Automotive News Europe — 2023-12-12
Automotive Industry
Toyota expects to increase its vehicle sales in Europe in 2024 despite an overall flat market and supply constraints on hybrid batteries.
The automaker will finish this year with around 1.17 m Toyota and Lexus vehicle sales in its European market, according to Toyota Europe's chief operating officer, Matt Harrison.
Harrison said the sales boost next year will come from the new Toyota C-HR small crossover, which has just gone on sale, the new Lexus LBX small SUV due next year and the expansion of its commercial vehicle lineup.
"We are very confident of continued sales growth [in 2024] despite what we expect to be a flat market," Harrison said at a media event here.
Toyota will go into 2024 with an order bank of around 300,000 vehicles in Europe as it continues to reduce a backlog following problems securing supply of hybrid batteries.
"We will have constraints in terms of battery capacity this year and also next year," Andrea Carlucci, head of product and marketing, told Automotive News Europe. The problem is gradually easing, he said.
Problems securing enough hybrid batteries is one reason that European sales of the RAV4 fell 21% across Europe this year, Carlucci said.
The RAV4 lost its lead to the Volkswagen ID4 and Skoda Kodiaq in the midsize SUV segment in the first 10 months, according to figures from market researchers Dataforce.
Sales of Toyota's Corolla compact car declined by 1.3% in an overall market that rose 16%.
Toyota's European market share has dropped to 6.5% so far this year from 6.9% last year after the market recovered at a faster pace than Toyota sales, according to ACEA data.
Despite Toyota's supply problems, the automaker's expected volume of 1.17 m in Europe this year will be one of its best years in the region. The company’s European sales record is 1.23 m sales in 2007.
Since the 2007 record, Toyota has suffered the loss of the Russian market, which it pulled out of in 2022 following the country’s invasion of Ukraine. The company sold 125,992 cars in Russia in 2019, according to its figures.
Toyota current European region includes Turkey, Ukraine and Kazakhstan.
Lexus boost
The Lexus LBX will add 25,000 sales to the Toyota’s European total in 2024, the company forecasts. The model will be the premium brand’s cheapest offering yet, with a starting price of €32,990 in Germany.
Meanwhile, Toyota will add the Proace Max large van to its commercial vehicle lineup in 2024 after expanding its supply agreement with Stellantis. The Proace Max is a restyled addition to the van range that includes the Peugeot Boxer and Opel/Vauxhall Movano. The Toyota model will include a battery electric version.
Toyota said it will sell 140,000 commercial vehicles this year in Europe, with a goal to expand that to 180,000 by 2025.