Toyota has been the leader in small, and now midsize, trucks for many years now. Even the aged previous-generation Tacoma managed to hold the crown in the face of new and improved competition. But ever since Toyota launched its updated, four-cylinder-only Tacoma model, it’s becoming an even bigger runaway success. This year is looking to keep building on the momentum with huge increases. But it’s not the only one with exploding sales. A couple of other Toyota models are having a wildly successful 2024 so far, and we’ve rounded them up for this look at the company’s quarterly highlights.
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
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August 28, 1937
- Founder
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Kiichiro Toyoda
- Headquarters
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Aichi, Japan
- Owned By
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Publicly Traded
- Current CEO
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Koji Sato
A Tacoma Takeover
The new Tacoma has been on sale for a little more than a year now, but sales aren’t slowing down. In this quarter, Toyota sold 59,825 examples. That’s an incredible increase of 177.5% over the first quarter of last year. And unlike at least one other large percentage increase we’ll look at, this is for an already major seller. The interest is all in the Tacoma, too, as the Tundra is actually down by 1.8% for the quarter. Toyota didn’t share any details about how the sales are split between hybrid and non-hybrid models, but the availability of the hybrid Tacoma surely contributed somewhat to Toyota’s overall increase in electrified vehicle sales by 44.1%. Though the other vehicles in this round-up certainly did, too.
People Love Land Cruisers And Land Cruiser-Like SUVs
Probably the most legendary name in Toyota’s history, the Land Cruiser continues to be a strong draw for buyers, even when they’ve been downsized. The American Land Cruiser and Lexus GX twin both had a great quarter. The Land Cruiser wasn’t on sale this time last year, but the Lexus GX had. The GX was up this quarter by 139.5%, moving 9,239 units. Clearly, customers weren’t too upset about the SUV moving to a twin-turbo V6 hybrid instead of a naturally aspirated V8. Similarly, customers don’t seem too bothered that the American Land Cruiser is now the smaller Prado variant, which is also available with a hybrid four-cylinder. It sold 15,416 units this quarter.
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The Big Surprise
Despite the huge growth for these Toyota off-roaders, a very different model actually saw the largest increase by percentage. The Toyota bZ4X saw an increase in sales by 195.7% year-to-year. In the grand scheme of things, it still didn’t sell in huge numbers at 5,610 units, but a nearly three-fold increase in sales is amazing. A big driver of the sales increase was probably Toyota’s big price reduction. The company knocked around $6,000 off the base price at the end of last year. Sales could track even higher as the year goes on if Toyota manages to launch its updated version with more power, more range, and better charging this year.
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