In the first quarter of 2024, Toyota’s U.S. plug-in car sales nearly doubled

Toyota U.S. Plug-In Car Sales Almost Doubled In Q1 2024

Toyota Motor North America (Toyota and Lexus brands) has reported a 20% year-over-year increase in vehicle sales in the United States during the first quarter of 2024, reaching a total of 565,098 units.

The company is aggressively pushing sales of electrified vehicles of all types (xEVs – including HEV, PHEV, BEV, FCEV), with an expanded lineup of 27 models. In 2023, Toyota (including Lexus) sold over 54,000 plug-in Electric cars in the U.S., including 14,715 all-electric and almost 40,000 plug-in hybrids. The company’s main focus remains on non-rechargeable hybrids, with over 600,000 sales.

In the first quarter of 2024, the total xEV sales hit a new record of 206,850 vehicles, a 74% year-over-year increase, accounting for 36.6% of the overall sales volume. Specifically, sales for electrified vehicles (HEV, PHEV, BEV, FCEV) in the first quarter of 2024 were as follows:

– Toyota xEV: 177,778 units (up 76%) with a 36.5% share
– Lexus xEV: 29,072 units (up 61%) with a 37% share
– Total xEV: 206,850 units (up 74%) with a 36.6% share

Moreover, sales of rechargeable cars are growing even faster, with the Toyota group selling 17,832 plug-in electric cars in the first quarter of 2024, marking a 94% year-over-year increase. The share out of the total volume increased to 3.2% (up from 2.0% a year ago).

The group’s all-electric car sales also surged by 86% year-over-year to 3,500 units, though this segment remains small at just a 0.6% share.

In terms of specific models, the top performers in Q1 of 2024 were the plug-in hybrid RAV4 Prime (7,767 units) and the new Toyota Prius Prime (3,907 units). The all-electric Toyota bZ4X and the Lexus RZ also showed strong sales numbers.

For reference, in 2023, the group sold 54,266 plug-in Electric vehicles in the U.S., representing about 2.4% of its total volume. All-electric car sales saw a significant increase to 14,715 units, marking a 1,103% growth from 2022.

For a detailed breakdown of model sales and a comparison with the full-year 2023 results, please refer to the attached images and information provided.