Toyota Canada's Electrified Vehicle Sales Soar in 2023, Setting New Records

Toyota Canada Inc. (TCI) celebrated a landmark year in 2023, marking a significant shift in the automotive landscape towards electrified vehicles. The company's sales soared, with a total of 227,460 vehicles sold throughout the year. Notably, electrified vehicles played a crucial role in this success, accounting for 43.9% of the company's overall vehicle sales, a clear indication of the growing consumer preference for environmentally friendly options.

Nearly 100,000 Units Sold

In a year marked by robust sales, electrified vehicles stood out as the frontrunners. Toyota sold an impressive 99,824 units, marking a staggering 92.8% increase compared to the previous year. This surge in sales reflects a broader trend in the automotive industry, as consumers increasingly seek out sustainable and efficient transportation options. Of these, 82,668 were Toyota-branded electrified vehicles, representing 42.1% of Toyota's total sales for the year. The demand for these vehicles highlights a significant shift in consumer preferences towards more eco-friendly and efficient modes of transportation.

The fourth quarter of 2023 was particularly notable for TCI, with electrified vehicle sales reaching a record-breaking 24,533 units, up 96.7% year over year. This remarkable performance contributed to the company's overall sales of 58,989 units in the quarter, up 30.6% from the same period in 2022. The surge in electrified vehicle sales underscores a growing consumer interest in sustainable and innovative transportation solutions.

Impressive Toyota Hybrid Vehicle Sales

Looking at specific models, the Toyota RAV4 continued to lead the pack as Canada's best-selling passenger vehicle, with a total of 74,688 units sold in 2023. This figure includes 30,741 RAV4 Hybrids and 8,208 RAV4 Primes, with the latter experiencing a phenomenal 423.8% increase in sales year over year. The Toyota Corolla also maintained its position as Canada's best-selling car, selling 29,260 units, including 9,676 of the hybrid variant. These models, with their impressive sales figures, underscore Toyota's commitment to offering a diverse range of vehicles that cater to various consumer needs and preferences.

Another notable achievement was the strong performance of Canadian-made vehicles. The RAV4, assembled in Canada, reached record sales in 2023. This success not only underscores the quality and appeal of these models but also highlights the significance of Toyota's manufacturing presence in Canada. In 2023, Toyota Motor Manufacturing Canada assembled 525,787 vehicles, a testament to the company's commitment to Canadian craftsmanship and the local economy.

Larry Hutchinson, President and CEO of Toyota Canada, expressed gratitude towards the customers for their continued trust and support. He also acknowledged the dedication of dealers and their staff in meeting the needs of Canadian consumers.

As Toyota Canada strides into 2024, the company's focus on electrified vehicles is expected to maintain its momentum. With the growing demand for sustainable transportation solutions and the company's commitment to innovation and quality, Toyota is well-positioned to continue leading the way in Canada's automotive industry.