Ikeda Mio's questions to TOYOTA MOTOR CORP/ (TM) leadership • Q2 2024
Question
Inquired about the outlook for the Chinese market, the reasons for the downward revision of the BEV sales forecast, and whether the profitability of plug-in hybrid vehicles (PHEVs) is on par with internal combustion engine (ICE) vehicles.
Answer
The Chinese market is experiencing intense price competition in BEVs, led by local OEMs. Toyota aims to maintain its market share by focusing on its strength in hybrids. The BEV sales forecast was reduced due to this competition and because Toyota's current BEV products have room for improvement. The profitability of hybrid vehicles is on par with ICE vehicles.