Though Toyota bZ4X gross sales practically doubled final yr, the auto large remains to be falling behind within the US EV market. Abroad rivals like Hyundai and Kia are lapping Toyota. Even different Japanese automakers, together with Honda and Nissan, are promoting extra EVs within the US than Toyota.
Toyota bZ4X gross sales lagged behind US EV rivals in 2024
Toyota boasted that its 2024 electrified car gross sales reached over 1 million within the US in 2024. Nevertheless, that’s primarily due to its hybrid fashions.
With simply 1,854 bZ4X fashions offered in December, Toyota’s 2024 whole reached 18,570. Though that quantity is up 99% from the 9,329 offered in 2023, it’s nonetheless far behind the competitors.
To place it in perspective, Honda, which started delivering its electrical Prologue final March, offered over 33,000 fashions final yr. In December, Honda offered practically 7,900 Prologues alone. Through the second half of 2024, Honda offered a mean of over 5,000 electrical SUVs monthly.
Nissan additionally outsold Toyota with practically 19,800 Ariya electrical SUVs offered final yr. Nissan’s decade-old LEAF secured one other 11,226 gross sales within the US in 2024, up 57% year-over-year.
Kia’s first three-row electrical SUV, the EV9, outsold the bZ4X final yr regardless of a +$10,000 larger MSRP. After deliveries started in late 2023, Kia offered over 22,000 EV9 fashions within the US final yr.
After setting new US gross sales data final yr, Hyundai and Kia are aggressively aiming for extra EV market share in 2025. Hyundai started manufacturing at its large new EV plant in Georgia, the place it would produce new EVs just like the upgraded 2025 IONIQ 5 and three-row IONIQ 9.
With Kia constructing EV9 fashions at its West Level plant and the Genesis Electrified GV70 in-built Alabama, Hyundai Motor has 5 EV fashions that qualify for the $7,500 federal tax credit score for the primary time, which ought to enhance demand additional.
Toyota slashed 2025 bZ4X costs by $6,000 to make it extra aggressive. Beginning at $37,070, the 2025 bZ4X undercuts the 2025 Hyundai IONIQ 5 ($42,500) and Nissan Ariya ($39,770).
Though Honda has but to launch 2025 Prologue costs, it’s anticipated to begin a lot larger. The 2024 Honda Prologue begins at $47,400.
Electrek’s Take
Like a number of others, Toyota pushed again main EV initiatives, together with its first three-row electrical SUV. The delay gave abroad rivals, like Hyundai and Kia, a possibility, which they gladly took benefit of.
Toyota additionally scrapped plans to construct new Lexus electrical SUVs in North America. As a substitute, the brand new Lexus EV fashions will probably be imported from Japan.
The corporate is getting ready to begin battery manufacturing at its new $13.9 billion facility in NC, which ought to assist ramp up EV gross sales. Within the first half of 2026, it would additionally start constructing the bigger electrical SUV at its Georgetown, Kentucky, plant.
The Japanese auto large remains to be promising superior new EV batteries are coming quickly with considerably extra vary and sooner charging at a decrease value. However when will they really hit the market?
Toyota has been vowing to launch new EV battery know-how for years. By 2027, the corporate plans to launch a pair of latest Efficiency and Popularized batteries, which can allow an almost 500-mile (800-km) WLTP vary. In 2028, Toyota plans to launch solid-state EV batteries with mass manufacturing in 2030.
Will it’s sufficient? Or is Toyota already too late to the social gathering? Tell us what you assume within the feedback beneath.
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