New plug-ins enter the market: Toyota RAV4 Prime, Lexus UX 300e and Toyota Proace EV.
Toyota group (Toyota and Lexus brands) sold 715,081 cars in Europe (down 15% year-over-year) during the first nine months of 2020 and improved its market share from 5.3% to 6.1% (as the market is down 25%).
The most interesting thing is that the Japanese manufacturer keeps selling more and more hybrids, which now stand for 52% of the total volume. In Western Europe, it’s 63%.
We appreciate the electrification, but of course we are here not to rave about the hybrids. We are all-in for plug-ins (with an eye on hydrogen fuel cell vehicles), and here is what we see:
2021 Toyota RAV4 Prime Toyota PROACE Electric
Toyota PROACE Electric
That’s really marginal volumes. The good news is that three plug-ins are entering the market:
We are aware that it’s not a massive shift and the approach in terms of volume might still be minimalistic, but at least we see new models and hopefully it will expand from there.
Toyota group detailed results – Q3 2020
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