Well Zara, that is really quite an impressive own goal linking an article about Toyota as an example of slowing demand!!
For anyone with a bit of knowledge about the sector, Toyota is the one of the slowest big OEM's to convert to EV's. Despite their large ICE sales volume, Toyota only sold around 100,000 EV's in 2023. They have grow to 80,000 EV's in 7 months of 2024 and have plans for 2024 of around 140k of EV's sales for a 40% annual growth rate.
For 2025 Toyota plan to have 150% annual growth to get to 400,000 EV's.
For 2026 Toyota plan is to maintain this staggering 150% annual growth rate and shift from 400,000 EV's to 1 million EV's.
So contrary to your suggestion that its all about slowing growth, Toyota's plan is something like +40k, +260k & +600k of growth in 2024, 2025 and 2026. Can you please explain more clearly how that is slowing down in growth?
https://www.electrive.com/2024/09/06/toyota-lowers-ev-production-targets/
Toyota lowers EV production targets - electrive.com
Well Zara, that is really quite an impressive own goal linking...
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