Toyota: Hybrids to be 20 percent of global market by 2020

Toyota’s executive vice president of R&D and engineering, Takeshi Uchiyamada, is anticipating that 20 percent of global vehicle sales will be extended-range plug-in hybrids by 2020.

Hybrid sales in Japan are already at 20 percent, however most other developing areas are below 10 percent, or just hitting that mark.

The market share for Toyota’s hybrids has been up to 80 percent in the U.S, however, emerging competition has lowered that figure, recently. Toyota plans on maintaining or exceeding the market share with the Prius C, Prius V, and Prius Plug-In, along with the Camry Hybrid.

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After the disaster hit Japan in March, Toyota had a hard time overcoming the loss of a supplier network, so the brand is now considering making some of the more instrumental parts outside of Japan as well.

Takeshi Uchiyamada says that “We are entering a stage of possible local procurement. We needs to do that to keep our competitiveness.”

In regards to electric vehicles, Uchiyamada feels that they are not going to meet sales expectations because “Based on the current data, the targets announced by other players show they are not on track.”

Photos Copyright © Chris Chin – egmCarTech.

– By: Alexandra Koken

Source: Automotive News