Toyota Motor (TM.US) may gradually phase out internal combustion engine vehicles and instead introduce all hybrid vehicles.
According to the Wise Finance app, as the demand for electric vehicles slows down and competitors begin to reorient resources to gasoline-powered vehicles, Toyota Motor (TM.US) may gradually phase out internal combustion engines and instead introduce all hybrid powertrain models.
"Looking ahead, we plan to evaluate whether all hydrid vehicles are reasonable one by one," said Toyota's North American sales and marketing director.
This evaluation includes the company's luxury model Lexus and America's best-selling sport utility vehicle (SUV), the 2026 RAV4. Toyota stopped producing gasoline-powered Camrys from the 2025 model year, while the small trucks Land Cruiser and Sienna now offer only hybrid models.
Toyota has been one of the few automakers that has not fully embraced the electric vehicle revolution, having established itself in the hybrid market since the introduction of the Prius in 2000. The company has only one electric vehicle, the bZ4X, as well as 15 hybrid models and two plug-in hybrid models, and a fuel cell electric vehicle Mirai. In the US, Toyota/Lexus sold 0.657 million hybrid vehicles last year, ranking first.
The entire industry is taking this step, with General Motors (GM.US) and Ford Motor (F.US) offering hybrid vehicles to investors as limited charging stations and high prices hinder the popularity of electric vehicles. According to data from S&P Global Mobility, the registration of hybrid and plug-in hybrid vehicles increased by 48% in the first quarter of this year, while the registration of electric vehicles increased by only 5.2%.
In addition to convenience, hybrid vehicles also provide consumers with environmentally friendly options that comply with Environmental Protection Agency regulations in the United States.
Toyota Motor rose 2.70% on Thursday, its third consecutive day of gains. The stock has risen nearly 8% since the beginning of the week.