Toyota U.S. EV Gross sales Quadrupled In Q2 2024, Setting New Report

Toyota Motor North America reported that its second-quarter automobile gross sales elevated 9% year-over-year for 2024, for a complete of 621,549 models. This was achieved largely thanks the hovering electrified automobile gross sales.

The Japanese producer presently provides 29 electrified fashions—together with hybrids, plug-in hybrids, EVs and a fuel-cell electrical automobile—two greater than it did final quarter. In Q2, Toyota bought 247,347 electrified automobiles (up 63% year-over-year), representing almost 40% of the group’s complete quantity.

Electrified automobile gross sales in Q2 2024:

• Toyota: 215,410 (up 68%), 40.4% share of general gross sales
• Lexus: 31,937 (up 35%), 36% share of general gross sales
• Complete: 247,347 (up 63%), 39.8% share of general gross sales

Our focus is on plug-in automobiles—each EVs and PHEVs—and that seems to be the fastest-growing section in Toyota’s gross sales breakout.

In Q2 2024, the Toyota group bought 24,266 plug-in electrical automobiles, 112% greater than a yr in the past. That represented 3.9% of the corporate’s complete quantity, up from 2.0% a yr in the past.

The Toyota model famous 17,589 plug-in gross sales (up 91% year-over-year), whereas Lexus tripled its quantity to six,677 (up by 194%).

Plug-in automobile gross sales in Q2 2024:

• Toyota plug-ins: 17,589 (up 91%) and three.3% share
  BEVs: 7,571 (up 286%) and 1.4% share
  PHEVs: 10,018 (up 39%) and 1.9% share
• Lexus plug-ins: 6,677 (up 194%) and seven.5% share
  BEVs: 4,036 (up 333%) and 4.5% share
  PHEVs: 2,641 (up 97%) and three% share
• Complete plug-ins: 24,266 (up 112%) and three.9% share
  BEVs: 11,607 (up 301%) and 1.9% share
  PHEVs: 12,659 (up 48%) and a couple of% share

* Toyota FCEVs: 73 (down 93%) and 0.0% share

The group’s all-electric automobile gross sales elevated by 301% year-over-year to 11,607 models. This obliterated the earlier report. Furthermore, for the primary time in historical past, 1.9% of all Toyota Motor North America gross sales had been all-electric, in comparison with simply 0.5% a yr in the past.

Toyota has undoubtedly stepped on the accelerator in the case of all-electric automobiles, as their gross sales virtually matched PHEV gross sales at 12,659.

To date this yr, the group bought 42,098 plug-ins, double what number of it bought within the first half of 2023. Rechargeable automobiles symbolize 3.5% of the general gross sales quantity (in comparison with 2.0% within the first half of 2023).

It is price noting that all-electric automobile gross sales amounted to fifteen,107, over thrice greater than a yr in the past. That is already greater than within the entirety of 2023.

Plug-in automobile gross sales in Q1-Q2’2024:

• Toyota plug-ins: 31,160 (up 80%) and three.1% share
  BEVs: 9,468 (up 159%) and 0.9% share
  PHEVs: 21,692 (up 59%) and a couple of.1% share
• Lexus plug-ins: 10,938 (up 220%) and 6.5% share
  BEVs: 5,639 (up 405%) and three.4% share
  PHEVs: 5,299 (up 131%) and three.2% share
• Complete plug-ins: 42,098 (up 103%) and three.5% share
  BEVs: 15,107 (up 216%) and 1.3% share
  PHEVs: 26,991 (up 69%) and a couple of.3% share

* Toyota FCEVs: 245 (down 86%) and 0.0% share

For reference, in 2023, the group bought 54,266 plug-in electrical automobiles within the U.S. (about 2.4% of its complete quantity). All-electric automobile gross sales amounted to 14,715 (up from 1,223 in 2022).

Fashions

By way of fashions, the highest one in Q2 was the plug-in hybrid RAV4 Prime (9,307). Nevertheless, the most important shock was the all-electric duo—Toyota bZ4X and Lexus RZ—with 7,571 models and 4,036 models, respectively, for a complete of 11,607 gross sales.

This huge surge in Toyota and Lexus EV gross sales was doable because of engaging lease offers. The heavy incentive scheme helped Toyota transfer 4,958 bZ4Xs in April alone.

Mannequin gross sales in Q2, 2024:

• Toyota bZ4X: 7,571 (up 286%)
• Toyota Prius Prime: 711 (down 57%)
• Toyota RAV4 Prime: 9,307 (up 68%)
• Lexus NX 450h+: 1,727 (up 29%)
• Lexus RZ: 4,036 (up 333%)
• Lexus RX PHEV: 702 (new)
• Lexus TX PHEV: 212 (new)

* The hydrogen Toyota Mirai famous 73 (down 93%).

To date this yr, Toyota already bought extra bZ4X than in all of 2023 (9,329). The identical is true for the Lexus RZ (5,639 vs. 5,386). It is going to be fascinating to see whether or not the Japanese producer will proceed to push EVs for the remainder of the yr.

The plug-in hybrid Toyota RAV4 Prime additionally did nicely, promoting a record-setting 17,074 models within the first half of 2024..

Mannequin gross sales within the first half of 2024:

• Toyota bZ4X: 9,468 (up 159%)
• Toyota Prius Prime: 4,618 (up 73%)
• Toyota RAV4 Prime: 17,074 (up 56%)
• Lexus NX 450h+: 3,135 (up 36%)
• Lexus RZ: 5,639 (up 405%)
• Lexus RX PHEV: 1,784 (new)
• Lexus TX PHEV: 380 (new)

* The hydrogen Toyota Mirai famous 245 (down 86%).

Detailed gross sales outcomes of Toyota electrified automobiles within the U.S.: