Toyota Motor North America, comprising Toyota and Lexus brands, reported robust performance in electrified vehicle sales for the fourth quarter of 2023, marking a 15% year-over-year increase with 619,661 units sold. The company’s continued focus on electrification, evident in its expanded lineup of 26 electrified models, contributed to the surge in sales. During Q4 2023, total electrified vehicle (xEV) sales reached an all-time high of 202,185 units, constituting 32.6% of the group’s total volume. The breakdown reveals Toyota xEV sales at 172,978 units (up 56%) and Lexus xEV sales at 29,207 units (up 94%). In particular, plug-in electric car sales, including all-electric and plug-in hybrid vehicles, surged by 58% year-over-year to reach 16,657 units, constituting 2.7% of the total volume. All-electric car sales witnessed exceptional growth, soaring by 479% to 5,718 units. For the entire year 2023, the Toyota group achieved almost 40,000 plug-in electric vehicle sales in the U.S., accounting for approximately 2.4% of its total volume. The notable results affirm Toyota’s commitment to electrification and set a new record for plug-in electric car sales, driven by the surging popularity of all-electric models, such as the Toyota bZ4X. The hydrogen-powered Toyota Mirai also achieved a new annual sales record, reaching 2,737 units. The electrified vehicle strategy seems to be gaining traction, with Toyota poised to continue its growth in the evolving electric vehicle market.
