Sales of all-electric and plug-in hybrid vehicles increased at a high rate.
Toyota Motor North America (Toyota and Lexus brands) reported that first quarter 2024 US vehicle sales rose 20% year over year to 565,098 units.
The Japanese manufacturer is also very rapidly increasing sales of electrified vehicles of all types — xEV (HEV, PHEV, BEV, FCEV). The range has recently expanded to 27 models.
Toyota accelerates electrification
In 2023, Toyota (including Lexus) sold over 54,000 plug-in electric cars in the US, including 14,715 all-electric and nearly 40,000 plug-in hybrids. This is a new record, although the company’s main focus is plug-in hybrids with over 600,000 sales.
In the first quarter, total xEV sales reached a new record of 206,850 vehicles (74% year-over-year growth). This is 36.6% of the total volume of the group.
Sales of electrified vehicle xEV (HEV, PHEV, BEV, FCEV) in Q1’2024:
- Toyota xEV: 177,778 (up 76%) and 36.5% share
- Lexus xEV: 29,072 (up 61%) and 37% share
- Total xEV: 206,850 (up 74%) and 36.6% share
Battery car sales are growing even faster (from a lower base). In the first quarter of 2024, the Toyota group sold 17,832 plug-in electric vehicles (94% year-on-year growth). Share of total volume improved to 3.2% (from 2.0% a year ago).
Sales of Plug-in cars in Q1’2024:
- Toyota plug-ins: 13,571 (67% growth) and 2.8% share
BEVs: 1,897 (12% growth) and 0.4% share
PHEV: 11,674 (up 82%) and 2.4% share - Lexus plug-ins: 4,261 (272% growth) and 5.4% share
BEV: 1,603 (up 766%) and 2% share
PHEV: 2,658 (177% increase) and 3.4% share - Total plugins: 17,832 (93%) and 3.2% share
BEVs: 3,500 (86% growth) and 0.6% share
PHEV: 14,332 (up 94%) and 2.5% share
* Toyota FCEV: 172 (down 74%) and 0.0% share
Sales of the group’s all-electric cars increased by 86% year-on-year to 3,500 units. This is a positive sign on the one hand, but the segment remains small with only a 0.6% share.
For reference, in 2023 the group sold 54,266 plug-in electric vehicles in the US (about 2.4% of its total volume). Sales of all-electric cars totaled 14,715, up 1,103% from 2022.
Sales of Plug-in cars in Q1-Q4’2023:
- Toyota plug-ins: 42,959 (up 36%) and 2.2% share
BEV: 9,329 (up 663%) and 0.5% share
PHEV: 33,630 (up 11%) and 1.7% share - Lexus Additions: 11,307 (up 222%) and 3.5% share
BEV: 5,386 (new) and 1.7% share
PHEV: 5,921 (up 69%) and 1.8% share - Total plugins: 54,266 (up 54%) and 2.4% share
BEV: 14,715 (up 1103%) and 0.7% share
PHEV: 39,551 (up 17%) and 1.8% share
* Toyota FCEV: 2,737 (up 31%) and 0.1% share
Models
In terms of models, the top performer in Q1 was the plug-in hybrid RAV4 Prime (7,767), followed by the new Toyota Prius Prime (3,907).
The all-electric Toyota bZ4X scored 1,897 units, while the Lexus RZ had 1,603 units. Including 1,147 Subaru Solterras, total sales of the three closely related cars totaled 4,647.
Meanwhile, Lexus just launched a new plug-in hybrid model, the TX PHEV, which started with 168 sales.
Model sales in Q1’2024:
- Toyota bZ4X: 1,897 (up 12%)
- Toyota Prius Prime: 3,907 (up 293%)
- Toyota RAV4 Prime: 7,767 (up 43%)
- Lexus NX 450h+: 1,408 (up 47%)
- Lexus RZ: 1,603 (up 766%)
- Lexus RX PHEV: 1082 (new)
- Lexus TX PHEV: 168 (new)
* The hydrogen Toyota Mirai scored 172 (down 74%).
Below we also attach the results for the entire year 2023.
Model sales in Q1-Q4’2023:
- Toyota bZ4X: 9,329 (up 663%)
- Toyota Prius Prime: 7,557 (down 36%)
- Toyota RAV4 Prime: 26,073 (up 40%)
- Lexus NX 450h+: 5,265 (with 50%)
- Lexus RZ: 5386 (new)
- Lexus RX PHEV: 656 (new)
* The hydrogen Toyota Mirai scored 2,737 units (up 31%).
Detailed sales results for Toyota electrified cars in the US:
