Toyota exec: hybrid bet paid off, EV demand still isn't there

Toyota Motor North America product chief Cooper Ericksen said the company's hybrid-heavy strategy has been vindicated: half of Toyota's U.S. sales are now electrified, and the RAV4 and Camry are hybrid-only for 2026. He argued EV demand was propped up by $20,000–$30,000 in combined incentives per vehicle, with market penetration peaking at 9%.

• Half of Toyota's U.S. sales are electrified, mostly hybrids
• RAV4 and Camry are hybrid-only for the 2026 model year
• EV incentives reached $20,000–$30,000 per vehicle including government support
• U.S. EV market penetration peaked at 9%