- Toyota expects these E-vehicles to make up more than 20 per cent of new car sales in the region.
- Toyota unveiled two new concepts for models it plans to sell in the region later this decade.
Toyota Motor has said it would increase its line-up of battery electric vehicles in Europe to six models by 2026. The firm also expects that such vehicles will make up more than 20 per cent of new car sales in the region by 2026. In a statement, Toyota Motor disclosed that it expects to sell more than 250,000 battery-powered vehicles annually in Europe by 2026, seeking steep growth in a market where rivals have long overtaken it.
The statement stated that Toyota unveiled two new concepts for models it plans to sell in the region later this decade. One is a concept model for a battery-powered small SUV that it plans to launch in Europe in 2024. The other is a concept for a sports crossover model scheduled for introduction in 2025.
According to data from the European Automobile Manufacturers Association, Toyota had the fifth-biggest total auto market share in the EU for the ten months through October. Its share declined slightly from the previous year to just under 7 per cent. Battery-powered vehicles accounted for 1 per cent of Toyota’s worldwide sales of about 8.5 million vehicles over the first ten months of the year, including those of its luxury Lexus brand.