Toyota SA expects new-energy vehicles to comprise 10% of its local sales by 2025
Toyota Motors South Africa (TSAM) aims for 10% of its sales, or 22 000 units, to be new-energy vehicles (NEVs) in 2025.
This means the local arm of the Japanese manufacturer aims for total market sales of 220 000 units two years from now.
NEVs are hybrids, plug-in hybrids, fuel cell vehicles, hydrogen-powered vehicles and battery electric vehicles.
Total TSAM sales reached 132 035 units in the South African market last year, with the local arm of the Japanese carmaker recording a market share of 24.9%.
TSAM president and CEO Andrew Kirby says that Toyota should reach sales of 155 000 units this year.
An even more interesting number is that TSAM aims for NEV sales to be 20% of all sales – or 54 000 units – in 2030.
This would put total TSAM sales at 270 000 units for the year, which is a significant jump from this year’s expected 155 000 units.
Kirby says TSAM’s sales will be driven by a number of factors.
These include a best-case scenario that could see the worst of the country’s energy crisis resolved by December 2024 – and “we know how this impacts the economy”.
He says it is also a reality that there is a “tremendous need for mobility” in South Africa, “even from a conservative point of view”, which means that there should be significant new-vehicle sales growth in the domestic market between 2024 and 2030.
Toyota will also be expanding its model range in South Africa.
“We are also currently restricted in terms of supply on a number of models,” notes Kirby.
“Some of them relate to NEVs, where we have not been able to get enough allocation . . . but it is also beyond just NEVs. We are short supplied on a number of other vehicles.
“So, we are comfortable that this is a realistic outlook.”
Kirby expects the big growth drivers in the South African new-vehicle market to be small to medium sports utility vehicles, as well as smaller, more affordable cars.
“We are forecasting fairly moderate growth on the light-commercial side.”
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