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

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

Despite the overall decline, sales of electric vehicles – consisting of hybrids, plug-in hybrids, electric vehicles and fuel cells – increased significantly by 22.4% and accounted for almost 48.4% of the total sales volume. This reflects the increasing trend among consumers towards environmentally friendly vehicles.

In the third quarter, TMNA’s total sales reached 542,872 vehicles, down 8% year-on-year. However, electric vehicle sales recorded a notable increase of 38.6%, highlighting the increasing demand for sustainable transportation.

Year-to-date, TMNA ​​has sold 1.73 million vehicles in the U.S., up 6.2%, with electrified models accounting for 41.1% of those sales – a 56% increase year-over-year.

The Toyota division reported a 21.1% drop in sales in September, while Lexus reported a 14.5% decline.

Despite these declines, both divisions reported strong year-to-date growth in electric vehicle sales, with Lexus achieving its best results ever thanks to popular models such as the RX HEV and NX HEV. The Toyota Camry HEV, Tacoma HEV and other hybrid models have also contributed to the increase in electric sales.

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

“Nearly 50% of our September sales were electrified models,” said Jack Hollis, executive vice president of sales at TMNA. “This reflects our commitment to carbon neutrality while offering our customers a variety of powertrain options.”

As Toyota continues to expand its electric vehicle offering, the company is well-positioned to close out 2024 successfully as consumer interest in green technologies drives demand in both luxury and mainstream segments.