The very fact Toyota is transferring too slowly towards electrification has been acknowledged by the automaker itself, which has pledged to alter that beneath the brand new management.
However there’s one other indicator, a extra correct one, that exhibits how Toyota is shedding prospects to different manufacturers due to the dearth of selections it presents to EV patrons. A latest report from used automotive retailer CarMax (through Jalopnik) exhibits that Toyota was probably the most traded in model for used EVs in america from September 1, 2022 to February 28, 2023.
Utilizing information from CarMax transactions, the report revealed that 12 p.c of autos traded in for used EVs had been Toyotas, marking the second straight 12 months Toyota has held the place. The quantity two spot was a tie between Ford and BMW with 8 p.c, whereas Honda took third place with 7 p.c.
Knowledge present that the most typical trade-in for the Tesla Mannequin 3, the most well-liked EV at CarMax through the interval, was the Honda Civic and the second most typical was the Toyota Tacoma.
For customers shopping for a Nissan Leaf – the third hottest EV at CarMax from this information reporting – the most typical trade-in was a Toyota Prius. That is clear signal that Toyota homeowners are making the shift to battery electrical autos greater than homeowners of different manufacturers, however why is that?
![2017 Toyota Prius Prime: First Drive](https://cdn.motor1.com/images/static/16x9-tr.png)
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One apparent reply might be that there are extra Toyota passenger vehicles on US roads than Fords and BMWs, so it is solely pure that the model dominates on this space as nicely.
There’s additionally the very fact Toyota has attracted many eco-conscious patrons ever because it launched the Prius hybrid in 2000 adopted by many hybrid and plug-in hybrid variants of its best-selling fashions.
The difficulty for Toyota is that these patrons are actually trying to improve to a battery electrical automobile, and the Japanese model’s solely providing on this phase, the bZ4X SUV, is a reasonably underwhelming product. Moreover, the used EV marketplace for Toyotas is nearly non-existent.
The CarMax report additionally says that search quantity for EVs has doubled within the final 12 months, pushed by larger fuel costs all through america. SUVs had been the most typical trade-in for EVs, making up 40 p.c of autos that patrons depart on the lot, whereas sedans and coupes accounted for 29 p.c of trade-ins for EVs; luxurious autos got here in third at 17 p.c.
The highest 5 used EV fashions that had been bought via CarMax had been the Tesla Mannequin 3, Tesla Mannequin Y, Nissan Leaf, Ford Mustang Mach-E, and Chevrolet Bolt EV.