Toyota: parts shortages slow deliveries of hybrid models
The marked increase in demand for Toyota's hybrid vehicles, especially since 2024, has led to inventory problems and delivery delays of several months, even more than a year, not only in Quebec but also in many other markets around the world. Examples include the Corolla Cross hybrid, the Prius and various variants of the popular RAV4.
Some parts shortages are also to blame, according to Reuters news agency on Monday. These shortages are creating a bottleneck throughout the supply chain, and hampering the automaker's efforts to increase production of hybrid models at its plants.
On condition of anonymity, two sources close to Toyota have confided that parts manufactured in Japan and shipped both locally and abroad are in short supply to meet demand. This is particularly true of electric motors supplied by Aisin, due to a shortage of the magnets used in the rotors and stators.
Denso, another major Toyota supplier, is also reportedly experiencing supply delays, preventing it from delivering its inverters as planned. Inverters are used to convert battery current and control electric motors. Toyota is reportedly considering turning to other suppliers, or even producing these parts itself.
Sales on the rise
Let's not forget that the automaker's vehicle range is increasingly featuring hybrid models. In fact, some no longer offer gasoline-only engines. That's why a US$13.9 billion mega-battery plant is being completed in North Carolina, with four lines dedicated to hybrids. The plant is scheduled to start shipping batteries this month.
In Canada, Toyota's electrified vehicles (hybrid and electric) account for over 55% of total sales. RAV4 sales reached another record for a month of February, with 2,996 hybrids sold, up 52.2% on February 2024. Sales of the Camry hybrid (62.4%), Corolla Cross hybrid (47.4%), Highlander hybrid (125.7%) and Sequoia (38.5%) were also up.
