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Toyota North America Achieves Record Electrified Vehicle Sales In 2024 U.S. Market
Toyota Motor North America (TMNA) reported a significant rise in electrified vehicle sales for 2024, surpassing one million units. This marks a 53% increase from the previous year, with electrified models comprising over 43% of total sales. TMNA offers 30 electrified models, the most among automakers, and plans to expand this lineup through 2025.
The Toyota brand achieved record sales of 883,426 electrified vehicles in 2024, marking a 56.1% increase. These vehicles accounted for 44.5% of Toyota's total sales volume. The brand is projected to be the top retail brand for the 13th consecutive year and has maintained its position as the leading passenger car retailer for the same period.
Lexus also recorded its best-ever full-year sales in its 35-year history, with electrified vehicle sales reaching 123,035 units. This represents a growth of 34.4%, making up 35.6% of Lexus's total sales volume. The RX model is expected to remain the top-selling mid-luxury SUV for the 26th consecutive year.
Since 2020, TMNA has invested nearly $21 billion into U.S. manufacturing operations to support electrification efforts. This includes a new $13.9 billion facility in North Carolina set to produce automotive batteries starting in 2025. These investments aim to meet growing customer demand for electrified vehicles.
TMNA's digital retail platforms, Smartpath for Toyota and Monogram for Lexus, continue to expand successfully. These platforms enhance customer experience by streamlining the purchasing process online and at dealerships.
Sales Highlights
In terms of specific models, the Camry remained America's top passenger car for the 23rd consecutive year, while the Tacoma led as the number one small pickup for two decades. The RAV4 was again the best-selling SUV in the U.S., marking its eighth consecutive year at the top.
The Toyota Certified Used Vehicle program remains a leader in certified used vehicle sales for the 16th straight year, having sold its eight millionth vehicle since its inception in 1996.
Lexus Division Growth
Lexus saw significant growth across various models in 2024. The RX HEV increased by 30.1%, while RX PHEV surged by an impressive 547.6%. The TX series also showed remarkable growth with an overall increase of 249.2%, and TX HEV rose by an astounding 316.6%.
The NX HEV and NX PHEV models experienced increases of 26.6% and 19.7%, respectively, highlighting Lexus's strong performance in hybrid offerings.
Toyota's commitment to sustainable mobility is evident through its extensive range of electrified vehicles and significant investments in manufacturing capabilities. With plans to introduce more models and ramp up battery production, Toyota aims to maintain its leadership position in the automotive industry while meeting evolving consumer demands.
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