Summary
- Toyota’s BZ4X and Subaru’s Solterra saw significant sales growth in the US last year
- Toyota plans to launch five to seven new EVs in the US in the next two years
- Both BZ4X and Solterra offer discounts and leasing deals to attract buyers
- BZ4X sales nearly doubled in 2024 compared to 2023
- While not eligible for the $7,500 tax credit when purchasing, both models offer incentives for leasing including discounts and 0% APR.
Article
Toyota BZ4X and Subaru Solterra See Sales Surge in the United States
Toyota’s sole EV in the United States, the BZ4X, and its Subaru twin, the Solterra, experienced a significant increase in sales last year. Both models saw double-digit growth in sales figures.
Toyota’s Big Plans for Electric Vehicle Portfolio
Toyota has ambitious plans for its electric vehicle portfolio, aiming to launch between five and seven new EVs in the U.S. in the next two years. While the BZ4X crossover is the only current EV in its portfolio, it falls short in terms of specs compared to competitors like the Tesla Model Y, with less range and slower charging capabilities.
Aggressive Pricing Strategy Leads to Sales Success
Both the Toyota BZ4X and Subaru Solterra saw sales success due to attractive pricing strategies, offering massive discounts and leasing deals. The BZ4X was one of the biggest winners in terms of sales last year, with Toyota selling 18,570 units in 2024, nearly doubling 2023’s sales figures. The Solterra also experienced a 40% increase in sales, making it the biggest winner in Subaru’s American portfolio.
Impressive Growth Despite Heavyweight Competition
While the sales numbers of the BZ4X and Solterra may pale in comparison to industry heavyweights like Tesla, General Motors, and Ford, the growth percentages are undeniable. The BZ4X even outsold other Toyota models like the Supra and GR86, demonstrating the success of the pricing strategy. Similarly, the Solterra outperformed other Subaru models, recording a 5.6% increase in sales overall.
Tax Credit Incentives for Leasing
While neither the BZ4X nor the Solterra are eligible for the $7,500 tax credit when purchasing, customers can still benefit from it when leasing. Both Toyota and Subaru offered attractive incentives for leasing, with discounts of up to $16,500 on the 2024 BZ4X model and significant savings on the 2025 model as well. These offers made it appealing for customers to lease these electric vehicles.
Future Outlook for Toyota’s Electric Vehicle Sales
The success of the BZ4X and Solterra in the U.S. market highlights the potential for Toyota’s electric vehicle sales. With plans to introduce several new EV models in the coming years, Toyota is positioning itself to be a key player in the growing EV market. By offering competitive pricing and attractive incentives, Toyota is making electric vehicles more accessible to a wider range of customers, driving further growth in the segment.
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