Toyota Hybrid Car Buyers Face Long Waits As Demand Surges

Soaring demand for Toyota's gasoline-electric hybrids has outpaced supply, leading to parts shortages and months-long wait times for buyers, according to four people familiar with the situation, Reuters reported.

While the surge in demand reinforces Toyota’s position as the dominant hybrid manufacturer, it also presents challenges for the automaker. I Photo: Toyota Motors Philippines

Stocks of hybrid models remain low at Toyota dealerships across major markets, including the US, Japan, China, and Europe, two sources told Reuters.

While the surge in demand reinforces Toyota’s position as the dominant hybrid manufacturer, it also presents challenges for the automaker, which has bet on hybrid technology despite some rivals predicting a shift to battery-electric vehicles (BEVs).

Global hybrid sales, including plug-in hybrids (PHEVs), have nearly tripled in the last five years, growing from 5.7 million to 16.1 million units, according to LMC Automotive.

In Europe, Toyota customers now wait an average of 60 to 70 days for new hybrids—twice as long as in 2020.

The Yaris Cross Hybrid and RAV4 Plug-in Hybrid are among the most in-demand models. Meanwhile, Japan’s Toyota website indicates two- to five-month wait times for many models, Reuters reported.