Toyota Motor North America Reports 2024 U.S. Sales Results

Rhea-AI Summary

Toyota Motor North America (TMNA) reported strong 2024 U.S. sales performance with 2,332,623 vehicles sold, marking a 3.7% increase from 2023. A significant milestone was reached in electrified vehicle sales, surpassing one million units with a 53.1% surge, representing 43.1% of total sales volume.

Key achievements include Lexus recording its best-ever full-year sales in its 35-year history and Toyota brand maintaining its position as the #1 retail brand for the 13th consecutive year. Notable performances include Camry remaining the top passenger car for the 23rd year, RAV4 leading SUV sales for the 8th year, and Tacoma dominating the small pickup segment for the 20th year.

The company announced plans to introduce approximately 24 new, refreshed, or special edition vehicles in 2025, alongside the launch of battery production at their new $13.9 billion North Carolina facility.

Positive

• Record-breaking electrified vehicle sales of 1,006,461 units (+53.1% YoY)
• Overall sales increase of 3.7% to 2,332,623 vehicles
• Lexus achieves best-ever full-year sales in 35-year history
• Maintains market leadership with #1 retail position for 13th consecutive year
• $13.9B investment in North Carolina battery facility
• 43.1% of total sales from electrified vehicles

Negative

• Q4 2024 sales declined 2.7% compared to Q4 2023
• December 2024 sales decreased 7.1% compared to December 2023

Insights

Financial Analyst

Toyota's 2024 U.S. sales performance showcases remarkable growth with 2.33 million units sold, up 3.7% year-over-year. The standout metric is the 53.1% surge in electrified vehicle sales, reaching over 1 million units and comprising 43.1% of total volume. This strategic shift toward electrification is backed by substantial investments, including a 13.9 billion North Carolina battery facility and nearly 21 billion in U.S. manufacturing operations since 2020.

Market leadership remains strong with Toyota projected to maintain its position as the #1 passenger vehicle seller for the 13th consecutive year. Lexus achieved its best-ever annual sales in its 35-year history, leading the luxury segment. The company's multi-powertrain strategy and competitive pricing (lowest incentives among full-line manufacturers) demonstrate effective market positioning and strong demand fundamentals.

Market Research Analyst

The sales data reveals significant shifts in consumer preferences and Toyota's market adaptation. Key growth indicators include 128.6% increase in Corolla Cross HEV sales, 99.1% growth in bZ4X (EV) sales and impressive gains in hybrid variants across the lineup. The success of premium models like the Grand Highlander (up 49.3%) and Tundra (up 27.4%) suggests strong consumer spending in higher-margin segments.

Toyota's product strategy aligns well with market demands, offering 30 electrified options while maintaining competitive entry-level positions with six models under 30,000. The successful rollout of digital retail platforms (Smartpath and Monogram) indicates effective adaptation to modern retail preferences, while record accessory sales exceeding 1 billion demonstrate strong consumer engagement and personalization trends.

• Year-end electrified Toyota and Lexus sales surpasses one million units and surges 53 percent; electrified units make up more than 43 percent of total sales volume
• 30 electrified vehicle options available, the most among any automaker with more in showrooms throughout 2025
• Lexus records its best-ever full-year sales result in its 35-year history
• Toyota brand projected to be the number one retail for the 13^th consecutive year

PLANO, Texas, Jan. 3, 2025 /PRNewswire/ -- Toyota Motor North America (TMNA) today reported year-end 2024 U.S. sales of 2,332,623 vehicles, an increase of 3.7 percent on a volume basis and an increase of 3.1 percent on a daily selling rate (DSR) basis compared to 2023.

The company reported fourth quarter 2024 U.S. sales of 603,104 vehicles, a decrease of 2.7 percent on a volume basis and a decrease of 5.2 percent on a DSR basis compared to the fourth quarter of 2023. December 2024 U.S. sales totaled 209,953 vehicles, a decrease of 7.1 percent on a volume basis and a decrease of 3.4 percent on a DSR basis compared to December 2023.

"Our multi-pathway powertrain approach continues to attract customers, meeting their lifestyles and budgets," said Jack Hollis, executive vice president and chief operating officer, TMNA. "Our teams are working with suppliers and dealers to prepare for a busy 2025 as we introduce approximately 24 all-new, refreshed or special edition Toyota and Lexus vehicles, and start battery production at our new $13.9 billion North Carolina facility to meet future demands of our customers."

Highlights (volume basis)

TMNA:

• 2024 electrified vehicle sales of 1,006,461 – an all-time best ever - up 53.1 percent; represents 43.1 percent of total sales volume
• 30 total electrified vehicles currently available in dealerships between both the Toyota and Lexus brands, the most among any automaker
• Projected to be the number one seller of passenger vehicles for the 13^th consecutive year, and 16 of the last 17 years
• Since 2020, TMNA has announced new investments of nearly $21 billion into its U.S. manufacturing operations to support electrification efforts to meet customer demand
• Continued successful rollout of digital retail platforms, Smartpath for Toyota and Monogram for Lexus, as well as ramp up of Smartpath and Monogram Service
• Lowest incentives among full-line manufacturers

Toyota Division:

• 2024 electrified vehicle sales of 883,426 – an all-time best ever - up 56.1 percent; represents 44.5 percent of total sales volume
• Projected to be the number one retail brand for the 13^th consecutive year
• Projected to be the number one retail brand for passenger cars for the 13th consecutive year
• Six Toyota brand vehicles starting under $30,000
• More than $1 billion in accessory sales, a best-ever
• Camry number one passenger car in America for the 23^rd consecutive year
• Tacoma number one small pickup in America for the 20^th consecutive year
• RAV4 best-selling SUV in the U.S. for the 8^th consecutive year
• Year-end sales:
  • Total electrified up 56.1 percent
  • Total cars up 4.2 percent
  • Corolla HEV up 4.6 percent
  • Camry up 6.6 percent
  • Prius up 17.5 percent
  • Total SUVs up 3.6 percent
  • bZ4X up 99.1 percent
  • Total RAV4 up 9.3 percent
    • RAV4 HEV up 29.3 percent
    • RAV4 PHEV up 19.3 percent
  • Corolla Cross up 30.8 percent
    • Corolla Cross HEV up 128.6 percent
  • Grand Highlander up 49.3 percent
  • Sequoia up 17.6 percent
  • Sienna up 12.8 percent
  • Tundra up 27.4 percent
    • Tundra HEV up 22.1 percent
• Toyota Certified Used Vehicle program remains the top-seller of certified used vehicles for the 16^th consecutive year, and sold its 8 millionth vehicle since launching in 1996. Also launched Silver Certification to attract new customers

Lexus Division:

• Division records its best-ever full-year sales result in its 35-year history
• Top-selling luxury brand in 2024
• 2024 electrified vehicle sales of 123,035 – an all-time best ever - up 34.4 percent; represents 35.6 percent of total sales volume
• RX projected to be the top-selling mid-luxury SUV for the 26^th consecutive year
• Year-end sales:
  • Total electrified up 34.4 percent
  • Total LUVs up 10.0 percent
  • RC up 5.8 percent
  • Total ES up 10.3 percent
    • ES HEV 45.8 percent
  • RZ up 80.0 percent
  • NX HEV up 26.6 percent
    • NX PHEV up 19.7 percent
  • Total RX up 4.0 percent
    • RX HEV up 30.1 percent
    • RX PHEV up 547.6 percent
  • Total TX up 249.2 percent
    • TX HEV up 316.6 percent

About Toyota 
Toyota (NYSE:TM) has been a part of the cultural fabric in North America for more than 65 years, and is committed to advancing sustainable, next-generation mobility through our Toyota and Lexus brands, plus our more than 1,800 dealerships.

Toyota directly employs nearly 64,000 people in North America who have contributed to the design, engineering, and assembly of nearly 47 million cars and trucks at our 14 manufacturing plants. In 2025, Toyota's plant in North Carolina will begin to manufacture automotive batteries for electrified vehicles. With more electrified vehicles on the road than any other automaker, Toyota currently offers 30 electrified options.

For more information about Toyota, visit www.ToyotaNewsroom.com.

Media contact:
Victor Vanov
victor.vanov@toyota.com
469.292.1318

 

TOYOTA  U.S. SALES SUMMARY
December 2024
	-- CURRENT MONTH --				-- CALENDAR YEAR TO DATE --
	2024	2023	DSR %	VOL %	2024	2023	DSR %	VOL %
TOTAL TMNA	209,953	226,116	-3.4	-7.1	2,332,623	2,248,477	3.1	3.7
TOTAL TOYOTA DIV.	172,909	188,338	-4.5	-8.2	1,986,954	1,928,228	2.4	3.0
TOTAL LEXUS DIV.	37,044	37,778	2.0	-1.9	345,669	320,249	7.2	7.9
COROLLA	17,720	23,400	-21.2	-24.3	232,908	232,370	-0.4	0.2
SUPRA	70	245	-70.3	-71.4	2,615	2,652	-2.0	-1.4
GR86 (INCL FR-S)	579	790	-23.8	-26.7	11,426	11,078	2.5	3.1
MIRAI	35	23	58.3	52.2	499	2,737	-81.9	-81.8
CROWN	810	2,271	-62.9	-64.3	19,648	19,063	2.4	3.1
PRIUS	5,211	5,178	4.7	0.6	44,711	38,052	16.7	17.5
CAMRY	26,811	25,405	9.8	5.5	309,876	290,649	5.9	6.6
TOTAL TOYOTA DIV. CAR	51,236	57,312	-7.0	-10.6	621,696	596,656	3.5	4.2
IS	1,458	2,090	-27.4	-30.2	18,946	22,521	-16.4	-15.9
RC	175	169	7.7	3.6	1,854	1,752	5.1	5.8
ES	5,005	3,873	34.4	29.2	43,156	39,117	9.6	10.3
LS	158	181	-9.2	-12.7	2,163	2,234	-3.8	-3.2
LC	72	154	-51.4	-53.2	1,464	1,761	-17.4	-16.9
TOTAL LEXUS DIV. CAR	6,868	6,468	10.4	6.2	67,587	67,388	-0.4	0.3
TOTAL TMNA CAR	58,104	63,780	-5.3	-8.9	689,283	664,044	3.1	3.8
BZ4X	1,854	669	188.2	177.1	18,570	9,329	97.8	99.1
RAV4	44,296	47,044	-2.1	-5.8	475,193	434,943	8.5	9.3
COROLLA CROSS	7,448	7,484	3.5	-0.5	93,021	71,110	30.0	30.8
CROWN SIGNIA	2,794	0	0	0	10,263	0	0	0
VENZA	1,315	2,555	-46.5	-48.5	32,086	29,907	6.6	7.3
HIGHLANDER	3,252	12,330	-72.6	-73.6	89,658	169,543	-47.5	-47.1
GRAND HIGHLANDER	8,429	8,354	4.9	0.9	71,721	48,036	48.3	49.3
4RUNNER	60	12,275	-99.5	-99.5	92,156	119,238	-23.2	-22.7
SEQUOIA	2,105	2,468	-11.3	-14.7	26,097	22,182	16.9	17.6
LAND CRUISER	5,399	1	539,800.0	519,800.0	29,113	7	413,099.4	415,800.0
TOTAL TOYOTA DIV. SUV	76,953	93,181	-14.1	-17.4	937,880	905,072	3.0	3.6
SIENNA	7,032	5,857	24.9	20.1	75,037	66,547	12.0	12.8
TACOMA	22,715	19,475	21.3	16.6	192,813	234,768	-18.4	-17.9
TUNDRA	14,973	12,513	24.4	19.7	159,528	125,185	26.6	27.4
TOTAL TOYOTA DIV. PICKUP	37,688	31,988	22.5	17.8	352,341	359,953	-2.8	-2.1
TOTAL TOYOTA DIV. TRUCK	121,673	131,026	-3.4	-7.1	1,365,258	1,331,572	1.9	2.5
UX	948	883	11.7	7.4	8,877	11,846	-25.5	-25.1
NX	8,120	8,579	-1.6	-5.4	74,488	74,526	-0.7	-0.1
RZ	397	1,025	-59.7	-61.3	9,697	5,386	78.9	80.0
RX	13,027	12,248	10.6	6.4	118,636	114,033	3.4	4.0
TX	3,462	3,734	-3.6	-7.3	28,640	8,201	247.0	249.2
GX	3,468	4,256	-15.3	-18.5	30,914	31,910	-3.8	-3.1
LX	754	585	34.0	28.9	6,830	6,959	-2.5	-1.9
TOTAL LEXUS DIV. TRUCK	30,176	31,310	0.2	-3.6	278,082	252,861	9.3	10.0
TOTAL TMNA TRUCK	151,849	162,336	-2.7	-6.5	1,643,340	1,584,433	3.0	3.7
Selling Days	25	26			308	306
DSR = Daily Selling Rate
	TOYOTA U.S. ELECTRIFIED VEHICLE SALES SUMMARY
December 2024
	-- CURRENT MONTH --				-- CALENDAR YEAR TO DATE --
	2024	2023	DSR %	VOL%	2024	2023	DSR %	VOL%
TOYOTA PRIUS HYBRID	3,716	4,080	-5.3	-8.9	32,039	30,495	4.4	5.1
TOYOTA PRIUS PRIME	1,495	1,098	41.6	36.2	12,672	7,557	66.6	67.7
TOYOTA COROLLA HYBRID	3,737	4,905	-20.8	-23.8	50,190	47,990	3.9	4.6
TOYOTA CAMRY HYBRID	26,789	4,860	473.3	451.2	205,156	35,445	475.0	478.8
TOYOTA MIRAI	35	23	58.3	52.2	499	2,737	-81.9	-81.8
TOYOTA CROWN	810	2,271	-62.9	-64.3	19,648	19,063	2.4	3.1
TOYOTA SIENNA HYBRID	7,031	5,857	24.8	20.0	75,008	66,539	12.0	12.7
TOYOTA HIGHLANDER HYBRID	2,487	3,427	-24.5	-27.4	24,777	49,654	-50.4	-50.1
TOYOTA GRAND HIGHLANDER HYBRID	2,999	2,077	50.2	44.4	26,119	11,986	116.5	117.9
TOYOTA SEQUOIA HYBRID	2,104	2,467	-11.3	-14.7	26,091	22,151	17.0	17.8
TOYOTA LAND CRUISER HYBRID	5,399	1	539,800.0	519,800.0	29,113	7	413,099.4	415,800.0
TOYOTA BZ4X BEV	1,854	669	188.2	177.1	18,570	9,329	97.8	99.1
TOYOTA RAV4 HYBRID	20,612	19,357	10.7	6.5	208,356	161,125	28.5	29.3
TOYOTA RAV4 PRIME	2,147	2,605	-14.3	-17.6	31,093	26,073	18.5	19.3
TOYOTA COROLLA CROSS HYBRID	2,803	2,737	6.5	2.4	35,289	15,437	127.1	128.6
TOYOTA CROWN SIGNIA	2,794	0	0	0	10,263	0	0	0
TOYOTA VENZA HYBRID	1,315	2,555	-46.5	-48.5	32,086	29,907	6.6	7.3
TOYOTA TACOMA HYBRID	1,720	0	0	0	9,444	0	0	0
TOYOTA TUNDRA HYBRID	1,358	4,035	-65.0	-66.3	37,010	30,303	21.3	22.1
LEXUS ES HYBRID	1,816	1,179	60.2	54.0	18,481	12,677	44.8	45.8
LEXUS UX HYBRID	948	883	11.7	7.4	8,877	11,844	-25.5	-25.1
LEXUS NX HYBRID	2,832	3,157	-6.7	-10.3	27,129	21,435	25.7	26.6
LEXUS NX PLUG-IN HYBRID	832	554	56.2	50.2	6,301	5,265	18.9	19.7
LEXUS RZ BEV	397	1,025	-59.7	-61.3	9,697	5,386	78.9	80.0
LEXUS RX HYBRID	4,618	3,204	49.9	44.1	42,876	32,965	29.2	30.1
LEXUS RX PLUG-IN HYBRID	569	282	109.8	101.8	4,248	656	543.4	547.6
LEXUS TX HYBRID	634	489	34.8	29.7	4,812	1,155	313.9	316.6
LEXUS TX PLUG-IN HYBRID	70	0	0	0	502	0	0	0
LEXUS LS HYBRID	9	8	17.0	12.5	94	107	-12.7	-12.1
LEXUS LC HYBRID	1	4	-74.0	-75.0	18	37	-51.7	-51.4
TOTAL TMNA Electrified Vehicles	103,931	73,809	46.4	40.8	1,006,461	657,334	52.1	53.1
TOTAL TOYOTA Electrified Vehicles	91,205	63,024	50.5	44.7	883,426	565,807	55.1	56.1
TOTAL LEXUS Electrified Vehicles	12,726	10,785	22.7	18.0	123,035	91,527	33.6	34.4
TOTAL TMNA SALES RATIO	49.5 %	32.6 %			43.1 %	29.2 %
Selling Days	25	26			308	306

 

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SOURCE Toyota Motor North America

FAQ

What was Toyota's (TM) total U.S. sales volume for 2024?

Toyota Motor North America reported total U.S. sales of 2,332,623 vehicles in 2024, representing a 3.7% increase from 2023.

How many electrified vehicles did Toyota (TM) sell in 2024?

Toyota sold 1,006,461 electrified vehicles in 2024, achieving a 53.1% increase from the previous year and representing 43.1% of total sales volume.

What is Toyota's (TM) investment in the North Carolina battery facility?

Toyota is investing $13.9 billion in a new North Carolina facility that will begin manufacturing automotive batteries for electrified vehicles in 2025.

How did Toyota's (TM) Q4 2024 sales perform compared to Q4 2023?

Toyota's Q4 2024 U.S. sales totaled 603,104 vehicles, showing a decrease of 2.7% on a volume basis compared to Q4 2023.

How many new or refreshed vehicles will Toyota (TM) introduce in 2025?

Toyota plans to introduce approximately 24 all-new, refreshed, or special edition Toyota and Lexus vehicles throughout 2025.