Toyota Motor North America Reports U.S. June and First Half 2024 Sales Results

Rhea-AI Summary

Toyota Motor North America (TMNA) reported its U.S. sales results for June and the first half of 2024. TMNA sold 193,120 vehicles in June, reflecting a 1.2% decrease compared to June 2023. However, electrified vehicle sales soared to 84,781 units, a 64.5% increase, making up 43.9% of total sales. For the second quarter, TMNA reported a 9.2% increase in sales, totaling 621,549 vehicles.

For the first half of 2024, TMNA sold 1,186,647 vehicles, a 14.3% increase from the previous year. Notably, first-half electrified vehicle sales surged by 67.9% to 454,197 units, accounting for 38.3% of total sales. The Toyota division's first half sales rose by 14.7%, while the Lexus division experienced an 11.9% increase, marking its best-ever first half in history with 167,211 units sold.

TMNA currently offers 29 electrified vehicle options, the most among automakers, helping Toyota retain its position as the industry's leading retail brand.

Positive

• TMNA's first half 2024 sales increased by 14.3% year-over-year to 1,186,647 vehicles.
• Electrified vehicle sales surged by 67.9% in the first half of 2024, totaling 454,197 units.
• Toyota remains the number one retail brand in the industry.
• Lexus recorded its best-ever first half with a sales increase of 11.9%.

Negative

• June 2024 vehicle sales decreased by 1.2% compared to June 2023.
• Toyota division's June 2024 sales dropped by 2.3% year-over-year.
• Multiple models experienced significant sales declines, including the Highlander (-51.9%) and Mirai (-95.5%).

Insights

Financial Analyst

Toyota Motor North America's sales report for June and the first half of 2024 shows substantial growth in electrified vehicle sales, demonstrating the company's commitment to sustainable mobility. With 454,000 electrified vehicles sold in the first half, representing 38.3% of total sales, the transition towards a greener portfolio is clear. This positions Toyota favorably in the market amid rising environmental concerns and regulatory pressures. The first half sales increase of 14.3% also indicates strong overall performance despite a slight 1.2% decline in June. Investors should note the robust growth in the electrified segment, with sales rising by 67.9% compared to the previous year, highlighting the successful execution of Toyota's electrification strategy.

Market Research Analyst

The data shows Toyota's dominance in the U.S. market, maintaining its position as the number one retail brand and Lexus achieving its best-ever first-half sales. This suggests a strong brand loyalty and effective marketing strategies. The increase in electrified vehicle sales is also noteworthy, with 43.9% of total sales in June being electrified models, an all-time high. This trend aligns with broader market shifts towards sustainable vehicles and consumer preferences. Additionally, the broad range of 29 electrified vehicle options demonstrates Toyota's commitment to catering to diverse consumer needs and staying ahead of competitors in the EV market.

•   More than 454,000 electrified vehicles sold in first half of 2024; represents 38.3 percent of total sales volume

•   29 electrified Toyota and Lexus vehicle options available at dealerships, the most among any automaker

•   Toyota remains the industry's number one retail brand in first half

•   Lexus records its best-ever first half sales in its 35-year history

PLANO, Texas, July 2, 2024 /PRNewswire/ -- Toyota Motor North America (TMNA) reported U.S. June sales of 193,120 vehicles, down 1.2 percent on a volume and daily selling rate (DSR) basis versus June 2023. June electrified vehicle sales totaled 84,781, up 64.5 percent on a volume basis and DSR basis, representing 43.9 percent of total monthly sales.

TMNA second quarter U.S. sales totaled 621,549 vehicles, up 9.2 percent on a volume and DSR basis. Second quarter electrified vehicle sales totaled 247,347, up 63.1 percent on a volume and DSR basis, representing 39.8 percent of total sales for the period.

TMNA first half U.S. sales totaled 1,186,647 vehicles, up 14.3 percent on a volume basis and up 12.8 percent on an DSR basis. First half electrified vehicle sales totaled 454,197, up 67.9 percent on a volume basis and up 65.7 percent on an DSR basis representing 38.3 percent of total sales for the period.

Toyota division posted June sales of 164,777 vehicles, down 2.3 percent on a volume and DSR basis. For the second quarter, the division sold 532,809 vehicles, up 9.2 percent on a volume and DSR basis. For the first half, the division sold 1,019,436 vehicles, up 14.7 percent on a volume basis and up 13.2 percent on an DSR basis.

Lexus division posted June sales of 28,343 vehicles, up 5.9 percent on a volume and DSR basis. For the second quarter, the division sold 88,740 vehicles, up 9.3 percent on a volume and DSR basis. For the first half, the division sold 167,211 vehicles, up 11.9 percent on a volume basis and up 10.5 percent on an DSR basis.

"The first half of 2024 surpassed our high expectations thanks to our teams' continued focus on customers with even more great products, including electrified vehicles," said Jack Hollis, executive vice president, Sales, TMNA. "Lexus recorded its best-ever first half in its 35-year history, Toyota remains the number one retail brand in the industry, and our diverse portfolio of 29 electrified vehicle options between the Toyota and Lexus brands made up nearly 40 percent of our total sales volume through June."

June, second quarter and first half 2024 highlights (volume basis)

TMNA:

• Second quarter sales up 9.2 percent
• First half sales up 14.3 percent
• June electrified vehicle sales up 64.5 percent; represents 43.9 percent of total sales volume, an all-time best-ever
• First half electrified vehicle sales up 67.9 percent; represents 38.3 percent of total sales volume, an all-time best-ever
• 29 electrified Toyota and Lexus vehicle options available at dealerships
• First half passenger car sales up 12.0 percent
• First half truck sales (SUVs and Trucks) up 15.7 percent

Toyota Division:

• Second quarter sales up 9.2 percent
• First half sales up 14.7 percent
• June electrified vehicle sales up 69.8 percent; represents 45.3 percent of total sales volume
• First half electrified vehicle sales up 71.8 percent; represents 38.6 percent of total sales volume
• First half passenger car sales up 13.6 percent
• First half SUV sales up 28.6 percent
• First half truck sales up 15.1 percent
• Best-ever June sales:    
  • bZ4X
  • GR86
  • Camry HEV
  • Corolla HEV
  • Crown
  • Corolla Cross
  • Corolla Cross HEV
  • Grand Highlander
  • Grand Highlander HEV
  • Sequoia
  • Tundra HEV
• Best-ever first half sales:
  • bZ4X
  • GR86
  • Camry HEV
  • Corolla HEV
  • Crown
  • Corolla Cross
  • Corolla Cross HEV
  • Grand Highlander
  • Grand Highlander HEV
  • RAV4 HEV
  • RAV4 Prime (PHEV)
  • Sequoia
  • Tundra HEV

Lexus Division:

• Best-ever first half total sales
• June sales up 5.9 percent
• Second quarter sales up 9.3 percent
• First half sales up 11.9 percent
• June electrified vehicle sales up 33.7 percent; represents 35.9 percent of total sales volume
• First half electrified vehicle sales up 46.5 percent; represents 36.5 percent of total sales volume
• First half SUV sales up 15.7 percent
• Best-ever June sales:    
  • Total electrified vehicles
  • Total luxury utility vehicles
  • ES HEV
  • NX HEV
  • NX PHEV
  • RX HEV
  • RX PHEV
  • RZ
  • Total TX
    • TX, TX HEV, TX PHEV
• Best-ever first half sales:
  • Total vehicles
  • Total electrified vehicles
  • Total luxury utility vehicles
  • Total NX
    • NX, NX HEV, HX PHEV
  • RX HEV
  • RX PHEV
  • RZ
  • Total TX
    • TX, TX HEV, TX PHEV

Note:
HEV = Hybrid Electric Vehicle
PHEV = Plug-In Hybrid Electric Vehicle
FCEV = Fuel Cell Electric Vehicle
BEV = Battery Electric Vehicle 

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 more than 63,000 people in North America who have contributed to the design, engineering, and assembly of nearly 47 million cars and trucks at our 12 manufacturing plants. By 2025, Toyota's 13^th 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 29 electrified options.

Media Contacts:
Victor Vanov
victor.vanov@toyota.com

Media Websites:	ToyotaNewsroom.com
	LexusNewsroom.com

 

TOYOTA  U.S. SALES SUMMARY
June 2024
	-- CURRENT MONTH --				-- CALENDAR YEAR TO DATE --
	2024	2023	DSR %	VOL %	2024	2023	DSR %	VOL %
TOTAL TMNA	193,120	195,448	-1.2	-1.2	1,186,647	1,038,520	12.8	14.3
TOTAL TOYOTA DIV.	164,777	168,680	-2.3	-2.3	1,019,436	889,108	13.2	14.7
TOTAL LEXUS DIV.	28,343	26,768	5.9	5.9	167,211	149,412	10.5	11.9
COROLLA	18,259	20,485	-10.9	-10.9	121,991	97,498	23.5	25.1
SUPRA	272	246	10.6	10.6	1,495	1,621	-9.0	-7.8
GR86 (INCL FR-S)	1,500	1,178	27.3	27.3	7,467	5,263	40.0	41.9
MIRAI	20	445	-95.5	-95.5	245	1,722	-86.0	-85.8
CROWN	1,493	1,232	21.2	21.2	14,032	6,155	125.0	128.0
PRIUS	13	2,466	-99.5	-99.5	15,373	14,941	1.6	2.9
CAMRY	24,552	28,706	-14.5	-14.5	155,242	150,742	1.6	3.0
TOTAL TOYOTA DIV. CAR	46,109	54,760	-15.8	-15.8	315,850	277,985	12.1	13.6
IS	1,561	1,854	-15.8	-15.8	10,149	11,114	-9.9	-8.7
RC	145	165	-12.1	-12.1	941	842	10.3	11.8
ES	3,546	3,475	2.0	2.0	19,558	19,319	-0.1	1.2
LS	144	174	-17.2	-17.2	1,214	1,211	-1.1	0.2
LC	135	132	2.3	2.3	966	825	15.6	17.1
TOTAL LEXUS DIV. CAR	5,531	5,800	-4.6	-4.6	32,828	33,313	-2.7	-1.5
TOTAL TMNA CAR	51,640	60,560	-14.7	-14.7	348,678	311,298	10.6	12.0
BZ4X	1,353	616	119.6	119.6	9,468	3,659	155.4	158.8
RAV4	41,736	38,250	9.1	9.1	248,295	187,017	31.0	32.8
COROLLA CROSS	8,705	5,629	54.6	54.6	45,167	28,336	57.3	59.4
VENZA	4,133	2,292	80.3	80.3	21,527	13,077	62.5	64.6
HIGHLANDER	8,910	18,542	-51.9	-51.9	60,108	113,264	-47.6	-46.9
GRAND HIGHLANDER	6,542	159	4,015.0	4,015.0	55,382	159	34,279.1	34,731.4
4RUNNER	9,530	9,287	2.6	2.6	66,550	50,736	29.5	31.2
SEQUOIA	2,344	1,625	44.2	44.2	12,868	9,577	32.6	34.4
LAND CRUISER	2,064	1	206,300.0	206,300.0	3,461	4	85,301.3	86,425.0
TOTAL TOYOTA DIV. SUV	85,317	76,406	11.7	11.7	522,827	406,603	26.9	28.6
SIENNA	5,419	6,418	-15.6	-15.6	32,868	27,940	16.1	17.6
TACOMA	14,929	21,321	-30.0	-30.0	69,437	116,845	-41.3	-40.6
TUNDRA	13,003	9,775	33.0	33.0	78,454	59,735	29.6	31.3
TOTAL TOYOTA DIV. PICKUP	27,932	31,096	-10.2	-10.2	147,891	176,580	-17.3	-16.2
TOTAL TOYOTA DIV. TRUCK	118,668	113,920	4.2	4.2	703,586	611,123	13.6	15.1
UX	718	1,012	-29.1	-29.1	5,372	6,802	-22.0	-21.0
NX	6,784	6,925	-2.0	-2.0	34,639	34,038	0.4	1.8
RZ	1,190	281	323.5	323.5	5,639	1,117	398.3	404.8
RX	9,576	9,819	-2.5	-2.5	54,955	57,372	-5.5	-4.2
TX	2,357	0	0.0	0.0	21,322	0	0.0	0.0
GX	1,668	2,438	-31.6	-31.6	9,141	13,324	-32.3	-31.4
LX	519	493	5.3	5.3	3,315	3,446	-5.1	-3.8
TOTAL LEXUS DIV. TRUCK	22,812	20,968	8.8	8.8	134,383	116,099	14.2	15.7
TOTAL TMNA TRUCK	141,480	134,888	4.9	4.9	837,969	727,222	13.7	15.2
Selling Days	26	26			154	152
DSR = Daily Selling Rate
TOYOTA U.S. ELECTRIFIED VEHICLE SALES SUMMARY
June 2024
	-- CURRENT MONTH --				-- CALENDAR YEAR TO DATE --
	2024	2023	DSR %	VOL%	2024	2023	DSR %	VOL%
TOYOTA PRIUS HYBRID	6	1,698	-99.6	-99.6	10,755	12,275	-13.5	-12.4
TOYOTA PRIUS PRIME	7	768	-99.1	-99.1	4,618	2,666	71.0	73.2
TOYOTA COROLLA HYBRID	3,712	2,808	32.2	32.2	27,907	23,101	19.2	20.8
TOYOTA CAMRY HYBRID	23,693	4,386	440.2	440.2	51,074	12,207	313.0	318.4
TOYOTA MIRAI	20	445	-95.5	-95.5	245	1,722	-86.0	-85.8
TOYOTA CROWN	1,493	1,232	21.2	21.2	14,032	6,155	125.0	128.0
TOYOTA SIENNA HYBRID	5,417	6,418	-15.6	-15.6	32,858	27,937	16.1	17.6
TOYOTA HIGHLANDER HYBRID	1,426	2,650	-46.2	-46.2	10,992	33,422	-67.5	-67.1
TOYOTA GRAND HIGHLANDER HYBRID	2,149	54	3,880.0	3,880.0	20,569	54	37,496.0	37,991.0
TOYOTA SEQUOIA HYBRID	2,344	1,622	44.5	44.5	12,867	9,555	32.9	34.7
TOYOTA LAND CRUISER HYBRID	2,064	1	206,300.0	206,300.0	3,461	4	85,301.0	86,425.0
TOYOTA BZ4X BEV	1,353	616	119.6	119.6	9,468	3,659	155.4	158.8
TOYOTA RAV4 HYBRID	16,445	14,919	10.2	10.2	111,526	57,208	92.4	94.9
TOYOTA RAV4 PRIME	2,883	1,139	153.1	153.1	17,074	10,970	53.6	55.6
TOYOTA COROLLA CROSS HYBRID	3,105	530	485.8	485.8	17,129	530	3,090.0	3,132.0
TOYOTA VENZA HYBRID	4,133	2,292	80.3	80.3	21,527	13,077	62.5	64.6
TOYOTA TACOMA HYBRID	212	0	0.0	0.0	217	0	0.0	0.0
TOYOTA TUNDRA HYBRID	4,147	2,349	76.5	76.5	26,867	14,280	85.7	88.1
LEXUS ES HYBRID	1,465	1,192	22.9	22.9	7,629	5,766	30.6	32.3
LEXUS UX HYBRID	718	1,012	-29.1	-29.1	5,372	6,800	-22.0	-21.0
LEXUS NX HYBRID	2,317	1,650	40.4	40.4	13,172	7,277	78.7	81.0
LEXUS NX PLUG-IN HYBRID	660	447	47.7	47.7	3,135	2,298	34.7	36.4
LEXUS RZ BEV	1,190	281	323.5	323.5	5,639	1,117	398.3	404.8
LEXUS RX HYBRID	3,213	3,018	6.5	6.5	20,287	18,319	9.3	10.7
LEXUS RX PLUG-IN HYBRID	132	0	0.0	0.0	1,784	0	0.0	0.0
LEXUS TX HYBRID	431	0	0.0	0.0	3,546	0	0.0	0.0
LEXUS TX PLUG-IN HYBRID	42	0	0.0	0.0	380	0	0.0	0.0
LEXUS LS HYBRID	3	8	-62.5	-62.5	57	61	-7.8	-6.6
LEXUS LC HYBRID	1	0	0.0	0.0	8	14	-43.6	-42.9
TOTAL TMNA Electrified Vehicles	84,781	51,536	64.5	64.5	454,197	270,480	65.7	67.9
TOTAL TOYOTA Electrified Vehicles	74,609	43,928	69.8	69.8	393,188	228,828	69.6	71.8
TOTAL LEXUS Electrified Vehicles	10,172	7,608	33.7	33.7	61,009	41,652	44.6	46.5
TOTAL TMNA SALES RATIO	43.9 %	26.4 %			38.3 %	26.0 %
Selling Days	26	26			154	152

 

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SOURCE Toyota Motor North America

FAQ

What were Toyota's total U.S. sales in June 2024?

Toyota's total U.S. sales in June 2024 were 193,120 vehicles, a 1.2% decline from June 2023.

How did Toyota's electrified vehicle sales perform in June 2024?

Toyota's electrified vehicle sales in June 2024 rose by 64.5% to 84,781 units, making up 43.9% of total sales.

What is the significance of Toyota's first half 2024 sales?

Toyota's first half 2024 sales totaled 1,186,647 vehicles, a 14.3% increase, with electrified vehicles accounting for 38.3% of total sales.

How many electrified vehicle options does Toyota offer as of June 2024?

As of June 2024, Toyota offers 29 electrified vehicle options, the most among any automaker.

What was the performance of the Lexus division in the first half of 2024?

The Lexus division recorded its best-ever first half in 2024, with a sales increase of 11.9%, totaling 167,211 units.