Toyota's 2024 Success in Europe: A Tale of Mirai, Supra, and Market Dynamics
Key Ideas
- Toyota's overall sales in Europe saw a significant increase in 2024, with both Toyota and Lexus experiencing growth, reaching an all-time high of 1,217,132 vehicles.
- The Toyota Mirai, a hydrogen sedan, outsold the Supra sports car in Europe, with 533 units delivered, showcasing its appeal in niche markets like taxi fleets.
- Challenges for the Supra's sales include its niche sports car status, high pricing influenced by VAT and emissions-based taxes, making it less competitive in the European market.
- Despite the decline of sports cars in Europe, Toyota plans to keep the Supra alive post its current generation, hinting at a new turbocharged gasoline engine in development.
In 2024, Toyota had a successful year in Europe with a three percent sales increase to 1,128,948 units, while Lexus saw a remarkable 20 percent growth to 88,184 cars, resulting in a total of 1,217,132 vehicles sold, marking a new high for the brands in Europe. Surprisingly, the Toyota Mirai, a hydrogen sedan, surpassed the sales of the Supra sports car, indicating its popularity within specific audiences like taxi fleets. The limited availability of hydrogen refueling stations across Europe, with fewer than 200 operational stations, poses a challenge for the Mirai's market reach. The high pricing of the Supra, influenced by VAT and emissions-based taxes, has hindered its sales performance in countries like the Netherlands. Toyota's partnership with BMW for cost-sharing and hydrogen development highlights strategic collaborations in the automotive industry. Despite market challenges, Toyota plans to continue the Supra line beyond the current generation, hinting at a new turbocharged gasoline engine in the works. The article also touches upon the discontinuation of the GR86 due to regulatory issues, contrasting with the success of the GR Yaris in 2024.