Toyota bought a file variety of automobiles final month. Pure EV gross sales rose by 127% in November however nonetheless solely accounted for 1% of Toyota’s complete quantity.
Toyota has been arguably the largest laggard within the auto business’s shift to totally electrical automobiles.
The Japanese automaker has lobbied in opposition to stricter emissions guidelines for years. Recognized for being a pioneer in hybrid tech with the first-gen Prius launched in 1997, Toyota has refused to affix the transition.
After longtime Toyota chief Akio Toyoda stepped down earlier this 12 months, some anticipated to see the corporate flip issues round.
Regardless of Koji Sato, former Lexus chief branding officer, taking the reigns in April, Toyota’s greenwashing has largely stayed the identical. Regardless of most governments transferring towards an all-electric future, Toyota continues to push its hybrid technique, together with EVs, hybrids, and plug-in hybrids.
Due to this, the automaker is shedding floor in key markets like Thailand and Latin America. Though EV gross sales rose 127% in November, BEVs nonetheless solely account for 1% of Toyota’s complete quantity.
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Toyota EV gross sales rise in November, however hybrids dominate
Toyota bought 9,406 EVs in November (together with Lexus), up 126.8% over final 12 months. The automaker has now bought 95,220 EVs globally by the primary 11 months of the 12 months, up 413% YOY.
EV gross sales in Japan are lagging behind international markets. Toyota bought 186 electrical automobiles in its residence nation in November in comparison with 9,220 globally. In the meantime, hybrids proceed dominating Toyota’s total output.
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Toyota bought 322,463 hybrids in November, bringing the 2023 complete to three.1 million. That quantity is up almost 30% in comparison with this time final 12 months.
General gross sales reached 905,066, a brand new file. Toyota has now bought over 9.3 million automobiles this 12 months.
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Toyota credited the expansion to hybrids just like the RAV4 and Corolla in North America and Europe. Amid the expansion, Toyota is prone to maintain its title because the top-selling carmaker (for now).
Electrek’s Take
Regardless of hitting a brand new gross sales file in November, international EV gross sales additionally hit a brand new excessive. EV leaders like Tesla and BYD proceed gaining share in key international markets.
Tesla’s Mannequin Y is on observe to develop into the best-selling automobile globally (electrical or gasoline), overtaking the Toyota Corolla. How lengthy can Toyota depend on hybrids? EV gross sales are solely anticipated to proceed climbing as new fashions are launched and charging infrastructure continues increasing.
Analysis from BloombergNEF reveals “no signal of an EV slowdown” regardless of the latest damaging headlines.
World passenger EV gross sales are anticipated to succeed in 14 million this 12 months, up 36% from final 12 months. Within the US, gross sales are rising even sooner and are anticipated to develop 50% in 2023.
Though some automakers like Ford and GM have pushed again EV initiatives, others are doubling down, like Hyundai and Volvo.
These corporations count on to see EV demand proceed climbing with new electrical fashions just like the Volvo EX30, beginning at $35,000, hitting the market.
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