Toyota reports strong EV sales despite overall decline in September U.S. sales

Toyota reports strong EV sales despite overall decline in September U.S. sales

Toyota Motor North America (TMNA) reported a 20.3% drop in U.S. sales for September 2024, with 162,595 vehicles sold.

Despite the overall decline, electrified vehicle sales—comprising hybrids, plug-in hybrids, EVs, and fuel cells—rose significantly by 22.4%, accounting for nearly 48.4% of total sales volume. This reflects a growing consumer shift towards eco-friendly vehicles.

In the third quarter, TMNA’s total sales reached 542,872 vehicles, down 8% year-over-year. However, electrified vehicle sales saw a notable 38.6% increase, underscoring the rising demand for sustainable transportation.

Year-to-date, TMNA has sold 1.73 million vehicles in the U.S., a 6.2% increase, with electrified models making up 41.1% of those sales—up 56% from the previous year.

Toyota’s division posted a 21.1% decline in September sales, while Lexus reported a 14.5% decrease.

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Despite these dips, both divisions have experienced strong year-to-date growth in electrified vehicle sales, with Lexus achieving its best-ever results, thanks to popular models like the RX HEV and NX HEV. The Toyota Camry HEV, Tacoma HEV, and other hybrid models have also contributed to the surge in electrified sales.

TMNA executives credit this growth to their comprehensive portfolio approach, offering 30 electrified models across Toyota and Lexus dealerships.

“Nearly 50% of our sales in September were electrified models,” said Jack Hollis, TMNA Executive Vice President of Sales. “This reflects our commitment to carbon neutrality while providing customers with a variety of powertrain options.”

As Toyota continues to expand its lineup of electrified vehicles, the company is positioned to close out 2024 on a strong note, with consumer interest in green technologies driving demand across both luxury and mainstream segments.