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Toyota Motor Europe sales increase by +8% in 2021 to achieve a record 6.4% market share

01/14/2022 | 09:54am EDT

Brussels, Belgium - Toyota Motor Europe(2) (TME) reported 2021 sales of 1,076,300 Toyota and Lexus vehicles, again outperforming an overall market which had stabilised due to the combined effects of the pandemic and semi-conductor supply shortage.

* TME's vehicle sales of 1,076,300 (Jan-Dec 2021) up +8%, reflected strong customer demand, outperforming a stable market up +1% year-on-year

* The Toyota brand climbed to 2nd position for best-selling passenger car brands in Europe

* Sales sustained by high demand for Toyota and Lexus multi-technology, electrified line-up

* TME achieved European Union and UK CO2 fleet targets(1)

Across this period, TME's overall market share increased by 0.4 ppts to 6.4%, an all-time record for the company, reflecting overall growth of +1.4 ppts since 2018. This performance elevated the Toyota brand for the first time ever to the 2nd placed best-selling passenger car brand in Europe. A key part of this success can be attributed to record high customer demand for the company's low CO2 line-up, which encompasses a wide range of battery electric, fuel cell electric, plug-in hybrid electric and hybrid electric vehicles. TME's hybrid sales of 623,777 vehicles, up +19% year-on-year, represented 58% of the total mix and 70% in West Europe.


We are delighted with another strong annual performance given the challenging supply conditions the entire automotive industry has faced. We thank our customers for their loyalty and trust. I believe that this continued high demand is testament to our strategy to focus on broadening our range of new zero and low emission electrified vehicles. Our product and powertrain mix have enabled TME to meet its EU and UK CO2 targets in 2021, which we are committed to continue to do in the future as we strive towards carbon neutrality.'

Matt Harrison, President & CEO of Toyota Motor Europe



In December, both Toyota and Lexus unveiled several new electrified products which will form a core element in its carbon neutral strategy. Globally, the company will offer 30 battery electric vehicles by 2030 covering all segments. By this date, TME aims to be have a mix of at least 50% zero emission vehicles in Western Europe while the Lexus brand targets a 100% ZEV mix in the same period. Moving towards 2035, TME will be ready for 100% CO2 reduction in all new vehicles within the EU region. Within the shorter term, TME will expand its ZEV product offer to 10 models by 2025.

Brands and model performance

Toyota increased its share of the mainstream market by +0.6 ppts to 6.3% in 2021, while sales volume grew by +9% to 1,003,859. The brand's best sellers, Corolla, Yaris and RAV4 accounted for 55% of volume. Overall, hybrid electric vehicles represented 58% (+ 5.0 ppts year-on-year) and 69% (up + 6.0s ppts) in West Europe.

Key new launches included the all new Yaris Cross compact SUV. In April 2021, the new battery electric bZ sub-brand, built on a dedicated eTNGA platform was announced, followed by the European premiere of the bZ4X SUV in December 2021.

Lexus increased sales volume by +2% year-on-year and achieved a premium market share of 2.3%. The brand's best sellers, UX, NX and RX accounted for 81% of volume. Overall, hybrid electric vehicles represented 61% of total Europe sales, increasing to 90% in Western and Central Europe.

In Q4 2021 Lexus launched the second generation NX, introducing the brand's first plug-in electric vehicle alongside a substantially improved hybrid electric model. The brand has recently announced that its first all-electric vehicle on a dedicated platform, the RZ 450e, will be revealed in the first half of 2022. Lexus has ambitious growth plans of 20 model launches by 2025, almost doubling volume to 130,000 vehicles in Europe in this period.

TME highlights January- December 2021:

Total sales: 1,076,300 (+8.4% year-on-year)

Market share: 6.4% (+0.4% year-on-year)

Total hybrid sales: 623,777 (+19% year-on-year)

Hybrid mix: West Europe: 70% - East Europe*: 24% - TTL: 58%

Toyota highlights January- December 2021:

Toyota sales: 1,003,859 (+9% year-on-year)

Top sellers: Corolla Range (208,028); Yaris (179,383); RAV4 (161,266)

Top hybrids: Yaris Hybrid (143,595); Corolla Hybrid Range (166,811); Toyota C-HR Hybrid (112,757)

Total hybrid: 579,698 (+19% year-on-year)

Hybrid mix: West Europe: 69% - East Europe*: 26% - TTL: 58%

Lexus highlights January- December 2021:

Total Lexus sales: 72,441 (+2% year-on-year)

Top sellers: UX Range (21,144); NX Range (19,493); RX Range (18,346)

Top hybrids: UX Hybrid (17,261); NX Hybrid (14,255); RX Hybrid (5,718)

Total hybrid sales: 44,079 (-1% year-on-year)

Hybrid mix: West Europe: 90% - East Europe*: 8% - TTL: 61%

Sales for January - December 2021 are listed below:

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(C) 2022 Electronic News Publishing, source ENP Newswire

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Sales 2023 34 159 B 267 B 267 B
Net income 2023 2 948 B 23 055 M 23 055 M
Net Debt 2023 18 560 B 145 B 145 B
P/E ratio 2023 9,70x
Yield 2023 2,74%
Capitalization 28 128 B 220 B 220 B
EV / Sales 2023 1,37x
EV / Sales 2024 1,27x
Nbr of Employees 372 817
Free-Float 70,5%
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