Toyota lowers its EV sales expectations by up to 39%, even as profit soars to record numbers

RahulNagaraj · 5th November 2023, 15:20

According to reports, Toyota Motor Corp has stated that it will be lowering the sales expectations of its EVs for this fiscal year. The auto giant initially planned to sell 202,000 EVs this fiscal year, but now expects to sell just 123,000 units - a significant 39% less.

Toyota lowers its EV sales expectations by up to 39%, even as profit soars to record numbers-toyotabz4xproductionesuv3.jpg

Toyota is currently the third-largest carmaker in the world but doesn't have a big EV portfolio. The Japanese car brand is instead leaning heavily towards its ICE and hybrid powertrains. Toyota though is predicting to reach record profits by the end of this fiscal year. The latest financial report of the car brand also shows that Toyota's profit prediction for the fiscal year has gone up from 3 trillion yen ($20.1 billion) to 4.5 trillion yen ($30.1 billion).

Reports suggest that Toyota expects to sell 3.6 million traditional hybrid vehicles worldwide this fiscal year. Also, the total electrified vehicle sales which include EVs, hybrids, plug-in hybrids and hydrogen FCEVs is expected to reach 3.9 million units - a 42% increase over last year. These electrified vehicles are said to account for 37% of Toyota's total sales.

Toyota & Lexus, together are expected to manufacture a record 10.1 million vehicles by the end of this fiscal year. Toyota also plans to launch 10 new EVs by 2026, many of which could be powered by solid-state batteries and offer over 1000 km of range on a full charge.

Source: InsideEVs

Link to Team-BHP news

darkchild82 · 6th November 2023, 13:30

Quote:

Originally Posted by RahulNagaraj

Toyota is currently the third-largest carmaker in the world but doesn't have a big EV portfolioLink to Team-BHP news

Errr... no. Toyota is not the 3rd largest in the world. Toyota is the largest car company in the world.

JunkyardHunter · 6th November 2023, 17:21

How many electric cars does Toyota have? I feel like 123000 units is still overambitious given the small amount of pure EVs they have.

5th November 2023, 15:20	#1
RahulNagaraj Senior - BHPian Join Date: Mar 2021 Location: Bangalore Posts: 2,304 Thanked: 22,129 Times	Toyota lowers its EV sales expectations by up to 39%, even as profit soars to record numbers According to reports, Toyota Motor Corp has stated that it will be lowering the sales expectations of its EVs for this fiscal year. The auto giant initially planned to sell 202,000 EVs this fiscal year, but now expects to sell just 123,000 units - a significant 39% less. Toyota is currently the third-largest carmaker in the world but doesn't have a big EV portfolio. The Japanese car brand is instead leaning heavily towards its ICE and hybrid powertrains. Toyota though is predicting to reach record profits by the end of this fiscal year. The latest financial report of the car brand also shows that Toyota's profit prediction for the fiscal year has gone up from 3 trillion yen ($20.1 billion) to 4.5 trillion yen ($30.1 billion). Reports suggest that Toyota expects to sell 3.6 million traditional hybrid vehicles worldwide this fiscal year. Also, the total electrified vehicle sales which include EVs, hybrids, plug-in hybrids and hydrogen FCEVs is expected to reach 3.9 million units - a 42% increase over last year. These electrified vehicles are said to account for 37% of Toyota's total sales. Toyota & Lexus, together are expected to manufacture a record 10.1 million vehicles by the end of this fiscal year. Toyota also plans to launch 10 new EVs by 2026, many of which could be powered by solid-state batteries and offer over 1000 km of range on a full charge. Source: InsideEVs Link to Team-BHP news
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6th November 2023, 17:21	#3
JunkyardHunter BHPian Join Date: May 2023 Location: Mumbai Posts: 122 Thanked: 187 Times Infractions: 0/1 (5)	Re: Toyota lowers its EV sales expectations by up to 39%, even as profit soars to record numbers How many electric cars does Toyota have? I feel like 123000 units is still overambitious given the small amount of pure EVs they have.
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