Toyota 2024 US Sales Surge 3.7%, Hits Milestone With Over A Million Electrified Vehicles Sold

Toyota Motor Corporation TM shares are trading slightly higher on Friday.

The firm has announced a successful 2024, with a total of 2.33 million vehicles sold, marking an increase of 3.7% on a volume basis and an increase of 3.1% on a DSR basis compared to 2023.

TMNA’s 2024 electrified vehicle sales of 1.006 million were up 53.1%, representing 43.1% of the total sales volume.

Toyota now offers 30 electrified vehicle options, the most of any automaker, and will continue expanding its lineup in 2025.

Fourth quarter U.S. sales were 603,104 vehicles, a decrease of 2.7% on a volume basis and a decrease of 5.2% on a DSR basis.

December 2024 U.S. sales totaled 209,953 vehicles, down 7.1% on a volume basis and a decrease of 3.4% on a DSR basis compared to December 2023.

Also Read: Ford Shifts Into High Gear: Q4 Total US Sales Surge 9%

Lexus, the luxury arm of Toyota, also experienced significant success, achieving its best-ever full-year sales performance in its 35-year history. The luxury brand’s growth is indicative of the increased customer preference for electrified options, which will be further supported by the addition of new models and options throughout 2025.

Toyota’s strong sales performance positions the Toyota brand as a leader in the retail market, projecting a 13th consecutive year of being the top retail seller in the U.S.

Jack Hollis, executive vice president and chief operating officer, TMNA, said, “Our teams are working with suppliers and dealers to prepare for a busy 2025 as we introduce approximately 24 all-new, refreshed or special edition Toyota and Lexus vehicles, and start battery production at our new $13.9 billion North Carolina facility to meet future demands of our customers.”

Price Action: TM shares are trading higher by 0.83% to $194.72 at last check Friday.

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