AUTO

Toyota Motor North America Shares 2023 U.S. Sales Results, EV Plans

February 16, 2024

By the end of 2025, Toyota plans to have an electrified option available for every Toyota and Lexus vehicle in the U.S.
Toyota has 26 electric vehicles currently available, the most among any automaker.
Toyota’s electrified vehicle sales, including battery, hybrids, plug-ins and fuel cells, surged 30% and make up nearly one-third of total sales volume.

Exciting Toyota EV news! Marking a significant rebound in its operational performance, Toyota Motor North America (TMNA) has reported impressive year-end 2023 sales within the U.S. market. The automotive giant sold 2,248,477 vehicles, demonstrating a robust growth of 6.6% on a volume basis. This uptick in sales velocity also translated into a 7% increase on a daily selling rate (DSR) basis compared to the numbers from 2022.

Toyota Had a Strong Q4

Particularly noteworthy was the fourth quarter of 2023, in which TMNA saw a 15.4% rise in sales volume — an encouraging sign amid a competitive market environment. Furthermore, this positive trajectory was underscored by the December 2023 Toyota sales, which surged by 25.5% on a volume basis and an exceptional 30.3% on a DSR basis when measured against December of the preceding year.

These figures not only underscore TMNA’s resilience but also signal strong consumer confidence in Toyota electric vehicles and a potentially reviving automotive sector.

These impressive numbers are a reflection of the company’s ongoing commitment to customer satisfaction and its focus on developing innovative, high-quality vehicles. In 2023, TMNA launched several new Toyota electric vehicles including the all-new fully-electric Lexus LF-Z concept vehicle. The company also introduced new hybrid and plug-in hybrid options for the existing Toyota EV lineup.

Toyota’s Ongoing Efforts to Electrify Its Brand

Since 2021, TMNA has announced new investments nearing the staggering amount of $16 billion into U.S. manufacturing operations, underlining a strategic shift toward electrification in an effort to keep pace with evolving consumer demands. These substantial investments exhibit Toyota’s commitment to sustainable practices and a future-focused approach in the automotive industry.

“By the end of 2025, we plan to have an electrified option available for every Toyota and Lexus vehicle in the U.S.,” said Jack Hollis, executive vice president, sales, TMNA.

Additionally, the successful rollout of its digital retail platforms — Smartpath for Toyota and Monogram for Lexus — highlights TMNA’s adaptation to the digitalization trend and the growing consumer preference for online transactions. These platforms have significantly enhanced the car-buying experience when it comes to Toyota EVs, offering customers the convenience of exploring options, customizing their purchases, and even completing transactions remotely, embodying a modern blend of technology and tailored service.