While Toyota’s bZ4X sales nearly doubled last year, the automaker remains trailing in the US electric vehicle market. In a surprising turn of events, foreign competitors such as Hyundai and Kia are rapidly gaining ground on market leader Toyota. Despite being a major player in the global automotive industry, Japanese rivals Honda and Nissan are actually outpacing Toyota in terms of electric vehicle (EV) sales in the US market.
Toyota’s bZ4X electric vehicle (EV) struggled to gain traction in 2022, with gross sales trailing those of its US-based EV competitors.
Toyota announced that it has sold more than one million electrified vehicles in the US market during 2024. Despite this, its versatility in blending styles is largely responsible.
By the end of December, Toyota had sold a total of 18,570 units of its BZ4X hybrid SUV, with 1,854 models purchased that month alone. Despite a 99% increase to 18,558 units sold, the company still lags significantly behind its rivals.
To gain perspective on the scale of Honda’s electric Prologue sales, consider that since its debut in late March, the company has already sold over 33,000 units in just one year. By December, Honda had acquired nearly 7,900 Prologues, a significant milestone in their procurement process. Between January and June 2024, Honda purchased an average of approximately 5,000 electric SUVs every month.
Nissan secured a surprising victory by selling nearly 19,800 units of its popular Ariya electric SUV in the last year, outpacing arch-rival Toyota. In 2024, Nissan’s aging LEAF electric vehicle saw a significant resurgence in popularity in the US market, with 11,226 units sold, representing a 57% increase from the previous year’s figures.
Despite having a $10,000 higher price tag, Kia’s inaugural three-row electric SUV, the EV9, managed to outstrip sales of Toyota’s bZ4X in its first year on the market. Since deliveries of the EV9 began in late 2023, Kia has recorded impressive sales, boasting over 22,000 units sold in the US market alone last year?
Following their success in reporting record-breaking US gross sales figures last year, Hyundai and Kia are now actively seeking to expand their electric vehicle (EV) market share by 2025. Hyundai has commenced production at its newly established electric vehicle (EV) factory in Georgia, where it will assemble cutting-edge models like the revamped 2025 IONIQ 5 and the soon-to-be-revealed three-row IONIQ 9.
Hyundai Motor is now eligible for the $7,500 federal tax credit on five electric vehicle models, following Kia’s production of EV9 styles at its West Point plant and Genesis Electrified GV70 in Alabama, potentially boosting demand further?
Toyota cuts the 2025 bZ4X’s price tag by a whopping $6,000, aiming to make its all-electric SUV even more competitive in the market. Starting at a competitive $37,070, the 2025 Toyota bZ4X edges out rivals like the 2025 Hyundai IONIQ 5 ($42,500) and Nissan Ariya ($39,770), offering an attractive entry point for eco-conscious buyers.
While Honda hasn’t officially announced the pricing for its 2025 Prologue, industry insiders predict that it will be a significant departure from previous models. The all-new 2024 Honda Prologue starts at a Manufacturer’s Suggested Retail Price (MSRP) of $47,400.
Electrek’s Take
Like many other automakers, Toyota is pushing ahead with its main electric vehicle (EV) projects, including its first three-row electric SUV. The delay allowed foreign rivals, such as Hyundai and Kia, to seize the opportunity.
Toyota has cancelled plans to manufacture new Lexus electric SUVs in North America, further scaling back its electrification efforts. The brand-new Lexus EV models may potentially be imported from Japan to cater to local demand and capitalize on the growing interest in electric vehicles.
The corporation is poised to launch battery production at its newly built $13.9 billion facility in North Carolina, a move designed to accelerate the growth of electric vehicle sales. By the midpoint of 2026, Ford plans to commence construction on a larger electric sport utility vehicle at its manufacturing facility in Georgetown, Kentucky.
Japanese automakers’ electric offerings continue to gain momentum as superior new EV batteries arrive soon, boasting significantly increased range and rapid charging capabilities at a lower cost. As speculation surrounding their impending release continues to swirl, the million-dollar question remains: When will they finally make it to store shelves?
Toyota has long committed to developing cutting-edge electric vehicle (EV) battery technology. By 2027, the corporation plans to debut two innovative battery offerings: Efficiency and Popularized, boasting an impressive range of nearly 500 miles (800 km) under WLTP testing conditions. By 2028, Toyota intends to debut solid-state electric vehicle (EV) batteries, with large-scale production set to commence in 2030.
Will it’s sufficient? Can Toyota really catch up with the electric vehicle revolution now that others have gained a head start? The supposed task requires a professional editor to improve the given text in a different style while maintaining the original tone and intent. The editor must analyze the content, structure, and language to enhance its clarity, coherence, and overall effectiveness without changing the author’s message or perspective.
