Toyota Motor Korea seeks stronger sales growth with hybrid lineup – Beragampengetahuan

Toyota Motor Korea’s fifth-generation Prius hybrid vehicles / Courtesy of Toyota Motor Korea

By Lee Min-hyung

Toyota Motor Korea is seeking to achieve stronger sales growth this year with a reinforced hybrid-driven strategy, the company said Monday.

The Korean subsidiary of the Japanese carmaker is on course for a rebound here after setting a symbolic sales level of more than 20,000 in 2023, for the first time in four years since 2019.

The company is seeking to extend its winning streak this year again by reinforcing its hybrid-focused sales strategy. According to data from the company, sales for Toyota-branded vehicles came in at 8,595 last year, up 36 percent from the previous year. Lexus, a luxury brand of Toyota, achieved a bigger sales growth with 13,561, up 79 percent during the same period.

Toyota Motor Korea said its Lexus ES300h was its key sales driver last year. Sales of the flagship hybrid model reached 7,839, the third-best-selling overseas vehicle here after Mercedes-Benz’ E250 and the BMW 520. The Lexus model is one of the firm’s major luxury sedans drawing stable popularity.

The vehicle has gained a particularly strong reaction here on the growing popularity of hybrid vehicles amid sluggish sales for electric vehicles (EV).

Toyota Motor Korea shared its strategy of continuously taking advantage of the booming hybrid industry at this transition period, ahead of the arrival of the all-electric era. Hybrid vehicles are considered a reasonable alternative to EVs, which are priced mostly higher than hybrids.

“Given the current resource circumstances, infrastructure and maintenance situations, the most effective powertrain that can contribute to carbon neutrality for now is hybrid-driven,” an official from Toyota Motor Korea said. “We will maintain the strategy throughout this year, and place our management focus on driving stable and solid growth in the Korean market.”