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Toyota NZ ends strong year focused on future growth

Customer loyalty and an appreciation of quality-built cars delivered a record 36th consecutive year of
market leadership for Toyota New Zealand in 2023.

Sales of new vehicles for the 12 months to the end of December 2023 were strong at 33,640, a 13%
growth on the previous year. Toyota’s focus on offering a wide range of vehicles that meet the needs
of most New Zealanders is a key factor in the Japanese company-market dominant position. Toyota
recognises it is a privilege to be market leader and it is a position that comes with responsibility and
acknowledgment of continuous customer support.

As more customers demand fuel-saving and carbon emissions-lowering powertrains, Toyota is
meeting the market with hybrid options available in its core passenger models such as Corolla, RAV4
and Highlander. Hybrids made up 52% of new vehicles sold in 2023. As a result, Toyota’s average CO2
grams per kilometre was down 7% to 165 g/km at years end. The introduction of the marques first fully
electric bZ4X and hybrid Hilux in 2024 will further support Toyota’s commitment to decarbonising its

Toyota New Zealand Chief Executive Neeraj Lala says “To be honest, 2023 was the most disruptive year we have faced in terms of government intervention in the market. The lack of certainty and policy flip flops had an enormous impact on our supply chain, our people and our stores.”

“However, we had incredibly understanding customers and I couldn’t thank them more for their
ongoing support. They are the reason we do what we do. With the support of our business partners,
we made huge efforts to get our customers’ orders delivered even as policies waxed and waned. At
the end of the day, this is what we do well – service our customers and ensure they are happy, whether
it is buying a new or used car, ordering a part or getting their vehicle serviced at a local Toyota Store.”

While 2023 was a strong year for Toyota New Zealand, the company is not resting on its laurels.
“The transition towards full electrification is happening and we are committed to making sure we
continue to provide the broadest range of Toyotas and introduce the right tech, to the right people,
and at the right time. We call this Mobility for All which needs customers, tech and infrastructure to
be moving forward together.”

Mr Lala says a range of factors are driving sustainability measures through the business such as the
decarbonisation targets. Customer demand for low or no emitting vehicles is one factor, while being
a good corporate citizen and supporting New Zealand’s transition to net zero carbon mobility is

“For us, sustainability is about reducing our impact on the environment, supporting biodiversity, and
making a positive difference to people’s lives. We are doing this through our national programmes
and via our 60 Toyota Stores, most of whom contribute significantly to local community groups or
nature initiatives.”

Different customers need different types of access to mobility and Toyota’s vision over the next five
years is to offer the widest range of New and Used vehicles, with the best customer care and innovative
access options. Toyota believes there is not one powertrain solution for every Kiwi driver, so its vision
is to offer a mix of all powertrains from hybrid and plug-in hybrid to battery electric and hydrogen fuel

2023 Toyota Gazoo Racing Festival

“We are a volume business, and our strategy has been to serve all customers in just about every
segment, that’s not about to change. What is changing is the mix and availability of models. Over time
we will sell more electrified vehicles and a rapidly decreasing number of diesel or petrol vehicles,” Mr
Lala says.

Where previously Toyota was known for its range of models, it now has a range of models and
powertrains. The brand has the strength and depth of customer support to transform over time as
more electrified options, such as the forthcoming Hilux Hybrid, become available.

“We have four core types of technology on our five-year radar – Hybrid Electric, Plug in Hybrid Electric,
Battery Electric and Fuel Cell Electric vehicles. By offering a wide range, we will be able to meet our
commitment to a 46% reduction in carbon emissions and our target of getting to Net Zero as a global
organisation by 2050,” Mr Lala says.

Toyota New Zealand is also a significant importer of used vehicles, many of which are refurbished or
prepared for sale at its Thames facility. The Toyota Signature Class and Toyota Certified brand have
become known for high quality and dependable used vehicles. Toyota sold 7,336 used vehicles in 2023,
an increase of 25% over 2022.

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With almost one in four cars, SUVs, utes and vans in New Zealand sporting the Toyota logo on the
bonnet, Toyota’s service and parts business is another business growth area. As many Toyota
customers realise, Toyota vehicles will last a long time if they are correctly maintained. The Toyota
parts business continues to grow and distributed 2.7m parts in 2023.

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