Toyota Chairman questions EV future and says “Time will prove us correct”

Toyota is the top selling car brand in the world for the fifth consecutive year, thanks to its commitment towards hybrid vehicles. However, the former CEO and Chairman continues to doubt electric cars.

Toyota, on the other hand, is increasing its hybrid production. While most automakers are rushing to produce electric vehicles (EVs), Toyota is investing more in hybrids. According to Mundo Deportivo, in 2024, 41 per cent of all Toyotas sold were electrified – mostly non-plug-in hybrids – and it seems to be working.

Toyota dominates global and European markets

• Toyota’s global sales in 2024 will be 10.8 millions vehicles, retaining its top position in the auto industry for the 5th consecutive year.
• Toyota Motor Europe has achieved a 4 percent increase in sales of Toyota and Lexus cars in Europe.
• Sales in Spain: In Spain 2024, Toyota sold 103,627 vehicles.

Toyota’s financial dip despite sales success

The total sales of the group declined by 3.7 per cent in 2024 despite a record year for global sales. Toyota has warned about financial pressure due to increased market challenges and investment. Toyota has forecast a 21 percent drop in operating profit for FY2025, citing increased costs and U.S. duties, according to Financial Times.

Toyota’s former chief executive’s view on electric sports vehicles

Akio toyoda is the former CEO of Toyota Group and now chairman of Toyota Motor Corporation. He has been very clear about his stance towards EVs. Toyoda stated that a “sports car” is a vehicle with a loud engine and a gasoline smell. Automotive News.

Toyota will not build an electric sports vehicle until “affordable” batteries are available. He is also skeptical about the demand for electric cars.

Toyoda, Toyoda, has stated that the EVs won’t exceed a quarter of global car sales. Xataka.

Toyota’s hybrid plan is at risk due to the EU deadline for electric cars

Toyota’s strategy may be in trouble, as the EU has mandated that all new cars sold by 2020 must be electric. Although the company has introduced electric models such as the bZ4X it is still heavily focused on its hybrids.

Launch of the bZ4X was hampered by high costs, early safety issues and wheels that fell off. Toyota’s Camry Hybrid continues to perform well and reduce fuel consumption by up to 50% in cities according to Australian tests, reported by Daily Mail.

Toyota’s hybrid model is a hit, but it’s also a gamble.

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