The Japanese automaker is genuinely canvassing the idea of a RAV4-based pickup.It seems the wild rumors about a Toyota RAV4-based compact pickup truck aren't as wild as everyone thought. In a recent development, more regional Toyota executives and even the RAV4's chief engineer acknowledged that such a prospect is most certainly under consideration.However, Toyota Australia exec, Yoshinori Futonagane, recently told Australia's Drive that while they see the demand for such a vehicle, there's no concrete plans for it. At least, for now.AdvertisementAdvertisementBut the prospect has been prioritized on Toyota's list of new vehicles to consider.A car-based RAV4 pickup is piquing interest all overIt seems the idea of a RAV4-based pickup isn't as wild as everyone initially thought. - Credit: ToyotaIt was just last month when journalists heard Toyota North America chief, Tetsuo Ogawa, expressing interest in building a new, smaller and more affordable pickup truck below the ultra-popular Tacoma. Not only would it answer the increasing demand for such a vehicle.It would also further Toyota's reputation and dominance in the smaller, open-bed space.But Ogawa stopped short of confirming such a project. Rather, he just openly admitted that he and his team are exploring options and considering the possibility."For the compact truck? Definitely, we have such demand," Ogawa originally told media last month. Even one based on the RAV4.While Toyota said there's "no official plans," execs reportedly prioritized the concept on the list of future vehicles to consider. - Credit: Toyota"A RAV4-based pickup is an opportunity for us, and the dealers are waiting," Ogawa continued. "Maybe they say we need today or tomorrow, but it takes time."AdvertisementAdvertisementBut Futonagane slightly countered, by saying that there are currently "no official plans," despite acknowledging strong interest in it."I admit, you're quite right. The market for a monocoque pickup truck is quite appealing," Furonagane recently told Drive. "There are no official plans or anything to do with developing a monocoque pickup. But deep in our heart of hearts, we all think, wouldn't that be fun?""A monocoque pickup truck is quite appealing"Both Toyota and small pickup fans have been clamoring for a more affordable and smaller option. - Credit: ToyotaAlthough this a very small and incremental update, going from pitching the idea to actively exploring the concept while admitting there's plenty of demand for it are still noteworthy steps. New vehicle ideas need to be backed by a substantial business case for them to become a reality.Demand is the largest determining factor. From there, automakers can decide whether it's worth the investment to build said model and if the ROI exists.With today's midsize pickups being as big as some older full-size models, demand for smaller compact ones has grown exponentially. - Credit: ToyotaWith Ford dominating the small pickup segment in America with the Maverick and Slate slowly moving closer to becoming a production reality, Toyota most certainly sees the writing on the wall.AdvertisementAdvertisementIf a small, RAV4-based pickup comes to fruition, it'll likely ride on the same GA-K modular platform. It's the same underpinnings as the Camry and the Highlander.What would give Toyota the competitive edge, however, is if the brand includes the plug-in hybrid RAV4's powertrain. The Ford Maverick does come in hybrid form, but not with plug-in capabilites.About the Author: Chris Chin is an associate editor at Gear Patrol, covering cars, trucks and anything else with four wheels. He has over a decade of experience writing news and reviews but considers himself an enthusiast first, with a passion for classics and European cars. His daily driver is a 1987 Mercedes-Benz 560SEL with nearly 250,000 miles (87,000 are his).Want to stay up to date on the latest product news and releases? Add Gear Patrol as a preferred source to ensure our independent journalism makes it to the top of your Google search results.