2024 Tacoma MSRP vs. 2016 MSRP Inflation Adjusted

2025Taco? · Nov 29, 2023

Hey all,

After reading several comments complaining about the "high" MSRP for the 2024 taco, I got curious how the 2024 MSRP compared to 2016 when adjusted for inflation.

I've attached a PDF for better readability as-well. Please forgive my novice excel skills, ChatGPT did all the heavy lifting here.

2024 Tacoma 2024 Tacoma MSRP vs. 2016 MSRP Inflation Adjusted Tacoma Graph excel

HorselessCarriageEnjoyer · Nov 29, 2023

Interesting perspective. Looking at two possible specs that I'm personally interested in, SR5 vs. TRD Sport (both 4x4/Auto/LB), it looks like the SR5 price increase outpaced inflation while the base price of the TRD Sport actually DECREASED in real terms.

Looks to me that Toyota is trying to "compress" the price spread of these trucks (excluding hybrid specs, obv). Unfortunately for us, it appears they are trying to perform this compression by raising the floor by a lot more than lowering the ceiling.

I'm curious though, why did you perform a "recalculation" of the inflation-adjusted 2016 MSRPs using ChatGPT? It just seems redundant and confusing to me, especially since you're supposedly using the same date range, which should have the same CPI index values.

Ultimately, while this chart is helpful in offering up a "translation" of these prices from the launch of the previous gen to the launch of this gen, there still are a lot more variables to consider when sizing up the affordability of the new Tacomas. I think the biggest issue is that the costs of other necessities have grown at a rate that has outpaced inflation, while people's incomes have remained mostly stagnant (Graphs below is my source). This leads to the perception that something is less affordable, despite the price in real terms holding steady, because people's wallets are just stretched a lot more thinly now than they were half a decade prior.

2024 Tacoma 2024 Tacoma MSRP vs. 2016 MSRP Inflation Adjusted 1701295973107

2024 Tacoma 2024 Tacoma MSRP vs. 2016 MSRP Inflation Adjusted CEA-May-Groceries-Blog-Figure-1

2025Taco? · Nov 29, 2023

I agree, the recalculation column is redundant.

Initially I did the first calculation, and then realized chat GPT could do it for me. I don’t trust ChatGPTs math skills, so I left both sets of data in there. Admittedly the variation seems insignificant, and I should’ve removed it for clarity.

Thanks for the reply!

Mcssls · Nov 29, 2023

The way I see it is the price is just another excuse to complain. If you can’t afford it don’t get it. I’ll be more than happy to drive by waving from my new Pro next spring.

MT-Taco · Nov 29, 2023

HorselessCarriageEnjoyer said:
Interesting perspective. Looking at two possible specs that I'm personally interested in, SR5 vs. TRD Sport (both 4x4/Auto/LB), it looks like the SR5 price increase outpaced inflation while the base price of the TRD Sport actually DECREASED in real terms.

Looks to me that Toyota is trying to "compress" the price spread of these trucks (excluding hybrid specs, obv). Unfortunately for us, it appears they are trying to perform this compression by raising the floor by a lot more than lowering the ceiling.

I'm curious though, why did you perform a "recalculation" of the inflation-adjusted 2016 MSRPs using ChatGPT? It just seems redundant and confusing to me, especially since you're supposedly using the same date range, which should have the same CPI index values.

Ultimately, while this chart is helpful in offering up a "translation" of these prices from the launch of the previous gen to the launch of this gen, there still are a lot more variables to consider when sizing up the affordability of the new Tacomas. I think the biggest issue is that the costs of other necessities have grown at a rate that has outpaced inflation, while people's incomes have remained mostly stagnant (Graphs below is my source). This leads to the perception that something is less affordable, despite the price in real terms holding steady, because people's wallets are just stretched a lot more thinly now than they were half a decade prior.

This graph..

wy3134 · Nov 30, 2023

Mcssls said:
The way I see it is the price is just another excuse to complain. If you can’t afford it don’t get it. I’ll be more than happy to drive by waving from my new Pro next spring.

this kinda logic is how you end up paying $100k in a decade for a midsized truck. throw common sense out the window and just be happy to pay whatever price they throw on it. its nothing to do with being able to afford it or not...this is like being happy your taxes go up 20% and just saying well get a job to afford it and be happy they didnt go up 30%

Kielly · Nov 30, 2023

I'm not sure why people are really complaining to begin with. The predictions I seen in the past are pretty much on par with the MSRP released, the premium package is a little on the wild side but all said and done given the current market, and price for anything in general it's not horrible, given it's a new generation with a bunch of new tech.

That being said, I personally think anyone who's probably going to fork out 80k Canadian or more for these TRD Pro's is borderline insane, a fully loaded off-road with the TRD lift and spacers will pretty much be a TRD Pro lol.

2023 Tacoma's are reselling damn near on par with the 2024 Tim's MSRP that I'm looking at getting, in my area. So I find it hard to complain. Buy a laggy V6 with a not so nice looking interior, or spend the same on a 2024, no brainer for me.

2ndGen2TrlHntr · Nov 30, 2023

Kielly said:
I'm not sure why people are really complaining to begin with. The predictions I seen in the past are pretty much on par with the MSRP released, the premium package is a little on the wild side but all said and done given the current market, and price for anything in general it's not horrible, given it's a new generation with a bunch of new tech.

That being said, I personally think anyone who's probably going to fork out 80k Canadian or more for these TRD Pro's is borderline insane, a fully loaded off-road with the TRD lift and spacers will pretty much be a TRD Pro lol.

2023 Tacoma's are reselling damn near on par with the 2024 Tim's MSRP that I'm looking at getting, in my area. So I find it hard to complain. Buy a laggy V6 with a not so nice looking interior, or spend the same on a 2024, no brainer for me.

I am in agreement with you here. The prices in most cases are a reasonable increase. The premium package is (crazy) almost a deterrent and would make me reconsider which model I was choosing if I wanted all those features and probably move up to a Pro, TH, or Limited depending on what you were looking for. I'm going TH so no need for me. These new models are light years ahead of the gen 2 and 3 so I am not at all surprised by the adjustment vs previous generation to generation cost differences. Almost everything has been improved. These aren't cosmetic changes either; new tech, re-engineering of almost everything, refinement, etc.,

Clervis · Dec 1, 2023

This could've gone another way. The e-commerce industry saw that people were willing to pay X during a shortage, so new lines simply set their price to X (gpus, concert tickets, sneakers). Imagine if Toyota--and competitors--had taken peak dealer "market adjustments" and simply added it to MSRP.

2024 Tacoma MSRP vs. 2016 MSRP Inflation Adjusted

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