Toyota’s Risky Bet on Large Hybrid Vehicles Is Paying Off

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By Car Brand Experts


Noteworthy Points

  • Toyota’s broad strategy for electrification including hybrid, gasoline, and electric cars is proving successful with robust sales figures.
  • Toyota and Lexus combined provide a total of 29 electrified choices, surpassing all other car manufacturers.
  • Several vehicles in Toyota and Lexus lineups attained record sales in June.


When Toyota opted not to fully focus on Electric Vehicles (EVs) and instead continued with gas and hybrid engines, it was deemed a risky move. Despite facing criticism, Chairman Akio Toyoda remained steadfast in his decision to explore multiple avenues towards achieving carbon neutrality. His rationale was that there are varied solutions, and consumers must decide which path suits them best.


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Toyota

Toyota is a Japanese car manufacturer established in 1937 known for its trusted reputation across various sectors, ranging from performance cars and sedans to pickups and off-road vehicles. Notable models from the brand include Hilux, Land Cruiser, Camry, Crown, and Corolla, with the latter being the top-selling vehicle nameplate globally, with over 50 million Corolla-branded units sold since its introduction. Toyota typically competes in the mainstream market but is also recognized for introducing Lexus as a luxury brand to compete against Mercedes-Benz.

Established
August 28, 1937

Founder
Kiichiro Toyoda

Headquarters
Aichi, Japan

Owned By
Publicly Traded

Current CEO
Koji Sato

It seems that his choice is proving fruitful as Toyota has shown strong sales performance in the first half of this year. Together, Toyota and Lexus provide 29 electrified alternatives, more than any other carmaker. Keep in mind that electrified doesn’t simply refer to EVs; it also encompasses hybrid and plug-in hybrid vehicles.

2024 Toyota bZ4X
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Toyota


Impressive Sales Figures Across Various Vehicles

In general, Toyota recorded a 9.2 percent surge in the second quarter and a 14.7 percent increase in the first six months. For June, sales of electrified vehicles soared by 69.8 percent, constituting 45.3 percent of the brand’s total sales volume.


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Several Toyota models achieved their highest June sales.figures accompanying the entirely electric bZ4x, in addition to the hybrid Camry, Corolla, Corolla Cross, Grand Highlander, and Tundra. Also on the roster were several gasoline vehicles, such as the Sequoia and Crown, underscoring the brand’s emphasis on a diverse range of powertrain choices.

2024 Lexus TX
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Lexus

At Lexus, A Parallel Narrative

Lexus, too, had positive news to share. It recorded an uptick of 9.3 percent in the second quarter and 11.9 percent in the first half of the year. Sales of its electrified vehicles surged by 33.7 percent in June, constituting 35.9 percent of its total sales volume.


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June saw record sales for Lexus vehicles, including the hybrid ES, NX, RX, and TX, plug-in hybrid NX, RX, and TX, the all-electric RZ, and the gasoline TX. Analogous to Toyota, no single powertrain reigned supreme in sales. Offering consumers a variety of car models and powertrain options to suit their preferences is evidently a successful sales approach.

2024 Lexus RZ
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Lexus

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