Toyota's 'Electrified' Q3 Sales Dominated by Hybrids, PHEVs See Modest Gain

Toyota and Lexus reported that over 60% of their North American sales in Q3 2024 were 'electrified' vehicles. However, the vast majority of these sales were conventional hybrids, with plug-in hybrid (PHEV) models showing only a slight increase in market share, and battery-electric vehicles (BEVs) remaining a minor contributor. This data highlights Toyota's continued reliance on hybrid technology as it navigates the transition to full electrification.