Toyota sells over 450,000 cars as in first half of 2024

Toyota Motor North America (TMNA) has once again solidified its position as a leader in the U.S. automotive market with remarkable sales results for the first half of 2024. The company reported a significant increase in sales, particularly in electrified vehicles, which are quickly becoming a cornerstone of its strategy.

Electrification drives sales success

With over 454,000 electrified vehicles sold in the first six months of 2024, Toyota’s electrified lineup now represents a staggering 38.3% of its total sales volume. This is a clear indicator of the company’s growing emphasis on sustainable mobility. In June alone, Toyota sold 84,781 electrified vehicles, marking a 64.5% increase compared to the same month last year. This impressive figure accounts for 43.9% of the brand’s total monthly sales.

Jack Hollis, Executive Vice President of Sales at TMNA, expressed his satisfaction with the results: “The first half of 2024 surpassed our high expectations thanks to our teams’ continued focus on customers with even more great products, including electrified vehicles. Lexus recorded its best-ever first half in its 35-year history, Toyota remains the number one retail brand in the industry, and our diverse portfolio of 29 electrified vehicle options between the Toyota and Lexus brands made up nearly 40% of our total sales volume through June.”

Quarterly and Half-Year Performance

TMNA’s second-quarter performance further underscores its strong momentum, with total sales reaching 621,549 vehicles, a 9.2% increase compared to the previous year. Of these, 247,347 were electrified vehicles, up 63.1% from 2023, showcasing the growing demand for Toyota’s eco-friendly options.

In the first half of 2024, TMNA sold 1,186,647 vehicles, marking a 14.3% increase in volume. This surge was driven by a balanced mix of passenger cars and trucks (SUVs and pickups), which saw growth rates of 12.0% and 15.7%, respectively.

Toyota and Lexus: Leading the Charge

Toyota’s main division saw a robust performance, with first-half sales up by 14.7%. The division’s electrified vehicle sales skyrocketed by 71.8%, representing 38.6% of total sales. Notably, June electrified vehicle sales for the division rose by 69.8%, comprising 45.3% of the monthly total.

Lexus, Toyota’s luxury brand, achieved its best-ever first-half sales in its 35-year history, with a 11.9% increase compared to the previous year. The brand’s commitment to electrification was evident as electrified vehicles made up 36.5% of its sales for the first half of 2024, a 46.5% increase from last year. In June, Lexus sold 33.7% more electrified vehicles than in June 2023, representing 35.9% of its total sales.

A Diverse Portfolio of Best-Sellers

Toyota’s wide array of electrified options continues to attract consumers. The company offers 29 different electrified models across its Toyota and Lexus brands, the most of any automaker. Several models achieved their best-ever sales figures for June and the first half of the year, including the bZ4X, GR86, Camry HEV, Corolla HEV, and the new Crown and Grand Highlander models. The RAV4 Prime (PHEV) and Tundra HEV were also standout performers.

Lexus’ electrified lineup, including the ES HEV, NX HEV, RX HEV, and the new RZ, also set records for June and the first half of 2024. The luxury utility vehicle segment, which includes the NX and RX series, played a crucial role in the brand’s success.

Future Projection

As Toyota continues to push the boundaries of electrification, the company remains confident in its ability to lead the automotive industry toward a more sustainable future. The first half of 2024 has set a high bar, and with the momentum gained, TMNA is well-positioned to maintain its leadership in the retail market and the rapidly growing electrified vehicle sector.

“We are excited about what the future holds,” Hollis added. “Our commitment to providing customers with innovative and sustainable options has never been stronger, and we look forward to continuing this journey with them.”

With electrified vehicles making up nearly 40% of its total sales volume, Toyota is not only participating in the industry’s shift toward sustainability but also driving it.

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