Toyota’s strategy: Achieve maximum profits with strong HV sales
・Toyota’s HV sales are booming in Europe and America
・Tesla to cut prices due to poor EV sales
We bring you a summary of Hisashi Katsumata’s World View article.
Toyota’s HV strategy:
Toyota always calmly predicted the movements of HVs.
Toyota continued to expand its HV lineup without delving too deeply into EVs.
As a result of these efforts, HV has now blossomed in Europe and America.
oyota’s EV strategy:
Toyota will launch the world’s first all-solid-state battery EV in 2027.
Toyota’s strategy is coming true.
Reuters: (February 6)
We published an article entitled ‘Toyota leads the way as EV penetration slows down, HV sales are strong’.
Modesto, California: Tony Lee (37)
Last year, while choosing a new car with his wife, he considered EVs such as Tesla.
However, what I ended up buying was Toyota’s SUV/RAV4 HV.
Reasons for purchasing HV:
1. I often drive long distances to Washington state.
2. Your EV battery may run out and you may be stranded on the way.
EV sales in Europe and America are sluggish:
EVs in Europe and the US are expensive and rely on subsidy systems.
With the abolition of the subsidy system, rivals lowered their production targets and suffered sluggish sales.
Toyota’s HV sales in the US:
Toyota’s Camry is America’s best-selling sedan!
It was announced that the next model will be HV only.
‘Walther Toyota’, Minnesota: Greg Davis
Increase the HV sales ratio from the current 40% to 50%.
In the Midwest, EVs are not widespread. Demand for HVs is extremely strong.
Toyota’s minivan ‘Sienna’ has a one year wait for delivery and no discount
Tesla EV discounts in the US:
Tesla has seen significant price cuts since last year in major markets including the US and China.
Last week, CEO Elon Max announced that profit margins would shrink this year due to slowing demand for EVs.
In the United States, demand for EVs has switched to HVs.
S&P Global Mobility Analysis:
The HV ratio of new US cars (January to November) was 9.3%, 1.8 points higher than the EV ratio.
US HV sales ranking:
Toyota HV: No. 1 with 30% market share.
Honda’s HV: 2nd place with 20% market share.
Hyundai Motors and Kia Motors,
Ford Motor Co., Ltd.
Toyota: Chairman Akio Toyoda
Mr. Toyoda expressed his views on EVs in a speech in January.
1. Even with all-solid-state battery EVs, the share of EVs is only about 30%.
2. HVs, fuel cell vehicles, hydrogen engine vehicles, etc. are used depending on the purpose.
Toyota’s multi-pathway strategy
Needs differ depending on the country and region. Toyota has a multi-pathway strategy.
https://hisayoshi-katsumata-worldview.com/archives/34980016.html
Germany’s SAP: Stops hiring Teslas as company cars
We will provide you with a summary of articles published on Bloomberg.
February 6, 2024
1. SAP fleet manager: Criticizes Tesla’s repeated price cuts
2. Rental cars ‘Hertz and Sixt’: Tesla car purchases to be canceled
German software company SAP:
Tesla will stop providing Tesla cars to employees due to repeated price cuts.
Tesla’s prices are more volatile than other manufacturers, increasing risk.
Rental car ‘Hearts and Sixt’:
I stopped buying Tesla cars after Tesla lowered their prices.
Price cuts reduce the resale value of used Tesla cars.
Increased depreciation risk hurts rental car companies.
https://www.bloomberg.co.jp/news/articles/2024-02-05/S8EGEBDWX2PS00
European EV market: Defeated by HV, worsening in 2024 as well
We bring you a summary of articles published in Business Insider Japan.
European Automobile Manufacturers Association: (ACEA)
In 2023, EU new car registrations will increase by 13.9% from the previous year to 10,547,716 units.
Sales exceeded 10 million units for the first time in four years (Chart 1)
Hybrid vehicle (HV)
HVs became the driving force behind the European market recovery.
HVs increased by 29.5% from the previous year to 2.72 million units, accounting for 26% of the new car market.
EV sales stagnate:
Looking at quarterly trends, EV sales have slowed down (Chart 2)
New car sales in the fourth quarter of 2023 will slow down for the second consecutive quarter, increasing by 5.5% from the previous year.
Impact of subsidy cuts:
In December, subsidies were discontinued in Germany, one year earlier than planned.
New EV vehicle registrations in Germany in December decreased by 47.6% from the previous year, halving from 2022.