In a surprising turn of events, General Motors (GM) struggled to keep up with Japanese automaker Toyota in the US automotive market. During the first six months of this year, GM sold a total of 1,290,319 units, which is 0.4% worse than the same period in 2023. In contrast, Toyota delivered an impressive 1,186,647 units, experiencing a significant rise of 14.3% in sales. The difference between the two giants is a mere 103,672 vehicles.
Toyota’s dominance in the market was further solidified by the fact that their namesake brand, Toyota Motor North America, emerged as the number one retail brand in the first half of the year. Toyota is banking on continued growth from its electrified portfolio, boasting the availability of 29 electrified Toyota and Lexus vehicle options at their dealerships – the most among any automaker.
Lexus, Toyota’s luxury division, also achieved its best-ever first-half sales in its 35-year history. However, it wasn’t all smooth sailing for Toyota Motor North America, as they reported a 1.2% drop in June sales, amounting to 193,120 vehicles. Nevertheless, their second-quarter deliveries showed a promising 9.2% increase, and first-half sales were up by an impressive 14.3%. Toyota also celebrated the best-ever June performance of various models, including the bZ4X, GR86, Camry HEV, Corolla HEV, Crown, Corolla Cross and HEV, Grand Highlander and HEV, Sequoia, and Tundra HEV.
Jack Hollis, the executive vice president of sales at Toyota Motor North America, expressed his satisfaction with the company’s performance in the first half of 2024. He credited the success to the team’s unwavering focus on customers and the introduction of exceptional products, particularly electrified vehicles. Hollis highlighted that nearly 40 percent of their total sales volume through June came from the diverse portfolio of 29 electrified vehicle options offered by Toyota and Lexus.
While Toyota’s overall performance was remarkable, there were a few models that didn’t fare as well. The Mirai, a passenger car, experienced a significant decline of 86%, making it an obvious failure. Similarly, the GR Supra saw a less-than-impressive performance, with a 9% drop to less than 1,500 units. On the other hand, the Crown saw a substantial increase of 125%, surpassing 14,000 units. The Corolla and Camry, both classic best-selling nameplates, also performed admirably, with jumps of 23.5% to 122,000 units and 1.6% to over 155,000 units, respectively.
In the SUV and truck departments, Toyota’s performance was noteworthy. The iconic Tacoma experienced a significant decline of 41.3%, selling only 69,437 units compared to nearly 117,000 units in the first six months of the previous year. This decline can be attributed to the transition to a new generation and limited availability of the new hybrid powertrain. However, the Tundra surpassed the Tacoma with an impressive rise of almost 39% to 78,454 vehicles. The RAV4 remained the undisputed leader in the SUV category within the Toyota family.
Overall, Toyota’s dominance in the US automotive market is evident, with strong sales performance and a focus on electrified vehicles driving their success. While there were a few models that didn’t meet expectations, the company’s diverse portfolio and commitment to customer satisfaction continue to propel them forward.
In a shocking turn of events, the Toyota 4Runner has emerged as the unexpected star in the SUV market. Surpassing popular contenders like the Highlander and Corolla Cross, this off-road beast has secured the second spot in sales. With a staggering 66,550 units sold in just six months, the 15-year-old N280 Toyota 4Runner has proven its enduring appeal.
This remarkable achievement is even more impressive considering the imminent arrival of the new 4Runner. The anticipation surrounding the upcoming model has not deterred buyers from flocking to dealerships to get their hands on the current version. Clearly, the 4Runner’s reputation as a formidable rival to the likes of Jeep Wrangler and Ford Bronco has struck a chord with consumers.
The 4Runner’s success can be attributed to its rugged design and unparalleled off-road capabilities. Built to conquer any terrain, this SUV has become a symbol of adventure and freedom. Its loyal fan base continues to grow as more and more drivers seek the thrill of off-roading in style.
As we eagerly await the arrival of the new 4Runner, one thing is certain: Toyota has once again proven its ability to captivate the market. With its winning combination of durability, performance, and versatility, the 4Runner remains a force to be reckoned with. So, buckle up and get ready for the next chapter in the 4Runner’s legendary journey.
