@@miketroutsdad2102Exactly. Whilst wages keeping pace with inflation is an issue, it's not what is currently driving inflation. It's as simple as willing buyer, willing seller. Automakers operate on signals from the market. If the market signals buyers are willing to pay more, automakers will raise prices to the highest point they can get away with. Something compounding the issue is Credit. Very few actually consider the selling price of a vehicle vs the monthly payment, and that is simply down to lending practices. 20 years ago, it was unheard of to finance vehicles over a 72 month term, now it's common. Leases were reserved for exclusive financial customers or large companies, now it's common. Prices have crept up because finance companies have found ways to stretch payment terms. That has meant that vehicle prices have gone up. Also Financial education and "keeping up with the Jones's" plays a roll. Because why would I buy a Carolla for $350 per month if I can get a Forerunner for $150 more? If we made it illegal to finance a vehicle today - cash purchase only - I guarantee prices will come down 60+%.
It's not just the trucks that are a larger percentage of yearly wage from 04 to today. Its everything that is a larger percentage. Thats called inflation. The truck is not more expensive than it once was, your money is just worth less than it once was. That is government money printing at work.
@@jasonday4658yeah it’s in the valley so intake manifold has to come off. My sequoia has gone 200 plus and I’ve talked to a bunch of higher mileage sequoia owners…none of us have ever had a starter issue…but not like you could hit it with a hammer in a pinch.
Accounting for inflation the average income in the US was $55,000 in 2005, but that would equal $88,000 in today’s money meaning the vehicle cost the same but wages have not increased equally with inflation. I.e., it takes more out of your budget to pay for a new car now than it did then by an exponential amount.
And manufactures know this so they now have crazy long Fiance terms. People need to be more educated and not think of buying a car as “being able to afford the monthly payment” and look at the total cost of the loan and how they may end up quickly having negative equity. It’s sad
I made this comment previously as well. Of course you have more American viewers but that doesn’t mean you could simply state prices in both USD and CAD. Come on, let me support the Canadian channel!
One point that you did not touch upon is the maintenance issue with the new vehicles. I like to be able to crawl underneath the truck, change the oil and be able to see what is going on without having a PhD to figure things out. The new vehicles not only have added complexity to the engine in the form of 3 cooling systems, two batteries, four timing chains, and so forth. This also brings on more maintenance needed for these vehicles at more precise intervals because of the hotter temperatures and moving parts. But when it comes to when the rubber meets the road and something goes wrong, it is nice to be able to at least problem solve on the run and figure out how to fix it instead of trying to describe it to the service manager at a designated dealer that will charge you out of home and house to fix it.
I think the thing that is being overlooked in this video between the old and the new, is reliability. The older engines are n/a, and certainly have proven themselves to last last!! When you take a much smaller displacement engine and use boost, many things happen. The new engine will be worked much harder to make the new big numbers, and that has consequences as the engine wears out more quickly, plus the turbo setup itself runs very hot, and heat is an enemy to long term reliability
They priced me out of a new Tundra two decades ago. I’ve gotten pretty good at buying very expensive Toyotas with plenty of life left in them at the absolute bottom of their depreciation curve.
@ I’ve got to start selling some of these things. I’ve got more 1990s Toyotas than any man can enjoy by himself. Would be cool to give a few away to some young guys/girls that can’t afford fun RWD toys.
when you look at inflation its a buying power issue which is why cost of goods and living are exceeding wages. The more they print its stripping your future buying power and value of whatever youve saved its not just a cost of goods. So its not cheaper in any way since most salaries havent moved
My dad was a mechanic and owned a shop he was a toyota man and so am i he is 83 and still has one Im rocking a 98 4cyl 4 runner as my winter beater and its still mint My girlfiend has my dads 2003 v8 4 runner with 230k on it they both run great Sure it cost some money to keep them up but no monthly payments 😂😂
Something to be said about Toyota reliability, IF you do the maintenance. With a little care most models go for a long time. In Canada the road salt gets them before the mechanical and electric systems fail. As a long time vehicle owner parts used to be the biggest problem and that has changed significantly. Because of online shopping it’s easier to keep older vehicles running. Years ago Toyota parts were hard to find and expensive.
Sure, going by the inflation of goods, it would seem like it's the same, and that makes sense. But as pointed out, value is also relative to buying power, and that 62k average that people make now only has the same buying power as about $38,500 in 2005. So realistically we've seen ~30% increase vs our buying power.
A $7k to $12k price increase from the previous model years with a severe reduction in quality (cheaper/more plastic interiors, lack of hydraulic hood) and the cost savings of Toyota’s TNGA platform making these trucks essentially Lego builds for their manufacturing are my biggest issues. These trucks simply are not worth what they are priced at even before considering the reliability (or lack thereof) of the new engine/transmission.
Put the average wage in the inflation calculator. It’ll show that wages are not keeping up with inflation. $55k wage in 2005 should be $88k now. Hence no one can afford the expensive new trucks.
2006 v8 4runner owner here and I get sick to my stomach knowing rust is going to eventually eat it alive one day(sooner than later ) . the day its in the ground, I will get another 4th gen 4runner.
@@jasonday4658 It has been sprayed in the past(before I owned it). I take it for a weekly undercarriage wash during winter months now. I feel like getting it sprayed now would give it a death wish by trapping in the rust.
Basically what it boils down to, is peoples wages didn't inflate as much as the price of goods and services. So if it didn't go up as much where did the money go?
Great video as always! I think the inflation calculator might have been paid for by the auto industry and most assuredly from the government! Salary 55k to 62K while car price went from 38k to 60k! The car cost more than people make in a year today while you could pay for the car and still have 17k left over in the past! Those real world numbers do not lie. However, you do get better gas mileage and modern safety that do offset some of this but you would have to drive more miles than I could imagine to actually make up that savings! Anyhow, my 2003 4runner has been great and at 320,000 I couldn't have asked for more! Thanks as always for the videos!!!
If I use the canadian dollar inflation calculator on my 2015 tacoma, which had an msrp of 28,000 ( Base, 4 cylinder, 4X4 ) , it ends up being about 35,000 in 2024. A Base tacoma in canada is now 49,000.
I've been pointing this out. I had a job in 2003 working at a company that built pricing tools for Toyota. I was intimately familiar with what they all costs, and I've also owned one or two Toyota trucks/suvs from each of these generations. They are not really more expensive. If you're complaining about affordability, that's a different economic discussion. Toyota is affected by inflation just like we are.
I bought my 2022 trd sport tacoma fully loaded with power options minus the sun roof, $48,128 out the door. Was at Mike's toyota last month found a 2024 equivalent, bar it was raised 3 inches and had no rare sliding door. Was just short of 54k before add ons taxes etc. People can't afford that no more. And no one wants a truck that sounds likes it's powered by a mosquito chasing a blood pack.
I’ve got a 96 Tacoma SR5 with a stick and thinking about selling it for the new Tacoma but after seeing what Tacoma sport prices are with a stick, I’m pretty reluctant. Most dealerships around me are asking for 50k for a TRD sport, not including whatever else markup they’ll put on it and cost of full coverage insurance. It’s become too expensive to buy so now I’m looking at used FJs
The increase out paces inflation, but its hidden in option packages. I paid $36,400 for a fully loaded 2016 TRD DC LB OR Tacoma ($47,848 today). A comparably equipped 2025 is $58,349 (-$3,000 for Power tailgate/seats/heated steering/JBL stereo) = $55,349 ($42,150 in 2016 $$).
In 1999 I bought a brand new Limited for right around $37,000 USD. Then in 2016 I bought a 4Runner Trail Premium for just under $38,000. Then in 2022 I bought a new 4Runner TRD Off-Road premium (same as the '16 Trail Premium) for $48,000. So...There you go.
The MSRP before options was $46,580 for my 2023 TRD ORP . Total sticker price $54,721.(New Nov. 2023) The MSRP for the 2025 TRD ORP (gas) is $54,970 and Hybrid $57,770. 😯
Interesting your analysis, good content. For people in other markets than US and Canada there is another tiny detail we have to consider, money depreciation. For example here in Mexico back in 2005 our exchange rate was 10.9 pesos x 1 dollar, nowadays it’s 20 pesos x 1 dollar, so yes car prices are way too different even considering all the factors you analyzed. And the worst part is that even the Tacoma is built here we don’t have better prices nor all the trims are offered in this market, just few of them. 😢
You're very correct about the cost of living being way different today. Hats off to that V8 4Runner there. I'm in a 19', that's paid for. Have no plans to buy anything new, anytime soon
however 55k in 2023 doesn't equate to 68 in 2024. We're mad because the previous gens, 2nd gen Tundra, 5th gen 4R, and 3rd gen Taco were so much cheaper compared to today.
The 2005 Tundra was not a viable US truck, the truck and bed was undersized. I purchased the 2007 when the truck became full size. Some buy the trucks by the bed size as that is really what a truck is.
It’s not the price hike that concerns people it’s the quality. I’m sure people will pay the current price for the old school reliable Toyota. Greed got in the way.
they have released the price of the 25 tacomas. the configurators are also out on their website. some inventories show that its arriving last week of december so its here even though there are so many 24s that are on their website dealer lots. looks like they will stop 24 production and move to 25 soon. hopefully they made some changes to any issues they found on the 24
Lot Lizards, lol. Love it. Hey try wearing a microphone to avoid the garage echo. Great video, Like others I won't be buying new. The 20 year old vehicles are still the best. Bonus, where I live in coastal BC they don't rust, plenty of winter rain instead of snow and salt.
Yep, key point is wages not rising as fast as inflation, so normal people are getting priced out of the market for both cars and housing. That can't last forever or society will collapse.
You did not compare the long-term expense of fuel for the new vs old trucks. 22mpg vs 16mpg, drive it 200000 miles, means you burn 12500gal of fuel in the old one. Times $4 per gallon equals $50000 of fuel. New one would only cost $36363 in fuel, which works out to $13637 less not to mention the lower environmental impact.
When you say the new trucks are cheaper. That might be true in regards to price. However, the materials Toyota is using to keep the prices down are cheaper, too. These trucks don't have metal bumpers anymore. Customers are complaining about hood flutter. To issues with the paint and the looseness of the glove box. I'm currently Lemon Lawing, my 2024 Tacoma. The day I picked up my new Toyota, I washed it. Found all kinds of flaws in the paint! It's pretty bad when you snag a microfiber towel on dirt embedded in the paint/clearcoat. Not only that, but a new vehicle shouldn't have to be clay-barred. Or need the use of a finish correction compound. I spent 10 hours trying to remedy the issue. With no avail! Took it back to the dealership the very next day. To make a long story, short. My Tacoma was at the dealer 9Xs for Toyota to fix it, and they failed. After the 6th attempt! I took it to a buddy's high-end hotrod shop's painter. To get his opinions! Plus, two other reputable autobody shops. All three said it needs repainted and clearcoated. To do the job right, it must be disassembled. I'm not going to let Toyota half-ass it. Maybe 2 or 3 months ago, I would have taken a different Tacoma, but not now. Because other issues appeared! One was an electronic, and the rest were cosmetic. I'm so sick of dealing with the BS. So, on Black Friday, I purchased a different brand new pickup truck. The last time my Tacoma was at the dealership. I had my father pick me up and take me home. When I was called to pick up the vehicle up. I trailered it home! It doesn't even have 1,800 miles on it yet. I figured it was time to embarrass the Toyota dealership. This is a bad optic for potential customers to see. Having a brand ne Tacoma being hauled to the dealer. Instead of driving it! They can try to explain that stuff to their customers......
Too sum things all up. Don't price over 52k for a well equipped mid size truck. That is about the price range for the average american and that 52k is after tax and out the door.
People are complaining a lot about Toyota and increased cost, but are not mentioning the increased cost of ALL the other manufacturers as well. They have all gone up in price. And they have all outpaced the increase in pay because Americans keep voting for Billionaires instead of sensible people who will raise minimum wages.
You're comparing new vehicles with 20 yr old vehicles that are still going strong with minimal wear. If these news trucks and SUVs are doing the same come 2055, I'll buy you a beer sir 😂
Although I'm a big Toyota fan! (also open-minded on other car brands) and I have to say 1 = Their new trucks and SUVs are complete overpriced junk that nobody's buying them! (because 70k-100k for a new Tacoma/Tundra with feature of falling-apart quickly) for that same money. I would buy the tried and true Toyota LC200! 2 = Also, many of LC300/LX600 owners in GCC countries (Saudi Arabia, UAE, Qatar, Kuwait ..etc) regret about that V35A (V6 TT) because of overheating and more complete engine failures that would spend their time and money on shops sadly, plus transmission failures on those LC300s! 3 = Plus, I really hate car payments that cost you same as a house mortgage, plus with corporate greed, government corruptions that not just on cars but on everything you imagine (especially US/Canada). that's my honest opinion about the new Toyota trucks! your brother from Algeria. stay safe and take care of your good oldies!
Everything to today's world has increased in price which in turn effects MSRP on all vehicles. R&D, steel, computer chips, transportation, labor, fancy robotics and construction of new factories/assembly lines have all played an inflationary role. It's crazy to realize that a brand-new Tacoma MSRP is $100K, when you could have bought a new loaded up Tacoma in 2015 for $50K in Canada. Factoring in dealer greed also plays a role as well. Don't forget that older Toyota's did not have as many electronic gizmos on them when compared to new models. More complexity leads to more problems and repairs. Chances are you will get a better out the door price on a new Toyota if you finance it. The business office gets a kickback when financing through a major bank. Purchase a new Toyota, make your first payment, then pay it off in full after that ASAP is something new buyer's might want to consider. This will also increase you credit rating as well. New Toyota's do not have the same reliability and build quality when compared to their older models. Don't get me wrong, they are still better than most competitor brands, but Toyota durability/reliability is definitely not what it used to be. Really makes you wonder and scratch your head to think what a new rumored to be coming Celica or MR2 are going to be priced at. IMHO, more than the average enthusiast can afford, that's for sure.
really hate that 2UZ-FE (4.7 non VVTi), it got knocked on my friends LandCruiser at about 80k miles, otherwise - I`d bought that car from him and that would have been my first car back in the days. That is certainly not reliability
I was about to say, if you adjust for inflation of the US dollar, the price increase is inline with inflation of the dollar give or take a couple hundred bucks.... But then you also ran the numbers as well so my point is moot.
Interesting take on Toyota truck models. First off I am biased having owned 10 Toyota vehicles among them a V6 4 Runner manual and a Tundra crew max before getting my 2024 Tacoma sport with 6 foot bed and automatic. Toyota historically builds durable and reliable and tough vehicles to destroy. And when they screw up, they own up to it and they fix it. That has been my experience and why I am loyal to the brand.. EPA combined with crash and safety standards have severely tested truck design. They are supposed to be tough and durable but now as opposed to the past, they need to be incredibly fuel, efficient and light as possible. Two ideologies in direct conflict with each other. Now consider that a truck is an aerodynamic brick. In short, the new Toyota trucks are dam impressive. I am not the least bit concerned that the new version of the Tacoma will be a fine vehicle for me for years to come. As for the Tundra engine fiasco, which is what it is as stated before I have a little doubt Toyota will make good. Should it have happened in this day and age with the state of manufacturing technology and quality control processes definitely not. Somehow, I feel there is more to be revealed on the metallurgy of the Tundra engines. And possibly the oiling system.. Lastly, it’s no joke how inflation when factored into pricing and value is a real eye-opener.
Toyota trucks have always been expensive. The 4Runner was never the "affordable option" vs other offerings, neither was the Tundra nor Tacoma. They were also never the "performance leader" in HP, tq, towing or any other metric you could imagine on a brand new vehicle. The whole deal was expected reliability as expressed through resale value. The old Toyotas lived up to the expectation pretty much across the board, the resale value came with it. The quality justified the relatively high price, AND there was usually a stripped down version available (in theory at least) that still kept the same "QDR" promise. Now we have the same QDR expectations, the same high prices, with fewer choices, no engine options, and major red flags on all the newly designed trucks. Since they all share one of two engines and the same transmissions, all of them are compromised. Some of the decisions are baffling: LC ground clearance, Tacoma without bump stops, no 2-door tundra, no V8 hybrid, front axles that break so that they don't break in a different way, but still leave you stranded, engine and transmission catastrophic failures. The real question is what went wrong?
While I totally understand the logic etc... And using American numbers and stuff and how you did this, but .... My 2019 Tacoma Sport premium with a tire & wheel pack, and the TRD performance exhaust was just under 39 grand Canadian.. the 2024 Tacoma Sport premium with no extras is just under 62 grand.. that's a 23 grand difference in 4.5 years.. anyway you slice it, that's a very large jump, compared to normal. What Toyota did was just make their vehicles on par price wise as the competition etc.. My ’24 4Runner off road premium was 57 and change MSRP when I ordered.. now Toyota says MSRP is just over 60.. and the ’25 version of it is 67 and change.. so a 7 to 10k price jump in one model year depending when you ordered...
I just piad 3700 for a WJ jeep grand cherokee with the straight 6 and selec trac. I had one for 17 years before this. unstoppable engine, unstoppable offroad, super comfortable inside. well maintained and probably 200k miles of life in it. three thousand. seven hundred. dollars. (mike drop). a hundred grand for a truck....please. stoopid.
What is inflation? Where do these numbers come from? Who selects the variables to calculate inflation? Who controls the "money" (credit) supply? You trust central BANKSTERS?
New truck records were when and how you drive. Your at x location save the info for years. We don't share with the government then in the terms we do.share with the government... it's a game they play in the terms
Toyota has traded reliability for gimmicks and all Tacomas are now built in Mexico. Sad state of affairs for Toyota. Really wish they offered rugged bare bones (or just basic without all the cameras and spying) 70 Series or a basic Tacoma with a V6 and the old tried and true transmissions or if they wanted to, make a reliable 8 speed automatic for it (although I prefer shifting myself). Toyota has lost is way and it is relying on the fan base ignoring the big dent in reliability this huge shift in technology has brought.
Base model always priced cheap and normally an unicorn to find. Why don’t you compare Trd pro? I bought my Tacoma trd pro at 2018 for $52,000cad, the new one is almost doubled. Is that also inflation or greed? This video is either biased or pick and choose the variables to support your point. Plus, stop defending corporations like your family business, they aren’t worth it. They will happily screw you over.
I didn't include the TRD Pro because it didn't exist back then. If you think I'm defending corporations, give you head a shake - I literally explained why the new trucks suck compared to the old ones
Want to tell the world that the old trucks are awesome? Buy a t-shirt here: canadiangearhead.com/shop
I got tired of explaining this to people. Adjusted for inflation, my 2003 limited was just as pricey. People can't comprehend this simple concept.
@@treasurethetime2463 put your garbage back in. Have your salary doubled? all prices are relative to purchasing power not to absolute inflation.
From your own numbers: 53% of yearly wage in '04 for a Tacoma, vs 75% in '24. Significantly less affordable today.
Correct - clearly a wage issue and not the price of the trucks
If wages increased so would the current prices. It isnt a wage issue.
@@miketroutsdad2102Exactly. Whilst wages keeping pace with inflation is an issue, it's not what is currently driving inflation. It's as simple as willing buyer, willing seller. Automakers operate on signals from the market. If the market signals buyers are willing to pay more, automakers will raise prices to the highest point they can get away with.
Something compounding the issue is Credit. Very few actually consider the selling price of a vehicle vs the monthly payment, and that is simply down to lending practices. 20 years ago, it was unheard of to finance vehicles over a 72 month term, now it's common. Leases were reserved for exclusive financial customers or large companies, now it's common.
Prices have crept up because finance companies have found ways to stretch payment terms. That has meant that vehicle prices have gone up. Also Financial education and "keeping up with the Jones's" plays a roll. Because why would I buy a Carolla for $350 per month if I can get a Forerunner for $150 more?
If we made it illegal to finance a vehicle today - cash purchase only - I guarantee prices will come down 60+%.
Also, taking housing prices and increases + insurance + food increases into account, the average Joe has a lot less to spend today vs 20 years ago.
It's not just the trucks that are a larger percentage of yearly wage from 04 to today. Its everything that is a larger percentage. Thats called inflation. The truck is not more expensive than it once was, your money is just worth less than it once was. That is government money printing at work.
I'd way rather have a 4.7L V8 over any of the new motors.
Old is gold, baby
@@CanadianGearhead 100%
Only downside is the starter.
@homeisneptune9315 I haven't tried to replace one yet, but the location looks like a pain in ass. Is that what you're referring to?
@@jasonday4658yeah it’s in the valley so intake manifold has to come off. My sequoia has gone 200 plus and I’ve talked to a bunch of higher mileage sequoia owners…none of us have ever had a starter issue…but not like you could hit it with a hammer in a pinch.
Accounting for inflation the average income in the US was $55,000 in 2005, but that would equal $88,000 in today’s money meaning the vehicle cost the same but wages have not increased equally with inflation. I.e., it takes more out of your budget to pay for a new car now than it did then by
an exponential amount.
If you adjust everything for inflation, you could even say wages went down, not up.
Exactly
Wages can't support the new automotive market!
And manufactures know this so they now have crazy long Fiance terms. People need to be more educated and not think of buying a car as “being able to afford the monthly payment” and look at the total cost of the loan and how they may end up quickly having negative equity. It’s sad
I made this comment previously as well. Of course you have more American viewers but that doesn’t mean you could simply state prices in both USD and CAD. Come on, let me support the Canadian channel!
You said it. Reliability, reliability, reliability. I just bought a 2024 4Runner. About 5k less than the projected price of a comparable 2025.
One point that you did not touch upon is the maintenance issue with the new vehicles. I like to be able to crawl underneath the truck, change the oil and be able to see what is going on without having a PhD to figure things out. The new vehicles not only have added complexity to the engine in the form of 3 cooling systems, two batteries, four timing chains, and so forth. This also brings on more maintenance needed for these vehicles at more precise intervals because of the hotter temperatures and moving parts. But when it comes to when the rubber meets the road and something goes wrong, it is nice to be able to at least problem solve on the run and figure out how to fix it instead of trying to describe it to the service manager at a designated dealer that will charge you out of home and house to fix it.
Prices may have kept up with inflation but not our wages! Way less "affordable" these days.
especially for canadians
I think the thing that is being overlooked in this video between the old and the new, is reliability. The older engines are n/a, and certainly have proven themselves to last last!! When you take a much smaller displacement engine and use boost, many things happen. The new engine will be worked much harder to make the new big numbers, and that has consequences as the engine wears out more quickly, plus the turbo setup itself runs very hot, and heat is an enemy to long term reliability
99% of these truck owners use them like minivans
I mean.... nothing wrong with that. It's holds everything you'd want AND can tow
They priced me out of a new Tundra two decades ago. I’ve gotten pretty good at buying very expensive Toyotas with plenty of life left in them at the absolute bottom of their depreciation curve.
That is definitely the best way to do it. Come to think of it, I think we did pretty well on the 4Runner and Taco purchases
@
I’ve got to start selling some of these things. I’ve got more 1990s Toyotas than any man can enjoy by himself. Would be cool to give a few away to some young guys/girls that can’t afford fun RWD toys.
This is exactly what we do
when you look at inflation its a buying power issue which is why cost of goods and living are exceeding wages. The more they print its stripping your future buying power and value of whatever youve saved its not just a cost of goods. So its not cheaper in any way since most salaries havent moved
That was the whole point of the video - it's a wage problem
@@CanadianGearhead well u kept comparing cost. its everything' wages' cost of goods etc
My dad was a mechanic and owned a shop he was a toyota man and so am i he is 83 and still has one
Im rocking a 98 4cyl 4 runner as my winter beater and its still mint
My girlfiend has my dads 2003 v8 4 runner with 230k on it they both run great
Sure it cost some money to keep them up but no monthly payments 😂😂
Feels good
Something to be said about Toyota reliability, IF you do the maintenance.
With a little care most models go for a long time. In Canada the road salt gets them before the mechanical and electric systems fail.
As a long time vehicle owner parts used to be the biggest problem and that has changed significantly.
Because of online shopping it’s easier to keep older vehicles running. Years ago Toyota parts were hard to find and expensive.
Sure, going by the inflation of goods, it would seem like it's the same, and that makes sense. But as pointed out, value is also relative to buying power, and that 62k average that people make now only has the same buying power as about $38,500 in 2005. So realistically we've seen ~30% increase vs our buying power.
Funny, my wages haven’t inflated at the same rate.
I'll never let go of my 2nd gen manual tacoma. 100k for a new one that blows up is insane
Turbo 4 cyclinder no good engine!!
For the new 4R, I wish they had kept the V6, updated the transmission, and offered a version without safety sense for $40k US.
A $7k to $12k price increase from the previous model years with a severe reduction in quality (cheaper/more plastic interiors, lack of hydraulic hood) and the cost savings of Toyota’s TNGA platform making these trucks essentially Lego builds for their manufacturing are my biggest issues. These trucks simply are not worth what they are priced at even before considering the reliability (or lack thereof) of the new engine/transmission.
These new 4 runners are expensive, and I'm still loving my '04 4runner.
Solid trucks👍
Wages have not kept up with inflation.
Put the average wage in the inflation calculator. It’ll show that wages are not keeping up with inflation. $55k wage in 2005 should be $88k now. Hence no one can afford the expensive new trucks.
you missed the main point, the new ones aren't worth the price tag. All new cars and trucks just junk today, more like motorized wheeled appliances.
The used Tacoma/4Runner market prices are absolutely insane
V6 and v8 is where is at!!😋
2006 v8 4runner owner here and I get sick to my stomach knowing rust is going to eventually eat it alive one day(sooner than later ) . the day its in the ground, I will get another 4th gen 4runner.
Fluid film is your friend 👍
@@jasonday4658 It has been sprayed in the past(before I owned it). I take it for a weekly undercarriage wash during winter months now. I feel like getting it sprayed now would give it a death wish by trapping in the rust.
Wages have fallen behind inflation over the years and despite productivioty gains.
Yes sir, old ones are gold. On my 4th 4.7L rig
Basically what it boils down to, is peoples wages didn't inflate as much as the price of goods and services. So if it didn't go up as much where did the money go?
Billionaire pockets
Great video as always! I think the inflation calculator might have been paid for by the auto industry and most assuredly from the government! Salary 55k to 62K while car price went from 38k to 60k! The car cost more than people make in a year today while you could pay for the car and still have 17k left over in the past! Those real world numbers do not lie. However, you do get better gas mileage and modern safety that do offset some of this but you would have to drive more miles than I could imagine to actually make up that savings! Anyhow, my 2003 4runner has been great and at 320,000 I couldn't have asked for more! Thanks as always for the videos!!!
its not about purchasing power its about rate of rising prices of things and rate of people's growth in income being non proportional
If I use the canadian dollar inflation calculator on my 2015 tacoma, which had an msrp of 28,000 ( Base, 4 cylinder, 4X4 ) , it ends up being about 35,000 in 2024. A Base tacoma in canada is now 49,000.
Its more shocking that they are junk. And its not just the trucks.
Happy with my 4L V6, 4runner Limited
I've been pointing this out. I had a job in 2003 working at a company that built pricing tools for Toyota. I was intimately familiar with what they all costs, and I've also owned one or two Toyota trucks/suvs from each of these generations. They are not really more expensive. If you're complaining about affordability, that's a different economic discussion. Toyota is affected by inflation just like we are.
never buying a new car ever with these prices.
I bought my 2022 trd sport tacoma fully loaded with power options minus the sun roof, $48,128 out the door. Was at Mike's toyota last month found a 2024 equivalent, bar it was raised 3 inches and had no rare sliding door. Was just short of 54k before add ons taxes etc. People can't afford that no more. And no one wants a truck that sounds likes it's powered by a mosquito chasing a blood pack.
in another 10 years people will still be complaining about the same things
I’ve got a 96 Tacoma SR5 with a stick and thinking about selling it for the new Tacoma but after seeing what Tacoma sport prices are with a stick, I’m pretty reluctant. Most dealerships around me are asking for 50k for a TRD sport, not including whatever else markup they’ll put on it and cost of full coverage insurance. It’s become too expensive to buy so now I’m looking at used FJs
Shocking truth is, money is inflating rapidly. People are coping by saying older vehicles are somehow better.
I feel like the 6th gen 4Runner is gonna be 65k to 75k after markups lol
Oh man, ain't that the truth!
The increase out paces inflation, but its hidden in option packages.
I paid $36,400 for a fully loaded 2016 TRD DC LB OR Tacoma ($47,848 today).
A comparably equipped 2025 is $58,349 (-$3,000 for Power tailgate/seats/heated steering/JBL stereo) = $55,349 ($42,150 in 2016 $$).
In 1999 I bought a brand new Limited for right around $37,000 USD. Then in 2016 I bought a 4Runner Trail Premium for just under $38,000. Then in 2022 I bought a new 4Runner TRD Off-Road premium (same as the '16 Trail Premium) for $48,000. So...There you go.
I wonder how they built up the inflation calculator; pickup truck prices over the years might have some weights in it.
The MSRP before options was $46,580 for my 2023 TRD ORP . Total sticker price $54,721.(New Nov. 2023) The MSRP for the 2025 TRD ORP (gas) is $54,970 and Hybrid $57,770. 😯
Now explain why the land cruiser is up to 20k cheaper in markets like Australia
Excellent, level headed review; Thank you!
Interesting your analysis, good content. For people in other markets than US and Canada there is another tiny detail we have to consider, money depreciation.
For example here in Mexico back in 2005 our exchange rate was 10.9 pesos x 1 dollar, nowadays it’s 20 pesos x 1 dollar, so yes car prices are way too different even considering all the factors you analyzed. And the worst part is that even the Tacoma is built here we don’t have better prices nor all the trims are offered in this market, just few of them. 😢
You're very correct about the cost of living being way different today. Hats off to that V8 4Runner there. I'm in a 19', that's paid for. Have no plans to buy anything new, anytime soon
What are you going to spend that toyota's check that they sent to you? 😂😂
Yeah, they're definitely paying me to say that the new trucks suck and the old ones are better, ya mouth breather.
Your 4th gen looks way better
Thanks!
however 55k in 2023 doesn't equate to 68 in 2024. We're mad because the previous gens, 2nd gen Tundra, 5th gen 4R, and 3rd gen Taco were so much cheaper compared to today.
The 2005 Tundra was not a viable US truck, the truck and bed was undersized. I purchased the 2007 when the truck became full size. Some buy the trucks by the bed size as that is really what a truck is.
i still have the window sticker for my 2005 sport edition 4runner with V8 and towing package and it was 32k new. thats probably mid 40's at least.
It’s not the price hike that concerns people it’s the quality. I’m sure people will pay the current price for the old school reliable Toyota. Greed got in the way.
they have released the price of the 25 tacomas. the configurators are also out on their website. some inventories show that its arriving last week of december so its here even though there are so many 24s that are on their website dealer lots. looks like they will stop 24 production and move to 25 soon.
hopefully they made some changes to any issues they found on the 24
Was the 25 pricing similar to 24?
Check out the msrp of a GX470. Starting at 43k in 2004, equivalent to almost 72k today.
Guaranteed the prices would be even more out of whack here in Canada. Where we’ve accepted taxes on our taxes.
Lot Lizards, lol. Love it. Hey try wearing a microphone to avoid the garage echo. Great video, Like others I won't be buying new. The 20 year old vehicles are still the best. Bonus, where I live in coastal BC they don't rust, plenty of winter rain instead of snow and salt.
Yep, key point is wages not rising as fast as inflation, so normal people are getting priced out of the market for both cars and housing. That can't last forever or society will collapse.
You did not compare the long-term expense of fuel for the new vs old trucks. 22mpg vs 16mpg, drive it 200000 miles, means you burn 12500gal of fuel in the old one. Times $4 per gallon equals $50000 of fuel. New one would only cost $36363 in fuel, which works out to $13637 less not to mention the lower environmental impact.
It's not just Toyota. It's everything.
Take into account dealer mark up
When you say the new trucks are cheaper. That might be true in regards to price. However, the materials Toyota is using to keep the prices down are cheaper, too. These trucks don't have metal bumpers anymore. Customers are complaining about hood flutter. To issues with the paint and the looseness of the glove box. I'm currently Lemon Lawing, my 2024 Tacoma. The day I picked up my new Toyota, I washed it. Found all kinds of flaws in the paint! It's pretty bad when you snag a microfiber towel on dirt embedded in the paint/clearcoat. Not only that, but a new vehicle shouldn't have to be clay-barred. Or need the use of a finish correction compound. I spent 10 hours trying to remedy the issue. With no avail! Took it back to the dealership the very next day. To make a long story, short. My Tacoma was at the dealer 9Xs for Toyota to fix it, and they failed. After the 6th attempt! I took it to a buddy's high-end hotrod shop's painter. To get his opinions! Plus, two other reputable autobody shops. All three said it needs repainted and clearcoated. To do the job right, it must be disassembled. I'm not going to let Toyota half-ass it. Maybe 2 or 3 months ago, I would have taken a different Tacoma, but not now. Because other issues appeared! One was an electronic, and the rest were cosmetic. I'm so sick of dealing with the BS. So, on Black Friday, I purchased a different brand new pickup truck. The last time my Tacoma was at the dealership. I had my father pick me up and take me home. When I was called to pick up the vehicle up. I trailered it home! It doesn't even have 1,800 miles on it yet. I figured it was time to embarrass the Toyota dealership. This is a bad optic for potential customers to see. Having a brand ne Tacoma being hauled to the dealer. Instead of driving it! They can try to explain that stuff to their customers......
Too sum things all up. Don't price over 52k for a well equipped mid size truck. That is about the price range for the average american and that 52k is after tax and out the door.
People are complaining a lot about Toyota and increased cost, but are not mentioning the increased cost of ALL the other manufacturers as well. They have all gone up in price. And they have all outpaced the increase in pay because Americans keep voting for Billionaires instead of sensible people who will raise minimum wages.
You're comparing new vehicles with 20 yr old vehicles that are still going strong with minimal wear.
If these news trucks and SUVs are doing the same come 2055, I'll buy you a beer sir 😂
I ain't taking that bet
@CanadianGearhead *2045. Math is a bit hard tonight 😆😆
When I am smuggling merchandise across state lines I like the new one. All other times I rock my 2007 v8 built out on 34 tires.
Although I'm a big Toyota fan! (also open-minded on other car brands) and I have to say
1 = Their new trucks and SUVs are complete overpriced junk that nobody's buying them! (because 70k-100k for a new Tacoma/Tundra with feature of falling-apart quickly) for that same money. I would buy the tried and true Toyota LC200!
2 = Also, many of LC300/LX600 owners in GCC countries (Saudi Arabia, UAE, Qatar, Kuwait ..etc) regret about that V35A (V6 TT) because of overheating and more complete engine failures that would spend their time and money on shops sadly, plus transmission failures on those LC300s!
3 = Plus, I really hate car payments that cost you same as a house mortgage, plus with corporate greed, government corruptions that not just on cars but on everything you imagine (especially US/Canada). that's my honest opinion about the new Toyota trucks!
your brother from Algeria. stay safe and take care of your good oldies!
Everything to today's world has increased in price which in turn effects MSRP on all vehicles. R&D, steel, computer chips, transportation, labor, fancy robotics and construction of new factories/assembly lines have all played an inflationary role. It's crazy to realize that a brand-new Tacoma MSRP is $100K, when you could have bought a new loaded up Tacoma in 2015 for $50K in Canada. Factoring in dealer greed also plays a role as well. Don't forget that older Toyota's did not have as many electronic gizmos on them when compared to new models. More complexity leads to more problems and repairs.
Chances are you will get a better out the door price on a new Toyota if you finance it. The business office gets a kickback when financing through a major bank. Purchase a new Toyota, make your first payment, then pay it off in full after that ASAP is something new buyer's might want to consider. This will also increase you credit rating as well.
New Toyota's do not have the same reliability and build quality when compared to their older models. Don't get me wrong, they are still better than most competitor brands, but Toyota durability/reliability is definitely not what it used to be.
Really makes you wonder and scratch your head to think what a new rumored to be coming Celica or MR2 are going to be priced at. IMHO, more than the average enthusiast can afford, that's for sure.
really hate that 2UZ-FE (4.7 non VVTi), it got knocked on my friends LandCruiser at about 80k miles, otherwise - I`d bought that car from him and that would have been my first car back in the days. That is certainly not reliability
I was about to say, if you adjust for inflation of the US dollar, the price increase is inline with inflation of the dollar give or take a couple hundred bucks.... But then you also ran the numbers as well so my point is moot.
How does a modern truck only tow 6000lbs???
Here the Toyota dealerships are stacked with 2024 Tacoma's and land cruisers they can't sell and after the 4Runner hype it will follow suite.
You should show median wage instead of average wage.
can u talk about the fj cruiser? pweety pweaaaseee?
Interesting take on Toyota truck models. First off I am biased having owned 10 Toyota vehicles among them a V6 4 Runner manual and a Tundra crew max before getting my 2024 Tacoma sport with 6 foot bed and automatic.
Toyota historically builds durable and reliable and tough vehicles to destroy. And when they screw up, they own up to it and they fix it. That has been my experience and why I am loyal to the brand..
EPA combined with crash and safety standards have severely tested truck design. They are supposed to be tough and durable but now as opposed to the past, they need to be incredibly fuel, efficient and light as possible. Two ideologies in direct conflict with each other. Now consider that a truck is an aerodynamic brick.
In short, the new Toyota trucks are dam impressive. I am not the least bit concerned that the new version of the Tacoma will be a fine vehicle for me for years to come.
As for the Tundra engine fiasco, which is what it is as stated before I have a little doubt Toyota will make good. Should it have happened in this day and age with the state of manufacturing technology and quality control processes definitely not. Somehow, I feel there is more to be revealed on the metallurgy of the Tundra engines. And possibly the oiling system..
Lastly, it’s no joke how inflation when factored into pricing and value is a real eye-opener.
I bought a gen 2 2018 tundra with the 5.7. I take it all day over the new ones
Toyota trucks have always been expensive. The 4Runner was never the "affordable option" vs other offerings, neither was the Tundra nor Tacoma. They were also never the "performance leader" in HP, tq, towing or any other metric you could imagine on a brand new vehicle. The whole deal was expected reliability as expressed through resale value. The old Toyotas lived up to the expectation pretty much across the board, the resale value came with it. The quality justified the relatively high price, AND there was usually a stripped down version available (in theory at least) that still kept the same "QDR" promise. Now we have the same QDR expectations, the same high prices, with fewer choices, no engine options, and major red flags on all the newly designed trucks. Since they all share one of two engines and the same transmissions, all of them are compromised. Some of the decisions are baffling: LC ground clearance, Tacoma without bump stops, no 2-door tundra, no V8 hybrid, front axles that break so that they don't break in a different way, but still leave you stranded, engine and transmission catastrophic failures. The real question is what went wrong?
Inflation which is completely man made. Also seems the new Toyota 4cyl turbo has the dependable of a new Jeep. I will stay with old tech
You automatically lose 10 points for watching 90 day fiancé
While I totally understand the logic etc...
And using American numbers and stuff and how you did this, but .... My 2019 Tacoma Sport premium with a tire & wheel pack, and the TRD performance exhaust was just under 39 grand Canadian.. the 2024 Tacoma Sport premium with no extras is just under 62 grand.. that's a 23 grand difference in 4.5 years.. anyway you slice it, that's a very large jump, compared to normal. What Toyota did was just make their vehicles on par price wise as the competition etc..
My ’24 4Runner off road premium was 57 and change MSRP when I ordered.. now Toyota says MSRP is just over 60.. and the ’25 version of it is 67 and change.. so a 7 to 10k price jump in one model year depending when you ordered...
5:20 bro you get more plastic on the new 1! The old 1 was QUALITY!!!!! They don’t make them like they use too!!!
That's for dang sure
The new ones look good but it’s kinda like a pig in a blanket with the new engine and all.
I just piad 3700 for a WJ jeep grand cherokee with the straight 6 and selec trac. I had one for 17 years before this.
unstoppable engine, unstoppable offroad, super comfortable inside. well maintained and probably 200k miles of life in it.
three thousand. seven hundred. dollars.
(mike drop).
a hundred grand for a truck....please. stoopid.
I had a WJ as well - great rig but reliability and build quality wasn't fantastic
Im glad im not the only one sick of all the channels soley focused on walking through lots and talming about the coming crash.
Your calculations are wrong. It should be based on the cost as a % of average income. Clearly the old trucks accounted for less.
That was the whole point of the video - it's a wage problem
Skip the fancy tech. I don't need 100000 hp and 2 billion ftlbs. Gimme 200hp and 35mpgs.
What is inflation? Where do these numbers come from? Who selects the variables to calculate inflation? Who controls the "money" (credit) supply? You trust central BANKSTERS?
what’re the odds of another roast my runner?🤔
They don't get enough views to be worth my time right now - might turn it into a livestream or something in the future? I dunno
Slim jims are fast and quiet😂
Wages didn't keep up with inflation. just sayin
Anyone want to buy a first gen V8 Tacoma? I mean Tundra.😂😂
New truck records were when and how you drive. Your at x location save the info for years. We don't share with the government then in the terms we do.share with the government... it's a game they play in the terms
Toyota has traded reliability for gimmicks and all Tacomas are now built in Mexico. Sad state of affairs for Toyota. Really wish they offered rugged bare bones (or just basic without all the cameras and spying) 70 Series or a basic Tacoma with a V6 and the old tried and true transmissions or if they wanted to, make a reliable 8 speed automatic for it (although I prefer shifting myself). Toyota has lost is way and it is relying on the fan base ignoring the big dent in reliability this huge shift in technology has brought.
Base model always priced cheap and normally an unicorn to find. Why don’t you compare Trd pro? I bought my Tacoma trd pro at 2018 for $52,000cad, the new one is almost doubled. Is that also inflation or greed? This video is either biased or pick and choose the variables to support your point. Plus, stop defending corporations like your family business, they aren’t worth it. They will happily screw you over.
I didn't include the TRD Pro because it didn't exist back then. If you think I'm defending corporations, give you head a shake - I literally explained why the new trucks suck compared to the old ones
Forget the prices, the new Toyotas are over styled and look terrible!
Based channel