Toyota Motor Corporation (NYSE: TM) shares saw a slight increase in trading on Friday following the company’s announcement of a successful 2024 performance. Toyota reported that it had sold a total of 2.33 million vehicles in 2024, reflecting a 3.7% increase on a volume basis and a 3.1% increase on a DSR basis compared to the previous year.
Of particular note was the significant growth in Toyota Motor North America’s (TMNA) electrified vehicle sales in 2024, with 1.006 million units sold, marking a substantial 53.1% increase and accounting for 43.1% of the total sales volume. Toyota now boasts the largest selection of electrified vehicle options among all automakers, currently offering 30 models, with plans to further expand its lineup in 2025.
In the U.S. market, Toyota’s fourth-quarter sales for 2024 totaled 603,104 vehicles, reflecting a modest 2.7% decline on a volume basis and a 5.2% decrease on a DSR basis. December 2024 sales in the U.S. reached 209,953 vehicles, down 7.1% on a volume basis and 3.4% on a DSR basis compared to the previous December.
Luxury brand Lexus, a division of Toyota, also experienced remarkable success in 2024, achieving its best-ever full-year sales performance in its 35-year history. The significant growth in Lexus sales aligns with the rising consumer preference for electrified options, a trend that is expected to be further bolstered by the introduction of new models and options throughout 2025.
Toyota’s robust sales performance firmly establishes the brand as a leader in the U.S. retail market, projecting its 13th consecutive year as the top retail seller in the country. Jack Hollis, Executive Vice President and Chief Operating Officer of TMNA, expressed confidence in the company’s future prospects, stating, “Our teams are working diligently with suppliers and dealers to gear up for an active 2025, during which we plan to introduce approximately 24 all-new, refreshed, or special edition Toyota and Lexus vehicles. Additionally, we will commence battery production at our new $13.9 billion facility in North Carolina to meet the evolving demands of our customers.”
As of the latest update on Friday, TM shares were trading higher by 0.83% at $194.72. Looking ahead, Toyota remains focused on innovation and expansion, with a clear commitment to meeting the evolving needs and preferences of consumers in the dynamic automotive market.
The original article, “Toyota 2024 US Sales Surge 3.7%, Hits Milestone With Over A Million Electrified Vehicles Sold,” was first published on Benzinga.com in 2025. Benzinga retains all rights to this content and does not provide investment advice.
