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

Both the total volume and electrified car sales were down as well.

2023 Toyota bZ4X

Mark Kane

By: Mark Kane

Jan 8, 2023 at 2:57pm ET

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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%)

Toyota and Lexus plug-in electric car sales in the US - Q4 2022

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:

Toyota bZ4X: 988 (new)
Toyota Prius Prime: 4,388 (up 67%)
Toyota RAV4 Prime: 4,445 (down 43%)
Lexus NX 450h+: 725 (up from 18 a year ago)

The hydrogen Toyota Mirai noted 657 units (up 82%).

2017 Toyota Prius Prime: First Drive

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)

What do you think?

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Comments

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: