News Article

Toyota México Expects 20% of its Sales to be Electric or Hybrid

By Alejandro Enríquez | Thu, 04/15/2021 - 08:01

“I strongly believe this year will be much better than 2020 for everyone: our families, our employees, our dealers and our customers,” said Tom Sullivan, President of Toyota Motor Sales de México. The company announced its 1Q21 results, as well as the company’s targets for the rest of the year.

Sullivan mentioned that an electrification and hybrid strategy will play a key role in the upcoming months. “We understand that the world is a diversified territory and some countries will be able to adopt new electric vehicle technologies faster and more easily than others. However, Toyota plans for 20 percent of the company sales in 2021 to come from electrified and hybrid vehicles,” said Sullivan. According to the company, Toyota has sold 6,000 of these vehicles in 1Q21, which represented 27 percent of its sales in the quarter. 

The company’s target for 2021 is to sell more than 80,000 units throughout the year. If the 20 percent mark is reached, that will mean 16,000 electric and hybrid units to be sold in 2021. “We remain flexible and pay close attention to the market. We continue to see an automotive sector of more than 1 million new units for this year and we see 2021 as a year of recovery,” said Guillermo Díaz, Operations Vice President at Toyota Motor Sales de México.

Toyota continues to be Mexico’s market leader in the green-vehicle segment. Recently, the company introduced Sienna 2021, the first hybrid van in the country. “Sienna is the first hybrid minivan in the country. We have sold 900 units so far, and I am confident to say we can reach the goal of selling 7,000 units in Mexico by the end of the year.”

In 1Q21, the company reached sales of 21,583 units, according to INEGI. This placed Toyota as the fourth-largest brand by sales with a market share of 8.44 percent. In 2020, the company sold 76,577 units, while pre-pandemic levels were at above105,000 units from 2016 to 2019. Toyota’s Top 5 models in the quarter were the Hilux pickup, the Rav4 SUV, the Avanza van, the Corolla sedan and the Prius C hybrid.

Toyota’s growth strategy is based on five pillars: offering more sustainable vehicles, offering the safest vehicles in the Mexican market, being the best brand in terms of dealership profitability, assuring sustained growth and offering the best aftersales and customer service. “Every day, we are reminded of our Toyota way,” said Sullivan.

During the press conference, Toyota also revealed a limited edition of the new GR Yaris. Mexico joins other European countries that will have access to this model with only 300 units available for the country. Presale starts tomorrow on the company’s website.

Alejandro Enríquez Alejandro Enríquez Journalist and Industry Analyst