Toyota Australia could break its own sales record if rapid growth continues into 2024, after passing two key milestones last month.
The 23,389 vehicles sold by the Japanese giant in Australia throughout May was the highest monthly total since December 2020, where even amid the COVID-19 pandemic, the company delivered 23,470 vehicles to customers. .
The company’s year-to-date sales have also reached the 100,000 mark, with 100,398 cars sold from January to May.
This represents a significant increase of 40.8% compared to the 71,287 cars sold at the same time last year, but may also indicate that the company is on track to reach a new industry record.
The last time Toyota surpassed the 100,000 vehicle sales mark was in 2008, when it sold 101,816 vehicles from January to May of that year.
The company then went on to set new car sales records in Australia, delivering 238,983 vehicles to customers throughout the year.
It never reached those heights again, thanks in part to the Global Financial Crisis.
However, its momentum has been building globally and Toyota has set a target New sales record worldwide last year with 11,233,039 vehicles sold in 2023.
The increase in sales in Australia this year was driven by Toyota Hilux ute (of which 22,885 have been sold to date, up 9%) and RAV4 SUV, then achieved sales of 21,498 units – an increase of 101.6% over the same period in 2023.
The RAV4 set its own monthly sales record in April with 5,857 units sold, a result that was bolstered by last month’s strong results.
Sean Hanley, Toyota Australia vice president for sales, marketing and franchising, said the automaker’s strong orders for the RAV4 and improved supply were driving the boom. The boom in deliveries is expected to continue through June.
Mr. Hanley told Australian media early this morning: “On the RAV4 hybrid alone, the order bank at one stage reached tens of thousands.”
“I think you’re starting to see that in the results that we’re delivering on a monthly basis, that we’re going to be just as strong in June.
“We know supply is coming and that will lead to a recovery in hybrid vehicle sales.”
“Goods continue to arrive and orders continue to remain high. The RAV4 order bank is definitely dwindling, but demand for that vehicle remains very good, even as of last month.”
Earlier this year, the executive predicted the new auto industry could return to normal with sales of about 1.05 million to 1.1 million vehicles in the calendar year.
While conceding a pause after the end of the financial year could still result in slower sales, Mr Hanley said the overall figure could be closer to 1.2 million or 1.3 million.
“I’m still thinking 1.2 (million), but if you look at the raw number, it goes up to 1.3 (million), right?”, Mr. Hanley said.
“I don’t want to discount the market because obviously I was cautious with my initial thinking, but I still think 1.2 (million) would be very healthy.
“I only think about the second half [of 2024] there will be a different dynamic than the first half.
“I can’t see it continuing with the momentum we saw in the first half. This month it will continue again and I think it will gradually decrease.”
Toyota set another monthly record for hybrid vehicle sales in May, with electric-assist gasoline models accounting for 11,440 units or 48.9% of total deliveries.
Up to now, the company has sold 46,821 hybrid cars, more than double the 21,266 units it sold in the same period in 2023.
Early this morningToyota Australia has announced it will no longer sell petrol-only versions of its hybrid models, meaning its entire passenger car and crossover range with the exception of its performance models is hybrid-only.
