Toyota Sequoia Popularity: Is the Glass Half Full or Half Empty?
The Sequoia has been a dependable family hauler since its 2001 debut. This burly SUV is fun and reliable, but it’s never been the most popular in its segment. However, recent Toyota Sequoia sales numbers are on the upswing.
What do recent Toyota Sequoia sales numbers look like?
While sales for Q1 2023 have improved, there is a downside. The Sequoia sits in last place in the segment, with only a 4% market share. It lags behind the GMC Yukon, Chevy Tahoe, Chevy Suburban, Ford Expedition, Nissan Armada, and Jeep Wagoneer.
Starting at $59,865, the 2023 Sequoia is among the best family SUVs. Toyota completely redesigned it for the current model year. It boasts a rugged yet modern look and an efficient hybrid powertrain pairing a 3.4-liter V6 engine with an electric motor for 437 hp. So it’s surprising that the Sequoia is last in the segment.
Sequoia sales figures can be viewed through 2 lenses
Sequoia sales are higher, which can be viewed through a positive lens. However, its market share remains low, so that’s a negative. The redesign has likely contributed to this SUV’s improved popularity. So, why are most consumers still choosing other models?
The significant reasons appear to be interior space and pricing.
“I am very interested in the new Sequoia, but I am reading different things regarding its size/space limitation and overall price compared to the Tahoe,” one shopper shared on a 2023 Toyota Sequoia Facebook page.
“Even though this SUV boasts an MSRP of $70-90k, you can expect dealers to put their window sticker well over that,” Torque News reports.
Another consumer wrote, “I’ve been out on the Sequoia for a while. Don’t like the exterior styling (except for TRD Pro). I’m [not] feeling the interior materials, and they lost me with the cargo space and third row. I got a 2022 Tahoe that I love!”
How can Toyota seize on the Sequoia’s momentum?
So, what can the automaker do to increase the Sequoia’s market share? The answer seems simple: Consider why consumers choose comparable SUVs and adjust accordingly. Toyota can build on the updated model’s momentum by providing more passenger and cargo space and lowering the Sequoia’s price. The company could continue increasing sales by adding more perceived value to its full-size SUV.
But that’s easier said than done.