Toyota continues to excel in the auto industry with its hybrid vehicles, according to the company’s latest monthly report. In November alone, Toyota sold a staggering 322,463 hybrids, contributing to its total hybrid sales for the year of 3.1 million – a remarkable 30% increase from the previous year. This success comes as Tesla CEO Elon Musk dismisses hybrids as merely a phase in the industry.
Interestingly, while Toyota’s sales of battery electric vehicles also showed a significant increase this year, with approximately 95,000 units sold (a fourfold increase from the previous year), this number represents only about 1% of Toyota’s total sales. Despite committing $28 billion towards rolling out 30 EV models by 2030, Toyota may face challenges catching up to the world’s leading EV manufacturers.
China’s BYD sold nearly 800,000 battery electric vehicles in the first eleven months of this year, while Tesla is projected to reach a global delivery figure of 1.82 million vehicles in the same period. However, it seems that some consumers worldwide are still opting for hybrid vehicles as an alternative to an all-electric future.
In the United States, the pace of EV sales growth has been slower compared to hybrids. Americans purchased approximately one million hybrid vehicles this year, a significant 76% increase from the previous year. Toyota recognizes this trend in its monthly report and attributes strong sales in North America to the high demand for hybrid vehicles like the RAV4 and Corolla.
The success story extends to other regions as well. In Europe, Toyota reported a growth in sales, thanks to the popularity of the Yaris, which includes hybrid and plug-in hybrid models, as well as the RAV4 and Corolla. Even in China, where the rise of Chinese EV automakers and the general shift towards electric cars has been evident, Toyota experienced a 17% year-on-year growth in sales for November.
Overall, November proved to be an exceptional month for Toyota. The company had record-breaking vehicle sales, including its subsidiaries Hino Motors and Daihatsu Motor, reaching a total of 986,262 units – a 12% increase from the same period last year. Additionally, Toyota’s worldwide production figures for November were also at an all-time high with 1,067,446 units.
With these outstanding figures, it is highly likely that Toyota will continue to hold its title as the world’s bestselling automaker for the fourth consecutive year. The Japanese company has sold an impressive 10.2 million vehicles, including its subsidiaries, in the period from January to November. This number is approximately 2 million more than its closest competition, the Volkswagen Group, which sold 8.3 million vehicles during the same period.
Toyota’s dominance in the hybrid market and its ongoing success in overall vehicle sales solidify the company’s position as an industry leader. While the debate between hybrid and electric vehicles persists, Toyota proves that there is still a strong demand for hybrids, shaping the future of mobility and sustainability.