Toyota and six other Japanese automakers expect new car sales in the U.S. to reach 5.88 million in 2024

Data released by Toyota and six other Japanese automakers on January 3 showed that new car sales in the United States in 2024 increased by 6% year-on-year to 5,882,438 units, exceeding the previous year for two consecutive years. In the United States, due to the slow progress in the popularization of pure electric vehicles (EVs), the demand for hybrid vehicles (HVs) with excellent fuel efficiency and economical performance has increased. Toyota, whose main business is HV in the United States, increased by 4%.

Toyota’s sales in the United States in 2024 increased by 4% to 2,332,623 units. Among them, the proportion of electric vehicles such as HVs reached 43%, and sales hit a record high. If the high-end car brand “Lexus” is included, Toyota’s market share in the United States is close to 60%. In the United States, Toyota has added HV-only models, and the new “Camry” as a HV-only model is selling well.

Toyota’s public relations director said in an interview with the “Nikkei” (Chinese version: Nikkei Chinese Network), “I look forward to continuing to maintain a strong sales trend in 2025 with excellent HV as the center.”

Honda’s sales in the U.S. increased by 9% to 1,423,857 units. The proportion of electric vehicles such as HVs was 25%. Honda plans to increase investment in pure electric vehicles and promote local production in North America from 2025. On the other hand, the HV product line is also increasing, and a new HV of the sports car type will be sold in the second half of 2025.

Nissan Motor secured a 3% increase, but sales growth stagnated due to the lack of HVs, which are popular in North America, and the small number of new models. In December 2024, Nissan and Honda launched management integration consultations amid increasingly fierce competition with pure electric vehicle giants and autonomous driving start-ups. In addition to restructuring bases in North America, whether the product lineup including HVs can be expanded will also become a focus.

Mitsubishi Motors’ sales in the U.S. increased by 26% to 109,843 units, a significant year-on-year increase. The Outlander SUV, which is the main model, has strong sales, and plug-in hybrid vehicles (PHVs) are also popular. In addition, Mazda increased by 17% and Subaru increased by 6%.

General Motors (GM), which also announced its sales performance on January 3, saw its sales in 2024 increase by 4% to 2,705,080 units, maintaining its top sales in the United States. Ford Motor increased by 4% to 2,078,832 units. HV sales increased by 40%, playing a driving role.

In the United States, the proportion of HVs is increasing. According to data from Cox Automotive, a US research company, the proportion of HVs in the United States from July to September was close to 10%, a record high.