New plug-ins enter the market: Toyota RAV4 Prime, Lexus UX 300e and Toyota Proace EV.
Toyota group (Toyota and Lexus brands) sold 715,081 cars in Europe (down 15% year-over-year) during the first nine months of 2020 and improved its market share from 5.3% to 6.1% (as the market is down 25%).
The most interesting thing is that the Japanese manufacturer keeps selling more and more hybrids, which now stand for 52% of the total volume. In Western Europe, it's 63%.
- Toyota + Lexus: 715,081 (-15% year-on-year), Market share: 6.1% (+0.8 ppt year-on-year)
- Total hybrid sales: 372,893 (-14.5% year-on-year) or 52% of all
We appreciate the electrification, but of course we are here not to rave about the hybrids. We are all-in for plug-ins (with an eye on hydrogen fuel cell vehicles), and here is what we see:
- Toyota Prius Plug-in Hybrid (aka Prius Prime) - 1,662 (0.25% of total Toyota brand sales)
- Toyota Mirai - 152
That's really marginal volumes. The good news is that three plug-ins are entering the market:
- plug-in hybrid Toyota RAV4 Prime (also as a Suzuki Across PHEV)
- all-electric Toyota Proace Electric with 15 year/1 million lm battery warranty
- all-electric Lexus UX 300e
We are aware that it's not a massive shift and the approach in terms of volume might still be minimalistic, but at least we see new models and hopefully it will expand from there.
Toyota group detailed results - Q3 2020