Toyota’s Fuel Cell Electric Vehicles (FCEVs) have seen a significant decline in sales this year, with a 54% drop compared to last year. In November alone, Toyota sold just 134 hydrogen-powered cars worldwide. This decrease in sales comes as a blow to the automaker, which had been a strong advocate for FCEV technology.
The challenges facing FCEV owners, particularly in the United States, have contributed to the decline in sales. Rising hydrogen prices and the closure of filling stations have made it difficult for owners to maintain their zero-emissions vehicles. These issues have likely deterred potential buyers from opting for FCEVs.
Looking at year-to-date figures, Toyota sold 1,702 FCEVs globally from January to November, marking a significant drop from the previous year. If December follows the usual trend of slow sales due to the holiday season, 2024 could turn out to be the worst year for Toyota’s FCEV sales since 2017. In comparison, 2020 was the slowest year for FCEV sales, with 1,770 units sold worldwide.
In Japan, Toyota’s home market, FCEV sales totaled just 29 units in November, representing a 17.1% decrease from the previous year. Throughout the first eleven months of 2024, 661 Toyota FCEVs were sold in Japan. Globally, Toyota sold 105 FCEVs last month, a 5.4% decline from the previous year, and 1,041 units from January to November, marking a 69% decrease compared to 2023. In 2023, Toyota sold 4,023 FCEVs worldwide.
The comparison with Rivian, a startup in the EV market, further highlights the challenges facing Toyota’s FCEV experiment. Rivian delivered an average of 3,339 EVs per month in the third quarter, demonstrating a stark contrast to Toyota’s FCEV sales.
Despite the setbacks, other automakers like BMW and Honda are moving forward with plans to introduce new hydrogen-powered vehicles. BMW aims to launch a mass-market FCEV in 2028, while Honda already offers the CR-V e:FCEV, a plug-in hybrid SUV. These developments suggest that the FCEV market may see growth in the future with more filling stations and lower hydrogen prices.
In conclusion, Toyota’s FCEV sales have experienced a significant decline this year, reflecting the challenges and competition in the evolving automotive industry. As the market continues to evolve, it remains to be seen how Toyota will adapt to the changing landscape of alternative fuel vehicles.