Toyota Motor North America (Toyota and Lexus brands) reports sales of 536,744 vehicles in the United States during the fourth quarter of 2022, which is 13 percent more than a year ago. However, the 2022 result is nearly 14 percent lower than in 2021.
Q4 results:
- Toyota: 476,652 (up 17%)
- Lexus: 60,092 (down 8%)
- Total: 536,744 (up 13%)
It seems that it was a very challenging time for the Japanese manufacturer. Despite having 20 electrified vehicles on the market (HEV, PHEV, BEV, FCEV), the company noted a decrease in sales of xEVs.
Electrified vehicles xEV (HEV, PHEV, BEV, FCEV):
- Toyota xEV: 110,609 (down 9%)
- Lexus xEV: 15,050 (up 20%)
- Total xEV: 125,659 (down 6%) and 23.4% of the total volume
Plug-in electric car sales increased in Q4, but only by 1.5 percent year-over-year, to 10,546, which is a pretty weak rate of growth, considering how quickly the segment is expanding.
The number includes 988 all-electric cars and 9,558 plug-in hybrids (down 8 percent).
Plug-ins:
- Toyota plug-ins: 9,821 (down 5%) at 2.1% share
- Lexus plug-ins: 725 (up from 18 a year ago) at 1.2% share
- Total plug-ins: 10,546 (up 1.5%) and 2.0% of the total volume
*FCEVs: 657 (up 82%)
A quarter might be weak, but in the case of Toyota, the problem is broader, because the results were weak for the entire year. The total car sales, xEV sales, plug-in car sales and even hydrogen car sales – everything was down in 2022 compared to 2021.
Last year, the company sold 35,151 plug-in electric cars (down 33 percent year-over-year), which was also 1.7 percent of the total volume.
2022 results:
- Toyota: 1,849,754 (down 9%)
- Lexus: 258,704 (down 15%)
- Total: 2,108,458 (down 10%)
Electrified vehicles xEV (HEV, PHEV, BEV, FCEV):
- Toyota xEV: 448,854 (down 15%)
- Lexus xEV: 55,162 (up 0.4%)
- Total xEV: 504,016 (down 14%) and 23.9% of the total volume
Unfortunately, plug-in electric car sales are not only down, but the rate of decline is much higher. It’s really disappointing.
- Toyota plug-ins: 31,644 (down 40%) at 1.7% share
- Lexus plug-ins: 3,507 (up from 18 a year ago) at 1.4% share
- Total plug-ins: 35,151 (down 33%) and 1.7% of the total volume
*FCEVs: 2,094 (down 20%)
Toyota’s results are expected to improve, especially since there will be more and more plug-in electric models, but the year 2022 was a lost:
Models
The top-selling plug-in Toyota in Q4 once again was the Toyota RAV4 Prime plug-in hybrid, although it noted a significant 43% decrease year-over-year.
The good news is that the Toyota bZ4X is back with nearly a thousand units sold in Q4, as the company solved the safety issues related to wheel hub bolts. Also, the Toyota Prius Prime rebounded noticeably after five negative quarters.
Q4 results:
The hydrogen Toyota Mirai noted 657 units (up 82%).
Toyota Prius Prime
2021 Toyota RAV4 Prime
Overall, despite the launch of the all-electric Toyota bZ4X and the ramp-up of the Lexus NX 450h+ plug-in hybrid, it was a difficult year for Toyota.
2022 results:
- Toyota bZ4X: 1,220 (new)
- Toyota Prius Prime: 11,857 (down 53%)
- Toyota RAV4 Prime: 18,567 (down 33%)
- Lexus NX 450h+: 3,507 (up from 18 a year ago)
During the year, the company sold 2,094 hydrogen Toyota Mirai (down 20% year-over-year).
Toyota electrified car sales in the US in 2022:
