Once again, the Tacoma has been recognized for leading the mid-size truck segment in resale value. According to the Automotive Leasing Guide (ALG), the Tacoma is a Residual Value Award winner.

The Tacoma is unique in that it has won an ALG resale award every year since 2000, a strong indicator of the Tacoma’s excellent value, reliability, and durability. After all, resale value awards tend to go to vehicles with good quality ratings – it’s no coincidence that the top-rated brands in the JD Power quality studies, Consumer Reports reliability studies, etc. are also top-rated brands in terms of resale value.

But there’s another side to this issue – it’s not just about the Tacoma’s quality and reliability. It’s also about Toyota’s limited production capacity. Take a look at this Toyota truck sales chart from October, 2014:

At first blush, it seems Tacoma sales are “down” nearly 5% year over year. However, when you look at total Tundra and Tacoma production (highlighted in yellow), Toyota has sold 0.1% more trucks in 2014 (thru October) than they did in 2013.

That’s a heck of a coincidence, isn’t it? Sales in 2014 being nearly identical to sales in 2013?

OK. You caught me. It’s not a coincidence. Toyota builds the Tundra and Tacoma at the same plant (TMMTX in San Antonio), and they’re running that plant at full speed. Tacoma sales are “down”, but only because Toyota has decreased Tacoma sales to allow for more production of the Tundra. It’s evidence that Toyota is production constrained, and that they’re probably not selling as many Tacomas as they could be.

When the market for a new vehicle is “tight” due to insufficient production, resale values are generally strong.