Toyota aims for 80% of its North American sales to come from electrified vehicles by 2030
By 2030, all major Toyota models sold in the U.S. will be available as hybrids, as the carmaker seeks to further secure its market position.
Toyota and Lexus currently dominate nearly 60% of the U.S. hybrid vehicle market. With EV demand waning in the first half of 2024, Toyota plans to invest more in hybrids. Sales of its hybrid vehicles surged by 66% from January to June, reaching 410,000 units, largely due to the new Camry being sold exclusively as a hybrid.
Kevin Butt, Toyota Motor North America’s regional environmental sustainability director, told Nikkei Asia that the brand’s hybrid lineup will expand in the coming years. However, he did not specify which of its ‘key models’ will receive hybrid powertrains by 2030.
From January to June, Toyota held a 15% share of the North American passenger car market, with hybrids making up 33% of its total sales. By 2030, the company aims for around 80% of its North American sales to be electrified vehicles, including EVs. With the possibility of a Trump presidency on the horizon, Toyota’s focus on expanding its hybrid offerings is clearly strategic.
If Donald Trump returns to the Oval Office for a second term, he is expected to roll back EV mandates and has previously expressed strong opposition to electric vehicles. In September 2023, he called EVs a “hoax” and suggested that the U.S. auto industry could “cease to exist” if Chinese automakers prevail.
The report also notes that Trump has recently formed an alliance with Elon Musk, a leading advocate for EVs. Musk endorsed Trump earlier this month and is reportedly planning to donate $45 million a month to a pro-Trump organization. Should Trump become President, it’s likely that Musk will attempt to influence him and shift his stance on electric vehicles.
