PLANO, Texas (Jan. 3, 2025) – Toyota and Lexus have announced a groundbreaking year in 2024, with electrified vehicle sales surpassing one million units in the U.S. This impressive milestone represents a 53 percent surge compared to the previous year, highlighting the growing consumer demand for Toyota Lexus’s diverse range of electrified options. Electrified models now constitute over 43 percent of the total sales volume for Toyota Motor North America (TMNA).
Toyota Lexus currently offers an industry-leading 30 electrified vehicle options, demonstrating a commitment to providing solutions that meet various customer needs and preferences. This extensive lineup is set to expand further, with more electrified models expected to arrive in showrooms throughout 2025.
“Our multi-pathway powertrain approach continues to resonate with customers, aligning with their diverse lifestyles and budgets,” stated Jack Hollis, executive vice president and chief operating officer, TMNA. “As we look ahead to a dynamic 2025, our teams are diligently collaborating with suppliers and dealers to introduce approximately 24 all-new, refreshed, or special edition Toyota and Lexus vehicles. Furthermore, the commencement of battery production at our new $13.9 billion North Carolina facility will be instrumental in meeting the escalating future demands of our valued customers.”
Electrification Leadership Drives Toyota and Lexus Forward
The remarkable growth in electrified vehicle sales is a cornerstone of Toyota Lexus’s success in 2024. A total of 1,006,461 electrified vehicles were sold, marking an all-time record and a substantial 53.1 percent increase year-over-year. This figure underscores the strong market position of Toyota and Lexus in the rapidly expanding electrified vehicle segment. For the Toyota brand alone, electrified vehicle sales reached 883,426 units, a 56.1 percent jump, now accounting for 44.5 percent of Toyota’s total sales. Lexus also contributed significantly, with 123,035 electrified vehicles sold, a 34.4 percent increase, representing 35.6 percent of the Lexus division’s total volume.
This performance solidifies Toyota Lexus as a leader in offering a wide spectrum of electrified powertrains, including hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), battery electric vehicles (BEVs), and fuel cell electric vehicles (FCEVs). The commitment to a multi-pathway approach allows Toyota Lexus to cater to a broad customer base with varying needs and infrastructure availability.
Toyota and Lexus Brand Highlights of 2024
Beyond electrification, both Toyota and Lexus brands achieved significant milestones in 2024. Toyota is projected to retain its position as the number one retail brand for the 13th consecutive year and the leading passenger car retail brand for the same period. Several Toyota models demonstrated exceptional performance, including:
- Camry: Maintained its dominance as the number one passenger car in America for the 23rd consecutive year.
- Tacoma: Remained the top small pickup in America for the 20th consecutive year.
- RAV4: Continued as the best-selling SUV in the U.S. for the 8th consecutive year, with total RAV4 sales up 9.3 percent, and RAV4 HEV sales surging by 29.3 percent.
Lexus, on the other hand, celebrated its best-ever full-year sales in its 35-year history. The luxury division also saw strong growth in electrified vehicle sales, contributing to the overall TMNA success. The Lexus RX is projected to be the top-selling mid-luxury SUV for the 26th consecutive year, further cementing Lexus’s position in the luxury automotive market. Notably, Lexus experienced significant year-end sales increases in key models such as the ES (up 10.3 percent), RZ (up 80.0 percent), and RX PHEV (up an impressive 547.6 percent).
Investing in the Future of Toyota Lexus
Toyota Lexus is not only focused on current sales success but also on future growth and innovation. Since 2020, TMNA has announced investments of nearly $21 billion in its U.S. manufacturing operations to bolster electrification efforts and meet growing customer demand. This substantial investment includes the new battery production facility in North Carolina, which will be crucial in supporting the production of future Toyota and Lexus electrified vehicles. Furthermore, the continued rollout of digital retail platforms like Smartpath for Toyota and Monogram for Lexus enhances customer experience and streamlines the purchasing process.
With a strong focus on electrification, brand leadership, and strategic investments, Toyota Lexus is well-positioned for continued success in the evolving automotive landscape. The record-breaking year-end sales in 2024 underscore the enduring appeal and forward-thinking approach of the Toyota and Lexus brands.
