Toyota Motor North America reported that its second-quarter automobile gross sales elevated 9% year-over-year for 2024, for a complete of 621,549 items. This was achieved largely thanks the hovering electrified automobile gross sales.
The Japanese producer at the moment presents 29 electrified fashions—together with hybrids, plug-in hybrids, EVs and a fuel-cell electrical automobile—two greater than it did final quarter. In Q2, Toyota bought 247,347 electrified automobiles (up 63% year-over-year), representing almost 40% of the group’s whole quantity.
Toyota’s EV Development
In 2023, Toyota and Lexus bought 14,715 all-electric vehicles within the U.S. This 12 months, the manufacturers have already bought 15,107 EVs, so the full-year determine ought to be approach greater than final 12 months.
Electrified automobile gross sales in Q2 2024:
- Toyota: 215,410 (up 68%), 40.4% share of general gross sales
- Lexus: 31,937 (up 35%), 36% share of general gross sales
- Whole: 247,347 (up 63%), 39.8% share of general gross sales
Our focus is on plug-in automobiles—each EVs and PHEVs—and that seems to be the fastest-growing phase in Toyota’s gross sales breakout.
In Q2 2024, the Toyota group bought 24,266 plug-in electrical vehicles, 112% greater than a 12 months in the past. That represented 3.9% of the corporate’s whole quantity, up from 2.0% a 12 months in the past.
The Toyota model famous 17,589 plug-in gross sales (up 91% year-over-year), whereas Lexus tripled its quantity to six,677 (up by 194%).
Plug-in automotive gross sales in Q2 2024:
- Toyota plug-ins: 17,589 (up 91%) and three.3% share
BEVs: 7,571 (up 286%) and 1.4% share
PHEVs: 10,018 (up 39%) and 1.9% share - Lexus plug-ins: 6,677 (up 194%) and seven.5% share
BEVs: 4,036 (up 333%) and 4.5% share
PHEVs: 2,641 (up 97%) and three% share - Whole plug-ins: 24,266 (up 112%) and three.9% share
BEVs: 11,607 (up 301%) and 1.9% share
PHEVs: 12,659 (up 48%) and a couple of% share
* Toyota FCEVs: 73 (down 93%) and 0.0% share
The group’s all-electric automotive gross sales elevated by 301% year-over-year to 11,607 items. This obliterated the earlier file. Furthermore, for the primary time in historical past, 1.9% of all Toyota Motor North America gross sales had been all-electric, in comparison with simply 0.5% a 12 months in the past.
Toyota has undoubtedly stepped on the accelerator relating to all-electric vehicles, as their gross sales nearly matched PHEV gross sales at 12,659.
To date this 12 months, the group bought 42,098 plug-ins, double what number of it bought within the first half of 2023. Rechargeable vehicles signify 3.5% of the general gross sales quantity (in comparison with 2.0% within the first half of 2023).
It is price noting that all-electric automotive gross sales amounted to fifteen,107, over thrice greater than a 12 months in the past. That is already greater than within the entirety of 2023.
Plug-in automotive gross sales in Q1-Q2’2024:
- Toyota plug-ins: 31,160 (up 80%) and three.1% share
BEVs: 9,468 (up 159%) and 0.9% share
PHEVs: 21,692 (up 59%) and a couple of.1% share - Lexus plug-ins: 10,938 (up 220%) and 6.5% share
BEVs: 5,639 (up 405%) and three.4% share
PHEVs: 5,299 (up 131%) and three.2% share - Whole plug-ins: 42,098 (up 103%) and three.5% share
BEVs: 15,107 (up 216%) and 1.3% share
PHEVs: 26,991 (up 69%) and a couple of.3% share
* Toyota FCEVs: 245 (down 86%) and 0.0% share
For reference, in 2023, the group bought 54,266 plug-in electrical automobiles within the U.S. (about 2.4% of its whole quantity). All-electric automotive gross sales amounted to 14,715 (up from 1,223 in 2022).
Fashions
By way of fashions, the highest one in Q2 was the plug-in hybrid RAV4 Prime (9,307). Nonetheless, the largest shock was the all-electric duo—Toyota bZ4X and Lexus RZ—with 7,571 items and 4,036 items, respectively, for a complete of 11,607 gross sales.
This large surge in Toyota and Lexus EV gross sales was doable due to engaging lease offers. The heavy incentive scheme helped Toyota transfer 4,958 bZ4Xs in April alone.
Mannequin gross sales in Q2, 2024:
- Toyota bZ4X: 7,571 (up 286%)
- Toyota Prius Prime: 711 (down 57%)
- Toyota RAV4 Prime: 9,307 (up 68%)
- Lexus NX 450h+: 1,727 (up 29%)
- Lexus RZ: 4,036 (up 333%)
- Lexus RX PHEV: 702 (new)
- Lexus TX PHEV: 212 (new)
* The hydrogen Toyota Mirai famous 73 (down 93%).
To date this 12 months, Toyota already bought extra bZ4X than in all of 2023 (9,329). The identical is true for the Lexus RZ (5,639 vs. 5,386). It will likely be fascinating to see whether or not the Japanese producer will proceed to push EVs for the remainder of the 12 months.
The plug-in hybrid Toyota RAV4 Prime additionally did effectively, promoting a record-setting 17,074 items within the first half of 2024..
Mannequin gross sales within the first half of 2024:
- Toyota bZ4X: 9,468 (up 159%)
- Toyota Prius Prime: 4,618 (up 73%)
- Toyota RAV4 Prime: 17,074 (up 56%)
- Lexus NX 450h+: 3,135 (up 36%)
- Lexus RZ: 5,639 (up 405%)
- Lexus RX PHEV: 1,784 (new)
- Lexus TX PHEV: 380 (new)
* The hydrogen Toyota Mirai famous 245 (down 86%).
Detailed gross sales outcomes of Toyota electrified vehicles within the U.S.:
