Toyota U.S. sales chief says win over GM ‘not sustainable,’ but expects bet on EVs to pay off


Toyota is making big bets on hybrids and electric vehicles after dethroning General Motors as America’s top automaker.

“What we are still seeing today is that many consumers that are in the full battery electric market still need a second car to fit family needs. So the demand for hybrid has been strong and we expect it to continue to grow as the entire industry transitions over to electrification later this decade,” Toyota North American sales chief Bob Carter told CNBC on Tuesday.

Carter expects Toyota’s hybrids to make up over 30% of vehicle volumes compared to around 26% last year — provided that supply chain disruptions clear up in the second quarter of this year.

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