Toyota U.S. Electric Car Sales Increased By 10 Times In 2023

Nonetheless, plug-in hybrids still remain the majority of the manufacturer's rechargeable car sales.

Jan 7, 2024 at 10:19am ET

Toyota Motor North America (Toyota and Lexus brands) reports that its vehicle sales in the United States during the fourth quarter of 2023 amounted to 619,661 units. That's a 15% increase year-over-year. For the full year, the company sold over 2.24 million cars (up 7% year-over-year).

Last year, the Japanese manufacturer significantly increased its electrification efforts, expanding the lineup of electrified vehicles—xEVs (HEV, PHEV, BEV, FCEV)—to 26 models and increased the sales volume.

Get Fully Charged

Toyota gradually accelerates electrification

In 2023, Toyota (including Lexus) sold over 54,000 plug-in electric cars in the U.S., including 14,715 all-electric and almost 40,000 plug-in hybrids. It's a new record, although the company's main focus is non-rechargeable hybrids with over 600,000 sales.

In Q4, the total xEV sales amounted to a record 202,185 vehicles (up 61% year-over-year) and 32.6% of the group's total volume.

Electrified vehicle xEV (HEV, PHEV, BEV, FCEV) sales in Q4'2023:

Toyota xEV: 172,978 (up 56%) and 33% share Lexus xEV: 29,207 (up 94%) and 30.4% share Total xEV: 202,185 (up 61%) and 32.6% share

In 2023, the total xEV volume increased by over 30% to 657,327, accounting for 29% of the sales.

Meanwhile, rechargeable car sales—all-electric car sales, in particular—are growing even faster (from a lower base, though).

In Q4 2023, the Toyota group sold 16,657 plug-in electric cars (up 58% year-over-year), which represents 2.7% of the total volume. It's worth noting that all-electric car sales increased by 459% to 5,718 and are quickly catching up with the plug-in hybrids (10,939).

Plug-in car sales in Q4'2023:

Toyota plug-ins: 11,664 (up 19%) and 2.2% share
BEVs: 2,843 (up 188%) and 0.5% share
PHEVs: 8,821 (down 0.1%) and 1.7% share Lexus plug-ins: 4,993 (up 589%) and 5.2% share
BEVs: 2,875 (new) and 3% share
PHEVs: 2,118 (up 192%) and 2.2% share Total plug-ins: 16,657 (up 58%) and 2.7% share
BEVs: 5,718 (up 479%) and 0.9% share
PHEVs: 10,939 (up 14%) and 1.8% share

* Toyota FCEVs: 133 (down 80%) and 0.0% share

In 2023, the group sold almost 40,000 plug-in electric vehicles in the U.S. (about 2.4% of its total volume). All-electric car sales amounted to 14,715, which is 1,103% more than in 2022 and 0.7% of the total volume.

Plug-in car sales in Q1-Q4'2023:

Toyota plug-ins: 42,959 (up 36%) and 2.2% share
BEVs: 9,329 (up 663%) and 0.5% share
PHEVs: 33,630 (up 11%) and 1.7% share Lexus plug-ins: 11,307 (up 222%) and 3.5% share
BEVs: 5,386 (new) and 1.7% share
PHEVs: 5,921 (up 69%) and 1.8% share Total plug-ins: 54,266 (up 54%) and 2.4% share
BEVs: 14,715 (up 1103%) and 0.7% share
PHEVs: 39,551 (up 17%) and 1.8% share

* Toyota FCEVs: 2,737 (up 31%) and 0.1% share

For reference, in 2022, the group sold more than 35,000 plug-in electric cars (1.7% of its total volume), while in 2021, it was 52,767.

In 2023, Toyota (with the help of Lexus) managed to set a new record for plug-in electric car sales. It's a result of surging all-electric car sales because plug-in hybrid car sales are actually lower than in 2021 (39,551 vs. 52,767).

We guess that in the coming years, all-electric car sales will continue to grow, very likely outpacing the plug-in hybrid sales. At the same time, the strong growth of the non-rechargeable hybrids means that the Japanese company has no reason to ditch HEVs.

Models

In terms of models, the top one in Q4 was the plug-in hybrid RAV4 Prime (7,222). The all-electric Toyota bZ4X with 2,843 units was able to beat the Toyota Prius Prime but finished third behind its cousin—the Lexus RZ (2,875).

The all-electric Toyota bZ4X, together with the Lexus RZ and 3,109 Subaru Solterras, noted 8,827 sales during the quarter. That's not bad, and the Lexus RZ lineup recently expanded indicating that there is potential for more.

Lexus also launched the new RX PHEV model, which started with 656 sales in Q4.

Model sales in Q4'2023:

Toyota bZ4X: 2,843 (up 188%) Toyota Prius Prime: 1,599 (down 64%) Toyota RAV4 Prime: 7,222 (up 62%) Lexus NX 450h+: 1,462 (up 102%) Lexus RZ: 2,875 (new) Lexus RX PHEV: 656 (new)

* The hydrogen Toyota Mirai noted 133 units (down 80%).

In 2023, Toyota bZ4X sales amounted to 9,329 (2nd best plug-in after the RAV4 Prime, which accounts for nearly half of the plug-in volume), which together with 5,386 Lexus RZ, is 14,715 all-electric cars. Subaru sold an additional 8,872 units, so the trio of closely related models ended the year with a total of 23,587 units.

It's worth noting that the hydrogen Toyota Mirai set a new annual sales record of 2,737 (up almost 31% year-over-year).

Model sales in Q1-Q4'2023:

Toyota bZ4X: 9,329 (up 663%) Toyota Prius Prime: 7,557 (down 36%) Toyota RAV4 Prime: 26,073 (up 40%) Lexus NX 450h+: 5,265 (up 50%) Lexus RZ: 5,386 (new) Lexus RX PHEV: 656 (new)

* The hydrogen Toyota Mirai noted 2,737 units (up 31%).

Detailed sales results of Toyota electrified cars in the U.S.:

Credits