Toyota Motor North America surpasses one million electrified sales in 2024

Toyota Motor North America (TMNA) reported a milestone year in 2024, achieving U.S. sales of 2,332,623 vehicles—a 3.7% increase on a volume basis and a 3.1% rise on a daily selling rate (DSR) basis compared to 2023. The surge was driven by record electrified vehicle sales, which surpassed one million units for the first time, underscoring Toyota’s leadership in sustainable mobility.

Electrified models now account for 43.1% of TMNA’s total sales, with 30 options available across the Toyota and Lexus brands, more than any other automaker. This achievement highlights Toyota’s commitment to meeting evolving consumer demand for environmentally friendly transportation.

Electrified Vehicles Lead Toyota Motor North America’s Growth

TMNA’s electrified vehicle sales reached an all-time high of 1,006,461 units in 2024, reflecting a 53.1% year-over-year increase. The Toyota division contributed 883,426 electrified units, a 56.1% rise, comprising 44.5% of its total sales volume. The Lexus division also achieved record results, with 123,035 electrified vehicles sold—a 34.4% growth—accounting for 35.6% of its total sales.

Jack Hollis, Executive Vice President and COO of Toyota Motor North America, credited this success to the company’s multi-pathway powertrain approach. Offering a variety of electrified models, including hybrids, plug-in hybrids, and battery-electric vehicles, TMNA caters to diverse consumer preferences while advancing sustainability.

Best-Selling Models Continue to Dominate

Toyota Motor North America’s iconic models retained their dominance in 2024, with key achievements including:

• The Toyota Camry was America’s best-selling passenger car for the 23rd consecutive year.
• The Toyota Tacoma led the small pickup segment for the 20th consecutive year.
• The Toyota RAV4 remained the best-selling SUV in the U.S. for the 8th consecutive year, with total sales rising by 9.3%. Hybrid RAV4 sales grew 29.3%, while plug-in hybrid sales increased by 19.3%.

Lexus also celebrated its best-ever full-year sales in its 35-year history. The Lexus RX maintained its position as the top mid-luxury SUV for the 26th consecutive year. Standout performers included the RX Plug-In Hybrid, which saw sales grow by a staggering 547.6%.

Quarterly and December Performance

While TMNA achieved a strong year-end result, fourth-quarter and December sales reflected minor declines.

• Q4 2024: Sales totaled 603,104 vehicles, down 2.7% in volume compared to Q4 2023.
• December 2024: Sales reached 209,953 units, a 7.1% decrease in volume compared to December 2023.

The decline is attributed to ongoing supply chain challenges and seasonal demand fluctuations, but the company’s electrified vehicle performance remained a highlight.

Strategic Investments to Drive Future Growth

Toyota Motor North America continues to lead the automotive industry in electrification, backed by substantial investments in manufacturing. Since 2020, TMNA has committed nearly $21 billion to U.S. operations, with a focus on expanding production for electrified vehicles and components.

A cornerstone of this strategy is the $13.9 billion North Carolina facility, which is slated to begin battery production in 2025. This investment positions TMNA to meet increasing demand for hybrid and electric powertrains, reinforcing its commitment to sustainable mobility.

A Forward-Looking Approach for 2025

TMNA is preparing for an ambitious 2025, with plans to introduce 24 all-new, refreshed, or special-edition Toyota and Lexus models. The company also continues to enhance the customer experience through its digital retail platforms, SmartPath for Toyota and Monogram for Lexus. These platforms offer seamless integration between online and in-person shopping experiences.

Additionally, TMNA’s Certified Used Vehicle program remains an industry leader, achieving its 16th consecutive year as the top choice for pre-owned buyers. The program also celebrated the sale of its eight-millionth vehicle in 2024.

Toyota Motor North America’s Path to Sustained Leadership

Toyota Motor North America’s 2024 performance underscores its leadership in the automotive market, driven by innovation and a commitment to sustainability. With a robust lineup of electrified vehicles, strategic investments in U.S. manufacturing, and a forward-looking approach to consumer needs, TMNA is well-positioned to maintain its market dominance in 2025 and beyond.