Toyota goes all-in on hybrids as sales climb

AUTOEXEC SUMMARY

Hybrid cars have surged in popularity, more than doubling in sales this year as electric vehicle momentum slows. Toyota is capitalising on this trend by dropping conventional petrol engines from several models, including the RAV4, Kluger, Corolla, and Corolla Cross. While hybrid sales soar, Tesla’s sales have declined, with a 20% drop in May and over 40% in April. Despite heavy discounting, the electric car market’s growth has slowed, though BYD had a record month. Nearly a quarter of new-car sales last month were hybrids or EVs, with the Toyota RAV4 among the top sellers.

Brands Mentioned: Toyota, Tesla, BYD, Subaru, Honda, Ford, Isuzu