Key Takeaways
- Toyota’s diverse approach to electrification with hybrid, gas, and electric vehicles is paying off with strong sales.
- Together, Toyota and Lexus offer 29 electrified options, which is more than any other automaker.
- It was a best-ever sales month in June for numerous vehicles in the Toyota and Lexus lineups.
Toyota took something of a gamble when it decided not to go all-in on EVs and kick gas and hybrid engines to the curb. Despite criticism, Chairman Akio Toyoda held firm in his commitment to pursing multiple options on the path to carbon neutrality. He reasoned that there was more than one solution and that buyers needed to make the choice about which was the right one.
Toyota
Toyota is a Japanese automaker founded in 1937 that has developed a reputation for reliability across a multitude of segments, from sports cars and family sedans to pickup trucks and off-roaders. Famous models from the brand include the Hilux, Land Cruiser, Camry, Crown, and Corolla, the latter being the world’s best-selling vehicle nameplate, with more than 50 million Corolla-badged vehicles being sold since it was first introduced. Toyota typically competes in the mainstream market, but is also famous for launching Lexus as a luxury sub-brand to take on Mercedes-Benz.
- Founded
- August 28, 1937
- Founder
- Kiichiro Toyoda
- Headquarters
- Aichi, Japan
- Owned By
- Publicly Traded
- Current CEO
- Koji Sato
Looks like his decision is paying off with Toyota posting strong sales results over the first half of the year. Together, Toyota and Lexus offer 29 electrified options, which is more than any other automaker. Note that electrified doesn’t mean just EVs. It also includes both hybrid and plug-in hybrid vehicles.
Strong Sales For Multiple Vehicles
Overall, Toyota posted an increase of 9.2 percent for the second quarter of the year and an increase of 14.7 percent for the first six months. In June, electrified vehicle sales were up 69.8 percent and represented 45.3 percent of the brand’s total sales volume.
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Many Toyota models had their best June sales numbers ever including the fully-electric bZ4x along with the hybrid Camry, Corolla, Corolla Cross, Grand Highlander, and Tundra. Several gas vehicles were also on that list, including the Sequoia and Crown, showing how important it was for the brand to have a mix of powertrain options.
A Similar Story At Lexus
On the Lexus side of things, the news was also good. It posted an increase of 9.3 percent for the second quarter and 11.9 percent for the first six months. Its June electrified vehicle sales were up 33.7 percent and represented 35.9 percent of its sales volume.
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Best-ever June sales for Lexus models included the hybrid ES, NX, RX, and TX, plug-in hybrid NX, RX, and TX, the all-electric RZ, and the gas TX. Much like Toyota, no one powertrain dominated the sales figures. Giving customers the ability to choose the right car and the right powertrain to fit their needs is proving a winning sales strategy.
#Toyotas #Big #Hybrid #Gamble #Paying
