Toyota has published its monthly and quarterly results, revealing a decline in overall sales despite its surprisingly strong electric vehicle numbers.
The automaker sold 469,558 units in the U.S. during Q1, a drop of 8.8% or roughly 45,300 vehicles from the same period last year. In March, Toyota sold 176,456 cars, a drop of 9.1% or approximately 17,600 units. However, the company’s Lexus sales gained 12.1% in March and 6% for the entire quarter.
In its report, the automaker noted that Q1 was the best so far in terms of EVs. Out of its 469,558 total vehicle sales, 25.3% or roughly 118,800 were hybrid or electric. In March alone, Toyota sold 48,500 electrified cars, 27.5% of its 176,456 total. “With 22 electrified vehicle options between both the Toyota and Lexus brands, the most among any automaker, we’re giving customers a choice that fits their lifestyle, pocketbook and needs,” said Jack Hollis, Toyota’s North American Executive Vice President of Sales.
Like most automakers, the Japanese brand has struggled with supply chain and production disruptions for the last three years. However, while other companies are posting positive year-over-year growth for Q1, Toyota seems to be facing a more difficult road to recovery. While its electric lineup has since expanded rapidly, the business also ignored the EV market longer than its competitors, as its former chief, Akio Toyoda, believed that the segment would grow much slower than expected. As of this month, Toyoda has stepped down from his position at the company, replaced by Koji Sato, who has promised to further ramp up electrification plans.
