Toyota’s Electrified vehicle sales surge 30 percent

London, 04 January 2024, (Oilandgaspress): Toyota Motor North America (TMNA) reported year-end 2023 U.S.  sales of 2,248,477 vehicles, an increase of 6.6 percent on a volume basis and an increase of 7.0 percent on a daily selling rate (DSR) basis compared to 2022.

The company reported U.S. fourth quarter 2023 sales of 619,661 vehicles, an increase of 15.4 percent on a volume basis and an increase of 18.5 percent on a DSR basis compared to the fourth quarter of 2022. U.S. December 2023 sales totaled 226,116 vehicles, an increase of 25.5 percent on a volume basis and an increase of 30.3 percent on a DSR basis compared to December 2022.

“Toyota’s multi-pathway approach to electrification accelerated in 2023 with even more vehicle choices to meet our customer’s lifestyle and budget,” said Jack Hollis, executive vice president, Sales, TMNA. “Our teams are busy preparing for an outstanding 2024 to bring 22 new, refreshed or special edition vehicles to showrooms, including sedans and more electrified options to satisfy strong customer demand. By the end of 2025, we plan to have an electrified option available for every Toyota and Lexus vehicle in the U.S.”

2023 Highlights

Toyota Motor North America (TMNA)

• 26 total electrified vehicles currently available in dealerships between both the Toyota and Lexus brands, the most among any automaker
• 2023 electrified vehicle sales of 657,327 represent 29.2 percent of total sales volume
• Projected to be the number one seller of passenger vehicles for the 12^th consecutive year, and 20 of the last 21 years
• December sales up 25.5 percent on a volume basis
• December car division sales up 13.6 percent on a volume basis
• December truck division sales up 39.0 percent on a volume basis
• Fourth quarter sales up 15.4 percent on a volume basis
• Fourth quarter car division sales up 8.5 percent on a volume basis
• Fourth quarter truck sales up 18.4 percent on a volume basis
• Fourth quarter electrified vehicle sales up 60.9 percent on a volume basis
• Since 2021, TMNA has announced new investments of nearly $16 billion into its U.S. manufacturing operations to support electrification efforts to meet customer demand
• Continued successful rollout of its digital retail platforms, Smartpath for Toyota and Monogram for Lexus
• Lowest incentives among full-line manufacturers

Toyota Division:

• 2023 electrified vehicles sales of 565,800 represent 29.3 percent of total sales volume
• Projected to be the number one retail brand for the 12^th consecutive year
• December sales up 17.7 percent on a volume basis
• December car sales up 14.1 percent on a volume basis
• December truck sales up 19.3 percent on a volume basis
• December electrified vehicle sales up 59.4 percent on a volume basis
• Fourth quarter division sales up 9.9 percent on a volume basis
• Fourth quarter car sales up 9.0 percent on a volume basis
• Fourth quarter SUV sales up 17.7 percent on a volume basis
• Fourth quarter truck sales up 10.3 percent on a volume basis
• Fourth quarter electrified vehicle sales up 56.4 percent on a volume basis
• Corolla projected to be the number one compact car in America
• Camry number one passenger car in America for the 22^nd consecutive year
• Tacoma number one small pickup in America for the 19^th consecutive year
• RAV4 best-selling SUV in the U.S. for 8^th consecutive year
• All-time best-ever year for:
  • GR Corolla
  • Corolla Hybrid
  • Corolla Cross
  • Mirai
  • bZ4X
  • RAV4 Hybrid
  • Sequoia
  • Tundra Hybrid

Lexus Division:

• 2023 electrified vehicles sales of 91,527 represent 28.6 percent of total sales volume

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