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Toyota Motor North America (NYSE:TM) released March 2024 U.S. vehicle sales data.
Sales showed substantial growth of 21.8% y/y to 214,894 units.
Electrified vehicle sales in March increased approximately 61% year over year, totaling 78,157 units. This represented 36.4% of Toyota’s total sales volume that month.
For the first quarter, Toyota Motor North America reported total sales of 565,098 vehicles, an increase of 20.3 percent compared to the same period last year.
In terms of vehicle types, auto sales showed robust growth, up 36.2% in March and up 31.2% in the quarter.
Sales of trucks, including SUVs, also showed good growth, rising 16.1% in March and 16% in the quarter.
The Toyota division reported strong March sales of 184,123 vehicles, up 22.7% year over year.
In the quarter, Toyota division sales increased 21.3% y/y to 486,627 vehicles.
The Lexus division also reported strong results, with March sales of 30,771 vehicles, up 16.7 percent, and first-quarter sales of 78,471 vehicles, up 15 percent year-over-year.
Several models, including Prius, Prius Prime, Camry HEV, Crown and RAV4 HEV, posted strong triple-digit earnings in the first quarter.
Total RAV4 sales increased 45.1% in March and 47.4% in the first quarter, while 4Runner sales increased 70.4% in March and 60.2% in the first quarter.
Sienna sales also saw a significant increase of 53.2% in the quarter, while Tundra sales increased 41.3% in March and 31.0% in the quarter.
“With our diverse portfolio of 27 electrified vehicle options across the Toyota and Lexus brands, customer demand for our products continued to grow in March and the first quarter,” said Jack Hollis, executive vice president, sales, TMNA . “Our teams are preparing to launch more than 20 new, updated or special edition vehicles later this year, including the all-new 2024 Tacoma with an available hybrid powertrain, as well as the all-new 2024 Land Cruiser and 2025 Camry, both exclusively with hybrid powertrains, offering even more electrified options that adapt to customers’ lifestyles and needs.”