Toyota Plug-In Car Sales Decreased By A Third In 2022

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%).