Toyota Takes On GM With New Tacoma Pickup

(RTTNews) - Toyota Motor Corp (TM) unveiled its all-new Tacoma pickup truck at the Detroit auto show as the Japanese automaker seeks to rival General Motors Co (GM) that has made inroads in this competitive segment.

Last year, GM had thrown the gauntlet by releasing the Chevy Colorado and GMC Canyon pickups, both which seems to have gone down well with customers.

For much of the last decade, Toyota's earlier version of Tacoma dominated the mid-size truck scene, even as the sheen waned somewhat as customers' penchant shifted toward crossover SUVs and full-sized trucks.

Tacoma, which has about 60 percent of the market share in the mid-size pickup truck segment, has also to contend with competition in the mid-size truck segment from Nissan Frontier and Honda Ridgeline.

The 2016 Tacoma is equipped with an all-new optional engine, a direct-injected V-6, in place of the 4.0-liter V-6. The new Tacoma's base would continue to have a four-cylinder engine, and a new six-speed automatic transmission will be standard with both engines.

The truck's base frame has been modified, and the base frame rail design is similar, but is not carryover. The body shell and body structure are new. All models also are equipped with a GoPro camera mount near the rear-view mirror.

Customers can also choose to include a a wireless charging spot for smartphones, moon roof and touch-screen audio systems, among others.

The truck launch comes amid a plunge in gas prices that have propelled customers to throng auto outlets to make the most of it.

Other automakers too threw in their weight at the North American Auto Show. Nissan unveiled its Titan XD full-size truck, while Ford Performance unveiled the 2017 F-150 Raptor off-road beast.

TM is trading at $127.47, up $1.65 or 1.31%, on the NYSE.