Toyota HV: Dominates top 3 in UK
・EV stalls. Just as Toyota says!
・Even “EV-developed countries” support HVs
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Insurance Broker Howden:
The other day, we announced a ranking of the most popular EVs in the UK.
Analyzed new car registration data (January-September 2023) from the Driver and Vehicle Licensing Agency (DVLA) and the Ministry of Transport.
British Express (March 22, 2024)
Surprisingly, from 1st to 4th place, all were HVs.
Top 5 sales ranking:
Although the UK is an advanced EV country, this result was somewhat surprising.
1st place: Toyota Yaris (HV) 518,500 units
2nd place: Toyota Prius (HV) 343,507 units
3rd place: Toyota C-HR (HV) 296,209 units
4th place: Kia Niro (HV) 288,130 units
5th place: Tesla Model 3 (EV) 273,622 units
UK new car sales regulations:
Sales of new cars will be regulated in the UK from 2035.
Sales of new gasoline and diesel vehicles, as well as HVs and PHVs, will be prohibited.
The UK is an “EV advanced country”:
The UK has progressed as an “EV-advanced country” through national policy. However, recently there has been a decline in that momentum.
1. Public charging infrastructure for EVs is insufficient
2. This is why EV prices remain high.
Toyota’s HV sales are booming:
No matter what investors or environmental groups say, Toyota is
1. HV is a practical solution for consumers.
2. EVs are expensive, and consumers are hesitant to buy them.
Rapid increase in HV sales:
In 2022, it was 2.6 million units, but in 2023 it will be between 3.4 million and 3.5 million units.
For just 1 year, the number of HVs around the world has increased by nearly 1 million.
HV sales in the third quarter reached 951,000 units, an increase of 47% compared to the same period last year.
Toyota’s claim: Chairman Akio Toyoda
1. He said in January 2024 that the EV share will peak at 30%.
2. FCVs and engine vehicles account for the remaining share.
Toyota: Yoichi Miyazaki (CFO)
By around 2025, it is likely to reach 5 million units.
Toyota has revised its annual operating profit forecast upward from 4.5 trillion yen to 4.9 trillion yen.
The high profitability of Toyota HVs is contributing to this.
SMMT: British Motor Manufacturers Society
The number of new car registrations in the UK from January to February 2024 is as follows.
・EV：15.8%
・PHV：7.9%
・HV：13.0%
Toyota HV has a good reputation:
British consumers are choosing Toyota HV.
The battery is large and expensive. On the other hand, it can be charged at an outlet and can travel for several tens of kilometers on electricity alone.
Morgan Stanley: Adam Jonas
1. Based on government regulations and consumer orientation, we predict that the HV market will soon become obsolete.
2. February 2024: ”I have to apologize to Toyota,” admitted the error in the prediction.
Site Edmunds: Jessica Caldwell
1. Consumers may have felt that HVs were “half-baked.”
2. Consumers didn’t find HVs to be “sexy or cool.”
US manufacturers’ counterattack:
Until now, many American manufacturers have prioritized EVs.
For GM:
GM makes almost no PHVs.
In January 2024, we announced that we would be working on PHV from now on.
The consumer admitted that he had refused to charge his EV for a long time.
For Ford:
They were producing HVs with the understanding that they were just a temporary technology.
HV sales volume in 2024 will increase by 40%. Twice the pace of 2023.
Ford: Jim Farley (CEO)
In February 2024, he told investors:
HV proved to be the most popular for many customers.
1. The United States is likely to become the main battleground for HVs in the future.
2. Although influenced by the government, HV’s popularity has increased.
Longo Toyota: President Doug Aerault
In 2023, HV accounted for 42%. In 2024, HV will easily exceed 50%.
1. Even if customers consider EVs, many customers end up choosing HVs.
2. This is because the price is low and you don’t have to worry about charging issues.
It will be easier to own an EV in the future, but the time is not yet.
https://news.yahoo.co.jp/articles/f9f847fb0522b39e854a094460ba42e231804b65