Toyota Motor North America (TMNA) has once again demonstrated its market dominance by achieving a significant milestone: being projected as the number one retail brand in the United States for the 12th consecutive year. The company’s 2023 U.S. sales report, released from its headquarters in Plano, Texas, underscores this achievement with a total sales volume of 2,248,477 vehicles, marking a 6.6% increase from the previous year.
A key driver of Toyota’s success is its robust lineup of electrified vehicles, including battery, hybrids, plug-ins, and fuel cells. These vehicles experienced a remarkable 30% surge in sales, accounting for nearly one-third of the total sales volume. The company currently offers 26 electrified vehicle options, more than any other automaker, with plans to expand its offerings throughout 2024.
The fourth quarter of 2023 was particularly strong for Toyota, with sales totaling 619,661 vehicles, a 15.4% increase compared to the same period in 2022. December alone saw a 25.5% increase in sales volume. This growth is reflective of the company’s diverse range of vehicles, meeting the varied lifestyle and budget needs of customers.
Toyota’s executive vice president of Sales, TMNA, Jack Hollis, highlighted the company’s “multi-pathway approach to electrification,” which is set to further accelerate in 2024. Toyota plans to introduce 22 new, refreshed, or special edition vehicles, including sedans and more electrified options, in response to strong customer demand. By the end of 2025, Toyota aims to offer an electrified version for every Toyota and Lexus vehicle in the U.S.
In terms of specific divisions, the Toyota brand itself saw electrified vehicle sales comprising 29.3% of its total sales volume in 2023. Key models like the Corolla, Camry, Tacoma, and RAV4 continued to lead in their respective segments. The Lexus division also recorded a significant year with electrified vehicles making up 28.6% of its total sales.
TMNA’s strategic investments, nearly $16 billion since 2021, into U.S. manufacturing operations to support electrification efforts, along with the successful rollout of digital retail platforms like Smartpath for Toyota and Monogram for Lexus, have contributed to this growth.
