Japanese automaker Toyota Motor Corp TM on Monday said that it sees battery electric vehicle sales exceeding 250,000 per year by 2026 in Europe with an expanded lineup of six battery electric vehicles.
What Happened: At the company's annual Kenshiki forum in Brussels, Toyota previewed an Urban SUV Concept and a sport crossover concept in addition to its bz4X that is already on sale and the Compact SUV concept unveiled at last year’s forum. While one is a concept for an SUV expected to enter production next year, the other is for a model expected to enter production in 2025.
In Europe, Toyota's electrified mix is already at 71% and is expected to grow to 75% in 2024. By 2026, Toyota sees its European BEV mix to be over 20%.
Why It Matters: In October, Toyota reported record October sales and production numbers worldwide on the back of strong demand in North America and Europe. The automaker sold 970,313 vehicles globally including sales from its units Daihatsu Motor Co and Hino Motors Ltd, marking a jump of 5.6% year-on-year.
In Europe, 93,648 Toyota vehicles were sold, including those of its brand Lexus, marking a 15.2% jump from October last year. The increase in sales was a result of strong sales of the Yaris, Corolla, and RAV4 in addition to solid demand.
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
