Toyota’s November EV gross sales greater than doubled however account for just one% of whole quantity

Toyota bought a document variety of autos final month. Pure EV gross sales rose by 127% in November however nonetheless solely accounted for 1% of Toyota’s whole quantity.

Toyota has been arguably the most important laggard within the auto trade’s shift to completely electrical autos.

The Japanese automaker has lobbied towards stricter emissions guidelines for years. Recognized for being a pioneer in hybrid tech with the first-gen Prius launched in 1997, Toyota has refused to hitch the transition.

After longtime Toyota chief Akio Toyoda stepped down earlier this 12 months, some anticipated to see the corporate flip issues round.

Regardless of Koji Sato, former Lexus chief branding officer, taking the reigns in April, Toyota’s greenwashing has principally stayed the identical. Regardless of most governments transferring towards an all-electric future, Toyota continues to push its hybrid technique, together with EVs, hybrids, and plug-in hybrids.

Due to this, the automaker is dropping floor in key markets like Thailand and Latin America. Though EV gross sales rose 127% in November, BEVs nonetheless solely account for 1% of Toyota’s whole quantity.

Toyota EV gross sales rise in November, however hybrids dominate

Toyota bought 9,406 EVs in November (together with Lexus), up 126.8% over final 12 months. The automaker has now bought 95,220 EVs globally via the primary 11 months of the 12 months, up 413% YOY.

EV gross sales in Japan are lagging behind world markets. Toyota bought 186 electrical autos in its residence nation in November in comparison with 9,220 globally. In the meantime, hybrids proceed dominating Toyota’s total output.

Toyota bought 322,463 hybrids in November, bringing the 2023 whole to three.1 million. That quantity is up practically 30% in comparison with this time final 12 months.

Total gross sales reached 905,066, a brand new document. Toyota has now bought over 9.3 million autos this 12 months.

Toyota credited the expansion to hybrids just like the RAV4 and Corolla in North America and Europe. Amid the expansion, Toyota is more likely to preserve its title because the top-selling carmaker (for now).

Electrek’s Take

Regardless of hitting a brand new gross sales document in November, world EV gross sales additionally hit a brand new excessive. EV leaders like Tesla and BYD proceed gaining share in key world markets.

Tesla’s Mannequin Y is on monitor to grow to be the best-selling car globally (electrical or fuel), overtaking the Toyota Corolla. How lengthy can Toyota depend on hybrids? EV gross sales are solely anticipated to proceed climbing as new fashions are launched and charging infrastructure continues increasing.

Analysis from BloombergNEF exhibits “no signal of an EV slowdown” regardless of the latest unfavorable headlines.

International passenger EV gross sales are anticipated to achieve 14 million this 12 months, up 36% from final 12 months. Within the US, gross sales are rising even quicker and are anticipated to develop 50% in 2023.

Though some automakers like Ford and GM have pushed again EV initiatives, others are doubling down, like Hyundai and Volvo.

These firms count on to see EV demand proceed climbing with new electrical fashions just like the Volvo EX30, beginning at $35,000, hitting the market.