The Toyota Tacoma saw very few changes for 2004. The few new additions included the availability of Vehicle Stability Control and the Active TRAC control system in certain trims.

The 2004 Toyota Tacoma came in a wide variety of trims, including the Regular Cab 4WD, Xtracab 4WD, Xtracab V6 4WD, Double Cab V6 4WD, Regular Cab 2WD, PreRunner Regular Cab 2WD, Xtracab 2WD, PreRunner Xtracab 2WD, S-Runner Xtracab V6 2WD, PreRunner, Double Cab 2WD, PreRunner Xtracab V6 2WD, and the PreRunner Double Cab V6 2WD. The new Double Cab models offered four doors instead of two and extra room in the extended cab. The S Runner was the sporty model, offering a sport-tuned suspension. Fuel economy was about 17/20 mpg.

Drivers like the Tacoma because it's compact and good-looking, but still behaves like a truck. They also say it is very reliable and the 4WD performs well off-road and in the snow. Some complaints include a bumpy ride and a too-small bed.