Toyota’s impressive hybrid surge: electrified Sequoia and Tundra sales soar by 18% and 27%
Toyota’s hybrid trucks and full-size SUVs are on fire. The Tundra–with its new hybrid engine–enjoyed a sales surge of 27%, while the Sequoia Hybrid climbed nearly 18% in 2024. Toyota isn’t just selling hybrids—it’s dominating with them.
“2024 electrified vehicle sales of 1,006,461 – an all-time best ever – up 53.1 percent,” Toyota reported. Nearly half of the company’s U.S. sales were hybrids. But pure EV sales? Not so hot.
Toyota’s hybrid strategy is paying off
Toyota’s hybrid-first strategy is working. While competitors push full EVs, Toyota keeps winning with hybrids. “The San Antonio-made hybrid Sequoia SUV and Tundra pickup also had banner years,” a report confirmed.
Hybrid trucks aren’t just selling—they’re outselling some competitors’ full-size models. “Tundra sales are growing (15% for the first eight months),” reports Autoweek. “Its Detroit rivals are down for the same period—18% for Ram 1500, 15% for GMC Sierra, 11% for Chevrolet Silverado, and 10% for Ford F-Series.”
Toyota is leaning into hybrids as gas prices and EV skepticism hold back both traditional ICE vehicles and fully electric options. “The RAV4 Hybrid alone surged 29.3%, while the Tundra Hybrid jumped 22.1%,” the automaker said. Even Toyota’s luxury arm is in on it—Lexus hybrid sales climbed 41% in 2024.
Why is Toyota sticking with hybrids?
Toyota believes hybrids are the sweet spot between old-school gas power and the all-electric future. “Our multi-pathway powertrain approach continues to attract customers, meeting their lifestyles and budgets,” said Jack Hollis, TMNA’s executive vice president.
Instead of rolling out EVs at breakneck speed, Toyota is taking its time. “Our teams are working with suppliers and dealers to prepare for a busy 2025,” Hollis said. The company is launching 24 new models and ramping up battery production at its $13.9 billion North Carolina facility. But its taking its time.
Toyota knows it can’t avoid EVs forever. “Toyota is working on the EV front—slowly,” I previously wrote. While its hybrid strategy is crushing it today, the real test is whether Toyota can translate that success into competitive EVs down the road.
Will hybrids keep Toyota ahead?
The hybrid playbook is winning, but for how long? “The bZ4X? Toyota claims it enjoyed a 99% increase in 2024—which sounds impressive until you realize that’s because it only sold 9,329 in 2023,” I previously noted.
Right now, Toyota’s hybrid trucks are crushing it. But the future is still up for grabs. If Toyota doesn’t nail its EV game soon, today’s hybrid boom could turn into tomorrow’s missed opportunity.
