auto dealer in black and red logo
MenuMENU
SearchSEARCH

Automaker Favors Varied Auto Lineup to All EVs

Toyota Motor Corp. President Akio Toyoda says there is a silent majority who question whether automakers should pursue electric vehicles exclusively.

December 19, 2022
Automaker Favors Varied Auto Lineup to All EVs

Toyota Motor Corp. President Akio Toyoda says there is a silent majority who question whether automakers should pursue electric vehicles exclusively.

IMAGE: Toyota

3 min to read


Toyota Motor Corp. President Akio Toyoda claims he’s among the auto industry’s silent majority who question whether automakers should pursue electric vehicles exclusively.

As automakers race ahead with large investments into EVs, challenges are mounting. Securing parts and raw materials for batteries has become an increasing problem. And some in the business question whether car buyers will transition to EVs as quickly as assumed as EV prices skyrocket.

“People involved in the auto industry are largely a silent majority,” Toyoda told reporters during a visit to Thailand. “That silent majority is wondering whether EVs are really OK to have as a single option. But they think it’s the trend so they can’t speak out loudly.”

Toyota is investing in a diversified vehicle lineup that includes hydrogen-powered vehicles and hybrids, which use both batteries and gas engines. This is in stark contrast to major competitors, such as General Motors and Honda Motor Co., both of which have set dates for when their lineups will be all electric.

Toyota sees hybrid technology as an important option as countries build out charging infrastructure.  The automaker is also focusing on zero-emission vehicles powered by hydrogen.

“Because the right answer is still unclear, we shouldn’t limit ourselves to just one option,” Toyoda said.  

Globally, automakers have pivoted to EVs and startups, such as Rivian Automotive and Lucid Group Inc., have moved into the fray. But this may be shortsighted as many legacy automakers have a broad base of consumers living in rural areas and in developing economies with unreliable electricity supplies.

J.D. Power research finds the market share for EVs in the U.S. has risen to 6.5% of the total new-car market. EV sales have grown faster in states like California, which have more EV options and consumers willing to make the switch.

Auto executives predict gas-powered and hybrid models will be part of the market for some time to come. “The coastal areas, the East and West Coast, that’s electrifying much quicker than the interior of the country,” said Jim Rowan, chief executive of Volvo Car AB.

Other Japanese automakers share Toyoda’s skepticism about a fully electric future. Mazda Motor Corp execs once questioned if EVs really were cleaner and expressed concerns that EV batteries were too big and expensive.

Nissan Motor Co. took a more cautious approach to EVs, waiting instead to see if EV demand would materialize. However, Nissan reported in 2021 plans to invest $14.7 billion to roll out new EV models. Now, Nissan CEO Makoto Uchida says the company may need to invest more money into EVs.

Still, Toyoda argues fully electric models aren’t the only way to reduce carbon emissions. He says hybrid vehicles sold in large volumes can deliver short-term impacts. “It’s about what can be done now,” he said.

Toyoda noted alternatives to EVs, such as hydrogen-powered vehicles, were getting a warmer reception from government officials, members of the media and others involved in the auto industry.

“Two years ago, I was the only person making these kinds of statements,” he said.

In 2021, Toyota revealed plans to invest $35 billion on its EV lineup through 2030. The automaker also has made sizable investments in EV manufacturing capacity in the U.S. since then.

 

More Dealer Ops

Auto Dealer Today, Dealer Debrief, 07/15/2026, with Lauren Lawrence
Dealer Opsby Lauren LawrenceJuly 15, 2026

Dealer Debrief: Defection Data & EV Updates

In this week's debrief, host Lauren Lawrence discusses how to use defection data to your advantage and the latest on EV sales and charging infrastructure.

Read More →
Two professionals shake hands while exchanging a car key fob beside a vehicle, symbolizing a vehicle sale, lease agreement, or dealership transaction.
SponsoredJuly 8, 2026

How Defection Data is Bridging the Dealership Conversion Gap

Lead volume is flat, cross-shopping is up and brand loyalty is in retreat. As confident sales teams keep losing buyers they thought they had, daily industry sales data is showing dealers exactly where their funnel is breaking and how to fix it without buying a single new lead.

Read More →
Auto Dealer Today, Dealer Debrief, 07/02/2026 with Lauren Lawrence
Dealer Opsby Lauren LawrenceJuly 2, 2026

Dealer Debrief: Where are you losing customers?

In this week's debrief, host Lauren Lawrence discusses the hidden leaks in dealerships where you might be losing customers without even realizing it.

Read More →
Ad Loading...
Auto Dealer Today, Dealer Debrief, 06/25/2026, with Lauren Lawrence
Dealer Opsby Lauren LawrenceJune 26, 2026

Dealer Debrief: Improving Your Inventory Management

In this week's debrief, host Lauren Lawrence covers a new survey that shows what service technicians really want and two launches that could help improve your inventory and vehicle life cycle management.

Read More →
group of people standing in a circle holding puzzle pieces together
Dealer OpsJune 1, 2026

Ladies and Gentlemen, This Is a Dealership: Why the Fundamentals Still Decide Who Wins

A teaching moment by a legendary football coach happens to apply perfectly in the auto retail space. Learn what it is and how to use it to your store’s advantage.

Read More →
Cover image for a BOK Financial report titled “Timing the market: How avoiding volatility entirely can hurt long-term reinsurance program performance.” The image shows several road construction barricades with flashing amber warning lights lined up in a nighttime work zone. Beneath the image, red text explains that avoiding volatility can mean falling behind inflation and missing market rebounds that drive long-term surplus growth. The BOK Financial logo appears at the bottom right.
SponsoredMay 8, 2026

What Market Timing Mistakes Mean for Your Reinsurance Program

When volatility hits, dealer-owned reinsurance programs face a familiar temptation: pull back and wait for calmer waters. New data from BOK Financial shows why that instinct can quietly cost you years of surplus growth.

Read More →
Ad Loading...
two cars on a billboard, No Hidden Fees
ComplianceMay 1, 2026

Dealer Ads and the FTC

The agency has made it clear in recent enforcement actions and warnings, in auto retail and other industries, that advertised prices must include all nonoptional costs to the consumer.

Read More →
Closeup of white car's headlight, front end
Dealer Opsby Hannah MitchellApril 17, 2026

Used Autos Supply Dwindles

The March shopping surge, despite high prices, cut into inventory by the most since the thick of the pandemic, Cox Automotive analysts calculated.

Read More →
hands making protective frame over red car, Risk Reality Check, Be Proactive, Auto Dealer Today logo
Dealer OpsApril 1, 2026

Managing Risk Effectively Through Changing Times

The variables influencing risk pricing have changed significantly over the past five years. Being proactive and responsive to emerging trends is not optional but essential.

Read More →
Ad Loading...
Car key, stacks of coins, and a paper car cutout with AutoPayPlus logo, representing auto financing, loan terms, and vehicle affordability trends.
Dealer Opsby StaffMarch 31, 2026

Survey Reveals What Won't Fix What's Breaking Car Sales

AutoPayPlus says extra-long auto loans are trapping consumers and threatening the dealer trade-in cycle, and that the industry is leveraging the wrong tools to combat high MSRPs.

Read More →