Auto gross sales numbers in October 2024 are in and Toyota, together with its luxurious division, Lexus, posted optimistic general gross sales throughout the first ten months of the 12 months. Toyota Motor North America (TMNA) has bought a complete of 1,915,448 models from January to October 2024, up by 5% in comparison with the identical interval final 12 months. The optimistic gross sales efficiency will be attributed to Toyota’s hybrid choices, registering vital gross sales hikes.
Toyota is a Japanese automaker based in 1937 that has developed a popularity for reliability throughout a mess of segments, from sports activities vehicles and household sedans to pickup vans and off-roaders. Well-known fashions from the model embody the Hilux, Land Cruiser, Camry, Crown, and Corolla, the latter being the world’s best-selling car nameplate, with greater than 50 million Corolla-badged autos being bought because it was first launched. Toyota usually competes within the mainstream market, however can be well-known for launching Lexus as a luxurious sub-brand to tackle Mercedes-Benz.
Based August 28, 1937
Founder Kiichiro Toyoda
Headquarters Aichi, Japan
Owned By Publicly Traded
Present CEO Koji Sato
Based in 1989, Lexus is a premium automaker created by Toyota as a rival to Mercedes-Benz and BMW. Its first mannequin, the Lexus LS, turned famend as a real S-Class rival at a fraction of the associated fee and is named some of the dependable vehicles on the planet. Subsequent fashions from the model have achieved equal fame, together with the IS, RX, and LX. With world gross sales of 824,258 vehicles in 2023, Lexus has turn out to be a main instance of how a start-up can enter the premium house and succeed, one thing few rivals have managed since.
Based 1989
Founder Eiji Toyoda, Toyota
Headquarters Nagoya, Japan
Owned By Toyota Motor Company
Present CEO Takashi Watanabe (President)
Individually, each Toyota and Lexus carried out effectively within the referenced interval, with the previous shifting 1,640,689 models or a 4.3% improve in year-to-date gross sales; the latter bought 274,759 models, representing a noteworthy 9.3% improve when it comes to quantity. Out of all of the autos bought by each Toyota and Lexus, practically half of them have some type of electrification.
Hybrids Are The Key
TMNA’s hybrid gross sales figures at a look:
About half of Toyota and Lexus fashions bought within the US this 12 months are electrified. The Corolla, Highlander, and Corolla Cross hybrids noticed a surge in gross sales. The Camry continues to promote effectively with an all-hybrid lineup.
TMNA’s electrified car gross sales hit 93,400 models in October 2024, up 51.2% from final 12 months, making up a report 50.2% of the month’s complete gross sales. Electrified gross sales reached 803,460 models YTD – a rise of 55.4% – now representing 41.9% of the corporate’s US gross sales, one other all-time excessive.
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Whereas nothing has been confirmed, Toyota is contemplating an all-hybrid lineup, which implies the normal ICE-powered Toyota might disappear quickly.
The Camry, which is now solely obtainable as a hybrid mannequin, reached a big 27,202 models YTD, whereas the Corolla hybrid rose by 6.7%. Highlander hybrid mannequin gross sales have been up by 44.8%, and the Corolla Cross hybrid surged 40.2%, marking its best-ever October and YTD efficiency. In the meantime, the ES and RX bought effectively for Lexus, up by 63.2% and 73%, respectively, every reaching report October and YTD gross sales for the posh marque.
The Outliers Amid This Yr’s Impending Success
Toyota is delaying its push for EVs, with just one full BEV mannequin for Toyota and Lexus on provide. Regardless of that, we’re seeing a big improve in demand for each the bZ4X and RZ, with their YTD gross sales figures representing 91% and 170.6% will increase, respectively. In the meantime, the Toyota RAV4, which additionally has hybrid variations in its lineup, retains its best-selling crown for TMNA, shifting practically 400,000 models YTD, outselling the complete Lexus division.
Associated
With so many hybrids on provide from Toyota, it might probably get complicated as to which one to purchase. Here is every hybrid they provide ranked by value.
That stated, there are fashions within the Japanese marque’s lineup which are seeing a notable gross sales stoop this 12 months. For Toyota, the Mirai gas cell EV is not promoting effectively, solely shifting 375 models up to now this 12 months, in addition to the Tacoma and Highlander, with the latter posting a 44% lower in YTD numbers. Lexus, however, is seeing a slowdown in UX and IS gross sales, with the small premium crossover displaying a 28% drop.
