TOYOTA of Peru It celebrated 33 years of leading the automotive market last year with a market share of 21%. In a context in which Chinese brand vehicles are rising in consumer preference, the Japanese company will do what is necessary to defend its throne.
And one of the horsepower that it will incorporate to move forward will be the growth in sales of electrified cars.
“Our wish is that by 2025 the market will improve. Our philosophy is to further advance electrified vehicle options, including hybrids and plug-ins. We hope to achieve this this year,” said Takuo Muto, CEO of TOYOTA del Perú. Peru21.
David Caro, Corporate Affairs Manager of TOYOTA del Perú, stated that, in the line of electrified vehicles, the Japanese brand seeks to increase the number of units sold by 2025 by around 50%. He indicated that, in 2024, TOYOTA sold almost 2,000 units in this category and for this year it hopes to place 3,000 units to maintain the 32% share in electrified vehicles.
There are several strategies within the electrified line that the brand will use to achieve its goal. One of them, according to Caro, is to increase the supply of hybrid vehicles, whose price compared to vehicles of similar size, but from another more expensive energy source, are worth only between US$2,000 and US$3,000 more.
According to the executive, these vehicles are in high demand by Peruvian families because they allow emissions to be reduced between 10% and 40%, respectively.
“We believe that the volume (of new vehicles) will continue to be concentrated in hybrids in the following years. If the market grows, what we hope is to maintain our participation in a more dynamic market,” stated Caro.
According to the Automotive Association of Peru (AAP), by 2025 the sector is expected to sell around 10,000 electrified light vehicles.
Chinese competition
The TOYOTA representative stated that the brand is aware of the positioning that Chinese brands have been gaining in this business, therefore, another strategy to compete will be differentiation with attributes of maintenance, convenience, financing, the acceptance of the vehicle as part of payment, among others.
“The idea is that, in one place, the client finds everything,” he says.
But electrified ones are only part of the strategy. Takuo Muto stated that the other horsepower to move forward is maintaining its solid positioning of the Hilux model and the growth of SUVs in general. In total, TOYOTA del Perú plans to sell 33,600 units in 2025.
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