Toyota Introduces Hybrid Version of Land Cruiser for North American and Key Markets

Photo:www.wsj.com

Toyota (7203.T) revealed its latest offering, the first-ever hybrid version of the Land Cruiser, set to hit North American shores and other vital markets. As the world's leading automaker, Toyota aims to revitalize the high-margin and iconic sports utility vehicle segment.

 

With a rich heritage dating back to 1951, the new Land Cruiser model, alongside a smaller variant, will be manufactured at two Japanese factories before being exported worldwide. In North America, the Land Cruiser will be available as a hybrid, showcasing Toyota's commitment to reducing overall carbon dioxide emissions while meeting customer demands.

 

Hiroki Nakajima, Toyota's chief technology officer, emphasized their dedication to providing vehicles that cater to customers' desires while prioritizing environmental sustainability. "We'll offer vehicles that customers hope for," Nakajima stated.

 

The Land Cruiser and other Toyota models like the Alphard van boast substantial profitability. According to Seiji Sugiura, an analyst at Tokai Tokyo Research Institute, Land Cruisers and Alphards have consistently yielded high returns for Toyota. He also highlighted that potential profits could increase further if these models were marketed under the luxury brand, Lexus.

 

Toyota plans to launch the new Land Cruiser in Japan during the first half of 2024, with its arrival in the United States scheduled for the spring of the same year. The suggested retail pricing for the U.S. market will start in the mid-$50,000 range.

 

Additionally, Toyota will offer gasoline and diesel-powered versions of the Land Cruiser in regions like Western and Eastern Europe and the Middle East. A smaller Land Cruiser version is also on the horizon for the Japanese market, expected to arrive in winter.

 

As a testament to its popularity, the Land Cruiser, together with the Lexus LX and GX luxury SUVs, has achieved a remarkable sales figure of 11.3 million units as of last month's end, further solidifying Toyota's position as a dominant player in the SUV market.

 

 

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