paying money for them do so, that profit goes back to Japan. No thanks.
I guess the Toyota cult forgot the engines are blowing up…….
Well there’s that, and the all new Taco is having some real issues. From what I’ve read, trans issues among others.
But what I’ve found over my many years in the auto business is that those driving Japanese brand have forever been very defensive in their choices and will put some issues off as “maintenance and upkeep” vs. problems.
And who want’s to be seen in one of those “hideous” things??? Toyota rules the market on ugly automobiles, that’s for sure!
Ugliest truck on the market, for sure!. I can’t believe anyone would drive that butt-ugly truck.
Silverado has 2 plants in the US- Fort Wayne and Flint.
1500’s though are build at:
yes, Fort Wayne Assembly
But also:
Oshawa Ontario
Silao MX
If it is an inferior product, why support it ???
I have a ‘20 Silverado. GM needs to get away from the antiquated pushrod motors.
Overhead cams and some supercharging maybe. I’d look into the hybrid Tundra, but, just something off on the styling.
Oh. Aren’t they American made in Texas.
This is wrong. Ram outsold Tundra by 2.5 times- and that was with low inventory due to a new model.
Steve and Tigger: I may be wrong here, but I think this is a total click-bait article by some pro-Japanese writer. If I read the article correctly, it’s talking only about the light duty (1500 series) trucks. If the numbers included all Rams, all F-series and all Silverado models (including heavy duty), I think these numbers would be much different. And I quote:
“Full-size, half-ton pickups represent one of the most crucial auto segments in the U.S., with fierce c-ompetition among makes. Although it’s the fourth-largest segment in the industry, the full-size half-ton segment”
Joe G: I totally agree about people in the USA not loving it enough to be as fiercly loyal to American brands as all the foreigners now living here who still stay fiercly loyal to their home country brands. They think the USA and our country is so great that they want to move here, but they sure don’t want to buy OUR products. Shame.
I was pissed when I learned that my ’23 High Country was assembled in Mexico, but the dealer said all top-end trucks were made in Sialo, MX. I‘m not sure the dealer was fully honest (imagine that), as a friend bought a ’23 LTZ that was American built and assembled. Anyway, I am very happy that to date, my Silverado 1500 has been perfect.
Apparently some people want to be seen in ugly trucks.
Needs the Euro/Asian Diesel in them.
GM has 4 plants producing full size trucks; one in Fort Wayne, one in Flint (heavy duty), one in Mexico, and one in Canada ( building both 1500 and heavy duty pickups). It’s good to spread out production; makes it easier to phase in redesigned models while still producing existing designs. GM’S relationship with the UAW is patchy and complex, hence them hedging their bets with plants outside of the US proper.
Ford fan sites say that the F-150 is the culprit, mainly. It’s struggling with reliability, constant decontenting and smaller discounts than GM and Stellantis. Farley is taking the whole ship down, fast.
I work in US industrial manufacturing and can tell you that the lines of any publicly-traded company being 100% “American” (or of any one nation, for that matter) are purely an image. The realities are that design teams are global, part sourcing is global, ownership of any publicly traded company is global. Ford Taurus had a Yamaha OHC engine, GM 3.0L diesel was an Opel design, Duramax 6.6L is a partnership with Isuzu, Ram’s 1/2 ton diesel is a Fiat, the Nissan Titan had a Cummins 5.0L diesel built in Indiana, and the list of past and current parts goes on and on. If you like a brand and want to be loyal, there’s nothing wrong with that, but be aware of the realities of global manufacturing.
Warrant123: You know the key factor you avoided? Where the profits go.
Follow the money.
I will NEVER give Japan a dime of my money as long as I can possibly help it.
Except every foreign vehicle manufacturer in the US pays US workers, uses US produced parts, pays local and US taxes. Then they are sold by US dealers and their employees.
Well, yeah, but how many people do they put out of work because their taking business away from US auto manufactures. Don’t count on their so called”American parts” that they use…
The Big Three and the UAW are responsible for not reacting to the Japanese sales for many years. They were arrogant. GM lost market share from over 50% down to about 17% now.
Neighbor worked for Ford and retired from Honda in manufacturing management. He said Honda workers were treated better and listened to. They did not want a union.
I think that is wrong domestic brands still dominated the market ford Chevy GMC and Ram and lately I see more Silverados than any other and I stick with the V8 I don’t like V6 with turbos My Silverado 2011 with 5.3 almost 200000k miles with no issues V8 forever
I’ll stick with GM. They have always been good to me.
If you are a true American then buy American. Last I checked toyota is Japanese. Few of us that have loyalty to our country. And don’t give me the lame excuse of their built in America. Follow The Money!
Same argument I have with the idiots who claim that Honda motorcycles are more “American Made” than Harley-Davidson because they are/were “assembled” in the USA, & H-D outsources SOME parts. STILL the H-D $ stays MOSTLY in the USA, Honda goes to Japan!
Toyota isn’t any better than anyone else, the new Tundra already has engine failures and the new Tacoma is having transmission problems. Turbo charged engines present more problems and expenses and apparently Toyota doesn’t seem to care. Turbos require more maintenance and repair costs, trucks need V8’s for durability. All manufacturers use the same suppliers, quality isn’t that different between companies. They all have global sourcing and Mexico is the beneficiary. John Deere just reported record profits last year and they’re moving all U.S. production to Mexico! Toyota has gotten too big to manage, they aren’t immune to the same problems other manufacturers have.
Giant mouth-grill is old and outdated. Toyota/Lexus need to get away from that design.
Yes, They look like a giant sucker-fish from the front, Lexus included! Hideous rat-nosed front clips with the sucker-mouth grilles…UGGGHHH NO THANK-YOU!
HELLO , TUNDRA = ENGINE FAILURES DO NOT BUY A NEW ONE