How the 2023 Toyota Tacoma stacks up against rivals

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While the current-gen Toyota Tacoma has been around since Adam was an oakum picker, it continues to enjoy a very strong presence and legions of fans. Regularly at or near the top of its segment in terms of sales, the Big T is certainly able to sell every single Tacoma it can build — likely at a handsome profit. Helping matters is a towering resale value and a rabid fan base which is likely to defend the Tacoma’s reputation with the same ferocity with which they plow through off-road obstacles.

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Still, it’s a tough fight. Shoppers are less brand-loyal than perhaps at any point in recent memory, with so-called conquest buyers being front and centre of many transactions. Truck-makers know there’s no point resting too long on their laurels; standing still is a sure-fire way to get passed in a hurry. GM has rolled out new iterations of its midsize twins (Canyon and Colorado), Nissan released a modern take on its offering for the first time in ages, and Ford has a new Ranger waiting in the wings.

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Power

It seems that ‘300’ is the current magic number when it comes to horsepower in midsize pickup trucks. Each of the contenders are within a stone’s throw of this figure, with the three newest models settling in at 310 ponies. You can be sure the next iterations of Tacoma and Ranger (278 and 270 horses, respectively) will increase their output from current levels to at least match — and probably exceed — their rivals.

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Torque is another matter. General Motors has taken the competition to school for 2023, cranking the wick to near or greater than 400 lb-ft of twist. While engineers at Chevrolet have chosen to offer the Colorado in three different states of tune (with our example being the middle tier) their cousins at GMC have elected to endow all Canyon pickups with the strongest flavour they can muster at 430 lb-ft. For now, the Tacoma and Frontier wallow at less than 300 lb-ft of torque. If you’re wondering, manual transmissions are a thing of the past in most of these models, save for the Tacoma, which does offer a six-speed stick in some trims.

Payload

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For anyone unfamiliar, payload is the maximum amount of weight a vehicle can carry. This includes cargo and passengers, plus the amount of weight being pressed onto the truck’s rear end by a trailer hitch. As a loose rule, that latter value is approximately 10 to 15 per cent the trailer’s total weight. It is important to know these details, since it drives home the point that an advertised payload number is not solely the maximum weight able to be borne by the pickup’s cargo bed.

Thanks to some of its off-road features taking up a bit of weight, the Ranger Tremor has a maximum payload of 1,475 pounds compared to a slightly higher figure for some of its other trims. Meanwhile, the old-school Tacoma makes do with just 1,155 pounds when equipped with a Double Cab body style and V6 engine hooked to an automatic transmission. Nissan owners can expect a bit more, with the Pro-4X checking it at 1,230 for its max payload figure.

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As a nickel’s worth of free advice, know that just because yer buddy’s truck has a certain payload rating doesn’t mean that you, with the same make and model but different trim, necessarily have equal hauling abilities. Payload takes into account the total truck weight, so extra features can have an impact here. Case in point: the Canyon AT4 (and Colorado Z71) referenced here has a payload of 1,550 pounds, while the snazzy AT4X Edition 1 has but 1,010 pounds thanks in part to a yaffle of heavy factory-installed accessories.

Towing

It may surprise some gearheads who haven’t been paying attention to this segment that these midsizers can haul nearly as much weight as the half-tons of just a few years ago. Properly equipped with the 53R trailer package, a Ford Ranger can town an impressive 7,500 pounds. Toyota says this spec of Tacoma is good for about a thousand pounds less, though it is worth noting that all 4×4 variants of this truck are equipped with the gear to do so — no extra packages required.

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At GMC, owners of a ’23 Canyon AT4 can go ahead and hook 7,700 pounds to the hitch of their truck (Colorado Z71 drivers can do the same). The warning of trim comparisons amongst the same make and model is worth repeating here, since the AT4X and AT4X Edition 1 trims of Canyon can only haul 6,000 and 5,500 pounds, respectively. Nissan? A total of 6,270 pounds for the Frontier in Pro-4X trim.

Off-Road

Each of the trims represented here are of what this author terms the ‘off-road lite’ variety, an assertion sure to be questioned and fretted by the makers of these trucks. Nevertheless, it is true that, in four of the five here, there is either a stouter off-road package available or one in the pipeline. A TRD Off-Road can be yeeted for a TRD Pro, Z71 for a ZR2, and so forth. Still, these trim levels provide some level of specialized off-road kit along with a dose of rugged styling. For some customers, the latter is more than enough.

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For example, the GMC Canyon AT4 features a two-inch factory lift kit for 9.6 inches of ground clearance and a limited-slip differential for better traction in tough situations.

Long Term Costs

For this analysis, we dusted off the charts and methods we used earlier this year to estimate the approximate long-term costs for a set of electric vehicles versus their gasoline-powered synonyms. This time around, our roster of midsize trucks is evaluated. Our own David Booth has expertly explained why buyers should be looking far beyond a car’s monthly payment to find its true cost.

Recognizing there are a myriad of body styles and drivetrain types in some of these entrants, we have selected the beyond dominant cabin configuration — four full doors and a short box — in a popular trim paired with the most powerful engine and four-wheel-drive. Interest rates are current as of this writing and sourced from the respective manufacturers, and pricing estimates were made for the new GM twins whose stickers have not yet been revealed.

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The most surprising revelation? How close all five of these pickups are in terms of total cost of ownership over 36 months. With a spread of just $60.66 from the least- to most-expensive, one could throw a blanket over this quintet and cover the lot. Still, a trio of twenty dollar bills each month adds up over time, so let’s examine where the money goes.

Perhaps the best compare-and-contrast exercise is between the Ranger Tremor and Tacoma TRD Off Road. While the Ford is about $800 more expensive, its more favourable lending terms more than make up that difference on a monthly payment. Total fuel costs are within spitting distance of each other (proving what we’ve long contended — you can have Eco or Boost but not both) but maintenance expenditures are tilted heavily in favour of the Blue Oval, resulting in major savings over three years. We will let our readers draw their own conclusions about the state of today’s interest rates and the effect they have on the sum shoppers will actually pay for a vehicle vis-à-vis its actual purchase price.

So, with average monthly costs for all five trucks checking in at roughly $1,200 per month each, our consumer advice turns to buyer’s own priorities. This author would likely select the GMC for its towering horsepower and torque figures compared to its rivals, but others may be swayed by the Ford’s good looks or Toyota’s future value. Whatever you choose, always make certain to consider the costs — all of them.